<SEC-DOCUMENT>0000842180-19-000005.txt : 20190328
<SEC-HEADER>0000842180-19-000005.hdr.sgml : 20190328
<ACCEPTANCE-DATETIME>20190328165115
ACCESSION NUMBER:		0000842180-19-000005
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		341
CONFORMED PERIOD OF REPORT:	20181231
FILED AS OF DATE:		20190328
DATE AS OF CHANGE:		20190328

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
		CENTRAL INDEX KEY:			0000842180
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			U3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10110
		FILM NUMBER:		19712596

	BUSINESS ADDRESS:	
		STREET 1:		CIUDAD BBVA C/. SAUCEDA, 28.
		STREET 2:		EDIFICIO AFRICA
		CITY:			MADRID
		STATE:			U3
		ZIP:			28050
		BUSINESS PHONE:		011 34 91 537 8172

	MAIL ADDRESS:	
		STREET 1:		CIUDAD BBVA C/. SAUCEDA, 28.
		STREET 2:		EDIFICIO AFRICA
		CITY:			MADRID
		STATE:			U3
		ZIP:			28050

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANCO BILBAO VIZCAYA ARGENTARIA S A
		DATE OF NAME CHANGE:	20000505

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANCO BILBAO VIZCAYA S A
		DATE OF NAME CHANGE:	19991103
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>d20f2018f.htm
<DESCRIPTION>DOCUMENT 20-F
<TEXT>

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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 220.95pt right 441.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>


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<div style="border:none;border-top:solid black 1.0pt;padding:0cm 31.0pt 31.0pt 31.0pt;"><p style="border:none;margin-bottom:0cm;margin-left:45.0pt;margin-right:0cm;margin-top:1.0pt;padding:0cm;text-align:center;text-indent:-45.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:4.0pt;line-height:1.0pt;">&#160;&nbsp;</font></font></p>

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<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:2.25pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:18.0pt;">UNITED STATES SECURITIES AND EXCHANGE
COMMISSION </font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">WASHINGTON, D.C. 20549 </font></b></font></p>

<div style="border:none;border-bottom:solid black 1.0pt;margin-left:216.0pt;margin-right:216.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;padding:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;line-height:4.0pt;">&nbsp;</font></font></p>

</div>


<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:18.0pt;">FORM 20-F </font></b></font></p>

<div style="border:none;border-bottom:solid black 1.0pt;margin-left:216.0pt;margin-right:216.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;padding:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;line-height:4.0pt;">&nbsp;</font></font></p>

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<p style="border:none;margin-bottom:.0001pt;margin-left:30.6pt;margin-right:0cm;margin-top:9.0pt;text-indent:-30.6pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; REGISTRATION
STATEMENT PURSUANT TO SECTION 12(b) OR (g)&nbsp;OF THE SECURITIES EXCHANGE ACT
OF 1934 </font></b></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">OR </font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:30.6pt;margin-right:0cm;margin-top:9.0pt;text-indent:-30.6pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">[X]</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; ANNUAL REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 </font></b></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For the fiscal year ended
December&nbsp;31, 2018</font></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">OR </font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:30.6pt;margin-right:0cm;margin-top:9.0pt;text-indent:-30.6pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 </font></b></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:center;text-indent:30.6pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For the transition period from ___ to
___</font></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">OR </font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:30.6pt;margin-right:0cm;margin-top:9.0pt;text-indent:-30.6pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; SHELL COMPANY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 </font></b></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:center;text-indent:30.6pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Date of event requiring this shell
company report</font></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Commission file number: 1-10110 </font></font></p>

<div style="border:none;border-bottom:solid black 1.0pt;margin-left:216.0pt;margin-right:216.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;padding:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;line-height:4.0pt;">&nbsp;</font></font></p>

</div>


<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:22.0pt;">BANCO BILBAO VIZCAYA ARGENTARIA, S.A. </font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">(Exact name of
Registrant as specified in its charter) </font></b></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:22.0pt;">BANK BILBAO VIZCAYA ARGENTARIA,
S.A. </font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">(Translation of
Registrant&#8217;s name into English) </font></b></font></p>

<div style="border:none;border-bottom:solid black 1.0pt;margin-left:216.0pt;margin-right:216.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;padding:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;line-height:4.0pt;">&nbsp;</font></font></p>

</div>


<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Kingdom of Spain </font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">(Jurisdiction of
incorporation or organization) </font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Calle Azul, 4</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">28050 Madrid</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spain </font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">(Address of principal
executive offices) </font></b></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Jaime S&#225;enz de Tejada Pulido</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Calle
Azul, 4</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">28050 Madrid</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spain </font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Telephone
number +34 91 537 7000</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;text-align:center;"><font face="Times New Roman,serif" style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">(Name, Telephone,
E-mail and /or Facsimile Number and Address of Company Contact Person)</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;text-align:center;"><font face="Times New Roman,serif" style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;text-align:center;"><font face="Times New Roman,serif" style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;text-align:center;"><font face="Times New Roman,serif" style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;text-align:center;"><font face="Times New Roman,serif" style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></font></p>

<p align=left style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;text-align:left;"><font face="Times New Roman,serif" style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></font></p>



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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:justify;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_2"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 220.95pt right 441.9pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>


</DIV>
<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Securities registered or to be registered
pursuant to Section&nbsp;12(b) of the Act.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:5.65pt;">
  <td width=53% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=3% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=44% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.6pt;">
  <td width=53% style="height:10.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin-left:0cm;margin-right:0cm;text-align:center;"><font style="border:none;"><b><u><font face="Times New Roman,serif" style="font-size:9.0pt;">Title of Each Class</font></u></b></font></p>
  </td>
 <td rowspan=3 width=3% style="height:10.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin-left:0cm;margin-right:0cm;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=44% style="height:10.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><u><font face="Times New Roman,serif" style="font-size:9.0pt;">Name of Each Exchange on which Registered</font></u></b></font></p>
  </td>
 </tr>
<tr style="height:34.85pt;">
  <td valign=top width=53% style="height:34.85pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">American Depositary
  Shares, each representing</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">the right to
  receive one ordinary share,</font></b></font></p>
  <p align=center style="border:none;margin-left:0cm;margin-right:0cm;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">par value &#8364;0.49 per share</font></b></font></p>
  </td>
 <td valign=top width=44% style="height:34.85pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">New York Stock Exchange</font></b></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=top width=53% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Ordinary shares, par value &#8364;0.49&nbsp;per
  share</font></b></font></p>
  </td>
 <td valign=top width=44% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">New York Stock Exchange*</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.95pt;">
  <td width=53% style="height:21.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=3% style="height:21.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=44% style="height:21.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=top width=53% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">3.000% Fixed Rate
  Senior Notes due 2020</font></b></font></p>
  </td>
 <td valign=top width=3% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=44% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">New York Stock
  Exchange</font></b></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=top width=53% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=3% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=44% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-left:0cm;margin-right:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table>


</div>


<p style="border:none;margin-bottom:.0001pt;margin-left:24.45pt;margin-right:0cm;margin-top:0cm;text-indent:-24.5pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The ordinary shares are not listed for trading, but
are listed only in connection with the registration of the American Depositary
Shares, pursuant to requirements of the New York Stock Exchange. </font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:24.45pt;margin-right:0cm;margin-top:0cm;text-indent:-24.5pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:24.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-24.5pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Securities registered or to be registered
pursuant to Section&nbsp;12(g) of the Act.</font></b></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">None </font></b></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Securities for which there is a reporting
obligation pursuant to Section&nbsp;15(d) of the Act.</font></b></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr style="height:6.05pt;">
  <td valign=top width=48% style="height:6.05pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><u><font face="Times New Roman,serif" style="font-size:9.0pt;">Title of Each
  Class</font></u></b></font></p>
  </td>
 <td valign=top width=5% style="height:6.05pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=47% style="height:6.05pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><u><font face="Times New Roman,serif" style="font-size:9.0pt;">Name of Each
  Exchange on which Registered</font></u></b></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=48% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Non-Step
  Non-Cumulative Contingent Convertible Perpetual</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Preferred Tier 1
  Securities</font></b></font></p>
  </td>
 <td valign=top width=5% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=47% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Irish Stock
  Exchange</font></b></font></p>
  </td>
 </tr>
<tr style="height:3.2pt;">
  <td valign=top width=48% style="height:3.2pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=5% style="height:3.2pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=47% style="height:3.2pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">The
number of outstanding shares of each class of stock of the Registrant as of
December 31, 2018, was: </font></b></font></p>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Ordinary shares, par
value &#8364;0.49 per share&#8212;6,667,886,580</font></b></font></p>

<div style="border:none;border-bottom:solid black 1.0pt;margin-left:216.0pt;margin-right:216.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">

<p align=left style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;padding:0cm;text-align:left;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:4.0pt;">&nbsp;</font></font></p>

</div>


<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in
Rule 405 of the Securities Act. </font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr>
  <td valign=top width=51% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Yes </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[X]</font></font></p>
  </td>
 <td valign=top width=49% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">No </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font></p>
  </td>
 </tr>
</table>


</div>


<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">If
this report is an annual or transition report, indicate by check mark if the
registrant is not required to file reports pursuant to Section&nbsp;13 or 15(d)
of the Securities Exchange Act of 1934. </font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr>
  <td valign=top width=51% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Yes </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font></p>
  </td>
 <td valign=top width=49% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">No </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[X]</font></font></p>
  </td>
 </tr>
</table>


</div>


<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Indicate
by check mark whether the registrant (1)&nbsp;has filed all reports required to
be filed by Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2)&nbsp;has been subject to such
filing requirements for the past 90 days.</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr>
  <td valign=top width=51% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Yes </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[X]</font></font></p>
  </td>
 <td valign=top width=49% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">No </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font></p>
  </td>
 </tr>
</table>


</div>


<p style="border:none;margin-left:0cm;margin-right:0cm;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Indicate by check mark whether the registrant has submitted
electronically every Interactive Data File required to be submitted pursuant to
Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was
required to submit such files).</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr style="height:10.8pt;">
  <td valign=top width=51% style="height:10.8pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Yes </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[X]</font></font></p>
  </td>
 <td valign=top width=49% style="height:10.8pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">No </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font></p>
  </td>
 </tr>
</table>


</div>




<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>




<DIV bclFooter>


<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 212.6pt right 425.2pt;text-align:justify;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_3"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;"><font style="border:none;mso-bidi-font-size:12.0pt;mso-font-kerning:16.0pt;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Indicate by check mark whether the
registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or an emerging growth company. See definition of &#8220;large
accelerated filer&#8221;, &#8220;accelerated filer,&#8221; and &#8220;emerging growth company&#8221; in Rule
12b-2 of the Exchange Act.:</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr>
  <td valign=top width=25% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Large
  accelerated filer </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[X]</font></font></p>
  </td>
 <td valign=top width=25% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Accelerated
  filer </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font></p>
  </td>
 <td valign=top width=25% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Non-accelerated
  filer </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font></p>
  </td>
 <td valign=top width=25% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Emerging growth
  company </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font></p>
  </td>
 </tr>
</table>


</div>


<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">If an emerging growth company that prepares
its financial statements in accordance with U.S. GAAP, indicate by check mark
if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">The term &#8220;new or revised financial
accounting standard&#8221; refers to any update issued by the Financial Accounting
Standards Board to its Accounting Standards Codification after April 5, 2012.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Indicate by check mark which basis of
accounting the registrant has used to prepare the financial statements included
in this filing:</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr>
  <td valign=top width=34% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">U.S. GAAP&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">International
  Financial Reporting Standards&nbsp;as Issued by the International Accounting
  Standards Board </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[X]</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Other </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font></p>
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table>


</div>


<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&nbsp;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">If
&#8220;Other&#8221; has been checked in response to the previous question, indicate by
check mark which financial statement item the registrant has elected to follow.
</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr>
  <td valign=top width=50% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Item&nbsp;17&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font></p>
  </td>
 <td valign=top width=50% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Item&nbsp;18 </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&#160; &nbsp;</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table>


</div>


<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">If
this is an annual report, indicate by check mark whether the registrant is a
shell company (as defined in Rule 12b-2 of the Exchange Act). </font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr>
  <td valign=top width=50% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Yes </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></font></p>
  </td>
 <td valign=top width=50% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">No </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">[X]</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;"> &nbsp;</font></font></p>
  </td>
 </tr>
</table>


</div>


<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;"><a name="_DV_M40"></a><a name="_DV_M131"></a><a name="_DV_M144"></a><a name="_DV_M145"></a><a name="_DV_M146"></a><a name="_DV_M147"></a><a name="_DV_M148"></a><a name="_DV_M149"></a><a name="_DV_M150"></a><a name="_DV_M151"></a><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<h1 align=center style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:center;">&nbsp;</h1>
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;"><font style="border:none;mso-bidi-font-size:12.0pt;mso-font-kerning:16.0pt;mso-no-proof:yes;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>


</DIV>
<h1 align=center style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">BANCO BILBAO VIZCAYA ARGENTARIA, S.A.</font></b></font></h1>

<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TABLE OF CONTENTS </font></b></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr>
  <td width=13% style="padding:0cm 0cm 0cm 0cm;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:1.0pt;">&nbsp;</font></font></p>
   </td>
 <td width=77% style="padding:0cm 0cm 0cm 0cm;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:1.0pt;">&nbsp;</font></font></p>
   </td>
 <td width=10% style="padding:0cm 0cm 0cm 0cm;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:1.0pt;">&nbsp;</font></font></p>
   </td>
 </tr>
<tr>
  <td valign=bottom width=13% style="padding:0cm 0cm 0cm 7.2pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:4.0pt;line-height:2.0pt;">&nbsp;</font></font></p>
   </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 7.2pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:4.0pt;line-height:2.0pt;">&nbsp;</font></font></p>
   </td>
 <td valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
   <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:7.5pt;">PAGE</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">
   &nbsp;</font></font></p>
   <div style="border:none;border-top:solid windowtext 1.0pt;padding:1.0pt 31.0pt 31.0pt 31.0pt;">
   <p align=right style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:4.0pt;line-height:1.0pt;">&nbsp;</font></font></p>
   </div>

   </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-left:0cm;margin-right:0cm;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">PART&nbsp;I</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:4.0pt;line-height:2.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:4.0pt;line-height:2.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-left:0cm;margin-right:0cm;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;1.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_10"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">5</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">A.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_10"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Directors and Senior Management</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">5</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">B.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_10"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Advisers</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">5</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">C.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_10"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Auditors</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">5</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;2.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_10"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">OFFER STATISTICS AND EXPECTED TIMETABLE</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">5</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;3.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_11"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">KEY INFORMATION</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">6</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">A.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_11"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Selected Consolidated Financial Data</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">6</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">B.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_13"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Capitalization and Indebtedness</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">8</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">C.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_13"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Reasons for the Offer and Use of Proceeds</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">8</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">D.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_13"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Risk Factors</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">8</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;4.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_45"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">INFORMATION ON THE COMPANY</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">40</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">A.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_45"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">History and Development of the Company</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">40</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">B.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_48"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Business Overview</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">43</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">C.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_85"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Organizational Structure</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">80</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">D.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_87"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Property, Plants and Equipment</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">82</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">E.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_87"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Selected Statistical Information</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">82</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">F.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_116"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Competition</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">111</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">G.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_119"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Cybersecurity and Fraud Management</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">114</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;4A.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_120"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">UNRESOLVED STAFF COMMENTS</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">115</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;5.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_120"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">OPERATING AND FINANCIAL REVIEW AND PROSPECTS</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">115</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">A.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_132"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Operating Results</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">127</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">B.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_196"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Liquidity and Capital Resources</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">191</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">C.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_201"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Research and Development, Patents and Licenses, etc.</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">196</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">D.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_201"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Trend Information</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">196</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">E.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_203"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Off-Balance Sheet Arrangements</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">198</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">F.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_204"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Tabular Disclosure of Contractual Obligations</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">199</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;6.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_205"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">200</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">A.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_205"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Directors and Senior Management</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">200</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">B.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_215"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Compensation</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">210</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">C.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_226"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Board Practices</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">221</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">D.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_234"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Employees</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">229</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">E.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_237"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Share Ownership</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">232</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;7.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_238"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">233</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">A.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_238"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Major Shareholders</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">233</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">B.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_238"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Related Party Transactions</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">233</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">C.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_239"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Interests of Experts and Counsel</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">234</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;8.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_240"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">FINANCIAL INFORMATION</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">235</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">A.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_240"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Consolidated Statements and Other Financial Information</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">235</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">B.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_243"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Significant Changes</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">238</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;9.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_243"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">THE OFFER AND LISTING</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">238</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">A.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_243"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Offer and Listing Details</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">238</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">B.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_249"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Plan of Distribution</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">244</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">C.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_249"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Markets</font></u></a></font></p>
  </td>
 <td nowrap valign=top width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">244</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">D.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_249"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Selling Shareholders</font></u></a></font></p>
  </td>
 <td nowrap valign=top width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">244</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">E.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_249"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Dilution</font></u></a></font></p>
  </td>
 <td nowrap valign=top width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">244</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">F.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_250"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Expenses of the Issue</font></u></a></font></p>
  </td>
 <td nowrap valign=top width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">245</font></font></p>
  </td>
 </tr>
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   <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:1.0pt;">&nbsp;</font></font></p>
   </td>
 <td width=77% style="padding:0cm 0cm 0cm 0cm;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:1.0pt;">&nbsp;</font></font></p>
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   <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:1.0pt;">&nbsp;</font></font></p>
   </td>
 </tr>
<tr>
  <td valign=bottom width=13% style="padding:0cm 0cm 0cm 7.2pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:4.0pt;line-height:2.0pt;">&nbsp;</font></font></p>
   </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 7.2pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:4.0pt;line-height:2.0pt;">&nbsp;</font></font></p>
   </td>
 <td valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
   <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:7.5pt;">PAGE</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">
   &nbsp;</font></font></p>
   <div style="border:none;border-top:solid windowtext 1.0pt;padding:1.0pt 31.0pt 31.0pt 31.0pt;">
   <p align=right style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:4.0pt;line-height:1.0pt;">&nbsp;</font></font></p>
   </div>

   </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;10.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_250"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">ADDITIONAL INFORMATION</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">245</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">A.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_250"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Share Capital</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">245</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">B.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_250"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Memorandum and Articles of Association</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">245</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">C.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_253"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Material Contracts</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">248</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">D.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_254"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Exchange Controls</font></u></a><font face="Times New Roman,serif" style="font-size:10.0pt;"> &nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">249</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">E.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_255"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Taxation</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">250</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">F.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_260"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Dividends and Paying Agents</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">255</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">G.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_260"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Statement by Experts</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">255</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">H.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_260"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Documents on Display</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">255</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">I.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_260"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Subsidiary Information</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">255</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;11.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_260"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">255</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;12.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_268"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">263</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">A.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_268"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Debt Securities</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">263</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">B.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_268"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Warrants and Rights</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">263</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">C.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_268"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">Other Securities</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">263</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">D.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_268"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">American Depositary Shares</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">263</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">PART II</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;13.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_269"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">264</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;14.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_269"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND
  USE OF PROCEEDS</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">264</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;15.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_269"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">CONTROLS AND PROCEDURES</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">264</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;16.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_272"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">[RESERVED]</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">267</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;16A.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_272"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">AUDIT COMMITTEE FINANCIAL EXPERT</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">267</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;16B.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_272"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">CODE OF ETHICS</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">267</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;16C.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_273"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">PRINCIPAL ACCOUNTANT FEES AND SERVICES</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">268</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;16D.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_274"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">269</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;16E.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_274"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED
  PURCHASERS</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">269</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 16F.</font></font></p>
  </td>
 <td valign=top width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_275"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">CHANGE IN REGISTRANT&#8217;S CERTIFYING ACCOUNTANT</font></u></a></font></p>
  </td>
 <td nowrap valign=top width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">270</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 16G.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_275"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">CORPORATE GOVERNANCE</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">270</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 16H.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_277"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">MINE SAFETY DISCLOSURE</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">272</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">PART III</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;17.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_277"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">FINANCIAL STATEMENTS</font></u></a></font></p>
  </td>
 <td nowrap valign=top width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">272</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;18.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_277"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">FINANCIAL STATEMENTS</font></u></a></font></p>
  </td>
 <td nowrap valign=top width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">272</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM&nbsp;19.</font></font></p>
  </td>
 <td valign=bottom width=77% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><a href="#page_278"><u><font color=blue face="Times New Roman,serif" style="font-size:10.0pt;">EXHIBITS</font></u></a></font></p>
  </td>
 <td nowrap valign=top width=10% style="padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">273</font></font></p>
  </td>
 </tr>
</table>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CERTAIN
TERMS AND CONVENTIONS</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The terms below are used as follows
throughout this report:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;, the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Bank</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;, the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Company</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;,
the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Group</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;, the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Group</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; or first person personal pronouns,
such as &#8220;we&#8221;, &#8220;us&#8221;, or &#8220;our&#8221;, mean Banco Bilbao Vizcaya Argentaria, S.A. and
its consolidated subsidiaries unless otherwise indicated or the context
otherwise requires.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Bancomer</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; means Grupo
Financiero BBVA Bancomer, S.A. de C.V. and its consolidated subsidiaries,
unless otherwise indicated or the context otherwise requires.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Compass</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; means BBVA
Compass Bancshares, Inc. and its consolidated subsidiaries, unless otherwise
indicated or the context otherwise requires.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Consolidated Financial Statements</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;
means our audited consolidated financial statements as of and for the years
ended December 31, 2018, 2017 and 2016 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">prepared
</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">in compliance with International Financial
Reporting Standards as issued by the International Accounting Standards Board
(&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IFRS-IASB</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and in accordance with the International Financial
Reporting Standards adopted by the European Union (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EU-IFRS</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) required
to be applied under the Bank of Spain&#8217;s Circular 4/2004 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and Circular 4/2017 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(each
as defined herein)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Garanti</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; means T&#252;rkiye Garanti
Bankas&#305; A.&#350;., and its consolidated subsidiaries, unless otherwise
indicated or the context otherwise requires.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Latin America</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; refers to Mexico
and the countries in which we operate in South America and Central America.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In this report, &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">$</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;, &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">U.S. dollars</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;, and &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">dollars</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;
refer to United States Dollars and &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8364;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; and &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">euro</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; refer to Euro.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:center;"><a name="_DV_C79_0"></a><a name="_DV_M40_0"></a><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING STATEMENTS </font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This Annual Report contains
statements that constitute forward-looking statements within the meaning of
Section&nbsp;27A of the Securities Act of 1933, as amended (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Securities
Act</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) Section&nbsp;21E of the U.S. Securities Exchange Act of 1934, as
amended (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange Act</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), and the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
may include words such as &#8220;believe&#8221;, &#8220;expect&#8221;, &#8220;estimate&#8221;, &#8220;project&#8221;,
&#8220;anticipate&#8221;, &#8220;should&#8221;, &#8220;intend&#8221;, &#8220;probability&#8221;, &#8220;risk&#8221;, &#8220;VaR&#8221;, &#8220;target&#8221;,
&#8220;goal&#8221;, &#8220;objective&#8221; and similar expressions or variations on such expressions
and includes statements regarding future growth rates. Forward-looking
statements are not guarantees of future performance and involve risks and
uncertainties, and actual results may differ materially from those in the
forward-looking statements as a result of various factors. The accompanying
information in this Annual Report, including, without limitation, the
information under the items listed below, identifies important factors that
could cause such differences: </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 3. Key Information&#8212;Risk Factors&#8221;;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 4. Information on the Company&#8221;;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 5. Operating and Financial Review
and Prospects&#8221;; and </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 11. Quantitative and Qualitative
Disclosures About Market Risk&#8221;. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other important factors that could
cause actual results to differ materially from those in forward-looking statements
include, among others:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">political, economic and business
conditions in Spain, the European Union (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EU</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), Latin America, Turkey,
the United States and other regions, countries or territories in which we
operate;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">our ability to comply with various
legal and regulatory regimes and the impact of changes in applicable laws and
regulations, including increased capital and provision requirements and taxation,
and steps taken towards achieving an EU fiscal and banking union;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the monetary, interest rate and other
policies of central banks in the EU, Spain, the United States, Mexico, Turkey
and elsewhere; </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">changes or volatility in interest
rates, foreign exchange rates (including the euro to U.S. dollar exchange
rate), asset prices, equity markets, commodity prices, inflation or deflation;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the possible political, economic and
regulatory impacts related to the United Kingdom&#8217;s proposed withdrawal from the
European Union; </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">market adjustments in the real estate
sectors in Spain, Mexico and the United States;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the effects of competition in the
markets in which we operate, which may be influenced by regulation or
deregulation; </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">changes in consumer spending and savings
habits, including changes in government policies which may influence spending,
saving and investment decisions; </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">adverse developments in emerging
countries, in particular Latin America and Turkey, including unfavorable
political and economic developments, social instability and changes in
governmental policies, including expropriation, nationalization, international
ownership legislation, interest rate caps and tax policies;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">our ability to hedge certain risks
economically; </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">downgrades in our credit ratings or in
the Kingdom of Spain&#8217;s credit ratings;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the success of our acquisitions,
divestitures, mergers and strategic alliances;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">our ability to make payments on certain
substantial unfunded amounts relating to commitments with personnel;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the performance of our international
operations and our ability to manage such operations;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">weaknesses or failures in our Group&#8217;s
internal or outsourced processes, systems (including information technology
systems) and security;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">weaknesses or failures of our
anti-money laundering or anti-terrorism programs, or of our internal policies,
procedures, systems and other mitigating measures designed to ensure compliance
with applicable anti-corruption laws and sanctions regulations;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">security breaches, including
cyber-attacks;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the outcome of legal and regulatory
actions and proceedings, both those to which the Group is currently exposed and
any others which may arise in the future, including actions and proceedings
related to former subsidiaries of the Group or in respect of which the Group
may have indemnification obligations; </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">actions that are incompatible with our
ethics and compliance standards, and our failure to timely detect or remedy any
such actions;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">our success in managing the risks
involved in the foregoing, which depends, among other things, on our ability to
anticipate events that are not captured by the statistical models we use; and </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">force majeure</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and other events beyond our control.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Readers are cautioned not to
place undue reliance on such forward-looking statements, which speak only as of
the date hereof. We undertake no obligation to release publicly the result of
any revisions to these forward-looking statements which may be made to reflect
events or circumstances after the date hereof, including, without limitation,
changes in our business or acquisition strategy or planned capital
expenditures, or to reflect the occurrence of unanticipated events.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:center;"><a name="_DV_C79_1"></a><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">PRESENTATION OF FINANCIAL INFORMATION</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Accounting
Principles</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><a name="_DV_M131_0"></a><a name="_DV_M144_0"></a><a name="_DV_M145_0"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under Regulation (EC) no. 1606/2002 of the European Parliament
and of the Council of July 19, 2002, all companies governed by the law of an EU
Member State and whose securities are admitted to trading on a regulated market
of any Member State must prepare their consolidated financial statements for
the years beginning on or after January 1, 2005 in conformity with <a name="_DV_C23"></a>EU-IFRS. The Bank of Spain issued Circular 4/2017 of
November 27, 2017 (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Circular 4/2017</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), which replaced Circular 4/2004 of
December 22, 2004, on Public and Confidential Financial Reporting Rules and Formats
(&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Circular 4/2004</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) for financial statements relating to periods ended
January 1, 2018 or thereafter.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">There are no differences between EU-IFRS required to be
applied under the Bank of Spain&#8217;s Circular 4/2004 and Circular 4/2017 and
IFRS-IASB for the years ended December 31, 2018, 2017 and 2016. The
Consolidated Financial Statements included in this Annual Report have been
prepared in compliance with IFRS-IASB and in accordance with EU-IFRS required
to be applied under the Bank of Spain&#8217;s Circular 4/2004 and Circular 4/2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The financial information as of and for the years ended
December 31, 2017, 2016, 2015 and 2014 may differ from previously reported
financial information as of such dates and for such periods in our respective
annual reports on Form 20-F for certain prior years, as a result of the
modifications referred to below (see &#8220;&#8213;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in Accounting Policies</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;
and &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in Operating Segments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and certain retrospective
adjustments made in prior years.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><a name="_cp_text_1_17"></a><a name="_DV_M148_0"></a><a name="_DV_M149_0"></a><a name="_DV_M150_0"></a><a name="_DV_M151_0"></a><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in Accounting Policies</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For a description of our critical accounting policies, see
&#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 5. Operating and Financial Review and Prospects&#8212;Critical Accounting
Policies</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Set forth below are certain material changes to our
accounting policies in 2018. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Application
of IFRS 9</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">of January 1, 2018,
IFRS 9 &#8220;Financial instruments&#8221; replaced IAS 39 &#8220;Financial Instruments:
Recognition and Measurement&#8221; and introduced changes in the requirements for the
classification and measurement of financial assets and financial liabilities,
the impairment of financial assets and hedge accounting. The impact of the
first application of IFRS 9, which was significant, is presented in Note 2.4 to
the Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As permitted by the standard, IFRS
9 has not been applied retrospectively for previous years. However, the
financial information for 2017 and 2016 included in the Consolidated Financial
Statements, which was prepared in accordance with the accounting policies and
valuation criteria applicable under IAS 39, has been subject to the following
non-significant modifications in order to improve its comparability with
financial information for 2018:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.55pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Financial assets recorded under &#8220;Available-for-sale financial
assets&#8221; as of December 31, 2017 and 2016 in the consolidated financial
statements included in the annual reports on Form 20-F for such years have been
recorded under &#8220;Financial assets at fair value through other comprehensive
income&#8221; (a new category introduced by IFRS 9) in the Consolidated Financial
Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.55pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Financial assets recorded under &#8220;Loans and receivables&#8221; as of
December 31, 2017 and 2016 in the consolidated financial statements included in
the annual reports on Form 20-F for such years have been recorded under &#8220;Financial
assets at amortized cost&#8221; (a new category introduced by IFRS 9) in the
Consolidated Financial Statements.</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:53.55pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial assets recorded under &#8220;Held-to-maturity investments&#8221; as
of December 31, 2017 and 2016 in the consolidated financial statements included
in the annual reports on Form 20-F for such years have been recorded as &#8220;Debt
securities&#8221; in the new &#8220;Financial assets at amortized cost&#8221; portfolio in the
Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Expense recorded under
&#8220;Impairment or reversal of impairment on financial assets not measured at fair
value through profit or loss &#8211; Available-for-sale financial assets&#8221; for the
years ended December 31, 2017 and 2016 in the consolidated financial statements
included in the annual reports on Form 20-F for such years has been recorded
under &#8220;Impairment or reversal of impairment on financial assets not measured at
fair value through profit or loss or net gains by modification - Financial
assets at fair value through other comprehensive income&#8221; (a heading introduced
following the implementation of IFRS 9) in the Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Expense recorded under
&#8220;Impairment or reversal of impairment on financial assets not measured at fair
value through profit or loss &#8211; Loans and receivables&#8221; for the years ended
December 31, 2017 and 2016 in the consolidated financial statements included in
the annual reports on Form 20-F for such years has been recorded under
&#8220;Impairment or reversal of impairment on financial assets not measured at fair
value through profit or loss or net gains by modification - Financial assets at
amortized cost&#8221; (a heading introduced following the implementation of IFRS 9)
in the Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Such modifications have
not involved the revaluation of our financial assets as of December 31, 2017
and 2016 under IFRS 9 or the application of IFRS 9 in any other respect, and no
other changes have been made in our consolidated financial statements for such
years as a result thereof.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Hyperinflationary
economies</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the Group&#8217;s experience of applying IAS 29
&#8220;Financial information in hyperinflationary economies&#8221; in connection with its
subsidiaries </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">in Venezuela, we believe that
there is significant complexity in recording the accounting impacts of
inflation and changes in exchange rates in a way that allows financial
information to be meaningful, especially where there is not a consistent
evolution between inflation and exchange rates in a period.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">With the aim of improving the reliability and relevance of
the financial information presented, during 2018 the Group adopted a new
accounting policy which involves recording in a single line item,
&#8220;Shareholders&#8217; funds &#8211; retained earnings&#8221;, both the revaluation of non-monetary
items due to the effect of hyperinflation and the differences generated when
translating the financial statements of the subsidiaries located in
hyperinflationary economies into euros. Prior to the accounting policy change,
translation differences were recorded under &#8220;Accumulated other comprehensive
income &#8211; items that may be reclassified to profit or loss &#8211; foreign currency
translation&#8221;. We believe that the accounting policy change, implemented in
accordance with IAS 8, provides more reliable and relevant information with
regards to operations in hyperinflationary economies. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In order to make the financial
information of prior years comparable with the financial information of 2018,
we have made the following modifications relating to the Group companies in
Venezuela (an economy that was considered to be hyperinflationary in 2017 and
2016):</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">we have reclassified &#8364;1,853 million,
&#8364;1,836 million and &#8364;1,826 million from &#8220;Accumulated other comprehensive income
&#8211; items that may be reclassified to profit or loss &#8211; foreign currency
translation&#8221; to &#8220;Shareholders&#8217; funds &#8211; retained earnings&#8221; as of December 31,
2017, December 31, 2016 and January 1, 2016, respectively; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">we have reclassified &#8364;828 million, &#8364;817
million and &#8364;816 million from &#8220;Non-controlling interest &#8211;Accumulated other
comprehensive income&#8221; to &#8220;Non-controlling interest &#8211; other&#8221; as of December 31,
2017, December 31, 2016 and January 1, 2016, respectively.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">No reclassifications were necessary
for Argentina since the Argentinian economy was considered to be
hyperinflationary in 2018 for the first time.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The reclassification
corresponding to January 1, 2018, 2017 and 2016 is recorded as &#8220;Effects of
changes in accounting policies&#8221; in the consolidated statements of changes in equity
corresponding to the years ended December 31, 2018, 2017 and 2016. In the
consolidated balance sheets as of December 31, 2018, 2017 and 2016, the heading
&#8220;Shareholders&#8217; funds &#8211; retained earnings&#8221; includes both the translation differences
and the effects of the restatement for inflation for the years 2018, 2017 and
2016</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For additional information see Notes 1.3 and 2.2.20 to our
Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes
in Operating Segments</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">There have been no significant
changes in the composition of the operating segments of the BBVA Group during
2018. Since 2018, our Mexico segment includes BBVA Bancomer&#8217;s branch in Houston
(which was part of our United States segment in previous years). </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, there have been certain non-significant
changes affecting the composition of our Banking Activity in Spain, Non Core
Real Estate and Corporate Center segments. The financial information for 2017
relating to such segments included in the Consolidated Financial Statements and
in this Annual Report has been revised accordingly to improve its comparability
with financial information for 2018. However, financial information for 2016
has not been revised as a result thereof. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Statistical
and Financial Information </font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><a name="_DV_M146_0"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following principles should
be noted in reviewing the statistical and financial information contained
herein:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><a name="_DV_M147_0"></a><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Average balances, when used, are based
on the beginning and the month-end balances during each year. We do not believe
that such monthly averages present trends that are materially different from
those that would be presented by daily averages.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Unless otherwise stated, any reference
to loans refers to both loans and advances.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial information with respect to
segments or subsidiaries may not reflect consolidation adjustments.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Certain
numerical information in this Annual Report may not compute due to rounding. In
addition, information regarding period-to-period changes is based on numbers
which have not been rounded.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">PART I</font></b></font></p>

<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 1.&#160;&#160;&#160;&#160;&#160; IDENTITY OF DIRECTORS,
SENIOR MANAGEMENT AND ADVISERS </font></b></font></h1>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">A.&#160;&#160; Director and Senior Management</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable. </font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">B.&#160;&#160; Advisers</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable. </font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">C.&#160;&#160; Auditors</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable. </font></font></p>

<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 2.&#160;&#160;&#160;&#160;&#160; OFFER STATISTICS AND
EXPECTED TIMETABLE </font></b></font></h1>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><a name="_DV_M102"></a><a name="_DV_M105"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<h1 style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;">&nbsp;</h1>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">5</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_11"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h1 style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 3. KEY INFORMATION </font></b></font></h1>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-indent:-18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">A.</font></b><b><font face="Times New Roman" style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">Selected Consolidated Financial Data</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The historical financial information set forth below for the years ended
December 31, 2018, 2017 and 2016 has been selected from, and should be read
together with, the Consolidated Financial Statements included herein. The
audited consolidated financial statements for 2015 and 2014 are not included in
this document, and the historical financial information set forth below for
such years instead are derived from the respective financial statements
included in annual reports on Form 20-F for certain prior years previously
filed by us with retrospective adjustments made for the application of certain
changes in accounting principles.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For information concerning the preparation and presentation
of the financial information contained herein, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Presentation of
Financial Information&#8221;.</font></i></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=33% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Year Ended December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td nowrap valign=bottom width=33% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2015</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2014</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap valign=bottom width=33% style="height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 nowrap valign=bottom width=67% style="border:none;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros, Except
  Per Share/ADS Data (In Euros))</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Consolidated Statement of Income Data</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest and other income </font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29,831</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29,296</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27,708</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24,783 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22,838 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest expense</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12,239)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11,537)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10,648)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(8,761)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(8,456)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,591</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,758</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,059</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,022 </font></b></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,382 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Dividend income</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">157</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">334</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">467</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">415 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">531 </font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=33% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Share of profit or loss of entities accounted for
  using the equity method </font></font></p>
  </td>
 <td nowrap width=13% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=14% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4</font></font></p>
  </td>
 <td nowrap width=13% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">25</font></font></p>
  </td>
 <td nowrap width=13% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">174 </font></font></p>
  </td>
 <td nowrap width=14% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">343 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Fee and commission income </font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,132</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,150</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,804</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,340 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,530 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Fee and commission expense</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,253)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,229)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,086)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,729)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,356)</font></font></p>
  </td>
 </tr>
<tr style="height:30.6pt;">
  <td width=33% style="height:30.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities (1)</font></font></p>
  </td>
 <td nowrap width=13% style="height:30.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,234</font></font></p>
  </td>
 <td nowrap width=14% style="height:30.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">938</font></font></p>
  </td>
 <td nowrap width=13% style="height:30.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,661</font></font></p>
  </td>
 <td nowrap width=13% style="height:30.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">865 </font></font></p>
  </td>
 <td nowrap width=14% style="height:30.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,435 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Exchange differences, net</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,030</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">472</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,165 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">699 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">949</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,439</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,272</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,315 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">959 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating expense</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,101)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,223)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,128)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,285)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,705)</font></font></p>
  </td>
 </tr>
<tr style="height:1.0cm;">
  <td width=33% style="height:1.0cm;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income on insurance and reinsurance contracts</font></font></p>
  </td>
 <td nowrap width=13% style="height:1.0cm;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,949</font></font></p>
  </td>
 <td nowrap width=14% style="height:1.0cm;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,342</font></font></p>
  </td>
 <td nowrap width=13% style="height:1.0cm;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,652</font></font></p>
  </td>
 <td nowrap width=13% style="height:1.0cm;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,678</font></font></p>
  </td>
 <td nowrap width=14% style="height:1.0cm;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,622</font></font></p>
  </td>
 </tr>
<tr style="height:1.0cm;">
  <td width=33% style="height:1.0cm;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Expense on insurance and reinsurance contracts</font></font></p>
  </td>
 <td nowrap width=13% style="height:1.0cm;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,894)</font></font></p>
  </td>
 <td nowrap width=14% style="height:1.0cm;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,272)</font></font></p>
  </td>
 <td nowrap width=13% style="height:1.0cm;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,545)</font></font></p>
  </td>
 <td nowrap width=13% style="height:1.0cm;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,599)</font></font></p>
  </td>
 <td nowrap width=14% style="height:1.0cm;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,714)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,747</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">25,270</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24,653</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,362 </font></b></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20,725 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10,494)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11,112)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11,366)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10,836)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(9,414)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,208)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,387)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,426)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,272)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,145)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(373)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(745)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,186)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(731)</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,142)</font></font></p>
  </td>
 </tr>
<tr style="height:48.6pt;">
  <td width=33% style="height:48.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td nowrap width=13% style="height:48.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3,981)</font></font></p>
  </td>
 <td nowrap width=14% style="height:48.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4,803)</font></font></p>
  </td>
 <td nowrap width=13% style="height:48.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3,801)</font></font></p>
  </td>
 <td nowrap width=13% style="height:48.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4,272)</font></font></p>
  </td>
 <td nowrap width=14% style="height:48.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4,340)</font></font></p>
  </td>
 </tr>
<tr style="height:16.35pt;">
  <td width=33% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net operating income</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,691</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,222</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,874</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,251 </font></b></font></p>
  </td>
 <td nowrap width=14% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,684 </font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=33% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on
  non-financial assets</font></font></p>
  </td>
 <td nowrap width=13% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(138)</font></font></p>
  </td>
 <td nowrap width=14% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(364)</font></font></p>
  </td>
 <td nowrap width=13% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(521)</font></font></p>
  </td>
 <td nowrap width=13% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(273)</font></font></p>
  </td>
 <td nowrap width=14% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(297)</font></font></p>
  </td>
 </tr>
<tr style="height:35.45pt;">
  <td width=33% style="height:35.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gains (losses) on derecognition of non-financial
  assets and subsidiaries, net</font></font></p>
  </td>
 <td nowrap width=13% style="height:35.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">78</font></font></p>
  </td>
 <td nowrap width=14% style="height:35.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47</font></font></p>
  </td>
 <td nowrap width=13% style="height:35.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">70 </font></font></p>
  </td>
 <td nowrap width=13% style="height:35.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,135)</font></font></p>
  </td>
 <td nowrap width=14% style="height:35.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">46 </font></font></p>
  </td>
 </tr>
<tr style="height:26.45pt;">
  <td width=33% style="height:26.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Negative goodwill recognized
  in profit or loss</font></font></p>
  </td>
 <td nowrap width=13% style="height:26.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:26.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:26.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:26.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26 </font></font></p>
  </td>
 <td nowrap width=14% style="height:26.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:42.0pt;">
  <td width=33% style="height:42.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit (loss) from non-current assets and disposal
  groups classified as held for sale not qualifying as discontinued operations</font></font></p>
  </td>
 <td nowrap width=13% style="height:42.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">815</font></font></p>
  </td>
 <td nowrap width=14% style="height:42.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26</font></font></p>
  </td>
 <td nowrap width=13% style="height:42.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(31)</font></font></p>
  </td>
 <td nowrap width=13% style="height:42.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">734 </font></font></p>
  </td>
 <td nowrap width=14% style="height:42.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(453)</font></font></p>
  </td>
 </tr>
<tr style="height:27.6pt;">
  <td nowrap width=33% style="height:27.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit before tax</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:27.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,446</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:27.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,931</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:27.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,392</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:27.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,603 </font></b></font></p>
  </td>
 <td nowrap width=14% style="height:27.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,980 </font></b></font></p>
  </td>
 </tr>
<tr style="height:29.1pt;">
  <td width=33% style="height:29.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax (expense) or income related to profit or loss
  from continuing operations</font></font></p>
  </td>
 <td nowrap width=13% style="height:29.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,295)</font></font></p>
  </td>
 <td nowrap width=14% style="height:29.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,169)</font></font></p>
  </td>
 <td nowrap width=13% style="height:29.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,699)</font></font></p>
  </td>
 <td nowrap width=13% style="height:29.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,274)</font></font></p>
  </td>
 <td nowrap width=14% style="height:29.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(898)</font></font></p>
  </td>
 </tr>
<tr style="height:20.1pt;">
  <td nowrap width=33% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,151</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,762</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,693</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,328 </font></b></font></p>
  </td>
 <td nowrap width=14% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,082 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,151</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,762</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,693</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,328 </font></b></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,082 </font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=33% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,324</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,519</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,475</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,642 </font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,618 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">827</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,243</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,218</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">686 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">464 </font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=33% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Per share/ADS(2) Data</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.92</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.71</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.71</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.52</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.50</font></font></p>
  </td>
 </tr>
<tr style="height:32.45pt;">
  <td width=33% style="height:32.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Diluted profit attributable to parent company (3)</font></font></p>
  </td>
 <td nowrap width=13% style="height:32.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.76</font></font></p>
  </td>
 <td nowrap width=14% style="height:32.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.48</font></font></p>
  </td>
 <td nowrap width=13% style="height:32.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.49</font></font></p>
  </td>
 <td nowrap width=13% style="height:32.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.37</font></font></p>
  </td>
 <td nowrap width=14% style="height:32.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.40</font></font></p>
  </td>
 </tr>
<tr style="height:20.1pt;">
  <td width=33% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Basic profit attributable to parent company</font></font></p>
  </td>
 <td nowrap width=13% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.76</font></font></p>
  </td>
 <td nowrap width=14% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.48</font></font></p>
  </td>
 <td nowrap width=13% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.49</font></font></p>
  </td>
 <td nowrap width=13% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.37</font></font></p>
  </td>
 <td nowrap width=14% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.40</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Dividends declared (In Euros)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.250</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.170</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.160</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.160</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.080</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Dividends declared (In U.S. dollars)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.286</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.204</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.169</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.174</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.097</font></font></p>
  </td>
 </tr>
<tr style="height:26.1pt;">
  <td valign=bottom width=33% style="height:26.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Number of shares outstanding (at period end)</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:26.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,667,886,580 </font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:26.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,667,886,580 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:26.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,566,615,242 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:26.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,366,680,118 </font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:26.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,171,338,995 </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=33% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=6 valign=bottom width=100% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)&#160;&#160;&#160; Comprises the
  following income statement line items contained in the Consolidated Financial
  Statements: &#8220;Gains (losses) on derecognition of financial assets and
  liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains
  (losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains
  (losses) on non-trading financial assets mandatorily at fair value through
  profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities
  designated at fair value through profit or loss, net&#8221; and &#8220;Gains (losses)
  from hedge accounting, net&#8221;.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2)&#160;&#160;&#160; Each American
  Depositary Share (</font><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8220;ADS&#8221;</font></b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">) represents the right to receive one ordinary
  share.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3)&#160;&#160;&#160; Calculated on the
  basis of the weighted average number of BBVA&#8217;s ordinary shares outstanding
  during the relevant period&#160; including the average number of estimated shares
  to be converted and, for comparative purposes, a correction factor to account
  for the capital increases carried out in April 2014, October 2014, December
  2014, April 2015, October 2015, December 2015, April 2016, October 2016 and
  April 2017, excluding the weighted average number of treasury shares during
  the period (6,668 million, 6,642 million, 6,468 million, 6,290 million and
  5,905 million&#160; shares in 2018, 2017, 2016, 2015 and 2014, respectively).</font></font></p>
  </td>
 </tr>
</table></div>




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<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:20.25pt;">
  <td nowrap valign=bottom width=49% style="height:20.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 nowrap valign=bottom width=51% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of and for Year Ended
  December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=49% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2015</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2014</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=49% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 valign=bottom width=51% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros, Except&#160;
  Percentages)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Consolidated Balance Sheet Data</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total assets </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">676,689 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">690,059 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">731,856 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">749,855 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">631,942 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net assets</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">52,874 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">53,323 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">55,428 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">55,282 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51,609 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Common stock</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,267 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,267 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,218 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,120 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,024 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial assets at amortized cost (1)</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">419,660 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">445,275 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">483,672 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">471,828 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">376,086 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial liabilities at amortized cost - Customer
  deposits</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">375,970 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">376,379 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">401,465 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">403,362 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">319,334 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Debt certificates </font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">63,970 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">63,915 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">76,375 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">81,980 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">71,917 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Non-controlling interest</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,764 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,979 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,064 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,992 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,511 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total equity</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">52,874 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">53,323 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">55,428 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">55,282 </font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51,609 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Consolidated ratios</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profitability ratios:</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=49% style="height:13.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest margin (2)</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.59%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.52%</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.32%</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.27%</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.40%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=49% style="height:13.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Return on average total assets (3) </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.9%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.7%</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.6%</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.5%</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.5%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=49% style="height:13.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Return on average shareholders&#8217; funds (4) </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10.1%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.7%</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.7%</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.3%</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Credit quality data</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white style="border:none;"><font color=white face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=49% style="height:13.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loan loss reserve (5)</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,217 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,784 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,016 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,742 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,273 </font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=49% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loan loss reserve as a percentage of financial
  assets at amortized cost (1)</font></font></p>
  </td>
 <td nowrap width=9% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.91%</font></font></p>
  </td>
 <td nowrap width=12% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.87%</font></font></p>
  </td>
 <td nowrap width=10% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.31%</font></font></p>
  </td>
 <td nowrap width=10% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.97%</font></font></p>
  </td>
 <td nowrap width=10% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.83%</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=top width=49% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Non-performing asset ratio (NPA ratio) (6)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.82%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.49%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.90%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.37%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.98%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impaired loans and advances to customers at
  amortized cost</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,349 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19,390 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22,915 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">25,333 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22,703 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=49% style="height:13.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impaired contingent liabilities to customers (7)</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">740 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">739 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">680 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">664 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">413 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=49% style="height:12.75pt;padding:0cm 0cm 0cm 18.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,089 </font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20,130 </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,595 </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">25,997 </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,116 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=49% style="height:12.75pt;padding:0cm 0cm 0cm 18.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white style="border:none;"><font color=white face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=49% style="height:13.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and advances to customers (8)</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">400,049 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">401,074 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">430,629 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">432,921 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">353,029 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=49% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Contingent liabilities to customers</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47,575 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47,671 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">50,540 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">49,876 </font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33,741 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=49% style="height:12.75pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">447,624 </font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">448,745 </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">481,169 </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">482,797 </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">386,770 </font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=49% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=6 valign=bottom width=100% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)&#160;&#160; &#160;&#160;With respect to 2015
  and 2014, consists exclusively of assets recorded under &#8220;Loans and
  receivables&#8221; as of December 31, 2015 and 2014, respectively, in the
  consolidated financial statements included in the annual reports on Form 20-F
  for such years. With respect to 2017 and 2016, see &#8220;</font><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Presentation of
  Financial Information&#8212;Application of IFRS 9&#8221;.</font></i></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(</font></i></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2)&#160;&#160;&#160; Represents net interest
  income as a percentage of average total assets.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3)&#160;&#160;&#160; Represents profit as a
  percentage of average total assets.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4)&#160;&#160;&#160; Represents profit
  attributable to parent company for the year as a percentage of average
  shareholders&#8217; funds for the year, excluding &#8220;Non-controlling interest&#8221;.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5)&#160;&#160;&#160; Represents impairment
  losses on loans and advances at amortized cost. </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6)&#160;&#160;&#160;&#160; Represents the sum of
  impaired loans and advances to customers and impaired contingent liabilities
  to customers divided by the sum of loans and advances to customers and
  contingent liabilities to customers.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(7)&#160;&#160;&#160; We include contingent
  liabilities in the calculation of our non-performing asset ratio (NPA ratio).
  We believe that impaired contingent liabilities should be included in the
  calculation of our NPA ratio where we have reason to know, as of the
  reporting date, that they are impaired. The credit risk associated with contingent
  liabilities (consisting mainly of financial guarantees provided to
  third-parties on behalf of our customers) is evaluated and provisioned
  according to the probability of default of our customers&#8217; obligations. If
  impaired contingent liabilities were not included in the calculation of our
  NPA ratio, such ratio would be higher for the periods covered, amounting to
  approximately 4.1%, 4.8%, 5.3%, 5.9% and 6.4% as of December 31, 2018, 2017,
  2016, 2015 and 2014, respectively. </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(8)&#160;&#160;&#160; Includes impaired loans
  and advances.</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">7</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h2 style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">B.&#160;&#160; Capitalization and
Indebtedness</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<h2 style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">C.&#160;&#160; Reasons for the Offer
and Use of Proceeds</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<h2 style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;line-height:150%;">D.&#160;&#160; Risk Factors</font></b></font></h2>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-indent:-8.5pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">Macroeconomic Risks</font></b></font></h4>

<p style="border:none;margin-bottom:11.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Economic
conditions in the countries where the Group operates could have a material
adverse effect on the Group&#8217;s business, financial condition and results of
operations</font></i></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Despite the sustained recent growth of the
global economy, uncertainty remains. The deterioration of economic conditions
in the countries where the Group operates could adversely affect the cost and
availability of funding for the Group, the quality of the Group&#8217;s loan and
investment securities portfolios and levels of deposits and profitability,
which may also require the Group to take impairments on its exposures or otherwise
adversely affect the Group&#8217;s business, financial condition and results of
operations. In addition, the process the Group uses to estimate losses inherent
in its credit exposure requires complex judgments, including forecasts of
economic conditions and how these economic conditions might impair the ability
of its borrowers to repay their loans.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">8</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The degree of
uncertainty concerning economic conditions may adversely affect the accuracy of
the Group&#8217;s estimates, which may, in turn, affect the reliability of the
process to determine and the sufficiency of the Group&#8217;s loan loss provisions.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;page-break-after:avoid;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group
faces, among others, the following economic risks:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">weak economic growth or recession in
the countries where it operates;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">changes in the institutional environment
in the countries where it operates could evolve into sudden and intense
economic downturns and/or regulatory changes;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a global trade war
triggered by increasing tariffs and non-tariff barriers between the main
economic blocks. The increase in trade barriers might adversely affect global
trade flows both directly and indirectly, through the increase in financial
volatility and the decrease in confidence levels of businesses and households,
which could trigger an intense global economic slowdown or even a recession;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">deflation, mainly in Europe, or
significant inflation, such as the significant inflation recently experienced
by Venezuela</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and Argentina and, to a lesser extent, Turkey;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">changes in foreign exchange rates
resulting in changes in the reported earnings of the Group&#8217;s subsidiaries,
particularly in Venezuela and Argentina, together with the relevant impact on
profits, assets (including risk-weighted assets) and liabilities;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a lower interest rate environment, or
even a prolonged period of negative interest rates in some areas where the
Group operates, which could lead to decreased lending margins and lower returns
on assets;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a higher interest rate environment,
including as a result of an increase in interest rates by the Federal Reserve
or any further tightening of monetary policies, including to address potential
inflationary pressures and currency devaluations in Latin America, which could
endanger economic growth and make it more difficult for customers of the
Group&#8217;s mortgage and consumer loan products to service their debts;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">adverse developments in the real estate
market, especially in Spain, Mexico, the United States and Turkey, given the
Group&#8217;s exposures to such markets;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">poor employment growth and structural
challenges restricting employment growth, such as in Spain, where unemployment
has remained relatively high, which may negatively affect household income
levels of the Group&#8217;s retail customers and may adversely affect the
recoverability of the Group&#8217;s retail loans, resulting in increased loan loss
provisions;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">substantially lower oil prices, which
could particularly affect producing areas, such as Venezuela, Mexico, Texas or
Colombia, to which the Group is materially exposed or, conversely,
substantially higher oil prices, which could have a negative impact on
disposable income levels in oil consuming areas, such as Spain or Turkey, where
the Group is also materially exposed;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">changes in laws, regulations and
policies as a result of election processes in the different geographies in
which the Group operates, which may negatively affect the Group&#8217;s business or
customers in those geographies and other geographies in which the Group
operates;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the potential exit by an EU Member
State from the European Monetary Union, which could materially adversely affect
the European and global economy, cause a redenomination of financial
instruments or other contractual obligations from the euro to a different
currency and substantially disrupt capital, interbank, banking and other
markets, among other effects;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the possible political, economic and
regulatory impacts related to the United Kingdom&#8217;s proposed withdrawal from the
European Union; and</font></font></p>


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</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:48.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">an eventual government default on or
restructuring of public debt, which could affect the Group primarily in two
ways: directly, through portfolio losses, and indirectly, through instabilities
that a default on or restructuring of public debt could cause to the banking
system as a whole, particularly since commercial banks&#8217; exposure to government
debt is generally high in several countries in which the Group operates.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For additional information relating to certain risks that the Group faces
in Spain, see &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Since the Group&#8217;s loan portfolio is highly concentrated in
Spain, adverse changes affecting the Spanish economy could have a material
adverse effect on its financial condition</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;. For additional information
relating to certain risks that the Group faces in emerging market economies
such as Latin America and Turkey, see &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group may be materially
adversely affected by developments in the emerging markets where it operates</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:24.5pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any of the above
risks could have a material adverse effect on the Group&#8217;s business, financial
condition and results of operations.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Since
the Group&#8217;s loan portfolio is highly concentrated in Spain, adverse changes
affecting the Spanish economy could have a material adverse effect on its
financial condition</font></i></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group has historically developed its
lending business in Spain, which </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">continues</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> to be
one of the main focuses of its business. After rapid economic growth until
2007, Spanish gross domestic product (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">GDP</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) contracted in the period
2009-10 and 2012-13. The effects of the financial crisis were particularly
pronounced in Spain given its heightened need for foreign financing as
reflected by its high current account deficit, resulting from the gap between
domestic investment and savings, and its public deficit. The current account
imbalance has been corrected and the public deficit is in a downward trend,
with GDP growth above 3% in 2015, 2016 and 2017, falling to 2.5% in </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2018,</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and unemployment</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">falling to 15.3% in </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">201</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">8. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">While GDP growth is expected
to remain positive in the next years, there is uncertainty regarding the
sustainability of external growth as well as doubts over Spain&#8217;s economic
policy. R</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">eal or perceived
difficulties in servicing public or private debt, triggered by foreign or
domestic factors such as an increase in global financial risk or a decrease in
the rate of domestic growth, could increase Spain&#8217;s financing costs, hindering
economic growth, employment and households&#8217; gross disposable income.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Spanish economy is particularly
sensitive to economic conditions in the Eurozone, the main market for Spanish
goods and services exports. Accordingly, adverse changes in economic conditions
in the Eurozone might have an adverse effect on Spanish economic growth. Given
the relevance of the Group&#8217;s loan portfolio in Spain, any adverse changes
affecting the Spanish economy could have a material adverse effect on the
Group&#8217;s business, financial condition and results of operations.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We
may be adversely affected by political events in Catalonia</font></i></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Spanish business includes
extensive operations in Catalonia. Although actions carried out by the Spanish
Government have helped diminish the level of uncertainty in the region
resulting from its pro-independence movement, regional elections carried out in
December 2017 resulted in pro-independence parties winning the majority of
seats. As of the date of this Annual Report, there is still significant
uncertainty regarding the outcome of political and social tensions in
Catalonia, which could result in volatile capital markets and other financing
conditions in Spain or otherwise adversely affect the environment in which we
operate in Catalonia and the rest of Spain, any of which could have an adverse
effect on our business, liquidity, financial condition and results of
operations.</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any decline in the Kingdom of Spain&#8217;s sovereign credit
ratings could adversely affect the Group&#8217;s business, financial condition and
results of operations</font></i></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Since the Bank is a Spanish company with
substantial operations in Spain, its </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">credit</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> ratings
may be adversely affected by the assessment by rating agencies of the
creditworthiness of the Kingdom of Spain. As a result, any decline in the
Kingdom of Spain&#8217;s sovereign credit ratings could result in a decline in the
Bank&#8217;s credit ratings. In addition, the Group holds a substantial amount of
securities issued by the Kingdom of Spain, autonomous communities within Spain
and other Spanish issuers. Any decline in the Kingdom of Spain&#8217;s credit ratings
could adversely affect the value of the Kingdom of Spain&#8217;s and other public or
private Spanish issuers&#8217; respective securities held by the Group in its various
portfolios or otherwise materially adversely affect the Group&#8217;s business,
financial condition and results of operations. Furthermore, the counterparties
to many of the Group&#8217;s loan agreements could be similarly affected by any
decline in the Kingdom of Spain&#8217;s credit ratings, which could limit their ability
to raise additional capital or otherwise adversely affect their ability to
repay their outstanding commitments to the Group and, in turn, materially and
adversely affect the Group&#8217;s business, financial condition and results of
operations.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
Group may be materially adversely affected by developments in the emerging
markets where it operates</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The economies of some of the emerging markets where the Group operates,
mainly Latin America and Turkey, experienced significant volatility in recent
decades, characterized, in some cases, by slow or declining growth, declining
investment, volatile interest rates, volatile currency values, hyperinflation
and political tension.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Emerging markets are generally
subject to greater risks than more developed markets. For example, there is
typically a greater risk of loss in operating in emerging markets from
unfavorable political and economic developments, both global and domestic,
social and geopolitical instability, changes in economic policies (such as
monetary, fiscal and macroprudential policies) or governmental decisions,
including expropriation, nationalization, international ownership legislation,
interest-rate caps, restrictions on business practices such as on commissions
that can be charged, currency and exchange controls and tax policies and
political unrest. In particular, Argentina, where the Bank operates through
BBVA Banco Franc&#233;s S.A. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Banco Franc&#233;s</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), and Turkey, where the
Bank operates through Garanti, have recently experienced significant exchange
rate volatility (for example, the Argentine peso lost a significant portion of
its value against the U.S. dollar during the course of 2018),
rapidly-increasing interest rates and deteriorating economic conditions,
adversely affecting our operations in such countries and the value of the
related assets and liabilities when translated into euros.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, emerging markets
are affected by conditions in other related markets and in global financial
markets generally (such as U.S. interest rates and the U.S. dollar exchange
rate) and some are particularly affected by commodities price fluctuations,
which in turn may affect financial market conditions through exchange rate
fluctuations, interest rate volatility and deposits volatility. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Despite sustained</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> global
economic growth, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">there are increasing risks of
deterioration that might be triggered by a full-blown trade war, geopolitical
events or changes in financial risk appetite. If global economic conditions
deteriorate, the business, financial condition, operating results and cash
flows of the Bank&#8217;s subsidiaries in emerging economies, mainly in Latin America
and Turkey, may be materially adversely affected. Hyperinflation in Argentina
had a negative impact of &#8364;266 million in the &#8220;Profit attributable to parent
company&#8221; for 2018. For additional information, see Note 2.2.20 to the
Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Furthermore, financial turmoil in any particular emerging market could
negatively affect other emerging markets or the global economy in general.
Financial turmoil in a particular emerging market tends to adversely affect
exchange rates, stock prices and debt securities prices of other emerging
markets as investors move their money to more stable and developed markets, and
may reduce liquidity to companies located in the affected markets. An increase
in the perceived risks associated with investing in emerging economies in
general, or the emerging markets where the Group operates in particular, could
dampen capital flows to such economies and adversely affect such economies.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, any changes in laws, regulations and policies pursued by the
U.S. Government may adversely affect the emerging markets in which the Group
operates, particularly Mexico due to the trade and other ties between Mexico
and the United States. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Our business could be adversely affected by
global political developments, particularly with regard to U.S. policies that
affect Mexico</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></i></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If economic conditions in the emerging market economies
where the Group operates deteriorate, the Group&#8217;s business, financial condition
and results of operations could be materially adversely affected.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We
may be adversely affected by the United Kingdom&#8217;s planned exit from the
European Union</font></i></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In a referendum held in the United Kingdom on June 23, 2016, a majority
of those voting voted for the United Kingdom to leave the European Union
(referred to as &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Brexit</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). On March 29, 2017, the United Kingdom gave
formal notice under Article 50 of the Treaty on European Union officially
notifying the European Union of its decision to withdraw from the European
Union, which began a statutory two-year period during which officials from the
United Kingdom and the European Union have been negotiating the terms of the
United Kingdom&#8217;s withdrawal from, and future relationship with, the European
Union. No agreement has yet been reached and approved by the relevant parties
as of the date of this Annual Report. Extensions of this period must be
approved unanimously by all member states of the European Union. If no
agreement is reached and approved by March 29, 2019, and no extension is
agreed, the United Kingdom would automatically leave the European Union and EU
laws and regulations would cease to apply to the United Kingdom on such date
unless the United Kingdom revokes its formal notice under Article 50 of the
Treaty on European Union.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of the date of this Annual Report, the United Kingdom remains a member
of the European Union. However, Brexit has already affected and could continue
to adversely affect European and/or worldwide economic and market conditions
and could continue to contribute to instability in the global financial
markets. The long-term effects of Brexit will depend in part on whether the UK
Parliament approves an agreement negotiated with the Council of the European
Union, whether the United Kingdom leaves the European Union with no agreement
in place (referred to as a &#8220;hard Brexit&#8221;), or whether the United Kingdom
ultimately remains a member of the European Economic Area or the European
Union, as a result of a second referendum, new UK elections or otherwise.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> Group currently maintains a branch
in the United Kingdom, had 126 employees in the United Kingdom as of December
31, 2018, has significant cross-border outstandings with the United Kingdom,
primarily with banks and other financial institutions, as well as sovereign
risk exposure of &#8364;51 million as of December 31, 2018, and has a 39.06% stake in
the UK digital bank Atom Bank plc. In addition to its effects on the European
and global economy and financial markets, Brexit, and in particular a hard
Brexit, could impair or otherwise limit our ability to transact business in the
United Kingdom or elsewhere. In addition, we expect that Brexit could lead to
legal uncertainty and potentially divergent national laws and regulations as
the United Kingdom determines which European Union laws to replicate or
replace. If the United Kingdom were to significantly alter its regulations
affecting the banking industry, we could face significant new costs and
compliance difficulties as it may be time-consuming and expensive for us to
alter our internal operations in order to comply with new regulations. In
addition, we may face challenges in the recruitment and mobility of employees
as well as adverse effects from fluctuations in the value of the pound sterling
that may directly or indirectly affect the value of any assets of the Group,
including those assets, and their respective risk-weighted assets, denominated
in such currency. Moreover, it is possible that Brexit, particularly a hard
Brexit, could cause a recession in the United Kingdom as well as in the
European Union, including in Spain. Due to the ongoing political uncertainty as
regards the terms of the United Kingdom&#8217;s possible withdrawal from the European
Union and their future relationship, the precise impact on the business of the
Group is difficult to determine. Any of the above or other effects of Brexit
could have a material adverse effect on the Group&#8217;s business, financial
condition and results of operations.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our
business could be adversely affected by global political developments,
particularly with regard to U.S. policies that affect Mexico </font></i></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in economic, political and regulatory conditions in the United
States or in U.S. laws and policies governing foreign trade and foreign
relations could create uncertainty in the international markets and could have
a negative impact on the Mexican economy and public finances. This correlation
is due, in part, to the high level of economic activity between the two countries
generally, including the trade facilitated by the North American Free Trade
Agreement (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">NAFTA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), as well as due to their physical proximity.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Following the U.S. elections in November 2016 and the
change in the U.S. administration for the four-year period from 2017 to 2020,
there is uncertainty regarding future U.S. policies with respect to matters of
importance to Mexico and its economy, including trade and immigration. In
particular, since August&nbsp;16, 2017, the U.S. administration has been
renegotiating the terms of NAFTA with its Mexican and Canadian counterparts,
and on November&nbsp;30, 2018 the United States, Mexico and Canada signed the
United States-Mexico-Canada Agreement (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">USMCA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). While the United
States, Mexico and Canada have agreed the terms of USMCA, NAFTA currently
remains in effect. In the United States, USMCA can come into effect only
following the completion of the procedures required by the U.S. Trade Promotion
Authority, including a Congressional vote on an implementing bill. USMCA will
also need to be approved by the legislatures of Canada and Mexico. As such,
there remains significant uncertainty as to whether USMCA will be ratified in
its current form, or at all.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Because the Mexican economy is heavily influenced by the U.S. economy,
the re-negotiation or termination of NAFTA and/or the adoption of USMCA or
other U.S. government policies may adversely affect economic conditions in
Mexico. Any decision taken by the U.S. administration that has an impact on the
Mexican economy, such as by reducing the levels of remittances, reducing
commercial activity among the two countries or slowing direct foreign
investment in Mexico, could adversely affect the Group&#8217;s business, financial
condition and results of operations.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">U.S. immigration policies could also affect trade and other relations
between Mexico and the United States and have other consequences for Mexican
government policies. These factors could have an impact on Mexico&#8217;s GDP growth,
the exchange rate between the U.S. dollar or euro and the Mexican peso, levels
of foreign direct investment and portfolio investment in Mexico, interest
rates, inflation and the Mexican economy generally, which in turn, may have an
impact on the Group&#8217;s business, financial condition and results of operations.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
Group&#8217;s earnings and financial condition have been, and its future earnings and
financial condition may continue to be, materially affected by asset impairment</font></i></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regulatory, business, economic or
political changes and other factors could lead to asset impairment. Severe
market events such as the past sovereign debt crisis, rising risk premiums and
falls in share market prices, have resulted in the Group recording large
write-downs on its credit market exposures in recent years. Several factors
could further depress the valuation of our assets or otherwise lead to the
impairment of such assets (including goodwill and deferred tax assets). Current
political processes such as the implementation of Brexit, which may result in
the United Kingdom leaving the European Union, the surge of populist trends in
several European countries, increased trade tensions or potential changes in
U.S. economic policies implemented by the U.S. administration, could increase
global financial volatility and lead to the reallocation of assets. Doubts
regarding the asset quality of European banks also affected their evolution in
the market in recent years. In addition, uncertainty about China&#8217;s growth
expectations and its policymaking capability to address certain severe
challenges has contributed to the deterioration of the valuation of global
assets and further increased volatility in the global financial markets.
Additionally, in dislocated markets, hedging and other risk management
strategies may not be as effective as they are in more normal market conditions
due in part to the decreasing credit quality of hedge counterparties. Any
deterioration in economic and financial market conditions could lead to further
impairment charges and write-downs. In addition, the Group may be required to
derecognize deferred tax assets if it believes it is unable to use them over
the period for which the deferred tax assets remain deductible.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exposure
to the real estate market makes the Group vulnerable to developments in this
market</font></i></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">While the</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> Group has recently taken
several steps to reduce its exposure to the real estate market in Spain (see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item
4. Information on the Company&#8212;Business Overview&#8212;Operating Segments&#8212;Non Core
Real Estate</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), it continues to be exposed to the real estate market due to
the fact that real estate assets secure many of its outstanding loans and due
to the significant amount of real estate assets held on its balance sheet and
its stakes in real estate companies such as Metrovacesa, S.A. and Divarian
Propiedad, S.A. Any deterioration of real estate prices could materially and
adversely affect the Group&#8217;s business, financial condition and results of
operations.</font></font></p>

<h4 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;">&nbsp;</h4>
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<h4 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">Legal, Regulatory and
Compliance Risks</font></b></font></h4>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition to the risk factors set forth below, see &#8220;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;</font></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Liquidity and
Financial Risks</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;</font></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Implementation of internationally accepted liquidity ratios
might require changes in business practices that affect the profitability of
the Bank&#8217;s business activities</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></i></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
Group is subject to substantial regulation and regulatory and governmental
oversight. Changes in the regulatory framework could have a material adverse
effect on its business, results of operations and financial condition</font></i></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The financial services industry is among the most highly regulated
industries in the world. In response to the global financial crisis and the
European sovereign debt crisis, governments, regulatory authorities and others
have made and continue to make proposals to reform the regulatory framework for
the financial services industry to enhance its resilience against future
crises. Legislation has already been enacted and regulations issued </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">as a consequence of </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">some of these proposals. The regulatory
framework for financial institutions is likely to undergo further significant
change.</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This creates significant uncertainty for the Group and the
financial industry in general. The wide range of recent actions or current
proposals includes, among other things, provisions for more stringent
regulatory capital and liquidity standards, restrictions on compensation
practices, special bank levies and financial transaction taxes, recovery and
resolution powers to intervene in a crisis including &#8220;bail-in&#8221; of creditors,
separation of certain businesses from deposit taking, stress testing and
capital planning regimes, heightened reporting requirements and reforms of
derivatives, other financial instruments, investment products and market
infrastructures.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, the supervisory framework has been intensified, in
conjunction with the increased emphasis on the regulatory framework, such that</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> the new institutional structure in Europe for
supervision, with the creation of the single </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">supervisory mechanism (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SSM</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;),&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and for resolution, with the single resolution
mechanism</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SRM</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;),&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> is changing the </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">regulatory and supervisory framework (see &#8220;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;</font></font><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regulatory
developments related to the EU fiscal and banking union may have a material
adverse effect on the Bank&#8217;s business, financial condition and results of
operations</font></i></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> The specific effects of a number of new laws
and regulations remain uncertain because the drafting and implementation of
these laws and regulations are still ongoing. In addition, since some of these
laws and regulations have been recently adopted, the manner in which they are
applied to the operations of financial institutions is still evolving. No
assurance can be given that laws or regulations will be enforced or interpreted
in a manner that will not have a material adverse effect on the Group&#8217;s
business, financial condition, results of operations and cash flows.</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, regulatory scrutiny
under existing laws and regulations has become more intense.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Furthermore, regulatory and supervisory authorities have
substantial discretion in how to regulate and supervise banks, and this
discretion, and the means available to regulators and supervisors, have been
steadily increasing during recent years. Regulation may be imposed on an ad hoc
basis by governments and regulators in response to a crisis, and these may
especially affect financial institutions that are deemed to be systemically
important (including global systemically important banks </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(&#8220;</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">G-SIBs</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
and institutions deemed to be of local systemic importance, domestic
systemically important banks </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(&#8220;</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">D-SIBs</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">),</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> such as the Bank).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, local regulations in certain jurisdictions where the
Group operates differ in a number of material respects from equivalent
regulations in Spain or the United States. Changes in regulations may have a
material adverse effect on the Group&#8217;s business, results of operations and
financial condition, particularly in Mexico, the United States, Turkey,
Venezuela and Argentina. Furthermore, regulatory fragmentation, with some
countries implementing new and more stringent standards or regulation, could
adversely affect the Group&#8217;s ability to compete with financial institutions
based in other jurisdictions which do not need to comply with such new
standards or regulation. In addition, financial institutions which are based in
other jurisdictions, including the United States, could benefit from any
deregulation efforts implemented in such jurisdictions. Moreover, to the extent
recently adopted regulations are implemented inconsistently in the various
jurisdictions in which the Group operates, the Group may face higher compliance
costs.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any required changes to the Group&#8217;s business
operations resulting from the legislation and regulations applicable to such
business could result in significant loss of revenue, limit the Group&#8217;s ability
to pursue business opportunities in which the Group might otherwise consider engaging,
affect the value of assets that the Group holds, require the Group to increase
its prices and therefore reduce demand for its products, impose additional
costs on the Group or otherwise adversely affect the Group&#8217;s businesses. For
example, the Group is subject to substantial regulation relating to liquidity.
Future liquidity standards could require it to maintain a greater proportion of
its assets in highly liquid but lower-yielding financial instruments, which
would negatively affect its net interest margin. Moreover, the Group&#8217;s
regulators, as part of their supervisory function, periodically review the
Group&#8217;s allowance for loan losses. Such regulators may require the Group to
increase its allowance for loan losses or to </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">recognize</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> further
losses. Any such additional provisions for loan losses, as required by these
regulators whose views may differ from those of the Group&#8217;s management, could
have an adverse effect on the Group&#8217;s earnings and financial condition.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Adverse regulatory developments or changes in government policy
relating to any of the foregoing or other matters could have a material adverse
effect on the Group&#8217;s business, results of operations and financial condition.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:12.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Increasingly
onerous capital requirements may have a material adverse effect on the Bank&#8217;s
business, financial condition and results of operations</font></i></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a Spanish credit institution, the Bank is subject to Directive
2013/36/EU of the European Parliament and of the Council of June 26, 2013 on
access to the activity of credit institutions and the prudential supervision of
credit institutions and investment firms, amending Directive 2002/87/EC and
repealing Directives 2006/48/EC and 2006/49/EC (</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">as amended, replaced or supplemented from time to time, </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CRD IV Directive</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">),</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">through which
the EU began implementing the Basel III capital reforms, with effect from
January 1, 2014, with certain requirements being phased in until January 1,
2019. The core regulation regarding the solvency of credit institutions is
Regulation (EU) No. 575/2013 of the European Parliament and of the Council of
June 26, 2013 on prudential requirements for credit institutions and investment
firms and amending Regulation (EU) No. 648/2012 (</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">as amended, replaced or supplemented from time to time, </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CRR</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and, together with the
CRD IV Directive and any measures implementing the CRD IV Directive or the CRR
which may from time to time be applicable in Spain, the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CRD IV</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">),</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
which is complemented by several binding regulatory technical standards, all of
which are directly applicable in all EU Member States, without the need for
national implementation measures. The implementation of CRD IV Directive into
Spanish law took place through Royal Decree-Law 14/2013, of November 29, Law
10/2014, of June 26, on the organization, supervision and solvency of credit
institutions </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(&#8220;</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 10/2014</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">),</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> Royal Decree 84/2015, of</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">February&nbsp;13
</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(&#8220;</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">RD 84/2015</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">),</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> Bank of Spain Circular 2/2014, of</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">January 31 and Bank of Spain Circular 2/2016, of February 2 (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Bank
of Spain Circular 2/2016</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On November 23, 2016, the European Commission published a package
of proposals with further reforms to CRD IV, Directive 2014/59/EU, of May 15
establishing a framework for the recovery and resolution of credit institutions
and investment firms (</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">as amended,
replaced or supplemented from time to time, </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BRRD</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and Regulation (EU) No</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
806/2014 of the European Parliament and of the Council of July 15, 2014
establishing uniform rules and a uniform procedure for the resolution of credit
institutions and certain investment firms in the framework of a Single
Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU)
No</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> 1093/2010 (</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">as
amended, replaced or supplemented from time to time, </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SRM Regulation</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">),</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
including measures to increase the resilience of EU institutions and enhance
financial stability. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On May 25,
2018, the Council of the European Union published the Presidency compromise
proposals relating to the European Commission&#8217;s package of proposals referred
to above </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and on June 25 and 28, 2018, the
European Parliament Committee on Economic and Monetary Affairs published
reports containing its proposed amendments to the European Commission&#8217;s package
of proposals. The final political agreement between the European Parliament and
the Council on these reforms was published on February 15, 2019</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> (the European Commission&#8217;s package of
proposals together with the Presidency compromise proposals, the proposed
amendments of the European Parliament and such final political agreement, the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EU
Banking Reforms</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
timing for the final implementation of these reforms as at the date of this </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Annual Report</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> is unclear.</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CRD IV, among other things, established minimum
&#8220;Pillar 1&#8221; capital requirements and increased the level of capital required by
means of a &#8220;combined buffer requirement&#8221; that entities must comply with from
2016 onwards. The &#8220;combined buffer requirement&#8221; introduced five new capital
buffers: (i) the capital conservation buffer, (ii) the G-SIB buffer, (iii) the
institution-specific countercyclical buffer, (iv) the D-SIB buffer, and (v) the
systemic risk buffer</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> (a buffer to
prevent systemic or macro prudential risks).</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> The &#8220;combined buffer requirement&#8221; applies in addition to the
minimum &#8220;Pillar 1&#8221; capital requirements and is required to be satisfied with
common equity tier 1 </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(&#8220;</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CET1</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> capital.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The G-SIB buffer applies to those institutions included on the
list of G-SIBs, which is updated annually by the Financial Stability Board (the
&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">FSB</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">).</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> The Bank was excluded from this list with
effect from</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">January 1, 2017 and so, unless otherwise
indicated by the FSB (or the Bank of Spain) in the future, it will no longer be
required to maintain a G-SIB buffer.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">The Bank of Spain announced on November 21,
2018 that the Bank continues to be considered a D-SIB and is required to
maintain a fully-loaded D-SIB buffer of a CET1 capital ratio of 0.75% on a
consolidated basis.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">The Bank of Spain agreed in December 2015 to
set the countercyclical capital buffer applicable to credit exposures in Spain
at 0% from January 1, 2016. This percentage is revised each quarter. The Bank
of Spain agreed in December 2018 to maintain the countercyclical capital buffer
at 0% for the first quarter of 2019. As of the date of this Annual Report, the
countercyclical capital buffer applicable to the Group stands at 0.01% and
relates to the Group&#8217;s exposures in other jurisdictions.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">The Bank of Spain has greater discretion in
relation to the determination of the institution-specific countercyclical
buffer, the buffer for D-SIBs and the systemic risk buffer. With the entry into
force of the SSM on November 4, 2014, the European Central Bank (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">ECB</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">&#8221;)
has the ability to provide certain recommendations in this respect and
potentially increase such buffers.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">Moreover, Article 104 of the CRD IV
Directive, as implemented by Article 68 of Law 10/2014, and similarly Article
16 of Council Regulation (EU) No. 1024/2013 of October 15, 2013 conferring
specific tasks on the ECB concerning policies relating to the prudential
supervision of credit institutions (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">SSM Regulation</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">&#8221;), also
contemplates that in addition to the minimum &#8220;Pillar 1&#8221; capital requirements
and the combined buffer requirements, supervisory authorities may impose
further &#8220;Pillar 2&#8221; capital requirements (above &#8220;Pillar 1&#8221; requirements and
below the combined buffer requirements) to cover other risks, including those
not considered to be fully captured by the minimum &#8220;own funds&#8221; &#8220;Pillar 1&#8221;
requirements under CRD IV or to address macro-prudential considerations.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Furthermore</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, the ECB
is required, under Regulation (EU) No</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> 468/2014 of the ECB
of April 16, 2014 establishing the framework for cooperation within the Single
Supervisory Mechanism between the ECB and national competent authorities and
with national designated authorities (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SSM Framework Regulation</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">),</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
to carry out a supervisory review and evaluation process (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SREP</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
of </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the Bank</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and the Group at least on an annual basis.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition to the above, the European Banking Authority (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EBA</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
published on </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">December</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> 19, 2014 its final guidelines for common
procedures and methodologies in respect of the SREP (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EBA SREP
Guidelines</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">).</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> Included in </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the EBA SREP Guidelines</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> were the EBA&#8217;s proposed guidelines for a common approach to determining
the amount and composition of additional &#8220;Pillar 2&#8221; own funds requirements to
be implemented from January 1, 2016. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
these guidelines, national supervisors should set </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
composition </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">of the capital
instruments required to comply with</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
the &#8220;Pillar 2&#8221; </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">requirement, so
that </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">at least 56%</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> of the &#8220;Pillar 2&#8221; requirement is covered with</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> CET1 capital and at least 75</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% with</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> Tier 1 capital, as has also been </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">provided</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> in the EU
Banking Reforms. The EBA SREP Guidelines and the EU Banking Reforms also
contemplate that national supervisors should not set additional own funds
requirements in respect of risks which are already covered by the &#8220;combined
buffer requirement&#8221; and/or additional macro-prudential requirements.</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> On July 19, 2018, the EBA published its final
guidelines aimed at further enhancing institutions</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8217;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> risk
management and supervisory convergence in respect of SREP. These guidelines
focus on stress testing, particularly its use in setting &#8220;Pillar 2&#8221;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">capital
guidance and the level of interest rate risk.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any additional &#8220;Pillar 2&#8221; own funds requirement that may be
imposed on the Bank and/or the Group by the ECB pursuant to the SREP will
require the Bank and/or the Group to hold capital levels above the minimum
&#8220;Pillar 1&#8221; capital requirements.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the most recent SREP carried out
by the ECB, we received a communication from the ECB pursuant to which we are
required to maintain, as from March 1, 2019 on a consolidated basis, a CET1
capital ratio of 9.26% (8.53% on an individual basis) and a total capital ratio
of 12.76% (12.03% on an individual basis). This total capital requirement (on a
consolidated basis) includes: (i) the minimum CET1 requirement under Pillar 1
(4.5%); (ii) the Additional Tier 1 capital (AT1) requirement under Pillar 1
(1.5%); (iii) the tier 2 capital requirement under Pillar 1 (2%); (iv) the CET1
capital requirement under Pillar 2 (1.5%), which remains unchanged since the
prior SREP; (v) the capital conservation buffer (2.5% of CET1); (vi) the Other
Systemic Important Institution buffer (OSII) (0.75% of CET1); and (vii) the
countercyclical capital buffer (0.01% of CET1).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">December 31,
2018</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, the Bank&#8217;s phased-in total
capital ratio was 15.71</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">%</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">on a consolidated basis and 22.</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">07%</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> on an individual
basis. As of </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">December 31, 2018</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, the Bank&#8217;s CET1 phased-in capital ratio was
11.</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">58% </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">on a consolidated basis and 17.</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">45%</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
on an individual basis. Such ratios exceed the applicable regulatory
requirements described above, but there can be no assurance that the total
capital requirements imposed on the Bank and/or the Group from time to time may
not be higher than the levels of capital available at such point in time. There
can also be no assurance as to the result of any future SREP carried out by the
ECB and whether this will impose any further &#8220;Pillar 2&#8221; additional own funds
requirements on the Bank and/or the Group.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Additionally, on February 1, 2019, the Bank
announced its new CET1 fully-loaded capital target, consisting of</font></font><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&nbsp;a&nbsp;CET1 ratio with</font></font><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">in </font></font><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">the&nbsp;</font></font><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">range</font></font><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">between 11.5% and 12.0%</font></font><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">on a consolidated basis, and
which the Bank expects to achieve b</font></font><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">y </font></font><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">2019 year-end. No assurance can be given that the Bank will achieve this
target. See &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Cautionary Statement Regarding Forward-Looking Statements</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;.
Any failure by the Bank to maintain a consolidated CET1 capital ratio in line
with its CET1 fully-loaded capital target could adversely affect&nbsp;the
market price or value or trading behavior of any securities issued by the Bank
(</font></font><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">and, in
particular, any of its&nbsp;</font></font><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">capital instruments) and ultimately lead to the imposition
of&nbsp;further &#8220;Pillar 2&#8221; guidance or requirements.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On March 15, 2018, the ECB further published the ECB&#8217;s supervisory
expectations for prudent levels of provisions for non-performing loans (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">NPLs</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).
This was published as an addendum (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Addendum</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) to the ECB&#8217;s guidance
to banks on non-performing loans published on March 20, 2017, which clarified
the ECB&#8217;s supervisory expectations regarding the identification, management,
measurement and write-off of NPLs.</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The ECB states that the Addendum sets out what
it deems to be a prudent treatment of NPLs with the aim of avoiding an
excessive build-up of non-covered aged NPLs on banks&#8217; balance sheets in the
future, which would require supervisory measures.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The ECB states that it will assess any differences between banks&#8217;
practices and the prudential provisioning expectations laid out in the Addendum
at least annually and will link the supervisory expectations in the Addendum to
new NPLs classified as such from April 1, 2018 onwards. Banks will be asked to
inform the ECB of any differences between their practices and the ECB&#8217;s
prudential provisioning expectations, as part of the SREP supervisory dialogue,
from early 2021 onwards. Ultimately this could result in the ECB requiring
banks to apply specific adjustments to own funds calculations where the
accounting treatment applied by the bank is considered not prudent from a
supervisory perspective, which could in turn impact on the capital position of
the relevant bank. The supervisory expectations set out in the Addendum are
expected to be reflected in the proposed amendments to the CRR as part of the
EU Banking Reforms, which could impact the minimum coverage levels required for
newly originated loans that become non-performing, requiring banks to increase
their provisioning for future NPLs.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Furthermore, the EU Banking Reforms propose new requirements that
capital instruments should meet in order to be considered as Additional Tier 1
instruments or Tier 2 instruments, including certain grandfathering measures. T</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">o the extent any of</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> these new requirements</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">are
not subject to a grandfathering or exemption regime for </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">those</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> Additional Tier 1 instruments and/or Tier 2 instruments</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> already in issue at the time</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> such new requirements are implemented, such
instruments could be subject to regulatory uncertainties on their inclusion as
capital</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. This</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> may lead to regulatory capital shortfalls and
ultimately a breach of the applicable minimum regulatory capital requirements</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;Any failure by the Bank and/or the Group to </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">comply with</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> its &#8220;Pillar 1&#8221; minimum regulatory capital ratios, any &#8220;Pillar 2&#8221; additional
own funds requirements and/or any &#8220;combined buffer requirement&#8221; could result in
the imposition of restrictions or prohibitions on &#8220;discretionary payments&#8221; by
the Bank as discussed below or administrative actions or sanctions, which, in
turn, may have a material adverse effect on the Group&#8217;s results of operations.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">According to Article 48 of Law 10/2014, Article
73 of RD 84/2015 and Rule 24 of Bank of Spain Circular 2/2016, any entity not
meeting its &#8220;combined buffer requirement&#8221; is required to determine its Maximum
Distributable Amount </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(&#8220;</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MDA</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> as described therein. Until the MDA has been
calculated and communicated to the Bank of Spain, where applicable, the
relevant entity </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">shall not make any</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> (i) distributions relating to CET1 capital,
(ii) payments in respect of variable remuneration or discretionary pension
revenues and (iii) distributions relating to Additional Tier 1 instruments </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(&#8220;</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">discretionary payments</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and, </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">once the MDA has been calculated and communicated to the Bank of
Spain</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, any such discretionary
payments by that entity will be subject to such MDA limit.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Furthermore, as set forth in Article 48 of Law 10/2014, the
adoption by the Bank of Spain of the measures prescribed in Articles 68.2.h)
and 68.2.i) of Law 10/2014, aimed at strengthening own funds or limiting or
prohibiting the distribution of dividends respectively will also result in a
requirement to determine the MDA and restrict discretionary payments to such
MDA. Pursuant to the EU Banking Reforms, </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the calculation of the </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MDA and</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> the consequences
thereof, as well as the restrictions specified in the paragraph above while
such calculation is pending,</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> could
also </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">be triggered by</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> a breach of MREL (as defined herein) (see &#8220;&#8212;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any
failure by the Bank and/or the Group to comply with its MREL could have a
material adverse effect on the Bank&#8217;s business, financial condition and results
of operations</font></i></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> below</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) or a breach of the minimum leverage ratio requirement.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As set out in the &#8220;Opinion of the European Banking Authority on
the interaction of Pillar 1, Pillar 2 and combined buffer requirements and
restrictions on distributions&#8221; published on December 16, 2015 (the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">December
2015 EBA Opinion</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), in the EBA&#8217;s opinion competent authorities should
ensure that the CET1 capital to be taken into account in determining the CET1
capital available to meet the &#8220;combined buffer requirement&#8221; for the purposes of
the MDA calculation is limited to the amount not used to meet the &#8220;Pillar 1&#8221;
and, if applicable, &#8220;Pillar 2&#8221; own funds requirements of the institution. There
can be no assurance as to how and when binding effect will be given to the
December 2015 EBA Opinion in Spain, including as to the consequences for an
institution of its capital levels falling below those necessary to meet these
requirements. The EU Banking Reforms propose certain amendments in order to
clarify, for the purposes of restrictions on distributions, the hierarchy
between the &#8220;Pillar 2&#8221; additional own funds requirements, the minimum &#8220;own
funds&#8221; &#8220;Pillar 1&#8221; requirements, the own funds and eligible liabilities
requirement, MREL and the &#8220;combined buffer requirements&#8221; (which is referred to
as &#8220;stacking order&#8221;). In particular, no distinction is proposed to be made
where discretionary payments are restricted to the MDA between distributions
relating to CET1 capital or payments in respect of variable remuneration or
discretionary pension revenues, and payments due on Additional Tier 1
instruments.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On July 1, 2016, the EBA published additional information
explaining how supervisors should use the results of the 2016 EU-wide stress
test for SREP assessments. The EBA stated, among other things, that the
incorporation of the quantitative results of the EU-wide stress test into SREP
assessments may include setting additional supervisory monitoring metrics in the
form of capital guidance. Such guidance will not be included in MDA
calculations but competent authorities would expect banks to meet that guidance
except when explicitly agreed. Competent authorities have remedial tools if an
institution refuses to follow such guidance. The EU Banking Reforms also
propose that a distinction be made between &#8220;Pillar 2&#8221; capital requirements and
&#8220;Pillar 2&#8221; capital guidance, with only the former being mandatory requirements.
Notwithstanding the foregoing, the EU Banking Reforms propose that, in addition
to certain other measures, supervisory authorities be entitled to impose
further &#8220;Pillar 2&#8221; capital requirements where an institution repeatedly fails
to follow the &#8220;Pillar 2&#8221; capital guidance previously imposed.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The ECB has also </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">confirmed</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> in its recommendation of</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> January 7, 2019</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> on dividend distribution policies that credit institutions should
establish dividend policies using conservative and prudent assumptions in
order, after any distribution, to satisfy the applicable capital requirements
and the outcomes of the SREP.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any failure by the Bank and/or the Group to
comply with its regulatory capital requirements could also result</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, among other things,</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> in the imposition of further &#8220;Pillar 2&#8221;
requirements and the adoption of any early intervention or, ultimately,
resolution measures by resolution authorities pursuant to Law 11/2015 of June
18 on the Recovery and Resolution of Credit Institutions and Investment Firms (</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Ley
11/2015 de 18 de junio de recuperaci&#243;n y resoluci&#243;n de entidades de cr&#233;dito y
empresas de servicios de inversi&#243;n</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">), as amended, replaced or supplemented
from time to time </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(&#8220;</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 11/2015</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">),</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> which, together with Royal Decree 1012/2015 of</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">November
16 by virtue of which Law 11/2015 is developed and Royal Decree 2606/1996 of</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">December
20</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">on credit entities&#8217; deposit guarantee fund is amended </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(as amended, replaced or supplemented from time
to time, &#8220;</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">RD 1012/2015</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">),</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> has implemented the BRRD into Spanish law. See
&#8220;</font></font><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Bail-in and write-down powers
under the BRRD and the SRM Regulation may adversely affect our business and the
value of any securities we may issue</font></i></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> below.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On November 2, </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2018</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, the EBA, in cooperation with the ECB and the European
Systemic Risk Board (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ESRB</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), published the results of its 2018
EU-wide stress test of 48 European banks, including the Bank. This assessment
was based on the participating banks&#8217; consolidated balance sheets as of
December 31, 2017. The stress test examined the resilience of banks against two
separate scenarios &#8211; a baseline scenario and an adverse scenario during a
three-year period beginning on December 31, 2017 and ending on December 31,
2020. Under both scenarios, the CET1 fully-loaded ratios, among other measures,
of participating banks were analyzed over that period to understand bank sensitivities
under prescribed stressed economic conditions. The baseline scenario was
provided by the ECB and reflected macroeconomic forecasts prevailing as of
December 31, 2017. The adverse scenario was prepared by the ESRB in
collaboration with the ECB and the EBA and represented a severe economic
downturn. As the stress test uses the Bank&#8217;s consolidated balance sheet as of
December 31, 2017, it does not take into account subsequent business strategies
and management actions, including the sale of the Bank&#8217;s 68.2% stake in </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Banco Bilbao Vizcaya Argentaria Chile, S.A. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Chile</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">to </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Bank
of Nova Scotia group (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Scotiabank</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> on
July 6, 2018 or the Cerberus Transaction (as defined herein). The stress test
is not a forecast of the Bank&#8217;s profits and does not include a defined
pass/fail threshold. Instead, it was utilized by the SREP carried out by the
ECB in 2018. Under the stress test, the Bank&#8217;s starting CET1 fully-loaded ratio
as of December 31, 2017 was restated from 11.04% to 10.73% as a result of the
implementation of IFRS 9. Under the baseline scenario, the Bank&#8217;s CET1
fully-loaded ratio increases 1.99 basis points to 12.72% as of December 31,
2020, and under the adverse scenario the Bank&#8217;s CET1 fully-loaded ratio
decreases 1.93 basis points to 8.80% as of December 31, 2020.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">At its meeting of
January 12, 2014, the oversight body of the Basel Committee on Banking
Supervision </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(&#8220;</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BCBS</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> endorsed the definition of the leverage ratio
set forth in CRD IV, to promote consistent disclosure, which applied from </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">January 1</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, 2015. As of the date of this </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Annual Report</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, there
is no applicable regulation in Spain which establishes a specific leverage
ratio requirement for credit institutions. However,</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the EU Banking
Reforms propose a binding leverage ratio requirement of 3</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">%</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
of Tier 1 capital that is added to an institution&#8217;s own funds requirements and
that an institution must meet in addition to its risk based requirements.</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> In particular, any breach of this leverage
ratio could also result in a requirement to determine the MDA and restrict
discretionary payments to such MDA, as well as trigger the restrictions
referred to above while such calculation is pending.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, on
December 7, 2017 the BCBS announced the finalized Basel III reforms (informally
referred to as Basel IV). These reforms include changes to the risk weightings
applied to different assets and measures to enhance the risk sensitivity in
such weightings and impose limits on the use of internal ratings-based
approaches to ensure a minimum level of conservatism in the use of such
ratings-based approaches and provide for greater comparability across banks
where such internal ratings-based approaches are used. Revised capital floor
requirements will also limit the regulatory capital benefit for banks in calculating
total risk-weighted assets using internal risk models as compared to the
standardized approach, with a minimum capital requirement of 50% of
risk-weighted assets calculated using only the standardized approaches applying
from January 1, 2022 and increasing to 72.5% from January 1, 2027. To the
extent these reforms result in an increase in the total risk-weighted assets of
the Bank they could also result in a corresponding decrease in the Bank&#8217;s
capital ratio.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The ECB has announced that it is conducting a
targeted review of the internal models (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TRIM</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) being used by banks
subject to its supervision for their internal ratings-based approaches in
applying risk weightings to assets. TRIM is being undertaken to assess the
extent to which such internal models are considered to be in line with
regulatory requirements, and the results of those internal models are reliable
and comparable, in order to harmonize the approaches to internal models used by
banks across the European Union. During 2016, the ECB launched preliminary
questionnaires and data requests, and on-site investigations were conducted in
2017 and the first half of 2018. This first phase of TRIM involved a review of
the models used to assess the credit risk for retail and small and medium-sized
enterprise portfolios, as well as market risk and counterparty credit risk.
Phase two, focusing on the models used to assess the credit risk for so-called
low-default portfolios, started in the second half of 2018 and is expected to
continue throughout 2019. Though the outcome of TRIM is at this stage unknown,
the objective of the ECB in undertaking TRIM is to reduce unwarranted
variability in risk-weighted assets across banks, not to increase risk-weighted
assets in general. Nevertheless, TRIM could lead to increases or decreases in
the capital needs of banks. To the extent TRIM results in any changes being
required to the internal models used by banks and such changes result in an
increase in the Bank&#8217;s risk-weighted assets, this could have a corresponding
impact on the Bank&#8217;s capital position.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The implementation of Basel reforms</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> differs across jurisdictions in terms of timing and applicable
rules. This lack of uniformity among implemented rules may lead to an uneven
playing field and to competition distortions. Moreover, the lack of regulatory
coordination, with some countries bringing forward the application of Basel
requirements or increasing such requirements, could adversely affect a bank
with global operations such as the Bank and could affect its profitability.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">There can be no assurance that the implementation of the above
capital requirements will not adversely affect the Bank&#8217;s ability to </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">make</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &#8220;discretionary payments</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;,</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> or result in the cancellation of such payments
(in whole or in part), or require the Bank to issue additional securities that
qualify as regulatory capital, to liquidate assets, to curtail business or to
take any other actions, any of which may have adverse effects on the Bank&#8217;s
business, financial condition and results of operations. Furthermore, increased
capital requirements may negatively affect the Bank&#8217;s return on equity and
other financial performance indicators.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">Bail-in and write-down powers under the BRRD and the SRM
Regulation may adversely affect our business and the value of any securities we
may issue</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The BRRD (which has been implemented in
Spain through Law 11/2015 and RD 1012/2015) and the SRM Regulation are designed
to provide authorities with a credible set of tools to intervene sufficiently
early and quickly in unsound or failing credit institutions or investment firms
(each, an &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">institution</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) so as to ensure the continuity of the
institution&#8217;s critical financial and economic functions, while minimizing the
impact of an institution&#8217;s failure on the economy and financial system. The
BRRD further provides that any extraordinary public financial support through
additional financial stabilization tools is only to be used by a Member State
as a last resort, after having assessed and utilized the resolution tools set
out below to the maximum extent possible while maintaining financial stability.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with Article 20 of Law
11/2015, an institution will be considered as failing or likely to fail in any
of the following circumstances: (i)&nbsp;it is, or is likely in the near future
to be, in significant breach of its solvency or any other requirements
necessary for maintaining its authorization; (ii)&nbsp;its assets are, or are
likely in the near future to be, less than its liabilities; (iii)&nbsp;it is,
or is likely in the near future to be, unable to pay its debts as they fall
due; or (iv)&nbsp;it requires extraordinary public financial support (except in
limited circumstances). The determination that an institution is failing or
likely to fail may depend on a number of factors which may be outside of that
institution&#8217;s control.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As provided in
the BRRD, Law 11/2015 contains four resolution tools and powers which may be
used alone or in combination where a Relevant Spanish Resolution Authority (as
defined below) considers that (i)&nbsp;an institution is failing or likely to
fail; (ii)&nbsp;there is no reasonable prospect that any other measure would
prevent the failure of such institution within a reasonable timeframe; and
(iii)&nbsp;a resolution action, instead of the winding up of the institution under
normal insolvency proceedings, is in the public interest. The four resolution
tools are (i)&nbsp;sale of business, which enables resolution authorities to
direct the sale of the institution or the whole or part of its business on
commercial terms; (ii)&nbsp;bridge institution, which enables resolution
authorities to transfer all or part of the business of the institution to a
&#8220;bridge institution&#8221; (an entity created for this purpose that is wholly or
partially in public control)</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">,&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">may&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">limit&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capacity&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">of&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">institution&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">to&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">meet&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.25pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">its&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">repayment&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:2.35pt;">
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">obligations</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">; (iii)&nbsp;asset
separation, which enables resolution authorities to transfer certain categories
of assets (normally impaired or otherwise problematic) to one or more asset
management vehicles to allow them to be managed with a view to maximizing their
value through eventual sale or orderly wind-down (this can be used together
with another resolution tool only); and (iv)&nbsp;the Spanish Bail-in Power (as
defined below). Any exercise of the Spanish Bail-in Power by the Relevant Spanish
Resolution Authority may include the write down and/or conversion into equity
or other securities or obligations (which equity, securities and obligations
could also be subject to any future application of the Spanish Bail-in Power)
of certain unsecured debt claims of an institution.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Relevant Spanish Resolution Authority</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;
means the Spanish Fund for the Orderly Restructuring of Banks (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fondo de
Restructuraci&#243;n Ordenada Bancaria</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">FROB</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), the European Single
Resolution Mechanism (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SRM</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and, as the case may be, according to Law
11/2015, the Bank of Spain and the CNMV (as defined herein), and any other
entity with the authority to exercise the Spanish Bail-in Power from time to
time. &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish Bail-in Power</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; means any write-down, conversion,
transfer, modification, or suspension power existing from time to time under:
(i) any law, regulation, rule or requirement applicable from time to time in
Spain, relating to the transposition or development of the BRRD (as amended,
replaced or supplemented from time to time), including, but not limited to (a)
Law 11/2015, (b) RD 1012/2015; and (c) the SRM Regulation, each as amended,
replaced or supplemented from time to time; or (ii) any other law, regulation,
rule or requirement applicable from time to time in Spain pursuant to which (a)
obligations or liabilities of banks, investment firms or other financial
institutions or their affiliates can be reduced, cancelled, modified,
transferred or converted into shares, other securities, or other obligations of
such persons or any other person (or suspended for a temporary period or
permanently) or (b) any right in a contract governing such obligations may be
deemed to have been exercised.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with Article 48 of Law
11/2015 (and subject to any exclusions that may be applied by the Relevant
Spanish Resolution Authority under Article 43 of Law 11/2015), in the case of
any application of the Spanish Bail-in Power, the sequence of any resulting
write-down or conversion by the Relevant Spanish Resolution Authority shall be
in the following order: (i) CET1 items; (ii) the principal amount of Additional
Tier 1 instruments; (iii) the principal amount of Tier 2 capital instruments;
(iv) the principal amount of other subordinated claims that are not Additional
Tier 1 capital or Tier 2 capital; and (v) the principal or outstanding amount
of the remaining eligible liabilities in the order of the hierarchy of claims
in normal insolvency proceedings.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition to the Spanish Bail-in
Power, the BRRD, Law 11/2015 and the SRM Regulation provide for resolution
authorities to have the further power to permanently write-down or convert into
equity capital instruments at the point of non-viability (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Non-Viability
Loss Absorption</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; and, together with the Spanish Bail-in Power, the </font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Spanish
Statutory Loss-Absorption Powers</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) of an institution or a group. The point
of non-viability of an institution is the point at which the Relevant Spanish
Resolution Authority determines that the institution meets the conditions for
resolution or will no longer be viable unless the relevant capital instruments
are written down or converted into equity or extraordinary public support is to
be provided and without such support the Relevant Spanish Resolution Authority
determines that the institution would no longer be viable. The point of
non-viability of a group is the point at which the group infringes or there are
objective elements to support a determination that the group, in the near
future, will infringe its consolidated solvency requirements in a way that
would justify action by the Relevant Spanish Resolution Authority in accordance
with article 38.3 of Law 11/2015. Non-Viability Loss Absorption may be imposed
prior to or in combination with any exercise of the Spanish Bail-in Power or
any other resolution tool or power (where the conditions for resolution
referred to above are met).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">To the extent
that any resulting treatment of a holder of the Bank&#8217;s securities pursuant to
the exercise of the Spanish Statutory Loss-Absorption Powers (except, as indicated
below, with respect to a Non-Viability Loss Absorption) is less favorable than
would have been the case under such hierarchy in normal insolvency proceedings,
a holder of such affected securities would have a right to compensation under
the BRRD and the SRM Regulation based on an independent valuation of the
institution, in accordance with Article 10 of RD 1012/2015 and the SRM
Regulation. Any such compensation, however, together with any other
compensation provided by any Applicable Banking Regulations (including, among
such other compensation, in accordance with article 36.5 of Law 11/2015) is
unlikely to compensate that holder for the losses it has actually incurred and
there is likely to be a considerable delay in the recovery of such compensation.
</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Applicable Banking
Regulations</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; means at any time the laws, regulations, requirements,
guidelines and policies relating to capital adequacy, resolution and/or
solvency then applicable to the Bank and/or the Group including, without
limitation to the generality of the foregoing, CRD IV, the BRRD and those laws,
regulations, requirements, guidelines and policies relating to capital
adequacy, resolution and/or solvency then in effect in Spain (whether or not
such regulations, requirements, guidelines or policies have the force of law
and whether or not they are applied generally or specifically to the Bank
and/or the Group). </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Compensation
payments (if any) are also likely to be made considerably later than when
amounts may otherwise have been due under the affected securities. In addition,
in the case of a Non-Viability Loss Absorption it is not clear that a holder of
the affected securities would have a right to compensation under the BRRD and
the SRM Regulation if any resulting treatment of such holder pursuant to the
exercise of the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Non-Viability
Loss Absorption</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> was less
favorable than would have been the case under such hierarchy in normal
insolvency proceedings.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The powers set out in the BRRD, as
implemented through Law 11/2015 and RD 1012/2015, and the SRM Regulation impact
how credit institutions and investment firms are managed, as well as, in
certain circumstances, the rights of creditors. Pursuant to Law 11/2015, upon
any application of the Spanish Bail-in Power and/or Non-Viability Loss
Absorption, holders of, among others, unsecured debt securities, subordinated
obligations and shares issued by us may be subject to, among other things, a
write-down (including to zero) and/or conversion into equity or other
securities or obligations on any application of the Spanish Bail-in Power. The
exercise of any such powers (or any of the other resolution powers and tools)
may result in such holders of such securities losing some or all of their
investment or otherwise having their rights under such securities adversely
affected, including by becoming holders of further subordinated instruments.
Such exercise could also involve modifications to, or the disapplication of,
provisions in the terms and conditions of certain securities including
alteration of the principal amount or any interest payable on debt instruments,
the maturity date or any other dates on which payments may be due, as well as
the suspension of payments for a certain period. As a result, the exercise of
the Spanish Bail-in Power and/or Non-Viability Loss Absorption with respect to
such securities or the taking by an authority of any other action, or any
suggestion that the exercise or taking of any such action may happen, could
materially adversely affect the rights of holders of such securities, the market
price or value or trading behavior of our securities and/or the ability of the
Bank to satisfy its obligations under any such securities.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The exercise of the Spanish Bail-in Power
and/or Non-Viability Loss Absorption by the Relevant Spanish Resolution
Authority is likely to be inherently unpredictable and may depend on a number
of factors which may also be outside of the Bank&#8217;s control. In addition, as the
Relevant Spanish Resolution Authority will retain an element of discretion,
holders of such securities may not be able to refer to publicly available
criteria in order to anticipate any potential exercise of any such Spanish
Bail-in Power and/or Non-Viability Loss Absorption. Because of this inherent
uncertainty, it will be difficult to predict when, if at all, the exercise of
any such powers by the Relevant Spanish Resolution Authority may occur.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This uncertainty may adversely affect the
value of the unsecured debt securities, subordinated obligations and shares
issued by us. The price and trading behavior of such securities may be affected
by the threat of a possible exercise of any power under Law 11/2015 and/or the
SRM Regulation (including any early intervention measure before any resolution)
or any suggestion of such exercise, even if the likelihood of such exercise is
remote. Moreover, the Relevant Spanish Resolution Authority may exercise any
such powers without providing any advance notice to the holders of affected
securities.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition,
the EBA has published certain regulatory technical standards and implementing
technical standards to be adopted by the European Commission and certain other
guidelines. These standards and guidelines could be potentially relevant to
determining when or how a Relevant Spanish Resolution Authority may exercise
the Spanish Bail-in Power and impose a Non-Viability Loss Absorption. Included
in this are guidelines on the treatment of shareholders in bail-in or the
write-down and conversion of capital instruments, and on the rate of conversion
of debt to equity or other securities or obligations in any bail-in. No
assurance can be given that these standards and guidelines will not be
detrimental to the rights under, and the value of, unsecured debt securities,
subordinated obligations and shares issued by us.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">Any failure by the Bank and/or the Group to comply with its
MREL could have a material adverse effect on the Bank&#8217;s business, financial
condition and results of operations</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The BRRD prescribes that banks shall hold
a minimum level of own funds and eligible liabilities in relation to total
liabilities known as the minimum requirement for own funds and eligible
liabilities (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MREL</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). According to Commission Delegated Regulation (EU)
2016/1450 of May 23, 2016 (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MREL Delegated Regulation</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), the level
of own funds and eligible liabilities required under MREL will be set by the
resolution authority for each bank (and/or group) based on, among other things,
the criteria set forth in Article 45.6 of the BRRD, including the systemic
importance of the institution. Eligible liabilities may be senior or
subordinated, provided that, among other requirements, they have a remaining
maturity of at least one year and, if governed by a non-EU law, they must be
able to be written down or converted by the resolution authority of a Member
State under that law or through contractual provisions.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MREL came into force on January 1, 2016.
However, the EBA has recognized the impact which this requirement may have on
banks&#8217; funding structures and costs, and the MREL Delegated Regulation states
that the resolution authorities shall determine an appropriate transitional
period but that this shall be as short as possible.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, as a result of the EU Banking
Reforms, Directive (EU) 2017/2399 of the European Parliament and of the Council
of December 12, 2017 amending Directive 2014/59/EU as regards the ranking of
unsecured debt instruments in insolvency hierarchy was approved with the aim to
harmonize national laws on insolvency and recovery and resolution of credit
institutions and investment firms, by creating a new credit class of
&#8220;non-preferred&#8221; senior debt that should only be bailed-in after junior ranking
instruments but before other senior liabilities. In this regard, on June 23,
2017 Royal Decree-Law 11/2017 of June 23 on urgent measures in financial
matters (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Real Decreto-ley 11/2017, de 23 de junio, de medidas urgentes en
materia financiera</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) introduced into Spanish law the new class of
&#8220;non-preferred&#8221; senior debt.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On November 9, 2015, the FSB
published its final Total Loss-Absorbing Capacity (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TLAC</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) Principles
and Term Sheet (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TLAC Principles and Term Sheet</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), proposing that
G-SIBs maintain significant minimum amounts of liabilities that are
subordinated (by law, contract or structurally) to certain prior-ranking
liabilities, such as guaranteed insured deposits, and forming a new standard
for G-SIBs. The TLAC Principles and Term Sheet contain a set of principles on
loss-absorbing and recapitalization capacity of G-SIBs in resolution and a term
sheet for the implementation of these principles in the form of an
internationally agreed standard. The TLAC Principles and Term Sheet require a
minimum TLAC requirement to be determined individually for each G-SIB at the
greater of (i) 16% of risk-weighted assets as of January 1, 2019 and 18% as of
January 1, 2022, and (ii) 6% of the Basel III Tier 1 leverage ratio exposure
measured as of January 1, 2019, and 6.75% as of January 1, 2022. The Bank is no
longer classified as a G-SIB by the FSB with effect from January 1, 2017.
However, if the Bank were to be so classified in the future or if TLAC
requirements as set out below are adopted and implemented in Spain and extended
to non-G-SIBs through the imposition of requirements similar to MREL as set out
below, then this could create additional minimum requirements for the Bank.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">Following the
publication of the Single Resolution Board&#8217;s (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">SRB</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">&#8221;) initial policy
statement on MREL in November 2018, the SRB published on January 16, 2019 its
policy statement on MREL applicable to the second wave of resolution plans
(which are those applicable to the most complex banking groups, including
BBVA). This policy is based on the current regulatory framework but is also
perceived to be preparing the ground for the implementation of the EU Banking
Reforms.</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">In addition, the EU Banking Reforms establish some exemptions
which could allow outstanding senior debt instruments to be used to comply with
MREL. However, there is uncertainty regarding the final form of the EU Banking
Reforms insofar as such eligibility is concerned and how those regulations and
exemptions are to be interpreted and applied.</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> This uncertainty may impact upon the ability of BBVA to
comply with its MREL (at both individual and consolidated levels (together, &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MRELs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;))
by the relevant deadline. In this regard, the EBA submitted on December 14,
2016 its final report on the implementation and design of the MREL framework
(the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EBA MREL Report</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), which contains a number of recommendations to
amend the current MREL framework. Additionally, the EU Banking Reforms contain
the legislative proposal of the European Commission for the amendment of the
MREL framework and the implementation of the TLAC standards. The EU Banking
Reforms propose the amendment of a number of aspects of the MREL framework to
align it with the TLAC standards included in the TLAC Principles and Term
Sheet. To maintain coherence between the MREL rules applicable to G-SIBs and
those applicable to non-G-SIBs, the EU Banking Reforms also propose a number of
changes to the MREL rules applicable to non-G-SIBs. While the EU Banking
Reforms propose for minimum harmonized or &#8220;Pillar 1&#8221; MRELs for G-SIBs, in the
case of non-G-SIBs, it is proposed that MRELs will be imposed on a
bank-specific basis. For G-SIBs, it is also proposed that a supplementary or
&#8220;Pillar 2&#8221; MRELs may be further imposed on a bank-specific basis. The EU
Banking Reforms further provide for the resolution authorities to give guidance
to an institution to have own funds and eligible liabilities in excess of the
requisite levels for certain purposes.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Neither the BRRD nor the MREL Delegated
Regulation provides details on the implications of a failure by an institution
to comply with its MREL requirement. However, the EU Banking Reforms propose
that this be addressed by the relevant authorities on the basis of their powers
to address or remove impediments to resolution, the exercise of their
supervisory powers under the CRD IV Directive, early intervention measures, and
administrative penalties and other administrative measures.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Furthermore, in accordance with the EBA
MREL Report, the EBA recommends that resolution authorities and competent
authorities should engage in active monitoring of compliance with their
respective requirements and considers that (i) the powers of resolution authorities
to respond to a breach of MREL should be enhanced (which would require
resolution authorities to be given the power to require the preparation and
execution of an MREL restoration plan, to use their powers to address
impediments to resolvability, to request that distribution restrictions be
imposed on an institution by a competent authority and to request a joint
restoration plan in cases where an institution breaches both MREL and minimum
capital requirements); (ii) resolution authorities should assume a lead role in
responding to a failure to issue or roll over MREL-eligible debt leading to a
breach of MREL; and (iii) if there are both losses and a failure to roll over
or issue MREL-eligible debt, both the relevant resolution authority and
relevant competent authority should attempt to agree on a joint restoration
plan (provided that both authorities believe that the institution is not
failing or likely to fail). In addition, under the EBA Guidelines on triggers
for use of early intervention measures of May 8, 2015 a significant
deterioration in the amount of eligible liabilities and own funds held by an
institution for the purposes of meeting its MRELs may put an institution in a
situation where conditions for early intervention are met, which may result in
the application by the competent authority of early intervention measures.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.9pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Further, as
outlined in the EBA MREL Report, the EBA&#8217;s recommendation is that an
institution will not be able to use the same CET 1 capital to meet both MREL
and the combined buffer requirements. In addition, the EU Banking Reforms
provide that, in the case of the own funds of an institution that may otherwise
contribute to the combined buffer requirement where there is any shortfall in
MREL, this will be considered as a failure to meet the combined buffer
requirement such that those own funds will automatically be used instead to
meet that institution&#8217;s MRELs and will no longer count towards its combined
buffer requirement. Accordingly, this could trigger a limit on discretionary
payments (see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8212;Increasingly onerous capital requirements may have a
material adverse effect on the Bank&#8217;s business, financial condition and results
of operations</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8221;).&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.9pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Additionally, if the FROB, the
SRM or a Relevant Spanish Resolution Authority finds that there could exist any
obstacles to resolvability by the Bank and/or the Group, a higher MREL could be
imposed.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.9pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Moreover,
with respect to the EU Banking Reforms, there are uncertainties concerning how
the subsidiaries of the Group would be treated in determining the resolution
group of the Bank and the applicable MRELs, which may lead to a situation where
the consolidated MREL of the Bank would not fully reflect its
multiple-point-of-entry resolution strategy.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.9pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">On May 23, 2018, the Bank announced that it had received
notification from the Bank of Spain regarding its MREL, as determined by the
SRB. The Bank&#8217;s MREL has been set at 15.08% of the total liabilities and own
funds of the Bank&#8217;s resolution group at a sub-consolidated level as of December
31, 2016, which corresponds to 28.04% of the risk-weighted assets of the Bank&#8217;s
resolution group as of December 31, 2016, and must be met by January 1, 2020.
Pursuant to the Group&#8217;s multiple-point-of-entry resolution strategy as
established by the SRB, the Bank&#8217;s resolution group consists of the Bank and
its subsidiaries which belong to the same European resolution group. As of
December 31, 2016, the total liabilities and own funds of the Bank&#8217;s resolution
group amounted to &#8364;385,647 million, of which the total liabilities and own
funds of the Bank comprised approximately 95%, and the risk-weighted assets of
the Bank&#8217;s resolution group amounted to &#8364;207,362 million.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.9pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">According
to our own estimates, we believe that the current own funds and eligible
liabilities structure of the Bank&#8217;s resolution group is in line with the above
MREL. However, the Bank&#8217;s MREL is subject to change and no assurance can be
given that the Bank may not be subject to a higher MREL at any time in the
future.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.9pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">The EU
Banking Reforms further include, as part of MREL, a new subordination
requirement of eligible instruments for G-SIBs and &#8220;top tier&#8221; banks (including
the Bank) that will be determined according to their systemic importance,
involving a minimum &#8220;Pillar 1&#8221; subordination requirement. This &#8220;Pillar 1&#8221;
subordination requirement shall be satisfied with own funds and other eligible
MREL instruments (which MREL instruments may not for these purposes be senior
debt instruments and only MREL instruments constituting &#8220;non-preferred&#8221; senior
debt under the new insolvency hierarchy introduced into Spain will be eligible
for compliance with the subordination requirement). For &#8220;top tier&#8221; banks such
as the Bank, this &#8220;Pillar 1&#8221; subordination requirement has been determined as
the higher of 13.5% of the bank&#8217;s risk weighted assets (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">RWAs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8221;) and 5%
of its leverage exposure. Resolution authorities may also impose further
&#8220;Pillar 2&#8221; subordination requirements, which would be determined on a
case-by-case basis but at a minimum level equal to the lower of 8% of a bank&#8217;s
total liabilities and own funds and 27% of its RWAs. </font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.5pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Any failure or perceived failure by the Bank and/or the
Group to comply with its MREL (including the subordination requirement) may
have a material adverse effect on the Bank&#8217;s business, financial conditions and
results of operations and could result in the imposition of restrictions or
prohibitions on discretionary payments by the Bank, including the payment of
dividends and interest or distributions on Additional Tier 1 instruments. There
can also be no assurance as to the relationship between the &#8220;Pillar 2&#8221;
additional own funds requirements, the &#8220;combined buffer requirement&#8221;, the MRELs
once implemented in Spain and the restrictions or prohibitions on discretionary
payments.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">Increased taxation and other burdens imposed on the
financial sector may have a material adverse effect on the Bank&#8217;s business,
financial condition and results of operations </font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On February 14, 2013, the European
Commission published a proposal (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Commission&#8217;s Proposal</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) for a Directive
for a common financial transaction tax (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">FTT</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) in Belgium, Germany,
Estonia, Greece, Spain, France, Italy, Austria, Portugal, Slovenia and Slovakia
(the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">participating Member States</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). However, Estonia has since stated
that it will not participate.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Commission&#8217;s Proposal has very broad
scope and could, if introduced, apply to certain dealings in securities issued
by the Group or other issuers (including secondary market transactions) in
certain circumstances.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under the Commission&#8217;s Proposal, the FTT
could apply in certain circumstances to persons both within and outside the
participating Member States. Generally, it would apply to certain dealings in
securities where at least one party is a financial institution and at least one
party is established in a participating Member State. A financial institution
may be, or be deemed to be, &#8220;established&#8221; in a participating Member State in a
broad range of circumstances, including (i) by transacting with a person
established in a participating Member State or (ii) where the financial
instrument which is subject to the dealings is issued in a participating Member
State.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">However, the FTT proposal remains subject
to negotiation among the participating Member States. It may therefore be
altered prior to any implementation, the timing of which remains unclear.
Additional EU Member States may decide to participate and participating Member
States may decide not to participate.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">While the
final outcome of the Commission&#8217;s Proposal continues to be uncertain, the
Spanish council of ministers approved during a meeting held on January 18, 2019
the Bill on the Financial Transaction Tax (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish FTT Bill</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;),
which is based in part on the Commission&#8217;s Proposal. The Spanish FTT Bill
introduces a new indirect tax, amounting to 0.2%, to be charged on acquisitions
of shares in Spanish companies, regardless of the tax residence of the
participants in such transactions, provided that such companies are listed and
their respective market capitalization is above &#8364;1,000 million. If the Spanish
FTT Bill becomes law and subsequently the FTT is approved under a Directive,
the Spanish FTT Law should be adapted to the Directive&#8217;s content.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Moreover, Law 18/2014, of October 15,
introduced a 0.03% tax on bank deposits in Spain. This tax is payable annually
by Spanish banks. </font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">There can be no assurance that additional
national or transnational bank levies or financial transaction taxes will not
be adopted by the authorities of the jurisdictions where the Bank operates.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any levies, taxes or funding requirements
imposed on the Bank pursuant to the foregoing or otherwise in any of the
jurisdictions where it operates could have a material adverse effect on the
Bank&#8242;s business, financial condition and results of operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">Contributions for assisting in the future recovery and
resolution of the Spanish banking sector may have a material adverse effect on
the Bank&#8217;s business, financial condition and results of operations</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 11/2015 and RD 1012/2015 require
Spanish credit institutions, including BBVA, to make at least an annual
ordinary contribution to the National Resolution Fund (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fondo de Resoluci&#243;n
Nacional</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">), payable on request of the FROB. The total amount of
contributions to be made to the National Resolution Fund by all Spanish banking
entities must equal at least 1% of the aggregate amount of all deposits
guaranteed by the Deposit Guarantee Fund (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fondo de Garant&#237;a de Dep&#243;sitos de
Entidades de Cr&#233;dito</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) by December 31, 2024. The contribution will be
adjusted to the risk profile of each institution in accordance with the
criteria set out in Council Implementing Regulation (EU) 2015/81 of December
19, 2014 and RD 1012/2015. The FROB may, in addition, collect extraordinary
contributions.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Furthermore, Law 11/2015 also provides for
an additional charge (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">tasa</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) which shall be used to further fund the
activities of the FROB, in its capacity as a resolution authority, which charge
shall equal 2.5% of the above annual ordinary contribution to be made to the
National Resolution Fund.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Moreover, Commission Delegated Regulation
(EU) 2017/2361 of September 14, 2017 establishes the system of contributions to
the administrative expenditures of the Single Resolution Board, to be paid by
credit institutions in the EU. In addition, since 2016, the Bank has been
required to make contributions directly to the EU Single Resolution Fund, once
the National Resolution Fund has been integrated into it.</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Regulatory
developments related to the EU fiscal and banking union may have a material
adverse effect on the Bank&#8217;s business, financial condition and results of
operations</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></i></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any levies, taxes or funding requirements
imposed on the Bank pursuant to the foregoing or otherwise in any of the
jurisdictions where it operates could have a material adverse effect on the
Bank&#8217;s business, financial condition and results of operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">Regulatory developments related to the EU fiscal and
banking union may have a material adverse effect on the Bank&#8217;s business,
financial condition and results of operations</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The project of achieving a European
banking union was launched in the summer of 2012. Its main goal is to resume
progress towards the European single market for financial services by restoring
confidence in the European banking sector and ensuring the proper functioning
of monetary policy in the Eurozone.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Banking union is expected to be achieved
through new harmonized banking rules (the single rulebook) and a new
institutional framework with stronger systems for both banking supervision and
resolution that will be managed at the European level. Its two main pillars are
the SSM and the SRM.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The SSM is
intended to assist in making the banking sector more transparent, unified and
safer. In accordance with the SSM Framework Regulation, the ECB fully assumed
its new supervisory responsibilities within the SSM, in particular the direct
supervision of the largest European banks (including the Bank), on November 4,
2014.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The SSM represents a significant change in
the approach to bank supervision at a European and global level, even if it is
not expected to result in any radical change in bank supervisory practices in
the short term. The SSM has resulted in the direct supervision by the ECB of
the largest financial institutions, including the Bank, and indirect
supervision of around 3,500 financial institutions. In the coming years, the
SSM is expected to work to establish a new supervisory culture importing best
practices from the 19 supervisory authorities that form part of the SSM.
Several steps have already been taken in this regard, such as (i) the
publication of the Supervisory Guidelines, (ii) the approval of the SSM
Framework Regulation, (iii) the approval of Regulation (EU) 2016/445 of the ECB
of March 14, 2016 on the exercise of options and discretions available in
European Union law, and (iv) a set of guidelines on the application of CRR&#8217;s
national options and discretions. In addition, the SSM represents an extra cost
for the financial institutions that fund it through payment of supervisory
fees.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The other main pillar of the EU banking
union is the SRM, the main purpose of which is to ensure a prompt and coherent
resolution of failing banks in Europe at minimum cost. The SRM Regulation
establishes uniform rules and a uniform procedure for the resolution of credit
institutions and certain investment firms in the framework of the SRM and a
Single Resolution Fund. The new SRB started operating on January&nbsp;1, 2015
and fully assumed its resolution powers on January&nbsp;1, 2016. The Single
Resolution Fund has also been in place since January 1, 2016, funded by
contributions from European banks in accordance with the methodology approved
by the Council of the European Union. The Single Resolution Fund is intended to
reach a total amount of &#8364;55 billion by 2024 and to be used as a separate
backstop only after an 8% bail-in of a bank&#8217;s total liabilities including own
funds has been applied to cover capital shortfalls (in line with the BRRD).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">By allowing for the consistent application
of EU banking rules through the SSM, the banking union is expected to help
resume momentum toward economic and monetary union. In order to complete such
union, a single deposit guarantee scheme is still needed, which may require a
change to the existing European treaties. This is the subject of continued
negotiation by European leaders to ensure further progress is made in European
fiscal, economic and political integration.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regulations adopted towards achieving
banking and/or fiscal union in the EU and decisions adopted by the ECB in its
capacity as the Bank&#8217;s main supervisory authority may have a material effect on
the Bank&#8217;s business, financial condition and results of operations. In
addition, on January&nbsp;29, 2014, the European Commission released its
proposal on the structural reforms of the European banking sector, which will
impose new constraints on the structure of European banks. The proposal is
aimed at ensuring the harmonization between the divergent national initiatives
in Europe. It includes a prohibition on proprietary trading similar to that
contained in Section&nbsp;619 of the Dodd-Frank Act (also known as the Volcker
Rule) and a mechanism to potentially require the separation of trading
activities (including market-making), such as in the Financial Services
(Banking Reform) Act 2013, complex securitizations and risky derivatives.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">There can be no assurance that regulatory
developments related to the EU fiscal and banking union, and initiatives
undertaken at the EU level, will not have a material adverse effect on the
Bank&#8217;s business, financial condition and results of operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;">&nbsp;</h5>
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The Group&#8217;s anti-money
laundering and anti-terrorism programs may be circumvented or otherwise not be
sufficient to prevent all money laundering or terrorism financing</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Group companies are subject to rules and
regulations regarding money laundering and the financing of terrorism.
Monitoring compliance with anti-money laundering and anti-terrorism financing
rules can put a significant financial burden on banks and other financial
institutions and pose significant technical problems. Although the Group
believes that its current anti-money laundering program (which includes, among
other elements, policies, procedures, technical infrastructure, independent
reviews and training activities) is sufficient to comply with applicable rules
and regulations, it cannot guarantee that its anti-money laundering and
anti-terrorism financing programs will not be circumvented or otherwise be
sufficient to prevent all money laundering or terrorism financing. Any of such
events may have severe consequences, including sanctions, fines and, notably,
reputational consequences, which could have a material adverse effect on the
Group&#8217;s financial condition and results of operations. Further, the Group
engages in investigations relating to alleged or suspected violations of
anti-money laundering or anti-terrorism rules and regulations from time to time
and any such investigations or any related proceedings could be time-consuming
and costly.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The Group is exposed to risks in relation to compliance
with anti-corruption laws and regulations and economic sanctions programs</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group is required to comply with the
laws and regulations of various jurisdictions where it conducts operations. In
particular, its operations are subject to various anti-corruption laws,
including the U.S. Foreign Corrupt Practices Act of 1977 and the United Kingdom
Bribery Act of 2010, and economic sanction programs, including those
administered by the United Nations, the EU and the United States, including the
U.S. Treasury Department&#8217;s Office of Foreign Assets Control. The
anti-corruption laws generally prohibit providing anything of value to
government officials for the purposes of obtaining or retaining business or
securing any improper business advantage. As part of the Group&#8217;s business, the
Group may directly or indirectly, through third parties, deal with entities the
employees of which are considered government officials. In addition, economic
sanctions programs restrict the Group&#8217;s business dealings with certain
sanctioned countries, individuals and entities.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Although the Group has adopted internal
policies, procedures, systems and other mitigating measures designed to ensure
compliance with applicable anti-corruption laws and sanctions regulations,
there can be no assurance that such policies, procedures, systems and other
mitigating measures will be sufficient or that its employees, directors,
officers, partners, agents and service providers will not take actions in
violation of the Group&#8217;s policies and procedures (or otherwise in violation of
the relevant anti-corruption laws and sanctions regulations) for which it or
they may be ultimately held responsible. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">The
Group engages in investigations relating to alleged or suspected violations of
anti-corruption laws and sanctions regulations from time to time and such
investigations or any related proceedings could be time-consuming and costly <a name="m_3013046152258666266_m_917295077"></a>and their outcomes difficult to
predict.<a name="m_3013046152258666266_m_917295077_bclEnd"></a> </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Violations of anti-corruption laws and
sanctions regulations could lead to financial penalties being imposed on the
Group, limits being placed on the Group&#8217;s activities, the Group&#8217;s authorizations
and licenses being revoked, damage to the Group&#8217;s reputation and other
consequences that could have a material adverse effect on the Group&#8217;s business,
results of operations and financial condition. </font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">Local regulation may have a material effect on the Bank&#8217;s
business, financial condition, results of operations and cash flows</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Bank&#8217;s operations are subject to
regulatory risks, including the effects of changes in laws, regulations,
policies and interpretations, in the various jurisdictions outside Spain where
it operates. Regulations in certain jurisdictions where the Bank operates
differ in a number of material respects from equivalent regulations in Spain.
For example, local regulations may require the Bank&#8217;s subsidiaries and
affiliates to meet capital requirements that are different from those
applicable to the Bank as a Spanish bank, they may prohibit certain activities
permitted to be undertaken by the Bank in Spain or they may require certain
approvals to be obtained in connection with such subsidiaries and affiliates&#8217;
activities. Changes in regulations may have a material effect on the Group&#8217;s
business and operations, particularly changes affecting Mexico, the United
States or Turkey, which are the Group&#8217;s most significant jurisdictions by
assets other than Spain.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Furthermore,
the governments in certain regions where the Group operates have exercised, and
continue to exercise, significant influence over the local economy.
Governmental actions, including changes in laws or regulations or in the interpretation
of existing laws or regulations, concerning the economy and state-owned
enterprises, or otherwise affecting the Group&#8217;s activity, could have a
significant effect on the private sector entities in general and on the Bank&#8217;s
subsidiaries and affiliates in particular. In addition, the Group&#8217;s activities
in emerging economies, such as Venezuela, are subject to a heightened risk of
changes in governmental policies, including expropriation, nationalization,
international ownership legislation, interest-rate caps, exchange controls,
government restrictions on dividends and tax policies. Any of these risks could
have a material adverse effect on the Group&#8217;s business, financial condition and
results of operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The Group is </font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">party</font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;"> to a number of legal and regulatory actions and
proceedings</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">BBVA and its subsidiaries are involved in
a number of legal and regulatory actions and proceedings, including legal
claims and proceedings, civil and criminal regulatory proceedings, governmental
investigations and proceedings, tax proceedings and other proceedings, in
jurisdictions around the world, the final outcome of which is unpredictable,
including in the case of legal proceedings where claimants seek unspecified or
undeterminable damages, or where the cases argue novel legal theories, involve
a large number of parties or are at early stages of discovery or investigation.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Legal and regulatory actions and
proceedings against financial institutions have been on the rise in Spain and
other jurisdictions where the Group operates over the last decade, fueled in
part by certain recent consumer-friendly rulings. In certain instances, these
rulings were as a result of appeals made to national or supranational courts
(such as the European Court of Justice). Legal and regulatory actions and
proceedings faced by the Group include legal proceedings brought by clients
before Spanish and European courts in relation to mortgage loan agreements in
which claimants seek that certain provisions of such agreements be declared
null and void (including provisions concerning fees and other expenses, early
termination, the use of certain interest rate indexes and the use of &#8220;floor&#8221;
clauses limiting the interest rates in mortgages loans). Legal and regulatory
actions and proceedings faced by other financial institutions regarding these
or other matters, especially if such actions or proceedings result in
consumer-friendly rulings, could also adversely affect the Group. The Group is
also involved in antitrust proceedings and investigations in certain countries
which could, among other matters, give rise to sanctions or lead to lawsuits
from clients or other persons. For example, in April 2017, the Mexican Federal
Economic Competition Commission (</font><i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Comisi&#243;n Federal de Competencia Econ&#243;mica</font></i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">
or the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">COFECE</font></b><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&#8221;) launched an antitrust investigation relating to alleged
monopolistic practices of certain financial institutions, including BBVA&#8217;s
subsidiary BBVA Bancomer, in connection with transactions in Mexican government
bonds. The Mexican Banking and Securities Exchange Commission (</font><i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Comisi&#243;n
Nacional Bancaria y de Valores</font></i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">) also initiated a separate investigation
regarding this matter, which resulted in certain fines being initially imposed,
insignificant in amount, which BBVA Bancomer has challenged. In March 2018,
BBVA Bancomer and certain other affiliates of the Group were named as
defendants in a putative class action lawsuit filed in the United States
District Court for the Southern District of New York, alleging that the
defendant banks and their named subsidiaries engaged in collusion with respect
to the purchase and sale of Mexican government bonds. The plaintiffs seek
unspecified monetary relief.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">29</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">The outcome of legal and
regulatory actions and proceedings, both those to which the Group is currently
exposed and any others which may arise in the future, including actions and
proceedings related to former subsidiaries of the Group or in respect of which
the Group may have indemnification obligations, is difficult to predict.
However, in connection with such matters the Group may incur significant
expense, regardless of the ultimate outcome, and any such matters could expose
the Group to any of the following outcomes: substantial monetary damages,
settlements and/or fines; remediation of affected customers and clients; other
penalties and injunctive relief; additional litigation; criminal prosecution in
certain circumstances; regulatory restrictions on the Group&#8217;s business
operations including the withdrawal of authorizations; changes in business
practices; increased regulatory compliance requirements; the suspension of
operations; public reprimands; the loss of significant assets or business; a
negative effect on the Group&#8217;s reputation; loss of confidence by investors,
counterparties, customers, clients, supervisors and other stakeholders; risk of
credit rating agency downgrades; a potential negative impact on the
availability and cost of funding and liquidity; and the dismissal or
resignation of key individuals. There is also a risk that the outcome of any
legal or regulatory actions or proceedings in which the Group is involved may
give rise to changes in laws or regulations as part of a wider response by
relevant lawmakers and regulators. A decision in any matter, either against the
Group or another financial institution facing similar claims, could lead to
further claims against the Group. In addition, responding to the demands of
litigation may divert management&#8217;s time and attention and the Group&#8217;s financial
resources. Moreover, where provisions have already been taken in connection
with an action or proceeding, such provisions could prove to be inadequate.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">As a result of the above, legal and
regulatory actions and proceedings currently faced by the Group or to which it
may become subject in the future or otherwise affected by, individually or in
the aggregate, if resolved in whole or in part adversely to the Group, could
have a material adverse effect on the Group&#8217;s business, financial condition and
results of operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><a name=S164727164></a><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">We may be affected by actions that
are incompatible with our ethics and compliance standards, and by our </font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">failure</font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;"> to timely
detect or remedy any such actions</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Some of our management and/or employees
and/or persons doing business with us may engage in activities that are
incompatible with our ethics and compliance standards. Although we have adopted
measures designed to identify, monitor and mitigate such actions, and remediate
them when we become aware of them, we are subject to the risk that our
management and/or employees and/or persons doing business with us may engage in
fraudulent activity, corruption or bribery, circumvent or override our internal
controls and procedures or misappropriate or manipulate our assets for their
personal or business advantage to our detriment.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Our business, including relationships with
third parties, is guided by ethical principles. We have adopted a Code of
Conduct, applicable to all companies and persons which form part of the Group,
and a number of internal policies designed to guide our management and
employees and reinforce our values and rules for ethical behavior and
professional conduct. For further information on our Code of Conduct, see</font><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;"> </font></b><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&#8220;</font><i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Item
16B.Code of Ethics</font></i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&#8221;. However, we are unable to ensure that all of our
management and employees, more than 125,000 people, or persons doing business
with us comply at all times with our ethical principles. Acts of misconduct by
any employee, and particularly by senior management, could erode trust and
confidence and damage the Group&#8217;s reputation among existing and potential
clients and other stakeholders. Negative public opinion could result from
actual or alleged conduct by Group entities in any number of activities or
circumstances, including operations, employment-related offenses such as sexual
harassment and discrimination, regulatory compliance, the use and protection of
data and systems, and the satisfaction of client expectations, and from actions
taken by regulators or others in response to such conduct.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.85pt;"><a name="S164727164_bclEnd"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As
of the date of this Annual Report, we are conducting an investigation, led by
PricewaterhouseCoopers through the Bank&#8217;s external legal counsel Garrigues,
along with Ur&#237;a Men&#233;ndez, regarding allegations of improper activity related to
our relationship with Grupo Cenyt which may have violated our ethical standards
and applicable governance or regulatory obligations. Governmental authorities
are also investigating this matter. We are carrying out our investigation to
protect the Group&#8217;s interests and in connection therewith are cooperating with
governmental authorities and our supervisors. It is not possible at this time
to predict the scope or duration of our investigation or any investigations by
governmental authorities, or their likely outcomes.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Any failure, whether real or
perceived, to follow our ethical principles or to comply with applicable
governance or regulatory obligations could harm our reputation, subject us to
additional regulatory scrutiny, or otherwise adversely affect the Group&#8217;s
business, financial condition and results of operations.</font></font></p>

<h4 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">Liquidity
and Financial Risks </font></b></font></h4>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The Bank has a continuous demand for liquidity to fund its
business activities. The Bank may suffer during periods of market-wide or
firm-specific liquidity constraints, and liquidity may not be available to it
even if its underlying business remains strong</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Liquidity and funding continue
to remain a key area of focus for the Group and the industry as a whole. Like
all major banks, the Group is dependent on confidence in the short- and
long-term wholesale funding markets. Should the Group, due to exceptional
circumstances or otherwise, be unable to continue to source sustainable
funding, its ability to fund its financial obligations could be affected.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Bank&#8217;s profitability or
solvency could be adversely affected if access to liquidity and funding is
constrained or made more expensive for a prolonged period of time. Under
extreme and unforeseen circumstances, such as the closure of financial markets
and uncertainty as to the ability of a significant number of firms to ensure
they can meet their liabilities as they fall due, the Group&#8217;s ability to meet
its financial obligations as they fall due or to fulfil its commitments to lend
could be affected through limited access to liquidity (including government and
central bank facilities). In such extreme circumstances, the Group may not be
in a position to continue to operate without additional funding support, which
it may be unable to access. These factors may have a material adverse effect on
the Group&#8217;s solvency, including its ability to meet its regulatory minimum
liquidity requirements. These risks can be exacerbated by operational factors
such as an over-reliance on a particular source of funding or changes in credit
ratings, as well as market-wide phenomena such as market dislocation, regulatory
change or major disasters.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, corporate and
institutional counterparties may seek to reduce aggregate credit exposures to
the Bank (or to all banks), which could increase the Group&#8217;s cost of funding
and limit its access to liquidity. The funding structure employed by the Group
may also prove to be inefficient, thus giving rise to a level of funding cost
where the cumulative costs are not sustainable over the longer term. The
funding needs of the Group may increase and such increases may be material to
the Group&#8217;s business, financial condition and results of operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">Withdrawals of deposits or other sources of liquidity may
make it more difficult or costly for the Group to fund its business on
favorable terms, cause the Group to take other actions or even lead to the
exercise of any Spanish Bail-in Power</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Historically, one of the
Group&#8217;s principal sources of funds has been savings and demand deposits.
Large-denomination time deposits may, under some circumstances, such as during
periods of significant interest-rate-based competition for these types of
deposits, be a less stable source of deposits than savings and demand deposits.
The level of wholesale and retail deposits may also fluctuate due to other
factors outside the Group&#8217;s control, such as a loss of confidence (including as
a result of administrative initiatives, including the exercise of any Spanish
Bail-in Power and/or confiscation and/or taxation of creditors&#8217; funds) or
competition from investment funds or other products. The introduction of a
national tax on outstanding deposits could adversely affect the Group&#8217;s
activities, especially in Spain.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Moreover, there can be no
assurance that, in the event of a sudden or unexpected withdrawal of deposits
or shortage of funds in the banking systems or money markets in which the Group
operates, or where such withdrawal specifically affects the Group, the Group
will be able to maintain its current levels of funding without incurring higher
funding costs or having to liquidate certain of its assets. Furthermore, in
such an event, the Bank could be subject to </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the adoption of an early intervention or, ultimately,
resolution measure by a Relevant Spanish Resolution Authority</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">pursuant to Law 11/2015
(including, among others but without limitation, the Spanish Bail-in Power </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and/or</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> Non-Viability Loss
Absorption)</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. See</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &#8220;&#8212;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Legal, Regulatory and
Compliance Risks&#8212;Bail-in and write-down powers under the BRRD and the SRM
Regulation may adversely affect our business and the value of any securities we
may issue</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; below.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In
addition, if public sources of liquidity, such as the ECB extraordinary
measures adopted in response to the financial crisis since 2008, are removed
from the market, there can be no assurance that the Group will be able to
maintain its current levels of funding without incurring higher funding costs
or having to liquidate certain of its assets or taking additional deleverage
measures, and could be subject to the adoption of </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">any early intervention or,
ultimately, resolution measures by resolution authorities pursuant to Law
11/2015 (including, among others but without limitation, the Spanish Bail-in
Power and/or Non-Viability Loss Absorption).</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">Implementation of internationally accepted liquidity ratios
might require changes in business practices that affect the profitability of
the Bank&#8217;s business activities</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">The liquidity coverage ratio
(&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">LCR</font></b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&#8221;) is a quantitative liquidity standard developed by the BCBS to
ensure that those banking organizations to which this standard applies have
sufficient high-quality liquid assets to cover expected net cash outflows over
a 30-day liquidity stress period. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">The final standard was announced in January
2013 by the BCBS. The LCR has been progressively implemented since 2015 in
accordance with the CRR, with banks having had to fully comply (100%) with such
ratio since January 1, 2018. As of </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">December 31</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">, 2018, the LCR of the Group
was 127%.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">The BCBS&#8217;s net stable funding
ratio (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">NSFR</font></b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&#8221;) has a time horizon of one year and has been
developed to provide a sustainable maturity structure of assets and liabilities
such that banks maintain a stable funding profile in relation to their on- and
off-balance sheet activities that reduces the likelihood that disruptions to a
bank&#8217;s regular sources of funding will erode its liquidity position in a way
that could increase the risk of its failure. The BCBS contemplated that the
NSFR, including any revisions, was to be implemented by member countries as a
minimum standard by January 1, 2018, with no phase-in. While the NSFR has not
yet been introduced, the EU Banking Reforms propose the introduction of a
harmonized binding requirement for the NSFR across the EU.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Various elements of the LCR
and the NSFR, as they are implemented by national banking regulators and
complied with by the Bank, may cause changes that affect the profitability of
business activities and require changes to certain business practices, which
could expose the Bank to additional costs (including increased compliance
costs) or have a material adverse effect on the Bank&#8217;s business, financial
condition or results of operations. These changes may also cause the Bank to
invest significant management attention and resources to make any necessary
changes.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The Group&#8217;s businesses are subject to inherent risks
concerning borrower and counterparty credit quality which have affected and are
expected to continue to affect the recoverability and value of assets on the
Group&#8217;s balance sheet</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">The Group has exposures to
many different products, counterparties and obligors and the credit quality of
its exposures can have a significant effect on the Group&#8217;s earnings. Adverse
changes in the credit quality of the Group&#8217;s borrowers and counterparties or
collateral, or in their behavior or businesses, may reduce the value of the
Group&#8217;s assets, and materially increase the Group&#8217;s write-downs and provisions
for impairment losses. Credit risk can be affected by a range of factors,
including an adverse economic environment, reduced consumer and/or government
spending, global economic slowdown, changes in the rating of individual
counterparties, the debt levels of individual contractual counterparties and
the economic environment they operate in, increased unemployment, reduced asset
values, increased personal or corporate insolvency levels, reduced corporate
profits, changes (and the timing, quantum and pace of these changes) in
interest rates, counterparty challenges to the interpretation or validity of
contractual arrangements and any external factors of a legislative or
regulatory nature. In recent years, the global economic crisis has driven
cyclically high bad debt charges.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Non-performing or
low credit quality loans have in the past and can continue to negatively affect
the Bank&#8217;s results of operations. The Bank cannot assure that it will be able
to effectively control the level of the impaired loans in its total loan
portfolio. At present, default rates are partly cushioned by low rates of
interest which have improved customer affordability, but the risk remains of
increased default rates as interest rates start to rise. The timing, quantum
and pace of any rise are key risk factors. All new lending is dependent on the
Group&#8217;s assessment of each customer&#8217;s ability to pay, and there is an inherent
risk that the Group has incorrectly assessed the credit quality or willingness
of borrowers to pay, possibly as a result of incomplete or inaccurate
disclosure by those borrowers or as a result of the inherent uncertainty that
is involved in the exercise of constructing models to estimate the true risk of
lending to counterparties. The Group estimates and establishes reserves for
credit risks and potential credit losses inherent in its credit exposure. This
process, which is critical to the Group&#8217;s results and financial condition,
requires difficult, subjective and complex judgments, including forecasts of
how macro-economic conditions might impair the ability of borrowers to repay
their loans. As is the case with any such assessments, there is always a risk
that the Group will fail to adequately identify the relevant factors or that it
will fail to estimate accurately the effect of these identified factors, which
could have a material adverse effect on the Group&#8217;s business, financial
condition or results of operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The Group&#8217;s business is particularly vulnerable to
volatility in interest rates</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">The Group&#8217;s results of
operations are substantially dependent upon the level of its net interest
income, which is the difference between interest income from interest-earning
assets and interest expense on interest-bearing liabilities. Interest rates are
highly sensitive to many factors beyond the Group&#8217;s control, including fiscal
and monetary policies of governments and central banks, regulation of the
financial sectors in the markets in which it operates, domestic and international
economic and political conditions and other factors. Changes in market interest
rates,</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">
&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">including
cases of negative reference rates, can affect the interest rates that the Group
receives on its interest-earning assets differently to the rates that it pays
for its interest-bearing liabilities. This may, in turn, result in a reduction
of the net interest income the Group receives, which could have a material
adverse effect on its results of operations.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">In addition, the high
proportion of loans referenced to variable interest rates makes debt service on
such loans more vulnerable to changes in interest rates. In addition, a rise in
interest rates could reduce the demand for credit and the Group&#8217;s ability to
generate credit for its clients, as well as contribute to an increase in the
credit default rate. As a result of these and the above factors, significant
changes or volatility in interest rates could have a material adverse effect on
the Group&#8217;s business, financial condition or results of operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The </font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">Group has a </font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">substantial</font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;"> amount</font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;"> of </font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">commitments with
personnel considered wholly unfunded due</font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;"> to </font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">the absence of qualifying plan assets</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">The Group&#8217;s commitments with
personnel which are considered to be wholly unfunded are recognized under the
heading &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Provisions&#8212;Provisions for Pensions and Similar Obligations</font></i><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&#8221; in
its consolidated balance sheets included in the Consolidated Financial
Statements. For more information, please see Note 25 to our Consolidated
Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">The Group faces liquidity risk
in connection with its ability to make payments on its unfunded commitments
with personnel, which it seeks to mitigate, with respect to post-employment
benefits, by maintaining insurance contracts which were contracted with
insurance companies owned by the Group. The insurance companies have recorded
in their balance sheets specific assets (fixed interest deposit and bonds)
assigned to the funding of these commitments. The insurance companies also
manage derivatives (primarily swaps) to mitigate the interest rate risk in
connection with the payments of these commitments. The Group seeks to mitigate
liquidity risk with respect to early retirements and post-employment welfare
benefits through oversight by the Assets and Liabilities Committee (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">ALCO</font></b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&#8221;)
of the Group. The Group&#8217;s ALCO manages a specific asset portfolio to mitigate
the liquidity risk resulting from the payments of these commitments. These
assets are government and covered bonds which are issued at fixed interest
rates with maturities matching the aforementioned commitments. The Group&#8217;s ALCO
also manages derivatives (primarily swaps) to mitigate the interest rate risk
in connection with the payments of these commitments. Should BBVA fail to
adequately manage liquidity risk and interest rate risk either as described
above or otherwise, it could have a material adverse effect on the Group&#8217;s
business, financial condition and results of operations.<a name=RANGEF8I16></a><a name="RANGEF8I16_bclEnd"></a></font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;">&nbsp;</h5>
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The Bank and certain of its
subsidiaries are dependent on their credit ratings and any reduction of their
credit ratings could materially and adversely affect the Group&#8217;s business,
financial condition and results of operations</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">The Bank and certain of its
subsidiaries are rated by various credit rating agencies. The credit ratings of
the Bank and such subsidiaries are an assessment by rating agencies of their
ability to pay their obligations when due. Any actual or anticipated decline in
the Bank&#8217;s or such subsidiaries&#8217; credit ratings to below investment grade or
otherwise may increase the cost of and decrease the Group&#8217;s ability to finance
itself in the capital markets, secured funding markets (by affecting its
ability to replace downgraded assets with better-rated ones), or interbank
markets, through wholesale deposits or otherwise, harm its reputation, require it
to replace funding lost due to the downgrade, which may include the loss of
customer deposits, and make third parties less willing to transact business
with the Group or otherwise materially adversely affect its business, financial
condition and results of operations. Furthermore, any decline in the Bank&#8217;s or
such subsidiaries&#8217; credit ratings to below investment grade or otherwise could
breach certain agreements or trigger additional obligations under such
agreements, such as a requirement to post additional collateral, which could
materially adversely affect the Group&#8217;s business, financial condition and
results of operations. See &#8220;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:11.0pt;line-height:13.0pt;">&#8212;</font></font><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Macroeconomic Risks</font></i></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:11.0pt;line-height:13.0pt;">&#8212;</font></font><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Any decline in the Kingdom of Spain&#8217;s sovereign credit ratings
could adversely affect the Group&#8217;s business, financial condition and results of
operations</font></i></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&#8221;.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">Highly-indebted households and corporations could endanger
the Group&#8217;s asset quality and future revenues</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">In recent years, households
and businesses have reached a high level of indebtedness, particularly in
Spain, which has created increased risk in the Spanish banking system. In
addition, the high proportion of loans referenced to variable interest rates
makes debt service on such loans more vulnerable to upward movements in
interest rates and the profitability of the loans more vulnerable to interest
rate decreases. Highly indebted households and businesses are less likely to be
able to service debt obligations as a result of adverse economic events, which
could have an adverse effect on the Group&#8217;s loan portfolio and, as a result, on
its financial condition and results of operations. Moreover, the increase in
households&#8217; and businesses&#8217; indebtedness also limits their ability to incur
additional debt, reducing the number of new products that the Group may otherwise
be able to sell to them and limiting the Group&#8217;s ability to attract new
customers who satisfy its credit standards, which could have an adverse effect
on the Group&#8217;s ability to achieve its growth plans.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The Group depends in part upon dividends and other funds
from subsidiaries </font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Some of the Group&#8217;s operations
are conducted through its financial services subsidiaries. As a result, the
Bank&#8217;s ability to pay dividends, to the extent the Bank decides to do so,
depends in part on the ability of the Group&#8217;s subsidiaries to generate earnings
and to </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">pay
dividends to BBVA. Payment of dividends, distributions and advances by the
Group&#8217;s subsidiaries is contingent upon their earnings and business
considerations and is or may be limited by legal, regulatory and contractual
restrictions. For instance, the repatriation of dividends from the Group&#8217;s
Venezuelan and Argentinean subsidiaries have been subject to certain
restrictions and there is no assurance that further restrictions will not be
imposed. Additionally, the Bank&#8217;s right to receive any assets of any of the
Group&#8217;s subsidiaries as an equity holder of such subsidiaries upon their
liquidation or reorganization will be effectively subordinated to the claims of
subsidiaries&#8217; creditors, including trade creditors. The Group also has to
comply with increased capital requirements, which could result in the
imposition of restrictions or prohibitions on discretionary payments including
the payment of dividends and other distributions to the Bank by its
subsidiaries (see &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Legal, Regulatory and Compliance Risks</font></i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&#8212;</font><i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Increasingly
onerous capital requirements may have a material adverse effect on the Bank&#8217;s
business, financial condition and results of operations</font></i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&#8221;</font><i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">)</font></i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">.&nbsp;</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;font-style:normal;">Business and Industry Risks</font></b></font></h5>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The Group faces increasing competition in its business
lines </font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The markets in which the Group
operates are highly competitive and this trend will likely continue with new
business models likely to be developed in coming years whose impact is
unforeseeable. In addition, the trend towards consolidation in the banking
industry has created larger and stronger banks with which the Group must now
compete.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
Group also faces competition from non-bank competitors, such as payment
platforms, e-commerce businesses, department stores (for some credit products),
automotive finance corporations, leasing companies, factoring companies, mutual
funds, pension funds, insurance companies, and public debt.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">recent y</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ears, the financial services
sector has experienced a significant transformation, closely linked to the
development of the i</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">nternet</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and mobile technologies. Part of that transformation involves the
entrance of new players, such as non-bank digital providers that compete (and
cooperate) between them and with banks in most of the areas of financial services
as well as large digital players such as Amazon, Google, Facebook or Apple, who
have also started to offer financial services (mainly, payments and credit)
ancillary to their core </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">business.</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> However, as of the date of this </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Annual Report</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, there is an uneven playing field between
banks and such non-bank players. For example, banking groups are subject to
prudential regulations that have implications for most of their businesses,
including those in which they compete with non-bank players that are only subject
to activity-specific regulations or benefit from regulatory uncertainty. In
addition, fintech activities are generally subject to additional rules on
internal governance when they are carried out within a banking group. For
instance, the CRD IV Directive limits the ratio between the variable and the
fixed salary that financial institutions can pay to certain staff members
identified as risk takers. This places banking groups such as the Group at a
competitive disadvantage for attracting and retaining digital talent and for
retaining the founders and management teams of acquired start-ups.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Existing loopholes in the
regulatory framework are another source of uneven playing fields between banks
and non-bank players. Some new services or business models are not yet covered
under existing regulations. In these cases, asymmetries between players arise
since regulated providers often face obstacles to engage in unregulated
activities. For instance, the EBA has recommended to competent authorities that
they prevent credit institutions, payment institutions and e-money institutions
from buying, holding or selling virtual currencies.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s future success may
depend, in part, on its ability to use technology to provide products and
services that provide convenience to customers. Despite the technological
capabilities the Group has been developing </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">its commitment to </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">digitalization</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, as a result of the uneven playing field referred to above or for
other reasons, the Group may not be able to effectively implement new
technology-driven products and services or be successful in marketing or
delivering these products and services to its customers, which would adversely
affect the Group&#8217;s business, financial condition and results of operations.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, companies
offering new applications and financial-related services based on artificial
intelligence are becoming more competitive. The often lower cost and higher
processing speed of these new applications and services can be especially
attractive to technologically-adept purchasers. As technology continues to
evolve, more tasks currently performed by people may be replaced by automation,
machine learning and other advances outside of the Group&#8217;s control. If the
Group is not able to successfully keep pace with these technological advances,
its business may be adversely affected.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, the project of
achieving a European capital markets union was launched by the European
Commission as a plan to </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">mobilize</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> capital in Europe, being one of its main objectives to provide
businesses with a greater choice of funding at lower costs and to offer new
opportunities for savers and investors. These objectives are expected to be
achieved by developing a more diversified financial system complementing bank
financing with deep and developed capital markets, which may adversely affect
the Group&#8217;s business, financial condition and results of operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The Group faces risks related to its acquisitions and
divestitures </font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> Group&#8217;s mergers and
acquisitions activity involves divesting its interests in some businesses and
strengthening other business areas through acquisitions. The Group may not
complete these transactions in a timely manner, on a cost-effective basis or at
all. Even though the Group reviews the companies it plans to acquire, it is
generally not feasible for these reviews to be complete in all respects. As a
result, the Group may assume unanticipated liabilities, or an acquisition may
not perform as well as expected. In addition, transactions such as these are
inherently risky because of the difficulties of integrating people, operations
and technologies that may arise. There can be no assurance that any of the
businesses the Group acquires can be successfully integrated or that they will
perform well once integrated. Acquisitions may also lead to potential
write-downs due to unforeseen </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">business developments that may adversely affect the Group&#8217;s
results of operations.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">35</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
Group&#8217;s results of operations could also be negatively affected by acquisition
or divestiture-related charges, amortization of expenses related to intangibles
and charges for impairment of long-term assets. The Group may be subject to
litigation in connection with, or as a result of, acquisitions or divestitures,
including claims from terminated employees, customers or third parties, and the
Group may be liable for future or existing litigation and claims related to the
acquired business because either the Group is not indemnified for such claims
or the indemnification is insufficient. Further, in the case of a divestiture,
the Group may be required to indemnify the buyer in respect of certain matters,
including claims against the divested entity or business. Any of the foregoing,
could cause the Group to incur significant expenses and could materially adversely
affect its business, financial condition and results of operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The Group&#8217;s ability to maintain its competitive position
depends significantly on its international operations, which expose the Group
to foreign exchange, political and other risks in the countries in which it
operates, which could cause an adverse effect on its business, financial
condition and results of operations </font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">The Group operates commercial
banks and insurance and other financial services companies in various countries
and its overall success as a global business depends upon its ability to
succeed in differing economic, social and political conditions. The Group is
particularly sensitive to developments in Mexico, the United States, Turkey and
Argentina, which represented 14.3%, 12.1%, 9.8% and 1.2% of the Group&#8217;s assets
as at December 31, 2018, respectively.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">The Group is confronted with
different legal and regulatory requirements in many of the jurisdictions in
which it operates. See </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&#8220;</font></font><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&#8213;Legal, Regulatory and Compliance Risks&#8213;Local
regulation may have a material effect on the Bank&#8217;s business, financial
condition, results of operations and cash flows</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&#8221;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">. These include, but are not limited to,
different tax regimes and laws relating to the repatriation of funds or
nationalization or expropriation of assets. The Group&#8217;s international
operations may also expose it to risks and challenges which its local
competitors may not be required to face, such as exchange rate risk, difficulty
in managing a local entity from abroad, political risk which may be particular
to foreign investors and limitations on the distribution of dividends. As of
December 31, 2018, approximately 45.4% of the Group&#8217;s assets and approximately
44.6% of its liabilities were denominated in currencies other than euro.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">The Group&#8217;s
presence in locations such as the Latin American markets or Turkey requires it
to respond to rapid changes in market conditions in these countries and exposes
the Group to increased risks relating to emerging markets. See &#8220;&#8212;</font><i><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">Macroeconomic
Risks&#8212;The Group may be materially adversely affected by developments in the
emerging markets where it operates</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">&#8221;</font></font><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">.</font></i></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;"> There can be no assurance that the Group will succeed
in developing and implementing policies and strategies that are effective in
each country in which it operates or that any of the foregoing factors will not
have a material adverse effect on its business, financial condition and results
of operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;">&nbsp;</h5>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">36</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h5 style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;font-style:normal;">Reporting and Other Financial
and Operational Risks</font></b></font></h5>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">Weaknesses or failures in the Group&#8217;s internal or
outsourced processes, systems and security could materially adversely affect
its business, financial condition and results of operations and could result in
reputational damage</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Operational risks, through
inadequate or failed internal processes, systems (including financial reporting
and risk monitoring processes) or security, or from people-related or external
events, including the risk of fraud and other criminal acts carried out by
Group employees or against Group companies, are present in the Group&#8217;s
businesses. These businesses are dependent on processing and reporting
accurately and efficiently a high volume of complex transactions across
numerous and diverse products and services, in different currencies and subject
to a number of different legal and regulatory regimes. Any weakness in these
internal processes, systems or security could have an adverse effect on the
Group&#8217;s results, the reporting of such results, and on the ability to deliver
appropriate customer outcomes during the affected period. In addition, any
breach in security of the Group&#8217;s systems could disrupt its business, result in
the disclosure of confidential information and create significant financial and
legal exposure for the Group. Although the Group devotes significant resources
to maintain and regularly update its processes and systems that are designed to
protect the security of its systems, software, networks and other technology
assets, there is no assurance that all of its security measures will provide
absolute security. Furthermore, the Group has outsourced certain functions
(such as the storage of certain information) to third parties and, as a result,
it is dependent on the adequacy of the internal processes, systems and security
measures of such third parties. Any actual or perceived inadequacies,
weaknesses or failures in the Group&#8217;s systems, processes or security or the
systems, processes or security of such third parties could damage the Group&#8217;s
reputation (including harming customer confidence) or could otherwise have a
material adverse effect on its business, financial condition and results of
operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The financial industry is increasingly dependent on
information technology systems, which may fail, may not be adequate for the
tasks at hand or may no longer be available </font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">Banks and their
activities are increasingly dependent on highly sophisticated information
technology</font><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;"> </font></b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">(&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">IT</font></b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">&#8221;) systems. IT systems are vulnerable to a number
of problems, such as software or hardware malfunctions, computer viruses,
hacking and physical damage to vital IT centers. IT systems need regular
upgrading and banks, including the Bank, may not be able to implement necessary
upgrades on a timely basis or upgrades may fail to function as planned.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">Furthermore, the
Group is under continuous threat of loss due to cyber-attacks, especially as it
continues to expand customer capabilities to utilize internet and other remote
channels to transact business. Two of the most significant cyber-attack risks
that it faces are e-fraud and breach of sensitive customer data. Loss from
e-fraud occurs when cybercriminals breach and extract funds directly from
customers&#8217; or the Group&#8217;s accounts. A breach of sensitive customer data, such
as account numbers, could present significant reputational impact and significant
legal and/or regulatory costs to the Group.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">Over the past few
years, there have been a series of distributed denial of service attacks on
financial services companies. Distributed denial of service attacks are
designed to saturate the targeted online network with excessive amounts of
network traffic, resulting in slow response times, or in some cases, causing
the site to be temporarily unavailable. Generally, these attacks have not been
conducted to steal financial data, but meant to interrupt or suspend a
company&#8217;s internet service. While these events may not result in a breach of
client data and account information, the attacks can adversely affect the
performance of a company&#8217;s website and in some instances have prevented
customers from accessing a company&#8217;s website. Distributed denial of service
attacks, hacking and identity theft risks could cause serious reputational
harm. Cyber threats are rapidly evolving and the Group may not be able to
anticipate or prevent all such attacks. The Group&#8217;s risk and exposure to these
matters remains heightened because of the evolving nature and complexity of
these threats from cybercriminals and hackers, its plans to continue to provide
internet banking and mobile banking channels, and its plans to develop
additional remote connectivity solutions to serve its customers. The Group may
incur increasing costs in an effort to minimize these risks and could be held
liable for any security breach or loss.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">Additionally, fraud
risk may increase as the Group offers more products online or through mobile
channels.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">In addition to costs that may
be incurred as a result of any failure of its IT systems, the Group could face
fines from bank regulators if it fails to comply with applicable banking or
reporting regulations as a result of any such IT failure or otherwise.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">Any of the above risks could
have a material adverse effect on the Group&#8217;s business, financial condition and
results of operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The Group faces security risks, including denial of service
attacks, hacking, social engineering attacks targeting its partners and
customers, malware intrusion or data corruption attempts, and identity theft
that could result in the disclosure of confidential information, adversely
affect its business or reputation, and create significant legal and financial
exposure </font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">The Group&#8217;s computer systems and network
infrastructure and those of third parties, on which it is highly dependent, are
subject to security risks and could be susceptible to cyber-attacks, such as
denial of service attacks, hacking, terrorist activities or identity theft. The
Group&#8217;s business relies on the secure processing, transmission, storage and
retrieval of confidential, proprietary and other information in its computer
and data management systems and networks, and in the computer and data
management systems and networks of third parties. In addition, to access the
Group&#8217;s network, products and services, its customers and other third parties
may use personal mobile devices or computing devices that are outside of its
network environment and are subject to their own cybersecurity risks.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">The Group, its
customers, regulators and other third parties, including other financial
services institutions and companies engaged in data processing, have been
subject to, and are likely to continue to be the target of, cyber-attacks.
These cyber-attacks include computer viruses, malicious or destructive code,
phishing attacks, denial of service or information, ransomware, improper access
by employees or vendors, attacks on personal email of employees, ransom demands
to not expose security vulnerabilities in the Group&#8217;s systems or the systems of
third parties or other security breaches that could result in the unauthorized
release, gathering, monitoring, misuse, loss or destruction of confidential,
proprietary and other information of the Group, its employees, its customers or
of third parties, damage its systems or otherwise materially disrupt the
Group&#8217;s or its customers&#8217; or other third parties&#8217; network access or business
operations. As cyber threats continue to evolve, the Group may be required to
expend significant additional resources to continue to modify or enhance its
protective measures or to investigate and remediate any information security
vulnerabilities or incidents. Despite efforts to ensure the integrity of the
Group&#8217;s systems and implement controls, processes, policies and other
protective measures, the Group may not be able to anticipate all security
breaches, nor may it be able to implement guaranteed preventive measures against
such security breaches and the measures implemented by the Group may not be
sufficient. Cyber threats are rapidly evolving and the Group may not be able to
anticipate or prevent all such attacks and could be held liable for any
security breach or loss.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">Cybersecurity risks
for banking organizations have significantly increased in recent years in part
because of the proliferation of new technologies, and the use of the internet
and telecommunications technologies to conduct financial transactions. For example,
cybersecurity risks may increase in the future as the Group continues to
increase its mobile-payment and other internet-based product offerings and
expand its internal usage of web-based products and applications. In addition,
cybersecurity risks have significantly increased in recent years in part due to
the increased sophistication and activities of organized crime affiliates,
terrorist organizations, hostile foreign governments, disgruntled employees or
vendors, activists and other external parties, including those involved in
corporate espionage. Even the most advanced internal control environment may be
vulnerable to compromise. Targeted social engineering attacks and &#8220;spear
phishing&#8221; attacks are becoming more sophisticated and are extremely difficult
to prevent. In such an attack, an attacker will attempt to fraudulently induce
colleagues, customers or other users of the Group&#8217;s systems to disclose
sensitive information in order to gain access to its data or that of its
clients. Persistent attackers may succeed in penetrating the Group&#8217;s defenses
given enough resources, time, and motive. The techniques used by cyber
criminals change frequently, may not be recognized until launched and may not
be recognized until well after a breach has occurred. The risk of a security
breach caused by a cyber-attack at a vendor or by unauthorized vendor access
has also increased in recent years. Additionally, the existence of
cyber-attacks or security breaches at third-party vendors with access to the
Group&#8217;s data may not be disclosed to it in a timely manner.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">The Group also faces indirect
technology, cybersecurity and operational risks relating to the customers,
clients and other third parties with whom it does business or upon whom it
relies to facilitate or enable its business activities, including, for example,
financial counterparties, regulators and providers of critical infrastructure
such as internet access and electrical power. As a result of increasing
consolidation, interdependence and complexity of financial entities and
technology systems, a technology failure, cyber-attack or other information or
security breach that significantly degrades, deletes or compromises the systems
or data of one or more financial entities could have a material impact on
counterparties or other market participants, including the Group. This
consolidation, interconnectivity and complexity increase the risk of
operational failure, on both individual and industry-wide bases, as disparate
systems need to be integrated, often on an accelerated basis. Any third-party
technology failure, cyber-attack or other information or security breach,
termination or constraint could, among other things, adversely affect the
Group&#8217;s ability to effect transactions, service its clients, manage its exposure
to risk or expand its business.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">Cyber-attacks or
other information or security breaches, whether directed at the Group or third
parties, may result in a material loss or have material consequences.
Furthermore, the public perception that a cyber-attack on its systems has been
successful, whether or not this perception is correct, may damage the Group&#8217;s
reputation with customers and third parties with whom it does business. Hacking
of personal information and identity theft risks, in particular, could cause
serious reputational harm. A successful penetration or circumvention of system
security could cause the Group serious negative consequences, including loss of
customers and business opportunities, significant business disruption to its
operations and business, misappropriation or destruction of its confidential
information and/or that of its customers, or damage to the Group&#8217;s or its
customers&#8217; and/or third parties&#8217; computers or systems, and could result in a
violation of applicable privacy laws and other laws, litigation exposure,
regulatory fines, penalties or intervention, loss of confidence in the Group&#8217;s
security measures, reputational damage, reimbursement or other compensatory
costs, additional compliance costs, and could adversely impact its results of
operations, liquidity and financial condition.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">The Group could be the subject of misinformation</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">The Group may be
the subject of intentional misinformation and misrepresentations deliberately
propagated to harm the Group&#8217;s reputation or for other deceitful purposes. Such
misinformation could also be propagated by profiteering short sellers seeking
to gain an illegal market advantage by spreading false information concerning
the Group. The Group cannot assure that it will effectively neutralize and contain
any false information that may be propagated regarding the Group, which could
have an adverse effect on the Group&#8217;s business, financial condition and results
of operations.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">BBVA&#8217;s financial statements and periodic
disclosure under securities laws may not give you the same </font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">information</font></i></b></font><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" style="font-size:10.0pt;"> as
financial statements prepared under U.S. accounting rules and periodic
disclosures provided by domestic U.S. issuers</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">Publicly available information about public
companies in Spain is generally less detailed and not as frequently updated as
the information that is regularly published by or about listed companies in the
United States. In addition, although BBVA is subject to the periodic reporting
requirements of the Exchange Act, the periodic disclosure required of foreign
private issuers such as BBVA under the Exchange Act is more limited than the
periodic disclosure required of U.S. issuers. Finally, BBVA maintains its
financial accounts and records and prepares its financial statements in
compliance with IFRS-IASB and in accordance with EU-IFRS required to be applied
under the Bank of Spain&#8217;s Circular 4/2017, which replaced the Bank of Spain&#8217;s
Circular 4/2004 for financial statements relating to periods ended January 1,
2018 and thereafter, which differs in certain respects from U.S. GAAP, the
financial reporting standard to which many investors in the United States may
be more accustomed.</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;">&nbsp;</h5>
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">BBVA&#8217;s financial
statements are based in part on assumptions and estimates which, if inaccurate,
could cause material </font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">misstatement</font></i></b></font><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" style="font-size:10.0pt;"> of the results of its operations and financial
position</font></i></b></font></h5>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The preparation of
financial statements in compliance with IFRS-IASB requires the use of
estimates. It also requires management to exercise judgment in applying
relevant accounting policies. The key areas involving a higher degree of
judgment or complexity, or areas where assumptions are significant to the
consolidated and individual financial statements, include the classification,
measurement and impairment of financial assets, the assumptions used to quantify
certain provisions and for the actuarial calculation of post-employment benefit
liabilities and commitments, the useful life and impairment losses of tangible
and intangible assets, the valuation of goodwill and purchase price allocation
of business combinations, the fair value of certain unlisted financial assets
and liabilities, the recoverability of deferred tax assets and the exchange and
inflation rates of Venezuela. There is a risk that if the judgment exercised or
the estimates or assumptions used subsequently turn out to be incorrect then
this could result in significant loss to the Group beyond that anticipated or
provided for, which could have an adverse effect on the Group&#8217;s business,
financial condition and results of operations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Observable market prices are not
available for many of the financial assets and liabilities that the Group holds
at fair value and a variety of techniques to estimate the fair value are used.
Should the valuation of such financial assets or liabilities become observable,
for example as a result of sales or trading in comparable assets or liabilities
by third parties, this could result in a materially different valuation to the
current carrying value in the Group&#8217;s financial statements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The further development of standards and
interpretations under IFRS</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-IASB</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> could also significantly affect the results of
operations, financial condition and prospects of the Group. See &#8220;&#8212;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our
financial results, regulatory capital and ratios may be negatively affected by
changes to accounting standards</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<h5 style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" style="font-size:10.0pt;">Our financial results, regulatory capital and ratios may be
negatively affected by changes to accounting standards</font></i></b></font></h5>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">We report our results and
financial position in compliance with IFRS-IASB and in accordance with EU-IFRS
required to be applied under the Bank of Spain&#8217;s Circular 4/2017, which
replaced the Bank of Spain&#8217;s Circular 4/2004 for financial statements relating
to periods ended January 1, 2018 and thereafter. Changes to IFRS or
interpretations thereof may cause our future reported results and financial
position to differ from current expectations, or historical results to differ
from those previously reported due to the adoption of accounting standards on a
retrospective basis. Such changes may also affect our regulatory capital and ratios.
We monitor potential accounting changes and, when possible, we determine their
potential impact and disclose significant future changes in our financial
statements that we expect as a result of those changes. Currently, there are a
number of issued but not yet effective IFRS changes, as well as potential IFRS
changes, some of which could be expected to impact our reported results,
financial position and regulatory capital in the future. For further
information about developments in financial accounting and reporting standards,
see Note 2.3 to our Consolidated Financial Statements (&#8220;Recent IFRS
pronouncements&#8221;).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<h1 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 4.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">INFORMATION
ON THE COMPANY</font></b></font></h1>

<h2 style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">A.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">History
and Development of the Company</font></b></font></h2>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA&#8217;s predecessor bank, BBV (Banco
Bilbao Vizcaya), was incorporated as a public limited company (a &#8220;sociedad
an&#243;nima&#8221; or S.A.) under the Spanish Corporations Law on October 1, 1988. BBVA
was formed following the merger of Argentaria into BBV (Banco Bilbao Vizcaya),
which was approved by the shareholders of each entity on December 18, 1999 and
registered on January 28, 2000. It conducts its business under the commercial
name &#8220;BBVA&#8221;. BBVA is registered with the Commercial Registry of Vizcaya
(Spain). It has its registered office at Plaza de San Nicol&#225;s 4, Bilbao, Spain,
48005, and operates out of Calle Azul, 4, 28050, Madrid, Spain (Telephone:
+34-91-374-6201). BBVA&#8217;s agent in the U.S. for U.S. federal securities law
purposes is Banco Bilbao Vizcaya Argentaria, S.A. New York Branch (1345 Avenue
of the Americas, 44th Floor, New York, New York 10105 (Telephone:
+1-212-728-1660)). BBVA is incorporated for an unlimited term.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Capital
Expenditures</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our principal investments are financial investments in our
subsidiaries and affiliates. The main capital expenditures from 2016 to the
date of this Annual Report were the following:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2018</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In 2018 there were no significant capital expenditures.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2017</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font color=windowtext face="Times New Roman,serif" style="border:none;"><b><i><font color=windowtext face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Acquisition
of an additional 9.95% of Garanti</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On March 22, 2017, we acquired 41,790,000,000 shares (in
the aggregate) of Garanti (amounting to 9.95% of the total issued share capital
of Garanti) from Do&#287;u&#351; Holding A.&#350;. and </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Do&#287;u&#351; Ara&#351;t&#305;rma
Geli&#351;tirme ve M&#252;&#351;avirlik Hizmetleri A.&#350;.</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, under certain agreements entered into on
February&nbsp;21, 2017, at a purchase price of 7.95 Turkish liras per share&nbsp;(approximately
3,322 million Turkish liras or &#8364;859 million in the aggregate). </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2016</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In 2016 there were no significant capital expenditures.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Capital Divestitures</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our principal divestitures are financial divestitures in
our subsidiaries and affiliates. The main capital divestitures from 2016 to the
date of this Annual Report were the following:</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2018 </font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font color=windowtext face="Times New Roman,serif" style="border:none;"><b><i><font color=windowtext face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Sale
of BBVA&#8217;s stake in BBVA Chile</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On November 28, 2017, BBVA received a binding offer (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Offer</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
from The Bank of Nova Scotia (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Scotiaban</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">k&#8221;) for the acquisition of
BBVA&#8217;s stake in Banco Bilbao Vizcaya Argentaria Chile, S.A. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Chile</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
as well as in other companies of the Group in Chile with operations that are
complementary to the banking business (among them, BBVA Seguros de Vida, S.A.).
BBVA owned, directly and indirectly, 68.19% of BBVA Chile&#8217;s share capital. On
December 5, 2017, BBVA accepted the Offer and entered into a sale and purchase
agreement and the sale was completed on July 6, 2018. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The consideration received in cash by BBVA in the referred
sale amounted to approximately $2,200 million. The transaction resulted in a
capital gain, net of taxes, of &#8364;633 million, which was recognized in 2018.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font color=windowtext face="Times New Roman,serif" style="border:none;"><b><i><font color=windowtext face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Agreement
for the creation of a joint venture and transfer of the real estate business in
Spain</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On November 28, 2017, BBVA reached an agreement with
Promontoria Marina, S.L.U. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Promontoria</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), a company managed by
Cerberus Capital Management, L.P. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Cerberus</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), for the creation of a
joint venture to which an important part of the real estate business of BBVA in
Spain (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Business</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) was transferred.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Business comprises: (i) foreclosed real estate assets
(the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">REOs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) held by BBVA as of June 26, 2017, with a gross book value
of approximately &#8364;13,000 million; and (ii) the necessary assets and employees
to manage the Business in an autonomous manner. For purposes of the transaction
with Cerberus, the Business was valued at approximately &#8364;5,000 million.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On October 10, 2018, after obtaining all the required
authorizations, BBVA completed the transfer of the Business (except for part of
the agreed REOs, as further explained below) to Divarian Propiedad, S.A. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Divarian</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
and the sale of an 80% stake in Divarian to Promontoria. Following the closing
of the transaction, BBVA retained 20% of the share capital of Divarian.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Although the BBVA Group has
agreed to contribute all of the Business to Divarian the effective transfer of
several REOs remains subject to the fulfilment of certain conditions precedent.
The final price payable by Promontoria will be adjusted depending on the volume
of REOs ultimately contributed to Divarian. For additional information see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item
10. Additional Information&#8212;Material Contracts&#8212;Joint Venture Agreement with
Cerberus&#8221;.</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018 and for the year then ended, the
transaction did not have a significant impact on the Group&#8217;s attributable
profit or Common Equity Tier 1 (fully loaded).</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&#160; &nbsp;</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The above transaction is referred to as the &#8220;Cerberus
Transaction&#8221; in this Annual Report.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font color=windowtext face="Times New Roman,serif" style="border:none;"><b><i><font color=windowtext face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Sale
of BBVA&#8217;s stake in Testa </font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On September 14, 2018, BBVA and other shareholders of Testa
Residencial SOCIMI, S.A. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Testa</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) entered into an agreement with Tropic
Real Estate Holding, S.L. (a company which is advised and managed by a private
equity investment group controlled by Blackstone Group International Partners
LLP) pursuant to which BBVA agreed to transfer its 25.24% interest in Testa to
Tropic Real Estate Holding, S.L. The sale was completed on December 21, 2018. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The consideration received in cash by BBVA in the referred
sale amounted to &#8364;478 million.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font color=windowtext face="Times New Roman,serif" style="border:none;"><b><i><font color=windowtext face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Sale
of non-performing and in default mortgage credits</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On December 21, 2018, BBVA reached an agreement with
Voyager Investing UK Limited Partnership, an entity managed by Canada Pension
Plan Investment Board, for the transfer of a portfolio of credit rights which
is mainly composed by non-performing and in default mortgage credits, with an
aggregate outstanding balance amounting to approximately &#8364;1,490 million. Completion
of the transaction is subject to fulfilment of certain conditions and is
expected to take place during the second quarter of 2019.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2017</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In 2017 there were no significant capital divestitures.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2016</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In 2016 there were no significant capital divestitures.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Public Information</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The SEC maintains an Internet site (www.sec.gov) that
contains reports and other information regarding issuers that file </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">electronically</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> with the
SEC, including BBVA. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 10. Additional Information&#8212;Documents on
Display&#8221;.</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> Additional information on the Group is also available on our
website at https://shareholdersandinvestors.bbva.com. The information contained
on such websites does not form part of this Annual Report on Form 20-F.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">42</font></font></p>


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<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<h2 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">B.&#160;&#160; Business
Overview</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA is a highly diversified international financial group, with
strengths in the traditional banking businesses of retail banking, asset
management, private banking and wholesale banking. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We also have investments in some of Spain&#8217;s
leading companies.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group is committed to offering a compelling digital
proposition and is focused on increasingly offering products online and through
mobile channels, improving the functionality of its digital offerings and
refining the customer experience. In 2018, the number of digital and mobile customers
and the volume of digital sales continued to increase.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating Segments</font></b></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">Set forth below are the Group&#8217;s current
seven operating segments:</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160; Banking Activity in Spain;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0cm;margin-top:6.0pt;text-indent:-21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160; Non-Core Real Estate;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160; The United States;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160; Mexico;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:35.4pt;margin-right:0cm;margin-top:6.0pt;text-indent:-21.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160; Turkey;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160; South America; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160; Rest of Eurasia.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition to the operating segments referred to above,
the Group has a Corporate Center which includes those items that have not been
allocated to an operating segment. It includes the Group&#8217;s general management
functions, including </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">costs</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> from central units that have a strictly corporate
function; management of structural exchange rate positions carried out by the
Financial Planning unit; specific issues of capital instruments to ensure adequate
management of the Group&#8217;s overall capital position; certain proprietary
portfolios; certain tax assets and liabilities; certain provisions related to
commitments with employees; and goodwill and other intangibles. As of December
31, 2018, BBVA&#8217;s 20% stake in Divarian was included in this unit.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">43</font></font></p>


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<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The breakdown of the Group&#8217;s
total assets by operating segments as of December 31, 2018, 2017 and 2016 is as
follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td nowrap valign=bottom width=39% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=61% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, </font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=39% style="border:none;border-right:solid white 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017<sup>(1)</sup></font></b></font></p>
  </td>
 <td width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016<sup>(2)</sup></font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=39% style="border:none;border-bottom:solid white 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=61% style="border:none;border-bottom:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=39% style="border:none;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Banking Activity in Spain</font></font></p>
  </td>
 <td width=21% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.6pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">335,294</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.6pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">319,417</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.6pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">335,847</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=39% style="border:none;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Non-Core Real Estate</font></font></p>
  </td>
 <td width=21% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:18.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,163</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:18.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,714</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:18.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,713</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="border:none;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">The United States</font></font></p>
  </td>
 <td width=21% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">82,057</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">75,775</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">88,902</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="border:none;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexico</font></font></p>
  </td>
 <td width=21% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">96,455</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">94,061</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">93,318</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="border:none;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey</font></font></p>
  </td>
 <td width=21% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">66,250</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">78,694</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">84,866</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:none;border-top:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">South America</font></font></p>
  </td>
 <td width=21% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">52,385</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">74,636</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">77,918</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="border:none;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Rest of Eurasia</font></font></p>
  </td>
 <td width=21% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,000</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,265</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19,106</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="border:none;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Subtotal Assets by Operating Segment</font></b></font></p>
  </td>
 <td width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">654,605</font></b></font></p>
  </td>
 <td width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">669,562</font></b></font></p>
  </td>
 <td width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">713,670</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=39% style="border:none;border-bottom:solid white 1.0pt;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Corporate Center and other adjustments </font></font></p>
  </td>
 <td width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22,084</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20,497</font></font></p>
  </td>
 <td width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,186</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=39% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Assets BBVA Group</font></b></font></p>
  </td>
 <td width=21% style="border-bottom:double black 2.25pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">676,689</font></b></font></p>
  </td>
 <td width=20% style="border-bottom:double black 2.25pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">690,059</font></b></font></p>
  </td>
 <td width=20% style="border-bottom:double black 2.25pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">731,856</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; Revised. See </font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8220;Presentation of Financial
Information&#8212;Changes in Operating Segments&#8221;.</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> &nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:0cm;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160; Financial information for 2016 has not been revised to
reflect changes in our operating segments in 2018, including the inclusion of
BBVA Bancomer&#8217;s branch in Houston (which was previously part of our United
States operating segment) in our Mexico operating segment since 2018. If BBVA
Bancomer&#8217;s branch in Houston had been part of our Mexico operating segment in
2016 (rather than of our United States operating segment), total assets of the
United States and the Mexico operating segments would have been &#8364;84,726 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">million and &#8364;97,492 million, respectively,
as of December 31, 2016.</font></font><font style="border:none;">
&nbsp;</font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">44</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_50"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table sets forth
information relating to the profit (loss) attributable to parent company by
each of BBVA&#8217;s operating segments and Corporate Center for the years ended
December 31, 2018, 2017 and 2016:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:36.0pt;">
  <td nowrap valign=bottom width=31% style="height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=33% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Profit/(Loss) Attributable to
  Parent Company</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=36% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">% of Profit/(Loss)
  Attributable to Parent Company</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=31% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=6 nowrap valign=bottom width=69% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31, </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=31% style="border:none;border-right:solid white 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017<sup>(1)</sup></font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016<sup>(2)</sup></font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017<sup>(1)</sup></font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016<sup>(2)</sup></font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=31% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=33% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=36% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Percentage)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Banking Activity in Spain</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,522</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,374</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">905</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">21</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Non-Core Real Estate</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(78)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(490)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(595)</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(9)</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(14)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">The United States</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">735</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">486</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">459</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,384</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,187</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,980</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">41</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">41</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">46</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=31% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey </font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">569</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">826</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">599</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">South America</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">591</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">861</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">771</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Rest of Eurasia</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">93</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">125</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">151</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Subtotal operating segments</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,818</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,368</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,269</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">100</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">100</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">100</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Corporate Center</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(494)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,848)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(794)</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,324</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,519</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,475</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:5.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:17.85pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; Revised. See </font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8220;Presentation of Financial
Information&#8212;Changes in Operating Segments&#8221;</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:0cm;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160; Financial information for 2016 has not been revised to
reflect changes in our operating segments in 2018, including the inclusion of
BBVA Bancomer&#8217;s branch in Houston (which was previously part of our United
States operating segment) in our Mexico operating segment since 2018. If BBVA
Bancomer&#8217;s branch in Houston had been part of our Mexico operating segment in
2016 (rather than of our United States operating segment), profit attributable
to parent company for the United States and the Mexico operating segments would
have been &#8364;442 million and &#8364;1,997 million, respectively, for the year ended
December 31, 2016.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">45</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_51"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table sets forth information relating to the
income of each operating segment and the Corporate Center for the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">years ended December 31, 2018, 2017 and 2016</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=8 nowrap width=72% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Operating Segments</font></b></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td nowrap valign=bottom width=19% style="height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">Banking Activity in Spain</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">Non-Core Real Estate</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">The United States</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">South America</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">Rest of Eurasia</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">Corporate Center</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">BBVA Group</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=8 nowrap valign=bottom width=72% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">3,672</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">32</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,276</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">5,568</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">3,135</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">3,009</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">175</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(276)</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">17,591</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">5,943</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">38</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,989</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">7,193</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">3,901</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">3,701</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">415</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(432)</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">23,747</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=19% style="height:25.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions<sup>(1)</sup></font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,680</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(28)</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1,127</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">4,825</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,658</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,011</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">124</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(1,352)</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">12,045</font></font></p>
  </td>
 </tr>
<tr style="height:29.45pt;">
  <td valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:29.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax<sup>(2)</sup></font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,017</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(129)</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">919</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">3,294</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1,448</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1,307</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">144</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(1,420)</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">7,580</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1,522</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(78)</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">735</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,384</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">569</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">591</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">93</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(494)</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">5,324</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=19% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017<sup>(3)</sup></font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">3,738</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">71</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,119</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">5,476</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">3,331</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">3,200</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">180</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(357)</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">17,758</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,180</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(17)</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,876</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">7,122</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">4,115</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">4,451</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">468</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">73</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">25,270</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=19% style="height:25.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions<sup>(1)</sup></font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,790</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(116)</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1,025</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">4,671</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,612</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,444</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">160</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(815)</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">12,770</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1,854</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(656)</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">748</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,984</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,147</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1,691</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">177</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(2,013)</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,931</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1,374</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(490)</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">486</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,187</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">826</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">861</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">125</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(1,848)</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">3,519</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=19% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">3,877</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">60</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1,953</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">5,126</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">3,404</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,930</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">166</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(455)</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">17,059</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,416</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(6)</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,706</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,766</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">4,257</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">4,054</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">491</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(31)</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">24,653</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=19% style="height:26.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions<sup>(1)</sup></font></font></p>
  </td>
 <td valign=bottom width=9% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,837</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(130)</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">863</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">4,371</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,519</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,160</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">149</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(907)</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">11,862</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1,268</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(743)</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">612</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2,678</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1,906</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1,552</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">203</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(1,084)</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,392</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">905</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(595)</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">459</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1,980</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">599</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">771</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">151</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(794)</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">3,475</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=19% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td colspan=10 valign=bottom width=100% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)&#160; &#8220;Net margin before
  provisions&#8221; is calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and
  &#8220;Depreciation and amortization&#8221;.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2) The information relating
  to our Corporate Center segment has been presented under management criteria
  pursuant to which &#8220;Operating profit/(loss) before tax&#8221; excludes the capital
  gain from the sale of our stake in BBVA Chile. For additional information on
  this adjustment, see</font><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;"> &#8220;Item 5. Operating and Financial Review and
  Prospects&#8212;Operating Results&#8212;Results of Operations by Operating Segment&#8221;.</font></i></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3)&#160; Revised. See
  &#8220;Presentation of Financial Information&#8212;Changes in Operating Segments&#8221;.</font></font></p>
  </td>
 </tr>
</table></div>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:2.5pt;margin-left:0cm;margin-right:304.95pt;margin-top:0cm;padding:0cm;page-break-after:auto;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">46</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_52"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following
tables set forth information relating to the balance sheet of the main
operating segments as of December 31, 2018, 2017 and 2016:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy style="border:none;"><font color=navy face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy style="border:none;"><font color=navy face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=34% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy style="border:none;"><font color=navy face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=6 valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:32.25pt;">
  <td valign=bottom width=34% style="height:32.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Banking Activity in Spain</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">The United States</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Turkey </font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">South America</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Rest of Eurasia</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-right:solid white 1.5pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=6 nowrap width=66% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:19.35pt;">
  <td nowrap valign=bottom width=34% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Assets</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">335,294</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">82,057</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">96,455</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">66,250</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">52,385</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,000</font></b></font></p>
  </td>
 </tr>
<tr style="height:26.45pt;">
  <td valign=bottom width=34% style="height:26.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Cash, cash balances at central banks and other
  demand deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27,841</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,835</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,274</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,853</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,987</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">273</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=34% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial assets designated at fair value (1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">100,094</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,481</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26,022</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,506</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,634</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">504</font></font></p>
  </td>
 </tr>
<tr style="height:17.45pt;">
  <td nowrap valign=bottom width=34% style="height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial assets at amortized cost</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">193,936</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">63,539</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">57,709</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">50,315</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">36,649</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,930</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=34% style="height:18.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and advances to customers</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">169,856</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">60,808</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51,101</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">41,478</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,469</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,731</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td valign=bottom width=34% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.1pt;">
  <td valign=bottom width=34% style="height:20.1pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Residential mortgages</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">74,639</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,990</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,197</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,530</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,629</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:20.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,821</font></font></p>
  </td>
 </tr>
<tr style="height:16.35pt;">
  <td valign=bottom width=34% style="height:16.35pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Consumer finance</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,748</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,187</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,145</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,145</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,431</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">420</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,665</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,467</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,347</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,265</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,374</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">410</font></i></font></p>
  </td>
 </tr>
<tr style="height:16.35pt;">
  <td valign=bottom width=34% style="height:16.35pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Credit cards</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,083</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">720</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,798</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,880</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,058</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10</font></i></font></p>
  </td>
 </tr>
<tr style="height:17.45pt;">
  <td valign=bottom width=34% style="height:17.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans to enterprises</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">45,367</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">32,862</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20,493</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27,657</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,975</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,818</font></font></p>
  </td>
 </tr>
<tr style="height:19.35pt;">
  <td valign=bottom width=34% style="height:19.35pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans to public sector</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,327</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,400</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,726</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">95</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,078</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">414</font></font></p>
  </td>
 </tr>
<tr style="height:18.6pt;">
  <td nowrap valign=bottom width=34% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">332,656</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">78,812</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">92,998</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">57,966</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">45,933</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,696</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td valign=bottom width=34% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial liabilities held for trading and
  designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">66,255</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">234</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,028</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,852</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,357</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">42</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td valign=bottom width=34% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial liabilities at amortized cost - Customer
  deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">180,891</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">63,891</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">50,530</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">39,905</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">35,842</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,876</font></font></p>
  </td>
 </tr>
<tr style="height:19.35pt;">
  <td valign=bottom width=34% style="height:19.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.6pt;">
  <td valign=bottom width=34% style="height:18.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Current and savings accounts</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">142,199</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">41,206</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38,147</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,530</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,025</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,544</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=34% style="height:18.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Time deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38,263</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,857</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,593</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27,367</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,817</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,333</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Equity</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,638</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,245</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,457</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,284</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,452</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">304</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td nowrap valign=bottom width=34% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Assets Under Management</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">62,557</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20,647</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,894</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,662</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">388</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mutual funds</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">39,249</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,733</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">669</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,741</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Pension funds</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,274</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,225</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,921</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">388</font></font></p>
  </td>
 </tr>
<tr style="height:16.35pt;">
  <td valign=bottom width=34% style="height:16.35pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other placements</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">35</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,914</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=7 valign=bottom width=100% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)&#160;&#160; Financial assets
  designated at fair value includes: &#8220;Financial assets held for trading&#8221;,
  &#8220;Non-trading financial assets mandatorily at fair value through profit or
  loss&#8221;, &#8220;Financial assets designated at fair value through profit or loss&#8221; and
  &#8220;Financial assets at fair value through other comprehensive income&#8221;.</font></font></p>
  </td>
 </tr>
</table></div>



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<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=6 valign=bottom width=72% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2017(1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td valign=bottom width=28% style="height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Banking Activity in Spain</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">The United States</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Turkey </font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">South America</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Rest of Eurasia</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=28% style="border:none;border-right:solid white 1.5pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=6 nowrap width=72% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap valign=bottom width=28% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Assets</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">319,417</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">75,775</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">94,061</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">78,694</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">74,636</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,265</font></b></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=28% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Cash, cash balances at central banks and other
  demand deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:26.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,463</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:26.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,138</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:26.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,833</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:26.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,036</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:26.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,039</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:26.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">877</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial assets designated at fair value (2)</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">79,501</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,068</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">28,627</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,419</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,627</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">991</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial assets at amortized cost</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">221,391</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">54,705</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47,691</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">65,083</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51,207</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,009</font></font></p>
  </td>
 </tr>
<tr style="height:16.35pt;">
  <td valign=bottom width=28% style="height:16.35pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and advances to customers</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:16.35pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">183,172</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:16.35pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">53,718</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:16.35pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">45,768</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:16.35pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51,378</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:16.35pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">48,272</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:16.35pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,864</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td valign=bottom width=28% style="height:14.1pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Residential mortgages</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">77,419</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,048</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,081</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,147</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,681</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,118</font></font></p>
  </td>
 </tr>
<tr style="height:17.1pt;">
  <td valign=bottom width=28% style="height:17.1pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Consumer finance</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,804</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,841</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,820</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,185</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,883</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">305</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td valign=bottom width=28% style="height:21.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,845</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,312</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,422</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,760</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,168</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">282</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Credit cards</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,959</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">529</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,397</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,425</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,715</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23</font></i></font></p>
  </td>
 </tr>
<tr style="height:17.1pt;">
  <td valign=bottom width=28% style="height:17.1pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans to enterprises</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">46,561</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">28,841</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,838</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,371</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,567</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,599</font></font></p>
  </td>
 </tr>
<tr style="height:15.6pt;">
  <td valign=bottom width=28% style="height:15.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans to public sector</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,131</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,133</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,262</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">148</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,114</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">514</font></font></p>
  </td>
 </tr>
<tr style="height:21.6pt;">
  <td nowrap valign=bottom width=28% style="height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">309,731</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">72,532</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">90,667</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">70,253</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">69,885</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:21.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,330</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td valign=bottom width=28% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial liabilities held for trading and
  designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:27.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">36,817</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:27.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">139</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:27.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,405</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:27.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">648</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:27.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,823</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:27.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">45</font></font></p>
  </td>
 </tr>
<tr style="height:28.9pt;">
  <td valign=bottom width=28% style="height:28.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial liabilities at amortized cost - Customer
  deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:28.9pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">177,763</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:28.9pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">60,806</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:28.9pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">49,964</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:28.9pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">44,691</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:28.9pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">45,666</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:28.9pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,700</font></font></p>
  </td>
 </tr>
<tr style="height:17.1pt;">
  <td valign=bottom width=28% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.1pt;">
  <td valign=bottom width=28% style="height:17.1pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Current and savings accounts</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">126,737</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38,486</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,855</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,240</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26,200</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,278</font></font></p>
  </td>
 </tr>
<tr style="height:17.1pt;">
  <td valign=bottom width=28% style="height:17.1pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Time deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">48,085</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,767</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,237</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">30,300</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20,099</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:17.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,422</font></font></p>
  </td>
 </tr>
<tr style="height:23.1pt;">
  <td nowrap valign=bottom width=28% style="height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Equity</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:23.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,686</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:23.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,243</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:23.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,394</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:23.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,441</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:23.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,751</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:23.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">935</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.6pt;">
  <td nowrap valign=bottom width=28% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Assets Under Management</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:18.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">62,054</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:18.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:18.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19,472</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:18.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,902</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:18.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,197</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:18.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">376</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.6pt;">
  <td valign=bottom width=28% style="height:15.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mutual funds</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">37,992</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,430</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,265</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,248</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.6pt;">
  <td valign=bottom width=28% style="height:15.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Pension funds</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24,022</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,637</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,949</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.6pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">376</font></font></p>
  </td>
 </tr>
<tr style="height:14.45pt;">
  <td valign=bottom width=28% style="height:14.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other placements</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.45pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.45pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.45pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,041</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.45pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.45pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.45pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:14.45pt;">
  <td valign=bottom width=28% style="height:14.45pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.45pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.45pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.45pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.45pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.45pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:14.45pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=7 valign=bottom width=100% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)&#160;&#160; Revised. See &#8220;Presentation
  of Financial Information&#8212;Changes in Operating Segments&#8221;.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2)&#160;&#160; Financial assets
  designated at fair value includes: &#8220;Financial assets held for trading&#8221;,
  &#8220;Non-trading financial assets mandatorily at fair value through profit or
  loss&#8221;, &#8220;Financial assets designated at fair value through profit or loss&#8221; and
  &#8220;Financial assets at fair value through other comprehensive income&#8221;.</font></font></p>
  </td>
 </tr>
</table></div>



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<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td valign=bottom width=28% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=6 valign=bottom width=72% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td valign=bottom width=28% style="height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Banking Activity in Spain</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">The United States</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Turkey </font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">South America</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Rest of Eurasia</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=28% style="border:none;border-right:solid white 1.5pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=6 nowrap width=72% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Assets</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">335,847</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">88,902</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">93,318</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">84,866</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">77,918</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19,106</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and advances to customers</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">187,201</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">62,000</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47,938</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">57,941</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">50,333</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,835</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Residential mortgages</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">81,659</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,893</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,410</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,801</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,441</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,432</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Consumer finance</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,141</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,413</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,286</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,819</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,527</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">231</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,374</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,838</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,630</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,734</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,781</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">217</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Credit cards</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,767</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">575</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,656</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,085</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,745</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans to enterprises</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">43,472</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33,084</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,684</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33,836</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">21,495</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,340</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans to public sector</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,268</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,594</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,862</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">685</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">57</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">325,230</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">84,719</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">89,244</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">75,798</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">73,425</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,705</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=28% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial liabilities at amortized cost - Customer
  deposits</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:24.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">180,544</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:24.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">65,760</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:24.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">50,571</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:24.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47,244</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:24.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47,684</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:24.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,396</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Current and savings accounts</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">98,989</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">49,430</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">31,112</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,237</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,369</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,442</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Time deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">70,696</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,765</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,048</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">35,231</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20,509</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,773</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other customer funds</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,124</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,324</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">21</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,456</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">107</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Equity</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,617</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,183</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,074</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,068</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,493</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,401</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td nowrap valign=bottom width=28% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Assets Under Management</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:20.45pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">56,147</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:20.45pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:20.45pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19,111</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:20.45pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,753</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:20.45pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,902</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:20.45pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">366</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mutual funds</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">32,648</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,331</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,192</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,859</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Pension funds</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,448</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,561</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,043</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">366</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other placements</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,780</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:0cm;margin-top:18.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Banking Activity in Spain</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Banking Activity in Spain operating
segment includes all of BBVA&#8217;s banking and non-banking businesses in Spain,
other than those included in the Corporate Center and Non-Core Real Estate. The
main business units included in this operating segment are:</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">Spanish Retail Network</font></i></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">: including individual customers, private banking, small
companies and businesses in the domestic market;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">Corporate and Business Banking
(CBB)</font></i></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">: which manages small and medium
sized enterprises (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">SMEs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#8221;), companies and corporations, public
institutions and developer segments;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">Corporate and Investment Banking
(C&amp;IB)</font></i></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">: responsible for business
with large corporations and multinational groups and the trading floor and distribution
business in Spain; and</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">Other units</font></i></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">: which includes the insurance business unit in Spain (BBVA
Seguros) and the Asset Management unit, which manages Spanish mutual funds and
pension funds, and includes new loan production to real estate developers or
loans to real estate developers that are no longer in difficulties, as well as certain
proprietary portfolios and certain funding and structural interest-rate
positions of the euro balance sheet which are not included in the Corporate
Center.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets designated at
fair value of this operating segment (which includes the following portfolios:
&#8220;Financial assets held for trading&#8221;, &#8220;Non-trading financial assets mandatorily
at fair value through profit or loss&#8221;, &#8220;Financial assets designated at fair
value through profit or loss&#8221; and &#8220;Financial assets at fair value through other
comprehensive income&#8221;) as of December 31, 2018 amounted to &#8364;100,094 million, a
25.9% increase from the &#8364;79,501 million recorded as of December 31, 2017,
mainly as a result of the initial implementation of IFRS 9 as of January 1,
2018, which resulted in the reclassification of certain financial assets
previously accounted for as &#8220;Loans and receivables&#8221; (and shown as &#8220;Financial
assets at amortized cost&#8221; as of December 31, 2017 in this Annual Report (see </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation of Financial Information&#8212;Application of
IFRS 9</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;))&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> to &#8220;Financial assets held for
trading&#8221;. See Note 2.4 to our Consolidated Financial Statements for further
information regarding the classification and measurement of financial
instruments.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets at amortized cost of this operating
segment as of December 31, 2018 amounted to &#8364;193,936 million, a 12.4% decrease
compared with the &#8364;221,391 million recorded as of December 31, 2017. Within
this heading, loans and advances to customers amounted to &#8364;169,856 million as
of December 31, 2018, a 7.3% decrease from the &#8364;183,172 million recorded as of
December 31, 2017, mainly as a result of the decrease in the mortgage
portfolio, and to a lesser extent, the decrease in other commercial and public
sector portfolios. These decreases were partially offset by the increase in
consumer loans, credit card balances and loans to small enterprises and
self-employed individuals, as well as by the transfer, in 2018, of outstanding
performing loans to developers in an aggregate amount of &#8364;260 million from the
Non-Core Real Estate segment to the Banking Activity in Spain segment. As of
December 31, 2018, the proportion of loans to individuals over total loans in
this operating segment was significantly higher than in other operating
segments.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial liabilities held for trading and designated at
fair value through profit or loss of this operating segment as of December 31,
2018 amounted to &#8364;66,255 million, an 80.0% increase compared with the &#8364;36,817
million recorded as of December 31, 2017, mainly as a result of the initial
implementation of IFRS 9 as of January 1, 2018, which resulted in the
reclassification of certain deposits previously accounted at amortized cost to
the held for trading portfolio (see Note 2.4 to our Consolidated Financial
Statements for further information regarding the classification and measurement
of financial instruments).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Customer deposits at amortized cost of this operating
segment as of December 31, 2018 amounted to &#8364;180,891 million, a 1.8% increase
compared with the &#8364;177,763 million recorded as of December 31, 2017, mainly a
result of the 12.2% increase in demand deposits, partially offset by the
initial implementation of IFRS 9 as of January 1, 2018, which resulted in the
reclassification of certain deposits previously accounted at amortized cost to
the held for trading portfolio (see Note 2.4 to our Consolidated Financial
Statements for further information regarding the classification and measurement
of financial instruments) and the decrease in time deposits.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Mutual funds of this operating segment as of December 31,
2018 amounted to &#8364;39,249 million, a 3.3% increase from the &#8364;37,992</font><font color=red face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">million recorded as of December 31, 2017, mainly due
to new net contributions.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pension funds of this operating segment as of December 31,
2018 amounted to &#8364;23,274 million, a 3.1% decrease compared with the &#8364;24,022
million recorded as of December 31, 2017, mainly due to the unfavorable
evolution of the markets.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This operating segment&#8217;s non-performing
loan ratio decreased to 4.6% as of December 31, 2018, from 5.5% as of
December&nbsp;31, 2017, mainly due to a 16.0% decrease in the balance of
non-performing loans in the period (&#8364;9,101 million as of December 2018 and
&#8364;10,833 million as of December 31, 2017). This operating segment&#8217;s non-performing
loan coverage ratio increased to 57% as of December 31, 2018, from 50% as of
December&nbsp;31, 2017.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Non-Core Real Estate</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This operating segment was set up with the aim of providing
specialized and structured management of the real estate assets accumulated by
the Group as a result of the economic crisis in Spain. It primarily includes
lending to real estate developers (except for those new loans to developers
that are included in the Banking Activity in Spain segment) and foreclosed real
estate assets originated from both residential mortgages and loans to
developers.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In recent years BBVA has taken
several steps to reduce its exposure to real estate assets in Spain. As part of
such efforts, BBVA entered into the Cerberus Transaction. As of December 31,
2018, BBVA maintained a 20% stake in Divarian, which was recorded in the
Corporate Center. Additionally, on December 21, 2018, the Group sold its 25.24%
stake in Testa for &#8364;478 million. Moreover, on December 21, 2018, BBVA reached
an agreement with Voyager Investing UK Limited Partnership, an entity managed
by Canada Pension Plan Investment Board, for the transfer of a portfolio of
credit rights which is mainly composed by non-performing and in default
mortgage credits, with an aggregate outstanding balance amounting to
approximately &#8364;1,490 million. Completion of the transaction is subject to
fulfilment of certain conditions and is expected to take place during the
second quarter of 2019. For additional information on these sales, see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;History
and Development of the Company&#8212;Capital Divestitures&#8212;2018&#8221;.</font></i></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, outstanding performing loans to developers in
an aggregate amount of &#8364;260 million were transferred from the Non-Core Real
Estate segment to the Banking Activity in Spain segment in 2018.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the above, loans and advances to customers
of this operating segment have significantly declined over recent years. As of
December 31, 2018, loans and advances to customers amounted to &#8364;582 million, an
83.5% decrease compared with the &#8364;3,521 million recorded as of December 31,
2017, principally due to portfolio sales.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The non-performing loan ratio of this segment was 71.1% as
of December 31, 2018. The coverage ratio of non-performing loan of this segment
was 58% of the total amount of real estate assets in this operating segment as
of December 31, 2018.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The number of real estate assets sold amounted to 18,808
units in 2018, 47.8% lower than in 2017. Additionally, during 2018, 43,900 units
were transferred to Divarian.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The United States</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This operating segment encompasses the Group&#8217;s business in
the United States. BBVA Compass accounted for 91.9% of this operating segment&#8217;s
balance sheet as of December 31, 2018. Given the importance of BBVA Compass in
this segment, most of the comments below refer to BBVA Compass. This operating
segment also includes the assets and liabilities of the BBVA branch in New
York, which specializes in transactions with large corporations.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The U.S. dollar appreciated 4.7% against the euro as of
December 31, 2018 compared with December 31, 2017, positively affecting the
business activity of the United States operating segment as of December 31,
2018 expressed in euros.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets designated at fair value of this operating
segment as of December 31, 2018 amounted to &#8364;10,481 million, a 5.3% decrease
from the &#8364;11,068 million recorded as of December 31, 2017, mainly as a result
of the initial implementation of IFRS 9 as of January 1, 2018, which resulted
in the reclassification of certain financial assets previously accounted for as
&#8220;Available for sale financial assets&#8221; (and shown as &#8220;Financial assets at fair
value through other comprehensive income&#8221; as of December 31, 2017 in this
Annual Report (see </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation of
Financial Information&#8212;Application of IFRS 9</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)) &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">to &#8220;Financial assets at amortized cost&#8221; as of December 31,
2018. See Note 2.4 to our Consolidated Financial Statements for further
information regarding the classification and measurement of financial
instruments.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets at amortized cost of this operating
segment as of December 31, 2018 amounted to &#8364;63,539 million, a 16.1% increase
compared with the &#8364;54,705 million recorded as of December 31, 2017. Within this
heading, loans and advances to customers of this operating segment as of
December 31, 2018 amounted to &#8364;60,808 million, a 13.2% increase compared with
the &#8364;53,718 million recorded as of December 31, 2017, mainly due to the
appreciation of the U.S. dollar against the euro and to the increase in the
other commercial portfolio (which was the most significant part of the total
portfolio in 2018), and to a lesser extent, to increases in the consumer and
corporate portfolios, partially offset by the weaker performance of mortgage
loans and loans to real estate developers (which were adversely affected by the
increase in interest rates).</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Customer deposits of this
operating segment as of December 31, 2018 amounted to &#8364;63,891 million, a 5.1%
increase compared with the &#8364;60,806 million recorded as of December 31, 2017,
mainly due to the appreciation of the U.S. dollar against the euro and the increase
in demand deposits, in a context of increased competition for deposits during
the year.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The non-performing loan ratio of this operating segment as
of December 31, 2018 was 1.3%</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, compared with
1.2% as of December 31, 2017</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. This operating
segment&#8217;s non-performing loan coverage ratio decreased to 85% as of December
31, 2018, from 104% as of December 31, 2017, mainly due to the increase in
non-performing loans and the release in 2018 of provisions associated with
retail portfolios affected by hurricanes in 2017.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Mexico</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Mexico operating segment comprises the banking and
insurance businesses conducted in Mexico by BBVA Bancomer. Since 2018, it also
includes BBVA Bancomer&#8217;s branch in Houston (which was part of our United States
segment in previous years).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Mexican peso appreciated 5.2% against the euro as of
December 31, 2018 compared with December 31, 2017, positively affecting the
business activity of the Mexico operating segment as of December 31, 2018
expressed in euros.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets designated at fair value of this operating
segment as of December 31, 2018 amounted to &#8364;26,022 million, a 9.1% decrease
from the &#8364;28,627 million recorded as of December 31, 2017, attributable in part
to the initial implementation of IFRS 9 as of January 1, 2018, which resulted
in the reclassification of certain financial assets previously accounted for as
&#8220;Available for sale financial assets&#8221; (and shown as &#8220;Financial assets at fair
value through other comprehensive income&#8221; as of December 31, 2017 in this
Annual Report (see </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation of
Financial Information&#8212;Application of IFRS 9</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)) to </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Financial assets at amortized cost&#8221; as of December 31,
2018. See Note 2.4 to our Consolidated Financial Statements for further
information regarding the classification and measurement of financial
instruments.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets at amortized cost of this operating
segment as of December 31, 2018 amounted to &#8364;57,709 million, a 21.0% increase
compared with the &#8364;47,691 million recorded as of December 31, 2017. Within this
heading, loans and advances to customers of this operating segment as of
December 31, 2018 amounted to &#8364;51,101 million, a 11.7% increase compared with
the &#8364;45,768 million recorded as of December 31, 2017, primarily due to the
appreciation of the Mexican peso against the euro and to the increase in loans
to enterprises, and to a lesser extent, the increase in the consumer portfolios
and residential mortgages.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial liabilities held for trading and designated at
fair value through profit or loss of this operating segment as of December 31,
2018 amounted to &#8364;18,028 million, a 91.7% increase compared with the &#8364;9,405
million recorded as of December 31, 2017, mainly as a result of the initial
implementation of IFRS 9 as of January 1, 2018, which resulted in the
reclassification of certain deposits at amortized cost to the held for trading
portfolio.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Customer deposits of this operating segment as of December
31, 2018 amounted to &#8364;50,530 million, a 1.1% increase compared with the &#8364;49,964
million recorded as of December 31, 2017, primarily due to the appreciation of
the Mexican peso against the euro.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Mutual funds of this operating segment as of December 31,
2018 amounted to &#8364;17,733 million, a 7.9% increase compared with the &#8364;16,430
million recorded as of December 31, 2017, primarily due to the appreciation of
the Mexican peso against the euro.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This operating segment&#8217;s non-performing loan ratio was 2.1%
as of December 31, 2018 and 2.3% as of December 31, 2017. This operating
segment&#8217;s non-performing loan coverage ratio increased to 154% as of December
31, 2018, from 123% as of December 31, 2017 due to an increase of 26.6% in the
provisions mainly as a result of the first implementation of IFRS 9.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Turkey</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">This operating segment comprises
the banking and insurance businesses conducted by Garanti and its consolidated
subsidiaries.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:18.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Turkish lira depreciated 25.0% against the euro as of
December 31, 2018 compared to December 31, 2017, negatively affecting the
business activity of the Turkey operating segment as of December 31, 2018 expressed
in euros.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets designated at fair value of this operating
segment as of December 31, 2018 amounted to &#8364;5,506 million, a 14.2% decrease
from the &#8364;6,419 million recorded as of December 31, 2017, mainly as a result of
the depreciation of the Turkish lira. See Note 2.4 to our Consolidated
Financial Statements for further information regarding the classification and
measurement of financial instruments.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets at amortized cost of this operating
segment as of December 31, 2018 amounted to &#8364;50,315, a 22.7% decrease compared
with the &#8364;65,083 recorded as of December 31, 2017. Within this heading, loans
and advances to customers of this operating segment as of December 31, 2018
amounted to &#8364;41,478 million, a 19.3% decrease compared with the &#8364;51,378 million
recorded as of December 31, 2017 principally due to the depreciation of the
Turkish lira and, to a lesser extent, the decrease in mortgage loans and loans
to enterprises denominated in Turkish lira, offset in part by an increase in
credit card lending and car loans.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial liabilities held for trading and designated at
fair value through profit or loss of this operating segment as of December 31,
2018 amounted to &#8364;1,852 million, a 185.9% increase compared with the &#8364;648
million recorded as of December 31, 2017, mainly as a result of the initial
implementation of IFRS 9 as of January 1, 2018 (see Note 2.4 to our
Consolidated Financial Statements for further information regarding the
classification and measurement of financial instruments), which resulted in the
reclassification of certain deposits at amortized cost to the held for trading
portfolio, which more than offset the impact of the depreciation of the Turkish
lira.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Customer
deposits of this operating segment as of December 31, 2018 amounted to &#8364;39,905
million, a 10.7% decrease compared with the &#8364;44,691 million recorded as of
December 31, 2017, mainly as a result of the depreciation of the Turkish lira,
the increased relative weight of deposits held in Turkish lira and the decrease
in deposits held in U.S. dollars, partially offset by the increase in deposits
held in Turkish lira. The increase in deposits held in Turkish lira and the
decrease in deposits held in U.S. dollars was mainly attributable to the higher
interest rates paid on deposits held in Turkish lira.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Mutual
funds in this operating segment as of December 31, 2018 amounted to &#8364;669
million, a 47.1% decrease compared with the &#8364;1,265 million as of December 31,
2017, mainly as a result of the depreciation of the Turkish lira against the
euro and the market evolution.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pension funds in this operating segment as of December 31,
2018 amounted to &#8364;2,225 million, a 15.6% decrease compared with the &#8364;2,637
million recorded as of December 31, 2017, mainly as a result of the
depreciation of the Turkish lira against the euro. Excluding the exchange rate
effect, there was a 12.4% increase, mainly as a result of the increase in the
number of participants to approximately 1.7 million from approximately 1.2
million as of December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The non-performing loan ratio of this operating segment as
of December 31, 2018 was 5.3% compared with 3.9% as of December 31, 2017 </font><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">mainly as a result </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">of increased
impairments of wholesale loans affected by </font><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">the deteriorating macroeconomic scenario</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. This operating
segment&#8217;s non-performing loan coverage ratio decreased to 81% as of December
31, 2018, from 85% as of December 31, 2017, mainly due to the 12.7% increase in
the balance of non-performing loans as of December 31, 2018 in comparison with
the balance recorded as of December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">South America</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The South America operating segment includes the Group&#8217;s
banking and insurance businesses in the region. </font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The business
units included in the South America operating segment are: </font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:35.7pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">Retail and Corporate Banking</font></i></b></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">: </font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">includes banks in
Argentina, Colombia, Paraguay, Peru, Uruguay and Venezuela.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">Insurance: </font></i></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">includes insurance businesses in Argentina, Colombia and
Venezuela.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In November 2017, BBVA reached an agreement for the sale of
BBVA&#8217;s 68.2% direct and indirect stake in BBVA Chile. The sale was completed on
July 6, 2018. For additional information, see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;History and Development of
the Company&#8212;Capital Divestitures&#8212;2018&#8212;Sale of BBVA&#8217;s stake in BBVA Chile</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&#8221;
The Group keeps an automobile financing business in Chile, mainly carried out
by Forum Servicios Financieros, S.A. BBVA has decided to initiate a strategic
review of alternatives for its automobile financing business in this country.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, the currencies of certain of the countries in
which BBVA operates in South America (mainly the Argentine peso, which depreciated
significantly, and the Colombian peso) depreciated against the euro compared to
December 31, 2017, negatively affecting the business activity of the South
America operating segment expressed in euros.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets designated at fair value for this operating segment as
of December 31, 2018 amounted to &#8364;5,634 million, a 51.5% decrease compared with
the &#8364;11,627 million recorded as of December 31, 2017, mainly attributable to
the depreciation of certain local currencies, the sale of BBVA Chile and the
initial implementation of IFRS 9 as of January 1, 2018. The initial
implementation of IFRS 9 resulted in the reclassification of certain financial
assets previously accounted for as &#8220;Available for sale financial assets&#8221; (and
shown as &#8220;Financial assets at fair value through other comprehensive income&#8221; as
of December 31, 2017 in this Annual Report (see </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation of Financial Information&#8212;Application of IFRS 9</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)) to
</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Financial assets at amortized cost&#8221; as of
December 31, 2018. See Note 2.4 to our Consolidated Financial Statements for
further information regarding the classification and measurement of financial
instruments.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets at amortized cost of this operating segment as of
December 31, 2018 amounted to &#8364;36,649 million, a 28.4% decrease compared with
the &#8364;51,207 recorded as of December 31, 2017. Within this heading, loans and
advances to customers of this operating segment as of December 31, 2018
amounted to &#8364;34,469 million, a 28.6% decrease compared with the &#8364;48,272 million
recorded as of December 31, 2017, mainly as a result of the sale of BBVA Chile
and, to a lesser extent, the impact of the depreciation of certain currencies
in the region, in particular the Argentine peso. By country, financial assets
at amortized cost increased in Argentina (excluding the impact of currency
depreciation), Colombia and Peru. At constant exchange rates, there were
increases in residential mortgages, consumer finance and loans to enterprises.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Customer deposits of this operating segment as of December 31, 2018 amounted
to &#8364;35,842 million, a 21.5% decrease compared with the &#8364;45,666 million recorded
as of December 31, 2017 mainly as a result of the sale of BBVA Chile and, to a
lesser extent, the impact of the depreciation of certain currencies in the
region, in particular the Argentine peso. By country, customer deposits
increased in Argentina (excluding the impact of currency depreciation),
Colombia and Peru. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Mutual funds in this operating segment as of December 31,
2018 amounted to &#8364;3,741 million, a 28.7% decrease compared with the &#8364;5,248
million as of December 31, 2017, mainly due to the sale of BBVA Chile, and, to
a lesser extent, the depreciation of certain currencies in the region, in
particular the Argentine peso.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pension funds in this operating segment as of December 31,
2018 amounted to &#8364;7,921 million, a 14.0% increase compared with the &#8364;6,949
million recorded as of December 31, 2017, mainly as a result of an increase in
pension funds in Bolivia.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The non-performing loan ratio of this operating segment as
of December 31, 2018 increased to 4.3% compared with 3.4% as of December 31,
2017, primarily due to the sale of BBVA Chile, which had better risk indicators
than the other the countries where the Group operates in the region. This
operating segment&#8217;s non-performing loan coverage ratio increased to 97% as of
December 31, 2018, from 89% as of December 31, 2017, mainly due to the 7.3%
decrease in the balance of non-performing loans as of December 31, 2018
compared to the balance recorded as of December 31, 2017.</font></font></p>


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<p style="border:none;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Rest of Eurasia</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This operating segment includes the retail and wholesale
banking businesses carried out by the Group in Europe (primarily Portugal) and
Asia, excluding Spain and Turkey.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets designated at fair value for this
operating segment as of December 31, 2018 amounted to &#8364;504 million, a 49.1%
decrease compared with the &#8364;991 million recorded as of December 31, 2017,
mainly as a result of the initial implementation of IFRS 9 as of January 1,
2018, which resulted in the reclassification of certain financial assets
previously accounted for as &#8220;Available for sale financial assets&#8221; (and shown as
&#8220;Financial assets at fair value through other comprehensive income&#8221; as of
December 31, 2017 in this Annual Report (see </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation
of Financial Information&#8212;Application of IFRS 9</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)) to </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Financial assets at amortized cost&#8221; as of December 31,
2018. See Note 2.4 to our Consolidated Financial Statements for further
information regarding the classification and measurement of financial
instruments.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets at amortized cost of this operating
segment as of December 31, 2018 amounted to &#8364;16,930 million, a 12.8% increase
compared with the &#8364;15,009 recorded as of December 31, 2017. Within this
heading, loans and advances to customers of this operating segment as of
December 31, 2018 amounted to &#8364;15,731 million, a 5.8% increase compared with
the &#8364;14,864 million recorded as of December 31, 2017, mainly as a result of an
increase in enterprise loans.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Customer
deposits of this operating segment as of December 31, 2018 amounted to &#8364;4,876
million, a 27.2% decrease compared with the &#8364;6,700 million recorded as of
December 31, 2017, mainly as a result of the decrease in time deposits, as the
low interest rate environment has caused larger clients not to renew their
deposit contracts.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pension funds in this operating segment as of December 31,
2018 amounted to &#8364;388 million, a 3.2% increase compared with the &#8364;376 million
recorded as of December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The non-performing loan ratio of this
operating segment as of December 31, 2018 was 1.7% compared with 2.4% as of
December 31, 2017. This operating segment&#8217;s non-performing loan coverage ratio
increased to 83% as of December 31, 2018, from 74% as of December 31, 2017,
mainly due to the 23% decrease in the balance of non-performing loans as of
December 31, 2018, compared to the balance recorded as of December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Insurance Activity</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group has
insurance subsidiaries mainly in Spain and Latin America (mostly in Mexico).
The main product offered by the insurance subsidiaries is life insurance to
cover the risk of death (risk insurance) and life-savings insurance. Within
life and accident insurance, a distinction is made between freely sold products
and those offered to customers who have taken mortgage or consumer loans, which
cover the principal of those loans in the event of the customer&#8217;s death.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">There are
two types of savings products: individual insurance, which seeks to provide the
customer with savings for retirement or other events, and group insurance,
which is taken out by employers to cover their commitments to their employees.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See Note 23 to our Consolidated Financial Statements for information on
our insurance activity.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Monetary Policy</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The integration of
Spain into the European Monetary Union (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EMU</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) on January 1, 1999
implied the yielding of monetary policy sovereignty to the Eurosystem. The &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Eurosystem</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;
is composed of the ECB and the national central banks of the 19 member
countries that form the EMU.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:14.2pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Eurosystem determines and executes the policy for the single monetary
union of the 19 member countries of the EMU. The Eurosystem collaborates with
the central banks of member countries to take advantage of the experience of
the central banks in each of its national markets. The basic tasks carried out
by the Eurosystem include:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">defining and implementing the single monetary policy
of the EMU;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">conducting foreign exchange operations in accordance
with the set exchange policy;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">lending to national monetary financial institutions in
collateralized operations;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">holding and managing the official foreign reserves of
the member states; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">promoting the smooth operation of the payment systems.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, the
Treaty on the EU (&#8220;EU Treaty&#8221;) establishes a series of rules designed to
safeguard the independence of the system, in its institutional as well as its
administrative functions.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Supervision</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and Regulation</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This section discusses the most significant supervision and
regulatory matters applicable to us as a bank organized under the laws of
Spain, our principal market, and as a result of activities we undertake in the
European Union. Further below is information regarding supervision and
regulatory matters applicable to us under U.S. law as a result of our banking
activities in the United States. In addition, we are generally subject to
comprehensive regulation as a bank, asset manager or insurer, as applicable, in
the other countries where we operate, such as Mexico and Turkey.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Since September 2012, significant progress has been made
toward the establishment of a European banking union. The banking union is
expected to be achieved through new harmonized banking rules (the single
rulebook) and a new institutional framework with stronger systems for both banking
supervision and resolution that will be managed at the European level. Its two
main pillars are the Single Supervisory Mechanism (SSM) and the Single
Resolution Mechanism (SRM). As a further step to a fully-fledged banking union,
in November 2015, the European Commission put forward a proposal for a European
Deposit Insurance Scheme (EDIS), which intends to provide a stronger and more
uniform degree of insurance coverage for all retail depositors in the banking
union. However, this element is still pending, with a high-level group being
created (at a political, and not technical level), due to review its results in
June 2019.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pursuant to Article 127(6) of the Treaty on the Functioning
of the EU and the SSM Framework Regulation, the ECB is responsible for specific
tasks concerning the prudential supervision of credit institutions established
in participating Member States. Since 2014, it carries out these supervisory
tasks within the SSM framework, composed of the ECB and the relevant national
authorities. The ECB is responsible for the effective and consistent
functioning of the SSM, with a view to carrying out effective banking
supervision, contributing to the safety and soundness of the banking system and
the stability of the financial system.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Its main aims are to:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ensure the safety and soundness of the
European banking system;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">increase financial integration and
stability; and </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=ES style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ensure consistent supervision.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The ECB, in cooperation with the relevant national
supervisors, is responsible for the effective and consistent functioning of the
SSM.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">It has the authority to:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">conduct supervisory reviews, on-site
inspections and investigations;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">grant or withdraw banking licenses;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">assess banks&#8217; acquisitions and
disposals of qualifying holdings;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ensure compliance with EU prudential
rules; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">set higher capital requirements (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">buffers</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
in order to counter any financial risks.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, since November
2014, it assumed the direct supervision of the most significant banks of the
participating countries, including Banco Bilbao Vizcaya Argentaria, S.A.
Ongoing supervision of the significant banks is carried out by Joint
Supervisory Teams (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">JSTs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). Each significant bank has a dedicated JST,
comprising staff of the ECB and the relevant national supervisors (in our case,
the Bank of Spain).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The criteria for determining
whether a bank is considered significant (and therefore whether it falls under
the ECB&#8217;s direct supervision) are set out in the SSM Framework Regulation and
the SSM Framework Regulation. To qualify as significant, a bank must fulfill at
least one of these criteria:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.15pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">size: the total value of its assets
exceeds &#8364;30 billion;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.15pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">economic importance: for the specific
country or the EU economy as a whole;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.15pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">cross border activities: the total
value of its assets exceeds &#8364;5 billion and the ratio of its cross-border
assets/liabilities in more than one other participating Member State to its
total assets/liabilities is above 20%; or </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.15pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">direct public financial assistance: it
has requested or received funding from the European Stability Mechanism (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ESM</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
or the European Financial Stability Facility.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The ECB can decide at any time to classify a bank as
significant to ensure that high supervisory standards are applied consistently.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The ECB indirectly supervises banks that are not considered
significant (also known as &#8220;less significant&#8221; institutions), which continue to
be supervised by their national supervisors, in close cooperation with the ECB.
See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8212;Bank of Spain&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> below for an explanation of the tasks to be
performed by the Bank of Spain.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Bank of
Spain</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Bank of Spain was established in 1962 as a public law entity (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">entidad
de derecho p&#250;blico</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) that operates as Spain&#8217;s autonomous central bank. In
addition, it has the ability to function as a private bank. Except in its
public functions, the Bank of Spain&#8217;s relations with third parties are governed
by private law, and its actions are subject to the civil and business law codes
and regulations.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Until January 1, 1999, the Bank of Spain was also the sole entity
responsible for implementing Spanish monetary policy. For a description of
monetary policy since the introduction of the euro, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8212;Monetary Policy&#8221;.</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Since January 1, 1999, the Bank of
Spain has performed the following basic functions attributed to the Eurosystem:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">defining and implementing the
Eurosystem&#8217;s monetary policy, with the principal aim of maintaining price
stability across the Eurozone;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">conducting currency exchange operations
consistent with the provisions of Article 219 of the EU Treaty, and holding and
managing the Member States&#8217; official currency reserves;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">promoting the sound working of payment
systems in the Eurozone; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=ES style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">issuing legal tender banknotes.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Recognizing the foregoing
functions as a fully-fledged member of the Eurosystem, the Bank of Spain Law of
Autonomy (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Ley de Autonom&#237;a del Banco de Espa&#241;a</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) stipulates the
performance of the following functions by the Bank of Spain:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">holding and managing currency and
precious metal reserves not transferred to the ECB;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">promoting the proper working and
stability of the financial system and, without prejudice to the functions of
the ECB, the proper working of the national payment systems, providing
emergency liquidity assistance (ELA);</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">promoting the sound working and
stability of the financial system and, without prejudice to the functions of
the ECB, of national payment systems;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">placing coins in circulation and the
performance, on behalf of the State, of all such other functions entrusted to
it in this connection;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">preparing and publishing statistics
relating to its functions, and assisting the ECB in the compilation of the
necessary statistical information;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">providing treasury services and acting
as financial agent for government debt;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">advising the government, preparing the
appropriate reports and studies; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">exercising all other powers attributed
to it by legislation.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As indicated above, on November 4, 2014 the ECB assumed responsibility
for the supervision of Eurozone banks, following a year-long preparatory phase
that included an in-depth examination of the resilience and balance sheets of
the largest banks in the Eurozone. For all the banks not supervised directly by
the ECB, around 3,500 banks, the ECB will also set and monitor the relevant
supervisory standards and work closely with the national competent authorities
in the supervision of these banks.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The ECB has set up homogenous
criteria for all the supervised institutions under the SSM and has assumed
decision-making power. National authorities, such as the Bank of Spain, provide
their knowledge on their financial systems and the entities located in their
jurisdictions. Therefore, the role of the Bank of Spain continues to be
relevant for financial entities located in Spain. In particular, the Bank of
Spain&#8217;s tasks include the following:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">it collaborates with the ECB in the
supervision of significant entities through its participation in the JSTs of
the relevant Spanish banks, and has a leading role in the on-site inspections;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the Bank of Spain supervises directly
the less significant Spanish banks. The ECB&#8217;s indirect supervision of these
entities is focused on the homogenization of supervisory criteria and reception
of information;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">there are several supervisory
competencies over banking entities, for example money laundering and terrorist
financing, customer protection and certain aspects of the monitoring of the
financial markets that are out of the scope of the SSM and remain under the
purview of the Bank of Spain;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the Bank of Spain participates in
certain administrative processes controlled by the ECB, such as the granting or
withdrawal of licenses and the application of fit and proper tests to members
of the board and senior management of Spanish banks, and supports the ECB in
cross-border tasks such as the definition of policies, methodologies or crisis
management;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the Bank of Spain continues to
supervise other institution such as appraisal companies or specialist credit
institutions, e-money issuing entities, mutual guarantee and re-guarantee
companies;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the Bank of Spain participates in the
governing bodies of the SSM contributing to the adoption of decisions affecting
all credit institutions located in the Eurozone; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:50.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the Bank of Spain is also responsible
for applying a number of macroprudential instruments, such as setting the
countercyclical capital requirements and identifying and setting capital
buffers for systemically important institutions.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Single Resolution Fund</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;font-weight:normal;">The Single Resolution Fund (the &#8220;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;">Fund</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;font-weight:normal;">&#8221;) was established pursuant to Regulation
(EU) No 806/2014 as a single financing arrangement for all the Member States
participating in the SSM.</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;font-weight:normal;">The Fund should be
used in resolution procedures where the Single Resolution Board (&#8220;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;">SRB</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;font-weight:normal;">&#8221;) considers it necessary to ensure the
effective application of the resolution tools. The Fund should have adequate
financial resources to allow for an effective functioning of the resolution
framework by being able to intervene, where necessary, for the effective
application of the resolution tools and to protect financial stability without
recourse to taxpayers&#8217; money.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;font-weight:normal;">The SRB should calculate the annual contributions to
the Fund on the basis of a single target level established as 1% of the amount
of covered deposits of all of the credit institutions authorized in all of the
participating Member States. The SRB should ensure that the available financial
means of the Fund reach at least the target level by the end of an initial
period of eight years from January 1, 2016. The annual contribution to the Fund
should be based on a flat contribution determined on the basis of an
institution&#8217;s liabilities excluding own funds and covered deposits and a
risk-adjusted contribution depending on the risk profile of that institution.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;font-weight:normal;">On the December 14, 2018 Euro Summit, participants
endorsed the terms of reference of the common backstop to the Single Resolution
Fund, which determine how it will be operationalized (subject to an assessment
by 2020). Participants also endorsed the term sheet on the European Stability
Mechanism (&#8220;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;">ESM</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;font-weight:normal;">&#8221;) reform, which
includes a role as the backstop for the Fund. The Euro Summit requested the
Eurogroup to prepare the adequate amendments to the ESM Treaty by June 2019.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Deposit
Guarantee Fund of Credit Institutions</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Deposit Guarantee Fund of Credit Institutions (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fondo
de Garant&#237;a de Dep&#243;sitos</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> or &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">FGD</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), which operates under the
guidance of the Bank of Spain, was set up by virtue of Royal Decree-Law
16/2011, of October 14. It is an independent legal entity and enjoys full
authority to fulfill its functions. Royal Decree-Law 16/2011 unified the three
previous guarantee funds that existed in Spain: the Deposit Guarantee Fund of
Saving Banks, the Deposit Guarantee Fund of Credit Entities and the Deposit
Guarantee Fund of Banking Establishments.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The main objective of the FGD is to guarantee deposits and
securities held by credit institutions, up to the limit of &#8364;100,000. It also
has the authority to carry out any such actions necessary to reinforce the
solvency and operation of credit institutions in difficulty, with the purpose
of defending the interests of depositors and deposit guarantee funds.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In order to fulfill its purposes, the FGD receives annual
contributions from member credit institutions. The current annual contribution
requirement is &#8364;2 for every &#8364;1,000 guaranteed deposits held by the respective
member institution as of year-end. The Minister of the Economy and Finance is
authorized to reduce the contributions when the FGD&#8217;s equity is considered
sufficient to meet its needs. Moreover, it may suspend contributions when the
FGD&#8217;s total equity reaches 1% of the calculation base of the contributions of
the member institutions as a whole. Under certain circumstances defined by law,
there may be extraordinary contributions from the institutions, and the
European Central Bank may also require exceptional contributions of an amount
set by law.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, 2017 and 2016 all of the Spanish
banks belonging to the BBVA Group were members of the FGD and were thus
obligated to make annual contributions to it.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investment
Guarantee Fund</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree 948/2001, of August 3, regulates investor guarantee schemes
(</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fondo de Garant&#237;a de Inversores</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) related to both investment firms and
to credit institutions. These schemes are set up through an investment
guarantee fund for securities broker and broker-dealer firms and the deposit
guarantee funds already in place for credit institutions. A series of specific
regulations have also been enacted, defining the system for contributing to the
funds.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The General
Investment Guarantee Fund Management Company was created in a relatively short
period of time and is a business corporation with capital in which all the fund
members hold an interest. Member firms must make a joint annual contribution to
the fund equal to 0.06% over the 5% of the securities that they hold on their
client&#8217;s behalf. However, it is foreseen that these contributions may be
reduced if the fund reaches a level considered to be sufficient.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Liquidity Requirements &#8211; Minimum Reserve Ratio</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The legal framework for the
minimum reserve ratio is set out in Regulation (EC) No. 2818/98 of the ECB of
December 1, 1998 on the application of minimum reserves (ECB/1998/15). The
reserve coefficient for overnight deposits, deposits with agreed maturity or
period of notice up to two years, debt securities issued with maturity up to
two years and money market paper is 1%. For deposits with agreed maturity or
period of notice over two years, repos and debt securities issued with maturity
over two years there is no required reserve coefficient.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">According to the Delegated
Regulation (EU) 2015/61 issued by the European Commission of October 10, 2014,
the LCR ratio came into force in Europe on October 1, 2015, with an initial 60%
minimum requirement, progressively increased (phased-in) up to 100% in 2018.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investment
Ratio</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the past, the government used the investment ratio to
allocate funds among specific sectors or investments. As part of the
liberalization of the Spanish economy, it was gradually reduced to a rate of
zero percent as of December&nbsp;31, 1992. However, the law that established
the ratio has not been abolished and the government could re-impose the ratio,
subject to applicable EU requirements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Capital Requirements</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In December 2010, the Basel
Committee on Banking Supervision (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Basel Committee</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) proposed a
number of fundamental reforms to the regulatory capital framework for
internationally active banks (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Basel III capital reforms</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). The
Basel III capital reforms raised the quantity and quality of capital required
to be held by a financial institution with an emphasis on Common Equity Tier 1
capital (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CET1 capital</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a Spanish credit institution,
we are subject to the CRD IV Directive, through which the EU began implementing
the Basel III capital reforms, with effect from January 1, 2014, with certain
requirements being phased in until January 1, 2019. The core regulation
regarding the solvency of credit institutions is the CRR, which is complemented
by several binding regulatory technical standards, all of which are directly
applicable in all EU Member States, without the need for national
implementation measures. The implementation of CRD IV Directive into Spanish
law took place through Royal Decree-Law 14/2013, Law 10/2014, RD 84/2015, Bank
of Spain Circular 2/2014 and Bank of Spain Circular 2/2016. On November 23,
2016, the European Commission published a package of proposals, including,
among others, proposed changes to the CRD IV Directive and CRR in order to
increase the resilience of EU institutions and enhance financial stability.&#160; On
May 25, 2018, the Council of the European Union published the Presidency
compromise proposals relating to the European Commission&#8217;s package of proposals
referred to above and on June 25 and 28, 2018, the European Parliament
Committee on Economic and Monetary Affairs published reports containing its
proposed amendments to the European Commission&#8217;s package of proposals. The
final political agreement between the European Parliament and the Council on
these reforms was published on February 15, 2019 (the European Commission&#8217;s
package of proposals together with the Presidency compromise proposals, the
proposed amendments of the European Parliament and such final political
agreement, the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EU Banking Reforms</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Among other things, CRD IV
established minimum &#8220;Pillar 1&#8221; capital requirements both on a consolidated and
individual basis (which includes a CET1 capital ratio of 4.5%, a Tier 1 capital
ratio of 6% and a total capital ratio of 8% of risk-weighted assets).
Additionally, CRD IV increased the level of capital required by means of a
&#8220;combined buffer requirement&#8221; that entities must comply with from 2016 onwards.
The &#8220;combined buffer requirement&#8221; introduced five new capital buffers: (i) the
capital conservation buffer, (ii) the G-SIB buffer, (iii) the
institution-specific countercyclical buffer, (iv) the D-SIB buffer, and (v) the
systemic risk buffer.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The combination of the capital
conservation buffer, the institution-specific countercyclical buffer and the
higher of (depending on the institution) the systemic risk buffer, the G-SIB
buffer and the D-SIB buffer, in each case (if applicable to the relevant
institution&#8212;in the event that the systemic risk buffer only applies to local
exposures, such buffer is added to the higher of the G-SIB buffer or the D-SIB
buffer) is referred to as the &#8220;combined buffer requirement&#8221;. This &#8220;combined
buffer requirement&#8221; is in addition to the minimum &#8220;Pillar 1&#8221; capital
requirements and is required to be satisfied with CET1 capital.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
G-SIB buffer applies to those institutions included on the list of G-SIBs,
which is updated annually by the FSB. We have been excluded from this list with
effect from January 1, 2017 and so, unless otherwise indicated by the FSB (or
the Bank of Spain) in the future, we will not be required to maintain a G-SIB
buffer any longer.<a name="page_57"></a><a name="page_57_bclEnd"></a></font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Bank of Spain announced on
November 21, 2018 that we continue to be considered a D-SIB, and consequently
we are required to maintain a fully-loaded D-SIB buffer of a CET1 capital ratio
of 0.75% on a consolidated basis.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Bank of Spain agreed in
December 2015 to set the countercyclical capital buffer applicable to credit
exposures in Spain at 0% from January 1, 2016. This percentage is revised each
quarter. The Bank of Spain agreed in December 2018 to maintain the
countercyclical capital buffer at 0% for the first quarter of 2019. As of the
date of this Annual Report, the countercyclical capital buffer applicable to
the Group stands at 0.01% and relates to the Group&#8217;s exposures in other
jurisdictions.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Bank of Spain has greater
discretion in relation to the determination of the institution-specific
countercyclical buffer, the buffer for D-SIBs and the systemic risk buffer.
With the entry into force of the SSM on November 4, 2014, the ECB has the
ability to provide certain recommendations in this respect and potentially
increase such buffers.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Moreover, Article 104 of the CRD
IV Directive, as implemented by Article 68 of Law 10/2014, and similarly
Article 16 of the SSM Regulation, also contemplates that in addition to the
minimum &#8220;Pillar 1&#8221; capital requirements and the combined buffer requirements,
supervisory authorities may impose further &#8220;Pillar 2&#8221; capital requirements
(above &#8220;Pillar 1&#8221; requirements and below the combined buffer requirements) to
cover other risks, including those not considered to be fully captured by the
minimum &#8220;own funds&#8221; &#8220;Pillar 1&#8221; requirements under CRD IV or to address
macro-prudential considerations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Accordingly, any additional
&#8220;Pillar 2&#8221; own funds requirement that may be imposed on us and/or the Group by
the ECB pursuant to the SREP will require us and/or the Group to hold capital
levels above the minimum &#8220;Pillar 1&#8221; capital requirements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the most recent
SREP carried out by the ECB, we received a communication from the ECB pursuant
to which we are required to maintain, as from March 1, 2019, on a consolidated
basis, a CET1 capital ratio of 9.26% (8.53% on an individual basis) and a total
capital ratio of 12.76% (12.03% on an individual basis).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This total capital requirement
(on a consolidated basis) includes: (i) the minimum CET1 requirement under
Pillar 1 (4.5%); (ii) the Additional Tier 1 capital (AT1) requirement under
Pillar 1 (1.5%); (iii) the tier 2 capital requirement under Pillar 1 (2.0%);
(iv) the CET1 capital requirement under Pillar 2 (1.5%), which remains
unchanged since the prior SREP; (v) the capital conservation buffer (2.5% of
CET1); (vi) the Other Systemic Important Institution buffer (OSII) (0.75% of
CET1); and (vii) the countercyclical capital buffer (0.01% of CET1).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, our
phased-in total capital ratio was 15.71% on a consolidated basis and 22.07% on
an individual basis. As of December 31, 2018, our CET1 phased-in capital ratio
was 11.58% on a consolidated basis and 17.45% on an individual basis. Such
ratios exceed the applicable regulatory requirements described above, but there
can be no assurance that the total capital requirements imposed on us and/or
the Group from time to time may not be higher than the levels of capital
available at such point in time. There can also be no assurance as to the
result of any future SREP carried out by the ECB and whether this will impose
any further &#8220;Pillar 2&#8221; additional own funds requirements on us and/or the
Group.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Additionally, on February 1,
2019, the Bank announced its new CET1 fully-loaded capital target, consisting
of a CET1 ratio within the range between 11.5% and 12.0% on a consolidated
basis, and which the Bank expects to achieve by 2019 year-end. No assurance can
be given that the Bank will achieve this target. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Cautionary Statement
Regarding Forward-Looking Statements&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. Any failure by the Bank to maintain
a consolidated CET1 capital ratio in line with its CET1 fully-loaded capital
target could adversely affect the market price or value or trading behavior of
any securities issued by the Bank (and, in particular, any of its capital
instruments) and ultimately lead to the imposition of further &#8220;Pillar 2&#8221;
guidance or requirements.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">According
to Article 48 of Law 10/2014, Article 73 of RD 84/2015 and Rule 24 of Bank of
Spain Circular 2/2016, any entity not meeting its &#8220;combined buffer requirement&#8221;
is required to determine its MDA as described therein. Until the MDA has been
calculated and communicated to the Bank of Spain, where applicable, the
relevant entity shall not make any (i) distributions relating to CET1 capital,
(ii) payments in respect of variable remuneration or discretionary pension
revenues and (iii) distributions relating to Additional Tier 1 instruments
(&#8220;discretionary payments&#8221;) and, once the MDA has been calculated and
communicated to the Bank of Spain, any such discretionary payments by that
entity will be subject to such MDA limit. Furthermore, as set forth in Article
48 of Law 10/2014, the adoption by the Bank of Spain of the measures prescribed
in Articles 68.2.h) and 68.2.i) of Law 10/2014, aimed at strengthening own
funds or limiting or prohibiting the distribution of dividends, respectively,
will also result in a requirement to determine the MDA and restrict
discretionary payments to such MDA. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 3. Key Information&#8213;Risk
Factors&#8213;Legal, Regulatory and Compliance Risks&#8213;Increasingly onerous
capital requirements may have a material adverse effect on the Bank&#8217;s business,
financial condition and results of operations&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 3. Key
Information&#8213;Risk Factors&#8213;Legal, Regulatory and Compliance
Risks&#8213;Any failure by the Bank and/or the Group to comply with its MREL
could have a material adverse effect on the Bank&#8217;s business, financial
condition and results of operations&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> for additional information.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Additionally, BRRD prescribes
that we shall hold a minimum level of own funds and eligible liabilities in
relation to total (MREL). On May 23, 2018, we announced that we had received
notification from the Bank of Spain regarding our MREL, as determined by the
SRB. Our MREL has been set at 15.08% of the total liabilities and own funds of
our resolution group at a sub-consolidated level as of December 31, 2016, which
corresponds to 28.04% of the risk-weighted assets of the resolution group as of
December 31, 2016, and must be met by January 1, 2020. Pursuant to the Group&#8217;s
multiple-point-of-entry resolution strategy as established by the SRB, our
resolution group consists of us and our subsidiaries which belong to the same
European resolution group. As of December 31, 2016, the total liabilities and
own funds of our resolution group amounted to &#8364;385,647 million, of which our
total liabilities and own funds comprised approximately 95%, and the
risk-weighted assets of our resolution group amounted to &#8364;207,362 million.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Capital
Management</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Basel Capital Accord - Economic Capital</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s capital management is performed at both the regulatory and
economic levels.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regulatory</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> capital management is based
on the analysis of the capital base and the capital ratios (core capital, Tier
1, etc.) using Basel (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BIS</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and the CRR. See Note 32 to our
Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The aim is to achieve a capital structure that is as
efficient as possible in terms of both cost and compliance with the
requirements of regulators, ratings agencies and investors. Active capital
management includes securitizations, sales of assets, and preferred and
subordinated issues of equity and hybrid instruments. In recent years we have
taken various actions in connection with our capital management and in order to
comply with various capital requirements applicable to us.&nbsp;We may
make&nbsp;securities issuances or undertake&nbsp;asset sales in the future,
which could involve outright sales of businesses or reductions in interests
held by us, which could be material&nbsp;and could be undertaken at less than
their respective book values, resulting in material losses thereon,&nbsp;in
connection with our </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">capital management and in
order to comply with capital requirements or otherwise.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Bank has obtained the Bank of Spain&#8217;s approval with respect to its
internal model of capital estimation (&#8220;IRB&#8221;) concerning certain portfolios and
its operational risk internal model.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">From an economic standpoint, capital management seeks to optimize value
creation at the Group and at its different business units.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group allocates economic capital (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CER</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) commensurate with the
risks incurred by each business. This is based on the concept of unexpected
loss at a certain level of statistical confidence, depending on the Group&#8217;s
targets in terms of capital adequacy. The CER calculation combines lending
risk, market risk (including structural risk associated with the balance sheet
and equity positions), operational risk and fixed asset and technical risks in
the case of insurance companies.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Shareholders&#8217; equity, as calculated under BIS rules, is an
important metric for the Group. However, for the purpose of allocating capital
to operating segments the Group prefers CER. It is risk-sensitive and thus
better reflects management policies for the individual businesses and the
business portfolio. These provide an equitable basis for assigning capital to
businesses according to the risks incurred and make it easier to compare
returns.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">To internal effects of management and pursuit of the operating segments,
the Group realizes a capital allocation to each operating segment.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Concentration of Risk</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">According to the CRR, an institution&#8217;s exposure to a client or group of
connected clients shall be considered a large exposure where its value is equal
to or exceeds 10% of its eligible capital, and such institution shall have
sound administrative and accounting procedures and adequate internal control
mechanisms for the purposes of identifying, managing, monitoring, reporting and
recording all large exposures and subsequent changes to them, in accordance
with the CRR. Where an institution is subject to Part Three, Title II, Chapter
3 of the CRR, its 20 largest exposures on a consolidated basis, excluding those
exempted from the application of Article 395(1) of the CRR, shall be made
available to the competent authorities. Additionally to the aforementioned
exposures, an institution shall also report its 10 largest exposures on a
consolidated basis to institutions as well as its 10 largest exposures on a
consolidated basis to unregulated financial entities, as well as any exposure
to a client or group of connected clients greater than &#8364;300 million (before
taking into account the effect of credit risk mitigation measures).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The CRR also imposes certain limits to large exposures. In particular, an
institution shall not incur an exposure, after taking into account the effect
of credit risk mitigation measures, to a client or group of connected clients
the value of which exceeds 25% of its eligible capital. Where that client is an
institution or where a group of connected clients includes one or more
institutions, that value shall not exceed the higher of 25% of the
institution&#8217;s eligible capital or &#8364;150 million, provided that the sum of
exposure values, after taking into account the effect of credit risk mitigation
measures, to all connected clients that are not institutions does not exceed
25% of the institution&#8217;s eligible capital. Where 25% of an institution&#8217;s
eligible capital is less than &#8364;150 million, the value of the exposure, after
taking into account the effect of credit risk mitigation measures, shall not
exceed a reasonable limit in terms of the institution&#8217;s eligible capital. That
limit shall be determined by the institution in accordance with the policies
and procedures referred to in Article 81 of the CRD IV Directive, to address
and control concentration risk. This limit shall not exceed 100% of the
institution&#8217;s eligible capital.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Legal and Other Restricted Reserves</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We are subject to the legal and other restricted reserves
requirements applicable to Spanish companies. Please see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8212;Capital
Requirements&#8221;.</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment
on Financial Assets</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For a discussion of non-performing loan provisions and
credit risk, see Note 2.2.1 to our Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regulation of the Disclosure of Fees and Interest Rates</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Banks must publish their preferential rates, rates applied
on overdrafts, and fees and commissions charged in connection with banking
transactions. Banking clients must be provided with written disclosure adequate
to permit customers to ascertain transaction costs. The foregoing regulations
are enforced by the Bank of Spain in response to bank client complaints.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 44/2002, of November 22, concerning measures to reform
the Spanish financial system, contained a rule concerning the calculation of
variable interest applicable to loans and credit secured by mortgages, bails,
pledges or any other equivalent guarantee.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Employee Pension Plans</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under the relevant collective labor agreements, BBVA and
some of its subsidiaries provide supplemental pension payments to certain
active and retired employees and their beneficiaries. These payments supplement
social security benefits from the Spanish state. See Note 2.2.12 and Note 25 to
our Consolidated Financial Statements.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Dividends</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A bank may generally dedicate all of its net profits and its
distributable reserves to the payment of dividends. In no event may dividends
be paid from non-distributable reserves. For additional information see </font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item
8. Financial Information&#8212;Consolidated Statements and Other Financial
Information&#8212;Dividends&#8221;.</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Although banks are not legally required to seek prior
approval from the Bank of Spain or the ECB before declaring interim dividends,
we inform them on a voluntary basis upon the declaration of an interim
dividend. It should be noted that the ECB recommendation dated January 7, 2019
addressed to, among others, significant supervised entities and significant supervised
groups, such as BBVA and its Group, recommends credit institutions to establish
</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">dividend</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> policies
using conservative and prudent assumptions so that, after any such
distribution, they are able to satisfy the applicable capital requirements and
any other requirements resulting from the supervisory review and evaluation
process (SREP).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Since January&nbsp;1, 2016, according to CRD IV, those
credit entities required to calculate their MDA will be subject to restrictions
on discretionary payments, which includes, among others, dividend payments. See
</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8212;Capital Requirements&#8221;.</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Bylaws allow for dividends to be paid in cash or in kind
as determined by shareholders&#8217; resolution</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Scrip
Dividend</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As in 2014, 2015 and 2016, during 2017 a scrip dividend</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> scheme called &#8220;Dividend Option&#8221; was approved by the annual
general meeting of shareholders held on March 17, 2017, whereby a resolution
for a capital increase to be charged to voluntary reserves for the
implementation of a &#8220;Dividend Option&#8221; in 2017 was passed. This resolution
allowed BBVA to implement one &#8220;Dividend Option&#8221; in April 2017 and, as a
consequence of the execution of the related capital increase, 101,271,338 new
ordinary shares were issued.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In connection therewith, BBVA shareholders were given the option to receive
all or part of their remuneration in newly issued ordinary shares of BBVA or in
cash.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On February 1, 2017 BBVA updated its shareholders&#8217; remuneration policy in
order to implement a fully in cash remuneration policy after the execution of
the 2017 &#8220;Dividend Option&#8221;. This fully in cash remuneration is expected to be
composed, for each financial year, of an interim dividend and a final dividend,
subject to any applicable restrictions and authorizations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Limitations on Types of Business</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish banks are subject
to certain limitations on the types of businesses in which they may engage
directly, but they are subject to few limitations on the types of businesses in
which they may engage indirectly. Law 10/2014 and Royal Decree 84/2015
established the regulation for governance, authorization, supervision and
solvency for credit institutions.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Mortgage Legislation</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 2/1981, of March
25, on mortgage market, as amended by Law 41/2007, regulates the different
aspects of the Spanish mortgage market and establishes additional rules for the
mortgage and financial system.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree
716/2009, of April 24, implemented several aspects of Law 2/1981. The most
significant aspect implemented by Royal Decree 716/2009 was the modification on
the loan-to-value ratio requirement intending to improve the quality of Spanish
mortgage-backed securities.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Increasing social
pressure for the reform of mortgage legislation in Spain has resulted in
changes to such legislation, which are described below.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree-Law
6/2012, of March 9, on urgent measures to protect mortgage debtors without
financial resources introduced measures to enable the restructuring of mortgage
debt and easing of collateral foreclosure aimed to protect especially
vulnerable debtors.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Such measures include the following:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">the moderation of interest rates charged on mortgage
arrears;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">the improvement of extrajudicial procedures as an
alternative to legal foreclosure;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">the introduction of a voluntary code of conduct among
lenders for regulated mortgage debt restructuring affecting especially
vulnerable debtors; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">where restructuring is unviable, lenders may, where
appropriate and on an optional basis, offer the debtor partial debt
forgiveness.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, Royal Decree-Law
27/2012, of November 15, on urgent measures to enhance the protection of
mortgage debtors provided for a two-year moratorium, from the date of its
adoption, on evictions applicable to debtor groups especially susceptible to
social exclusion, which may remain at their homes for such period.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 1/2013, of May 14, on measures to protect mortgagees, debt
restructuring and social rents, introduced important modifications to mortgage
law and civil procedure law. The most relevant modifications are:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">extension of the two-year moratorium, established by
Royal Decree 27/2012, until May 15, 2015;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">broadening the potential beneficiaries of the
moratorium of Royal Decree 6/2012;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">limitation of the interest rates applied for delay or
arrears;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">in the context of an auction, the base value of the
property shall be the value set forth in the relevant mortgage deed and in no
case shall it be less than 75% of the official appraisal value of the property;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">the possibility of suspension of enforcement
proceedings when the loan or credit facility secured by the mortgage contains
abusive clauses; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">modification of the out-of-court notarial procedure.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree-Law
11/2014, following the judgment of the EU Court of Justice of July 17, 2014
regarding Spanish foreclosure processes, allows debtors to appeal against a
court&#8217;s resolution which rejects his or her opposition to the execution of a
mortgage.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Mortgage Credit
Directive 2014/17/EU on credit agreements for consumers relating to residential
immovable property was adopted on February 4, 2014. This Directive aims to create
a Union-wide mortgage credit market with a high level of consumer protection.
It applies to both secured credit and home loans. Member States will have to
transpose its provisions into their national law by March 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The main purpose of
Royal Decree-Law 1/2015 of February 27 on the &#8220;second chance&#8221; mechanism is to
regulate such mechanism. This allows an individual who has been declared
bankrupt to be discharged of outstanding obligations as long as he or she
fulfills certain requirements: (i) the bankruptcy proceedings must have
concluded, (ii) the debtor must have acted in good faith, the Royal Decree
being restrictive as to when a debtor is considered to have acted in good
faith, and (iii) the bankruptcy judge has to approve the terms of the discharge
(and may revoke his or her approval under certain circumstances upon request of
any creditor in the following five years). Discharge from mortgage obligations
would only apply to the outstanding debts after the foreclosure, as long as
such debts are considered ordinary or subordinate according to the Spanish
Insolvency Law. Co-debtors and guarantors, if any, would remain liable.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 25/2015, of July 28, on the &#8220;second chance&#8221; mechanism reducing
the financial burden and other measures of a social nature, entered into force
on July 30, 2015. The passage through parliament of Royal Decree-Law 1/2015
allowed some new changes to be added, such as introduction of a fee protection
account for insolvency managers, limits on the remuneration of insolvency
managers and the introduction of greater flexibility to a number of elements of
the second chance mechanism.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree-Law
1/2017 of January 20, on urgent measures on consumer protection on mortgage
interest floor clauses, provides for an extrajudicial procedure pursuant to
which consumers may claim from banks amounts that might have been wrongly
charged pursuant to interest floor clauses that are deemed to be abusive and
null (in light of the judgment of the Court of Justice of the European Union of
December 21, 2016).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree-Law
5/2017, of March 17, expanded the number of beneficiaries of the Code of Good
Practice (established in Royal Decree 6/2012, as modified by Law 1/2013);
provided the possibility to those beneficiaries of the suspension of evictions
referenced in Law 1/2013 to automatically suspend evictions in certain homes
until May 2020.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The law implementing the European Mortgage Credit Directive
(2014/17/EU) will apply to credits and loans to individuals and self-employed
workers in connection with residential real estate properties. The most
relevant modifications are:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">the draft law covers credits and loans to individuals
in connection with residential real estate properties (including land and the
preservation of real estate properties), excluding reverse mortgages;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">establishes a period for consumers to evaluate the
mortgage-related documents, supervised by a Notary Public (Notario P&#250;blico);</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">clarifies some controversial issues in which
litigation has arisen in the past years (mainly, benchmark interest rates
references, foreign currencies submission and default interests);</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">establishes the possible fees that may be charged on
borrowers;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">forbids linked sales; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">settles rules regarding the early termination of
mortgages based exclusively on the amount of defaulted payments by the borrower
(in light of recent court decisions declaring null and void some early
termination clauses for their abusive terms).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Consumer Alternative Dispute Resolution Systems For
Consumer Disputes</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 7/2017, of
November 4, seeks to ensure access for Spanish and European consumers to
independent, impartial, transparent and effective alternative dispute
resolution systems. For financial institutions, a specific law shall be passed
and financial institutions will be forced to participate in those alternative
dispute resolution mechanism.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Payment Accounts</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree-Law 19/2017 of November 24, implements Directive
2014/92/EU on comparability of fees related to payment accounts, payment
account switching and access to basic payment accounts. This Royal Decree-Law:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">regulates the right of access for legal residents in
the EU and conditions for refusal;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">establishes the services linked to basic payment
accounts and the maximum fees that may be charged by banks (which, in Spain,
will be set by the Ministry of Economy);</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">introduces changes to the information that should be
provided to clients on features, costs, and conditions of services;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">facilitates account switching;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">introduces the Fee Information Document (FID) and the
Statement of Fees (SoF) which provide information on fees to clients; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">establishes that the Bank of Spain may offer free
access to websites that provide comparative information on the terms offered by
financial entities with respect to payment accounts.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The limits on fees to be charged on basic
payment accounts and the scope of individuals that can benefit from free basic
payment accounts are pending approval. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regulation ECE/228/2018, of February 28, on basic payment accounts
provides a maximum fee of &#8364;3 euro per month for basic payment accounts. In the
following months, it is expected that a new regulation will establish the scope
of individuals that can benefit from free basic payment accounts.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Payment Services</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The second Payment
Services Directive (EU) 2015/2366 (&#8220;PSD2&#8221;) allows authorized third parties
(with consent) to access customer information that was previously only
accessible to banks. PSD2 applies to payments within the European Economic Area
(EEA) and has been implemented in Spain through Royal Decree-Law 19/2018, of
November 23. This Royal Decree-Law expands the scope of the consumer protection
provisions included in PSD2 (related to transparency and information sharing)
to &#8220;microenterprises&#8221; and prohibits merchants from requesting additional
charges for using specific payment methods, including credit cards.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Mutual Fund Regulation</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 22/2014 of November 12, introduced a new
legal regime for private investment entities in order to implement (i)
Directive 2011/61/EU of the European Parliament and of the Council of June 8 on
Alternative Investment Fund Managers, and (ii) Directive 2013/14/EU of the
European Parliament and of the Council of May 21.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Asset Management Activities</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Asset management activities in the EU are expected to be
significantly impacted by the new regulation referred to below:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Regulation (EU) 2017/1131 of the European Parliament
and of the Council of June 14, 2017 on money market funds (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">MMFs</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;),
which (with the exception of certain articles which are in force since July 20,
2017) will apply from July 21, 2018. The Regulation introduces a broad set of
new regulatory measures that apply to MMFs established, managed or marketed in
the EU. In light of the perceived systemic risk presented by MMFs, the
Regulation aims to make these investment products more resilient and resistant
to contagion risks. It does this by imposing rules on eligible assets,
portfolio diversification, portfolio maturity and valuation of assets and
introduces new categories of MMFs that can offer a constant net asset value per
share if they meet certain requirements. The Regulation is meant to be an
important step in adopting a uniform set of rules that are designed to ensure
that MMFs are, as far as possible, in a position to honor redemption requests
from investors, especially during stressed market conditions, and therefore
remain a reliable tool for investors&#8217; cash management needs.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Proposal for a Regulation (EU) on pan-European
Personal Pension Product (&#8220;PEPP&#8221;). The PEPP is expected to constitute one of
the key measures towards the Commission&#8217;s project to create a single market for
capital in the EU. It aims to provide pension providers with the tools to offer
PEPPs outside their national markets, thereby creating a large and competitive
EU-level market for personal pensions which allows consumers to voluntarily
complement their savings for retirement, while benefitting from solid consumer
protection. PEPPs will have the same standard features wherever they are sold
in the EU and can be offered by a broad range of providers, such as insurance
companies, banks, occupational pension funds, investment firms and asset
managers. They will complement existing state-based, occupational and national
personal pensions, but not replace or harmonize national personal pension
regimes. In accordance with the Proposal, PEPP providers will need to be
authorized by the European Insurance and Occupational Pensions Authority
(EIOPA).</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Proposal for a Regulation of the European Parliament
and of the Council amending Regulation (EU) No 648/2012 as regards the clearing
obligation, the suspension of the clearing obligation, the reporting
requirements, the risk-mitigation techniques for OTC derivatives contracts not
cleared by a central counterparty, the registration and supervision of trade
repositories and the requirements for trade repositories.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Royal Decree 62/2018, of February 9, reduces the
maximum fees which may be charged to investors in connection with pension funds
and plans and allows them to withdraw their savings after ten years of having
made them from 2025 onwards. This Royal Decree introduces other minor changes
to the regulation of pension funds and plans in Spain, including:</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:73.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-36.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">reducing fee limits;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:73.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-36.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">making the regulation of investments in closed-end
funds more flexible;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:73.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-36.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">clarification of the net asset value reference date
used to determine the value of payments;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:73.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-36.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">eliminating restrictions on delegation and
related-party transactions; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:73.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-36.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">modifying time limits for the receipt of vested
rights, order of priority for garnishment orders, reporting regime for
participants and the schedule for adapting documentation for pension plans.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Draft Law implementing Directive (EU) 2016/2341 of the
European Parliament and of the Council of December 14, 2016 on the activities
and supervision of institutions for occupational retirement provisions. Based
on its current draft, this Law will (i)&#160; clarify the access cross-border
pension plans activities, (ii) articulate a governance system to protect
investors, (iii) adapt the Spanish legislation to the Directive and (iv) regulate
the terms and scope of the prudential supervision to be carried out by the
competent authority and the exchange of information with other competent
authorities.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Law 11/2018 of December 28 modifying the Code of
Commerce, Royal Decree-Law 1/2010 of July 2 and Law 22/2015 of July 20 in
relation to non-financial information and diversity include the following
amendments to Law 35/2003 on Collective Investment Schemes: (i) recognition of
electronic communication with clients, and only requiring communication in
paper when requested by a participant, (ii) extension of omnibus accounts to
participants and preexistent positions, equalizing the distribution of national
and foreign ICCs and (iii) inclusion of the sanctions system from UCITS
(Undertakings for Collective Investments in Transferable Securities) V and
reducing the penalties for serious and very serious infringements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Royal Decree-Law 19/2018 of November 23 on payment
services and other urgent financial measures, also introduced a sanctions
system for money market funds, modified the Stock Market Law to include some
provisions applicable to asset management companies and introduced several
European regulations into Spanish law (including regulations related to
Benchmarks, MAR, PRIIPS and transparency in securities financing transactions).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Commission Delegated Regulation (EU) 2018/1619 of July
12, 2018 amending Delegated Regulation (EU) 2016/438 regarding the safe-keeping
duties of depositaries.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.45pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Draft Directive and Regulation (EU) regarding the
cross-border distribution of collective investment funds (UCITS, FIA, FECR and
FESE) with the aim of reducing regulatory barriers for the cross-border
distribution of funds, in relation to the European capital markets union.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish Corporate Enterprises Act</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The consolidated
text of the Corporate Enterprises Act adopted under Legislative Royal Decree
1/2010, of July 2, repealed the former Companies Act, adopted under Legislative
Royal Decree 1564/1989, of December 22. This royal legislative decree has
consolidated the legislation for public limited companies (</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">sociedades
an&#243;nima</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">s) and limited liability companies (</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">sociedades de responsabilidad
limitada</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) in a single text, bringing together the contents of the two
aforementioned acts, as well as a part of the Securities Exchange Act.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This law defines
certain rights of shareholders, regulates the transfer of shares and
establishes corporate governance obligations, among other matters.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish Auditing Law</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 22/2015, of July 20, on
Auditing, adapted Spain&#8217;s internal legislation to the changes incorporated in
Directive 2014/56/EU of the European Parliament and of the Council, of April
16, amending Directive 2006/43/EC of the European Parliament and of the Council
of May 17, on statutory audits of annual accounts and consolidated accounts, to
the extent that they were inconsistent. Together with this Directive, approval
was also given to Regulation (EU) 537/2014 of the European Parliament and of
the Council, of April 16, on specific requirements regarding statutory audit of
public-interest entities. Such Directive and Regulation constitute the
fundamental legal regime that should govern audit activity in the European
Union. Law 22/2015 regulates general aspects of access to audit practice and
the requirements to be followed in that practice, from objectivity and
independence, to the organization of auditors and performance of their work, as
well as the regime for their oversight and the sanctions available to ensure
the efficacy of the regulations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 11/2015 of June 18, on the recovery and
resolution of credit institutions and investment firms</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 11/2015
transposes a very important part of EU Law into Spanish law in respect of the
recovery and resolution mechanisms for credit institutions and investment firms
(the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">institutions</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). It further assumes many of the provisions of Law
9/2012 of November 14, 2012 on the restructuring and resolution of credit
institutions, which it partially repeals.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The regime set in
place constitutes a special and full administrative procedure that seeks to
ensure maximum speed in the intervention of an institution so as to provide for
the continuity of its core functions, while minimizing the impact of its
non-viability on the economic system and on public resources.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Compared to Law
9/2012, Law 11/2015 regulates internal recapitalization as a resolution
instrument conceived as a &#8220;bail-in&#8221; arrangement (the absorption of losses by
the shareholders and by the creditors of an institution under resolution).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Internal
recapitalization is a new resolution instrument, since the loss-absorption
mechanism makes it extensive to all the institution&#8217;s creditors, and not only
to the shareholders and the subordinated creditors as envisaged under Law
9/2012 of November 14, 2012.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In this respect,
liabilities eligible for bail-in are all the institution&#8217;s liabilities that are
not expressly excluded or have not been excluded further to a decision by the
FROB. These liabilities shall be susceptible to amortization or conversion into
capital for the internal recapitalization of the institution concerned. Among
the liabilities excluded are deposits guaranteed by the Deposit Guarantee Fund
(up to &#8364;100,000) and liabilities incurred with employees, trade creditors and
the tax or social security authorities.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Certain changes were
made to the regime applicable in the event of the insolvency of an institution,
in order to provide greater protection to the deposits of individuals and SMEs.
In this respect, the following shall be considered as privileged credits: (i)
deposits guaranteed by the Deposit Guarantee Fund (maximum of &#8364;100,000) and the
rights to which they may have been subrogated should the guarantee have been
made effective and (ii) the portion of the deposits of individuals and SMEs
that exceeds the guaranteed level, and those deposits of those individuals and
SMEs that would be guaranteed had they not been set up in branches located
outside the EU.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For additional
information on Law 11/2015, see &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 3. Key Information&#8213;Risk
Factors&#8213;Legal, Regulatory and Compliance Risks&#8213;Bail-in and
write-down powers under the BRRD and the SRM Regulation may adversely affect
our business and the value of any securities we may issue</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In December 2017,
Directive 2014/59/EU was amended&nbsp;by Directive 2017/2399/EU as regards the
ranking of unsecured debt instruments in insolvency proceedings. In particular,
this directive requires member states to create a new class of senior
non-preferred debt that will rank in insolvency proceedings above own-funds
instruments and subordinated liabilities that do not qualify as own-funds
instruments, but below other senior liabilities (being senior preferred
liabilities). This Directive has been implemented in Spain by Law 11/2015.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree
1012/2015 of November 6, on development of Law on recovery and resolution of
credit entities and investment firms and modification of Royal Decree on
deposit guarantee funds of credit entities</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree
1012/2015 partially transposes the BRRD and develops Law 11/2015 (described
above).</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:13.5pt;"> &nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree 1012/2015 includes a package of
measures aimed at: (i) establishing the criteria for the application of the
regulation for the resolution of credit entities, (ii) establishing the content
of the recovery and resolution plans for credit entities, (iii) regulating the
use of the resolution instruments set in Law 11/2015, and in particular, the
actions to be carried out by the FROB, (iv) establishing the regime applicable
to the FROB in connection with the managing of the funds addressed to finance
the resolution procedures and to the contributions that credit entities must
make to the National Resolution Fund and, (v) establishing the regime applicable
to the resolution of cross border entities.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 5/2015 of April 27, on promoting corporate
financing</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Among other matters,
Law 5/2015 establishes a number of changes to encourage bank financing to SMEs,
sets out the new legal framework for financial credit entities and regulates
crowd funding. Law 5/2015 has also introduced amendments on other matters,
including securitizations and debt issuance. It consolidates into one piece of
legislation what has, until now, been a dispersed legal framework on
securitization.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 5/2015 imposes
an obligation on credit institutions to provide SMEs at least three months
prior notice in the event the funding flow to an SME is to be cancelled or
reduced by at least 35%. In so doing, the law aims to provide SMEs sufficient
time to find new funding sources or to adjust the management of their own funds
to avoid sudden liquidity deficiencies.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The main novelties
of this new regime are the following: (i) private limited liability companies (</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">sociedades
limitadas</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;or S.L.s) can issue and guarantee standard debt securities
issuances capped at twice their own funds, (ii) the quantitative limit on debt
issuances by non-listed public limited liability companies (</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">sociedades
an&#243;nimas</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;or S.A.s) is removed, (iii) the management body of an issuer
is authorized to approve standard debt securities issuances which do not yield
part of the profits, unless stated otherwise in the issuer&#8217;s articles of
association and (iv) it is clarified that it is unnecessary to appoint a
commissioner and set up a syndicate of bondholders in debt issuances governed
by foreign law and aimed at international markets.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Prevention of Money Laundering and Terrorist
Financing</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 10/2010 of April
28, has the purpose of safeguarding the integrity of the financial system and
other economic sectors by establishing obligations in respect of preventing
money laundering and terrorist financing. Credit institutions are subject to
this law, which establishes applicable due diligence, internal controls and
reporting obligations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal
Decree-Law 11/2018, of August 31, amended Law 10/2010 by establishing
additional obligations for the purpose of preventing money laundering and
terrorist financing, as well as modifying the sanctions regime and
establishment of complaint channels. This law implemented Directive 2015/849 of
May 20, 2015 on the prevention of the use of the financial system for the
purposes of money laundering or terrorist financing.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Data Protection Regulation</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regulation (EU)
2016/679 of the European Parliament and of the Council of April 27, 2016 on the
protection of natural persons with regard to the processing of personal data
and on the free movement of such data (General Data Protection Regulation or </font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;GDPR&#8221;</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)
aims to achieve effective protection of personal data, provide natural persons
in all member&nbsp;states with the same level of legally enforceable rights and
obligations regarding personal data, and imposes responsibilities on data
controllers and processors to ensure consistent monitoring of the processing of
personal data.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Organic Law 3/2018
of December 5 on the protection of personal data and guarantee of digital
rights implemented the GDPR into law in Spain.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Markets in
Financial Instruments (MiFID II)</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree-Law
14/2018, of September 28, modifies the Stock Markets Law to partially implement
Directive 2014/65 relating to the markets of financial instruments (</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;MiFID
II&#8221;</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">), which process began under Royal Decree-Law 21/2017. This Royal
Decree-Law aims to improve the soundness, transparency and regulation of the
Spanish financial market&#8217;s trading activities, increase investor protection and
harmonize Spanish financial markets regulations with those of other member
states.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">PRIIPs</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regulation (EU)
1286/2014 (The Packaged Retail and Insurance-Based Investment Products (</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;PRIIPs&#8221;</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)
Regulation) was adopted on December 29, 2014 and came into force on January 1,
2018. The PRIIPs Regulation requires product manufacturers to create and
maintain key information documents (</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;KIDs&#8221;</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) and persons advising or
selling PRIIPs to provide retail investors based in the European Economic Area
(</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;EEA&#8221;</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) with KIDs to enable investors to better understand and compare
products.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A PRIIP is defined
as any investment where the amount repayable to the investor is subject to
fluctuations because of exposure to reference values. In addition to insurance
products, some examples of PRIIPs are options, futures, CFDs and structured
products.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The main objectives
of the PRIIPs Regulation are to: (i) ensure understanding and comparability
between similar products in order to help the investors make investment
decisions, (ii) improve transparency and increase confidence in the retail
investment market and (iii) promote a single European insurance market.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EMIR</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The European
Commission has proposed various amendments to the European Market
Infrastructure Regulation (&#8220;EMIR&#8221;), as part of its Regulatory Fitness and
Performance Program. Some of those changes may affect the definition of
non-financial counterparties and clearing obligations (including the
elimination of the frontloading requirement, the introduction of an exemption
for small financial counterparties from their clearing obligations and certain
changes to reporting obligations). The proposed changes are not expected to
significantly affect BBVA&#8217;s operations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EPSV</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On December 29, 2017,
the Finance Direction of the Basque Government issued Instruction 1/2017
modifying obligations for certain types of pension funds (</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">entidades de
previsi&#243;n social voluntaria</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">). It establishes rules on corporate governance
and deposits of these entities.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">U.S. Regulation</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA is a bank holding company within the meaning of the
U.S. Bank Holding Company Act of 1956, as amended (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BHC Act</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). As
such, BBVA is subject to the regulation and supervision of the Board of
Governors of the Federal Reserve System (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Federal Reserve</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). BBVA
has also elected to become a financial holding company. BBVA&#8217;s New York branch
is supervised by the Federal Reserve through the Federal Reserve Bank of New
York, as well as licensed and supervised by the New York State Department of
Financial Services. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Compass,
including its main bank subsidiary Compass Bank, is</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> regulated extensively under U.S. federal and state law. In
addition, certain of BBVA Compass&#8217; non-bank subsidiaries are subject to
regulation under U.S. federal and state law.</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The legislative,
regulatory and supervisory framework in the United States governing the
financial services sector has undergone significant change since the financial
crisis and the passage of the D</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">odd-Frank Wall
Street Reform and Consumer Protection Act of 2010 (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Dodd-Frank Act</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. Moreover, the intensity of supervisory and
regulatory scrutiny has also increased.&#160; In response President Donald J. Trump
issued an executive order that sets forth principles for the reform of the
federal financial regulatory framework, and there have been several statutory
and regulatory initiatives aimed at providing relief for the financial services
industry. In May 2018 the United States Congress passed, and President Trump
signed into law, the Economic Growth Regulatory Relief and Consumer Protection
Act (&#8220;</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EGRRCPA</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). Under EGRRCPA, bank holding companies with
less than $100 billion in total consolidated assets are exempt from certain
enhanced prudential standards, while bank holding companies with $100 billion
or more but less than $250 billion in total consolidated assets will become
exempt from certain enhanced prudential standards in November 2019 unless the
Federal Reserve determines that particular enhanced prudential standards should
apply. EGRRCPA made clear that the Federal Reserve retained the right to apply
enhanced prudential standards to foreign banking organizations with greater
than $100 billion in global total consolidated assets, such as BBVA.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In October 2018 the Federal Reserve and other
U.S. banking agencies issued proposed rules to adjust, consistent with EGRRCPA,
the thresholds at which certain enhanced prudential standards and other capital
and liquidity standards apply to U.S. banking organizations with $100 billion
or more in total consolidated assets. The proposed rules would not apply to
foreign banking organizations, such as BBVA, or the separately capitalized
top-tier U.S. intermediate holding company (&#8220;</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IHC</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) of foreign
banking organizations, such as BBVA Compass Bancshares, Inc. The Federal
Reserve indicated that it intends to develop a separate proposal that would
implement EGRRCPA for foreign banking organizations. It is not clear whether,
and to what extent, BBVA and BBVA Compass would be eligible for regulatory
relief under the forthcoming proposal. For the time being, the enhanced
prudential standards that applied to BBVA and BBVA Compass Bancshares, Inc.
prior to the passage of</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EGRRCPA remain in effect. BBVA Compass expects
few statutory changes to the financial regulatory framework during the current
Congress and continues to expect that its business will remain subject to
extensive regulation and supervision.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial
Regulatory Authorities</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Owing to its status as a bank holding company, BBVA&#8217;s direct and indirect
activities and investments in the United States are limited to banking
activities and certain non-banking activities that are &#8220;closely related to
banking,&#8221; as determined by the Federal Reserve, and certain other activities
permitted under the BHC Act. BBVA also is required to obtain the prior approval
of the Federal Reserve before acquiring, directly or indirectly, the ownership
or control of more than 5% of any class of voting securities of any U.S. bank
or bank holding company. A bank holding company is required to act as a source
of financial strength for its U.S. bank subsidiaries. Among other things, this
source of strength obligation may result in a requirement for BBVA, as
controlling shareholder, to inject capital into its U.S. bank subsidiary.
BBVA&#8217;s U.S. branches and agencies are also subject to additional liquidity
requirements, and in certain cases the entirety of BBVA&#8217;s U.S. operations are
subject to additional risk management requirements. In addition, BBVA is
subject to requirements related to the adequacy and reporting of its home
country capital and stress testing standards.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Federal Reserve&#8217;s Regulation YY requires foreign banking
organizations with $50 billion or more in U.S. assets held outside of their
U.S. branches and agencies to create an IHC. BBVA Compass Bancshares, Inc. is
our designated IHC and holds all of BBVA&#8217;s U.S. bank and nonbank subsidiaries,
including BBVA&#8217;s U.S. bank subsidiary, Compass Bank. BBVA Compass Bancshares,
Inc. is a bank holding company within the meaning of the BHC Act, has elected
to become a financial holding company, and is subject to supervision and
regulation by the Federal Reserve through the Federal Reserve Bank of Atlanta.&#160;
BBVA Compass Bancshares, Inc.&#160; is subject to U.S. risk-based and leverage
capital requirements, liquidity requirements, capital planning and stress
testing requirements, risk management requirements, single counterparty credit
limits and other enhanced prudential standards on a consolidated basis. As a
bank holding company, it must also act as a source of strength to its bank
subsidiaries. BBVA Compass Bancshares, Inc. is also subject to the Alabama
State Banking Department&#8217;s requirements for bank holding companies that hold
Alabama state-chartered banks, like Compass Bank, under the bank holding
company laws of the State of Alabama. BBVA Compass Bancshares, Inc. is also
subject to supervision and regulation by the Consumer Financial Protection
Bureau (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CFPB</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Compass Bank is subject to supervision and regulation by a
variety of U.S. regulatory agencies. Compass Bank is an Alabama state-chartered
bank, is a member of the Federal Reserve System, and has branches in Alabama,
Arizona, California, Colorado, Florida, New Mexico, and Texas. Compass Bank is
supervised and examined by the Federal Reserve, the Alabama State Banking
Department and, with respect to consumer financial laws and regulations, the
CFPB. In addition, certain aspects of Compass Bank&#8217;s branch operations in
Arizona, California, Colorado, Florida, New Mexico, and Texas are subject to
examination by the respective state banking regulators in such states. Compass
Bank is a depository institution insured by, and subject to the regulation of,
the Federal Deposit Insurance Corporation (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">FDIC</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Bancomer, S.A.&#8217;s agency office in Houston, Texas is a non-FDIC
insured agency office of BBVA Bancomer, S.A., an indirect subsidiary of BBVA,
which is licensed under the laws of the State of Texas and supervised by the
Texas Department of Banking and the Federal Reserve.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Bancomer Transfer Services, Inc., a non-banking affiliate of BBVA and a
direct subsidiary of BBVA Bancomer USA, Inc., is licensed as a money transmitter
by the State of California Department of Business Oversight, the Texas
Department of Banking, and certain other state regulatory agencies. Bancomer
Transfer Services, Inc. is also registered as a money services business with
the Financial Crimes Enforcement Network of the U.S. Department of the
Treasury.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA&#8217;s indirect U.S. broker-dealer subsidiary, BBVA Securities Inc. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BSI</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;),
is subject to regulation and supervision by the Securities and Exchange
Commission (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SEC</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and the Financial Industry Regulatory Authority (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">FINRA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
with respect to its securities activities, as well as various U.S. state
regulatory authorities. Additionally, the securities underwriting and dealing
activities of BSI are subject to regulation and supervision by the Federal
Reserve.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The activities of BBVA&#8217;s U.S. investment adviser affiliates are regulated
and supervised by the SEC. In addition, Compass Bank has registered with the
SEC and the Municipal Securities Rulemaking Board as a municipal advisor
pursuant to the Dodd-Frank Act&#8217;s municipal advisor registration requirements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA&#8217;s U.S. insurance agency affiliate is subject to regulation and
supervision by various U.S. state insurance regulatory authorities.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA is provisionally registered as a &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">swap dealer</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; as defined in
the Commodity Exchange Act and the regulations promulgated thereunder with the
U.S. Commodity Futures Trading Commission (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CFTC</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), which subjects
BBVA to regulation and supervision by the CFTC. BBVA&#8217;s world-wide swap
activities are also subject to regulations adopted by the European Commission
pursuant to the European Market Infrastructure Regulation (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EMIR</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and
the EU&#8217;s Markets in Financial Instruments Directive (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MiFID</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and other
European regulations and directives. Compass Bank (and other entities of the
BBVA Group) may register as a swap dealer if required by its swap activities or
if it is determined to be beneficial to its business.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA is currently assessing whether it will be required to register as a
security-based swap dealer with the SEC, once such registration requirement
comes into effect.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Enhanced
Prudential Standards</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the past few years, The Federal Reserve has imposed greater risk-based
and leverage capital requirements, liquidity requirements, capital planning and
stress testing requirements, risk management requirements, single counterparty
credit limits and other enhanced prudential standards for bank holding
companies with $50 billion or more in total consolidated assets, which includes
BBVA Compass.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under the enhanced prudential standard regulations applicable to foreign
banking organizations with $50 billion or more in U.S. assets held outside of
their U.S. branches and agencies, BBVA designated BBVA Compass Bancshares, Inc.
as its IHC. BBVA&#8217;s combined U.S. operations are also subject to U.S. risk-based
and leverage capital requirements, liquidity requirements, capital planning and
stress testing requirements, risk management requirements, and other enhanced
prudential standards on a consolidated basis. BBVA&#8217;s U.S. branches and agencies
(and in certain cases, the entire U.S. operations of BBVA) are also subject to
liquidity buffer and risk management requirements. In addition, BBVA is subject
to requirements related to the adequacy and reporting of its home country
capital and stress testing standards.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As noted in the &#8220;U.S. Regulation&#8221; section above, following
the passage of EGRRCPA the federal banking agencies have begun to propose rules
recalibrating the application of enhanced prudential standards to banking
organizations with $100 billion or more in total consolidated assets. The
Federal Reserve&#8217;s current proposals would not apply to foreign banking
organizations, such as BBVA, or the U.S. IHCs of </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">foreign banking organization</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">s, such as
BBVA Compass Bancshares, Inc. and it is currently unclear how foreign banking
organizations or the U.S. IHCs of foreign banking organizations will be treated
under forthcoming proposed rules. Enhanced prudential standards that applied to
BBVA or BBVA Compass Bancshares, Inc. prior to the passage of EGRRCPA remain in
effect for the time being.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Capital</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Compass Bancshares, Inc. and Compass Bank are subject to the U.S.
Basel III capital rule (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">U.S. Basel III</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), which is based on the Basel
III regulatory capital standards established by the Basel Committee. Certain
aspects of U.S. Basel III, such as the minimum capital ratios and the
methodology for calculating risk-weighted assets, became effective on January
1, 2015 for BBVA Compass Bancshares, Inc. and Compass Bank. The minimum
regulatory capital ratios under U.S. Basel III for bank holding companies are
the following: Common Equity Tier 1 risk-based capital ratio of 4.5%; Tier 1
risk-based capital ratio of 6.0%; Total risk-based capital ratio of 8.0%; and
Tier 1 leverage ratio of 4.0%.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other aspects of the rule, such as the capital conservation buffer and
certain regulatory deductions from and adjustments to capital were phased-in
over several years while still others, such as the treatment of certain
non-qualifying capital instruments, continue to be phased-in through 2021. As
of January 1, 2019, BBVA Compass must maintain a capital conservation buffer of
greater than 2.5% to avoid being subject to limitations on its ability to make
capital distributions and certain discretionary bonus payments. The Federal
Reserve has proposed replacing this 2.5% capital conservation buffer
requirement with a dynamic stress capital buffer, as discussed below under
&#8220;Proposed Stress Buffer Requirements&#8221;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">U.S. Basel III also revised the capital thresholds for the prompt
corrective action framework for insured depository institutions. Under the
prompt corrective action framework, U.S. federal banking regulators rate
insured depository institutions on the basis of five capital categories: &#8220;well
capitalized&#8221; (the highest rating), &#8220;adequately capitalized,&#8221;
&#8220;undercapitalized,&#8221; &#8220;significantly undercapitalized,&#8221; and &#8220;critically
undercapitalized&#8221; (the lowest rating). </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
federal banking regulators are required to take mandatory supervisory actions,
and are authorized to take other discretionary actions, with respect to insured
depository institutions in the three undercapitalized categories. The severity
of those actions would depend upon the capital category to which the insured
depository institution is assigned.</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> To qualify
as &#8220;well capitalized,&#8221; Compass Bank must maintain a Common Equity Tier 1
risk-based capital ratio of at least 6.5%, a Tier 1 risk-based capital ratio of
at least 8.0%, a Total risk-based capital ratio of at least 10.0%, and a Tier 1
leverage ratio of at least 5.0%, and not be subject to any order or written
directive to meet and maintain a specific capital level for any capital
measure.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Federal Reserve has not yet revised the well-capitalized standard for
bank holding companies to reflect the higher capital requirements imposed under
the U.S. Basel III capital rule. For purposes of the Federal Reserve&#8217;s
Regulation Y, including determining whether a bank holding company meets the
requirements to be a financial holding company, bank holding companies, such as
BBVA Compass Bancshares, Inc., must maintain a Tier 1 Risk-Based Capital Ratio
of 6 percent or greater and a Total Risk-Based Capital Ratio of 10 percent or
greater to be well-capitalized.&#160; If the Federal Reserve were to apply the same
or a very similar well-capitalized standard to bank holding companies as that
applicable to Compass Bank, BBVA Compass Bancshares Inc.&#8217;s capital ratios as of
December 31, 2017 would exceed such revised well-capitalized standard.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Total Loss-Absorbing Capital
and Long-Term Debt Requirements</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Federal Reserve&#8217;s final rule on the TLAC of U.S. G-SIBs
and the IHCs of non-U.S. G-SIBs does not apply since neither the BBVA Compass
nor BBVA are G-SIBs and are therefore not subject to the rule.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Single Counterparty Credit
Limits</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In June 2018, the Federal Reserve issued a final rule
implementing single counterparty credit limits applicable to the U.S.
operations of major foreign banking organizations, such as BBVA, and to the
consolidated operations of certain large U.S. IHCs of foreign banking
organizations, such as BBVA Compass. The rule will impose percentage
limitations on net credit exposures to individual counterparties (aggregated
based on affiliation), generally as a percentage of tier 1 capital. These
requirements will become effective in January 2020 for Compass Bank and in July
2020 for BBVA Compass, and could adversely affect the financial position of
BBVA&#8217;s U.S. operations.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Periodic
Capital Plans and Stress Testing</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under enhanced prudential standards currently applicable to U.S. IHCs
with $50 billion or more of total consolidated assets, BBVA Compass is required
to submit periodic capital plans to the Federal Reserve and generally may pay
dividends and make other capital distributions only in accordance with a
capital plan as to which the Federal Reserve has not objected. Under the
Federal Reserve&#8217;s Comprehensive Capital Analysis and Review (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CCAR</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
process, BBVA Compass&#8217; capital plan must include an assessment of the expected
uses and sources of capital over a forward-looking planning horizon of at least
nine quarters, a detailed description of BBVA Compass&#8217; process for assessing
capital adequacy, BBVA Compass&#8217; capital policy, and a discussion of any
expected changes to BBVA Compass&#8217; business plan that are likely to have a material
impact on its capital adequacy or liquidity. Based on a quantitative
assessment, including a supervisory stress test conducted as part of the CCAR
process, the Federal Reserve will either object to BBVA Compass&#8217; capital plan,
in whole or in part, or provide a notice of non-objection to BBVA Compass. If
the Federal Reserve objects to a capital plan, BBVA Compass may not make any
capital distribution other than those with respect to which the Federal Reserve
has indicated its non-objection.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under revised CCAR rules that became effective on March 6, 2017, the
Federal Reserve is no longer allowed to object to the capital plans of large
and noncomplex bank holding companies, including BBVA Compass, on a
qualitative, as opposed to quantitative, basis. Instead, the Federal Reserve
may evaluate the strength of BBVA Compass&#8217; qualitative capital planning process
through the regular supervisory process and targeted horizontal reviews of
particular aspects of capital planning.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition to capital planning requirements BBVA Compass and Compass
Bank are subject to stress testing requirements under the Federal Reserve&#8217;s
enhanced prudential standards rule and the Dodd-Frank Act. BBVA Compass must
conduct periodic company-run stress tests and is subject to a periodic supervisory
stress test conducted by the Federal Reserve.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For the capital plan and stress test cycle that began January 1, 2018,
BBVA Compass submitted its capital plan to the Federal Reserve in April 2018
and the Federal Reserve published summary results on June 28, 2018. The Federal
Reserve did not object to BBVA Compass&#8217; 2018 capital plan. On February 5, 2019,
the Federal Reserve announced that certain less-complex U.S. bank holding
companies and U.S. IHCs with less than $250 billion in total consolidated
assets, including BBVA Compass, would not be subject to supervisory stress
testing, company-run stress testing or the CCAR process for the 2019 capital
plan and stress test cycle. Although management believes that capital plans
that BBVA Compass plans to submit will be reasonable and fiscally sound, BBVA
Compass can make no assurances that the Federal Reserve will not object to BBVA
Compass&#8217; capital plans.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Proposed Stress Buffer
Requirements</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On April 10, 2018, the Federal Reserve issued a proposal to
integrate its capital planning and stress testing requirements with certain
ongoing regulatory capital requirements. The proposal, which would apply to the
consolidated operations of U.S. IHCs, including BBVA Compass, would introduce a
stress capital buffer and a stress leverage buffer, or stress buffer
requirements, and related changes to the capital planning and stress testing
processes. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For risk-based capital requirements, the stress capital
buffer would replace the existing capital conservation buffer, which is now
2.5%. The stress capital buffer would equal the greater of (i) the maximum
decline in our Common Equity Tier 1 Risk-Based Capital Ratio under the severely
adverse scenario over the supervisory stress test measurement period, plus the
sum of the ratios of the dollar amount of our planned common stock dividends to
our projected risk-weighted assets for each of the fourth through seventh
quarters of the supervisory stress test projection period, and (ii) 2.5%.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Like the stress capital buffer, the stress leverage buffer
would be calculated based on the results of our most recent supervisory stress
tests. The stress leverage buffer would equal the maximum decline in our Tier 1
leverage ratio under the severely adverse scenario, plus the sum of the ratios of
the dollar amount of our planned common stock dividends to our projected
leverage ratio denominator for each of the fourth through seventh quarters of
the supervisory stress test projection period. No floor would be established
for the stress leverage buffer, which would apply in addition to the current
minimum Tier 1 leverage ratio of 4%.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The proposal would make related changes to capital planning and stress
testing processes for the consolidated operations of U.S. IHCs subject to the
stress buffer requirements. In particular, the proposal would limit projected
capital actions to planned common stock dividends in the fourth through seventh
quarters of the supervisory stress test projection period and would assume that
the consolidated operations of IHCs maintain a constant level of assets and
risk-weighted assets throughout the supervisory stress test projection period.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In November 2018, the Federal Reserve&#8217;s Vice Chairman for Supervision
stated that the Federal Reserve does not expect that the proposed stress buffer
requirements will go into effect before 2020, and that, while the Federal
Reserve expects to finalize certain elements of those requirements as proposed,
other elements of the proposal will be re-proposed and again subject to public
comment.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Liquidity</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Federal Reserve and other federal banking regulators have issued
liquidity coverage ratio (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">LCR</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) requirements, which are based on the
Basel Committee&#8217;s LCR standard and are designed to ensure that covered banking
organizations have sufficient high-quality liquid assets to cover expected net
cash outflows over a 30-day liquidity stress period. This standard&#8217;s objective
is to promote the short-term resilience of the liquidity risk profile of
banking organizations. As a consolidated U.S. bank holding company with total
assets of $50 billion or more that is not an advanced approaches bank holding
company, BBVA Compass is subject to a modified version of the LCR, pursuant to
which, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">as of January 1, 2017, BBVA Compass has
been required to maintain a minimum of 100% of the fully phased-in modified
LCR. In addition, as of October 1, 2018, BBVA Compass is required to disclose
certain quantitative and qualitative information related to its LCR calculation
after each calendar quarter. Required disclosures include disclosure of the
consolidated LCR, based on averages over the prior quarter, as well as
consolidated HQLA amounts broken down by each HQLA category.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under the federal banking agency proposals implementing EGRRCPA for U.S.
banking organizations, BBVA Compass would no longer be subject to the LCR.
Although these proposals are not yet final, the Federal Reserve has stated that
it will not take action to require bank holding companies with less than $100
billion in total consolidated assets, including BBVA Compass, to comply with
certain existing regulatory requirements, including the LCR requirements. It is
unclear how the anticipated proposal implementing EGRRCPA for foreign banking
organizations and U.S. IHCs of foreign banking organizations would affect the
applicability of the LCR for BBVA Compass.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In April 2016, the Federal Reserve and other federal banking regulators
proposed a rule to implement a net stable funding ratio (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">NSFR</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), which
is based on additional quantitative liquidity standards developed by the Basel
Committee and is designed to ensure that an institution maintains sufficiently
stable funding over a one-year time horizon. The proposal includes a modified,
less stringent version of the NSFR that would apply to consolidated U.S. bank holding
companies with total assets of $50 billion or more that are not advanced
approaches bank holding companies, such as BBVA Compass.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Resolution
Planning</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under Title I of the Dodd-Frank Act and implementing regulations issued
by the Federal Reserve and the FDIC, BBVA must prepare and submit annually a
plan for the orderly resolution of its U.S. subsidiaries and U.S. operations in
the event of future material financial distress or failure (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Title I
Resolution Plan</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). For foreign-based companies subject to these resolution
planning requirements, such as BBVA, the Title I Resolution Plan relates to
subsidiaries, branches, agencies and businesses that are domiciled in, or whose
activities are carried out in whole or in material part in, the United States.
BBVA filed its most recent Title I Resolution Plan in December 2018. In
addition, Compass Bank is subject to the FDIC rule requiring insured depository
institutions with total assets of $50 billion or more to submit periodically to
the FDIC a plan for resolution in the event of failure under the Federal
Deposit Insurance Act. Compass Bank&#8217;s most recent plan under the FDIC rule was
submitted on July 1, 2018.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The deadline for the BBVA&#8217;s next Title I Resolution Plan
submission is currently unclear, as senior representatives from the Federal
Reserve and FDIC have recently indicated that the annual submission requirement
may be relaxed under a forthcoming revised 165(d) rule. FDIC Chairman Jelena
McWilliams has indicated that no firm will be required to submit another FDIC
rule plan until the FDIC issues a revised FDIC rule.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Volcker
Rule</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Volcker Rule prohibits an insured depository institution, such as
Compass Bank, and its affiliates from (1)&nbsp;engaging in &#8220;proprietary
trading&#8221; and (2)&nbsp;investing in or sponsoring certain types of funds
(covered funds) subject to certain limited exceptions. The final rules contain
exemptions for market-making, hedging, underwriting, trading in U.S. government
and agency obligations, and permit certain ownership interests in certain types
of funds to be retained. They also permit the offering and sponsoring of funds
under certain conditions. In the case of non-U.S. banking entities, such as
BBVA, there is also an exemption permitting activities conducted solely outside
of the United States, provided that certain criteria are satisfied.&nbsp;The
final Volcker Rule regulations impose significant compliance and reporting
obligations on banking entities.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In May 2018, the five regulatory agencies charged with implementing the
Volcker Rule released proposed amendments to the current Volcker Rule
regulations. The proposal would tailor the Volcker Rule&#8217;s compliance
requirements to the amount of a firm&#8217;s trading activity, revise the definition
of a trading account, clarify certain key provisions in the Volcker Rule, and
simplify the information that covered entities are required to provide to
regulatory agencies. If adopted, the proposed changes regarding the definition
of trading account would likely expand the scope of investing and trading activities
subject to the Volcker Rule&#8217;s restrictions. BBVA Compass is of the view that
the impact of the Volcker Rule or proposed amendments to the Volcker Rule is
not material to its business operations.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Derivatives</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Title VII of the Dodd-Frank Act amended the Commodity Exchange Act and
the Securities Exchange Act of 1934 to establish a comprehensive framework for
the regulation of over-the-counter (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">OTC</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) derivatives by the CFTC and
the SEC, including by imposing mandatory clearing, exchange trading and transaction
reporting requirements on such derivatives.&#160; In addition, Title VII required
the CFTC and SEC to adopt rules regarding the registration of certain entities
that deal or are major market participants in certain OTC derivatives, as well
as rules imposing capital, margin, business conduct, record keeping and other
requirements on such entities. While the CFTC has completed the majority of its
regulations in this area, most of which are in effect, the SEC has not yet
adopted a number of its Title VII regulations. In December 2016, the CFTC
reproposed regulations to impose position limits on certain futures and option
contracts in specified energy, metal and agricultural commodities and for
economically equivalent swaps.&#160; This proposal has not yet been finalized. In
addition, the Federal Reserve, FDIC, Office of the Comptroller of the Currency,
the Farm Credit Administration and the Federal Housing Finance Agency adopted
final rules establishing initial and variation margin requirements for
non-cleared swaps and security-based swaps between certain entities, while the
CFTC adopted final rules establishing initial and variation margin requirements
for non-cleared swaps between certain entities. All swap dealers must currently
comply with the variation margin requirements (to the extent applicable to a
particular transaction); however, the initial margin requirements are still
being phased in, generally based on the transactional volume of the parties and
their affiliates.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In general, as a non-U.S. swap dealer, BBVA is not subject to all CFTC
requirements, including certain business conduct standards, when entering into
swaps with non-U.S. counterparties.&#160; In addition, subject to conditions, BBVA
may comply with EU OTC derivatives requirements in lieu of some CFTC
requirements, including portfolio reconciliation, portfolio compression and
trade confirmation requirements, pursuant to substituted compliance
determinations issued by the CFTC.</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Deposit Insurance and Assessments</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Deposits at Compass Bank are insured by the Deposit Insurance Fund (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">DIF</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
as administered by the FDIC, up to the applicable limits established by law.
The DIF is funded through assessments on banks, such as Compass Bank.&#160; Changes
in the methodology used to calculate these assessments resulting from the
Dodd-Frank Act increased the assessments that Compass Bank is required to pay
to the FDIC.&#160; In addition, in March 2016, the FDIC issued a final rule imposing
a surcharge on the assessments of insured depository institutions with total
consolidated assets of $10 billion or more, such as Compass Bank, to raise the
DIF&#8217;s reserve ratio. These surcharges ceased, effective October 1, 2018, as a
result of the FDIC&#8217;s reserve ration exceeding 1.35%.&#160; The FDIC also collects
Financing Corporation deposit assessments, which are calculated off of the
assessment base established by the Dodd-Frank Act. Compass Bank pays the DIF
assessment as well as the Financing Corporation assessments.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Revised
Supervisory Rating System and Corporate Governance Expectations for IHCs</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In November 2018, the Federal Reserve issued a final rule to revise its
supervisory rating system for &#8220;Large Financial Institutions&#8221;, the definition of
which includes, among other entities, IHCs established pursuant to the Federal
Reserve&#8217;s Regulation YY, including BBVA Compass. Under the rule, Large
Financial Institutions will receive separate ratings from the Federal Reserve
for (1) capital planning and positions, (2) liquidity risk management and
positions and (3) governance and controls. Each of these component areas will
receive one of the following four ratings: (i) Broadly Meets Expectations, (ii)
Conditionally Meets Expectations, (iii) Deficient-1, and (iv) Deficient-2. A
covered company will need to maintain a rating of &#8220;Broadly Meets Expectations&#8221;
or &#8220;Conditionally Meets Expectations&#8221; for each of the three components to be
considered &#8220;well managed.&#8221; Existing statutes and regulations provide benefits
to firms considered to be &#8220;well managed,&#8221; such as the ability to engage in
additional permitted activities. BBVA Compass is currently scheduled to receive
its first ratings under the revised rating system in early 2020. Also in August
2017, the Federal Reserve issued proposed guidance intended to enhance the
effectiveness of boards of directors and refocus the Federal Reserve&#8217;s
supervisory expectations for boards of directors on their core
responsibilities, and also to delineate between roles and responsibilities for
boards of directors and for senior management. Although the proposed guidance
would not directly apply to BBVA Compass, the Federal Reserve solicited
comments on how the guidance could be adapted to apply to an IHC, signaling
that BBVA Compass could fall within the scope of a related future proposal.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Transactions
with Affiliates and Insiders</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Dodd-Frank Act broadened the application of Sections 23A and 23B of
Federal Reserve Act, although the Federal Reserve has not yet implemented such
changes in Regulation W (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Reg W</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). Reg W places various qualitative and
quantitative restrictions on BBVA and its non-bank subsidiaries with regard to
borrowing or otherwise obtaining credit from their U.S. banking affiliates or
engaging in certain other transactions involving those subsidiaries. Such
transactions must be on terms that would ordinarily be offered to unaffiliated
entities, must be secured by designated amounts of specified collateral, and
are subject to quantitative limitations. Under the Dodd-Frank Act changes,
credit exposure arising from derivative transactions, securities borrowing and
lending transactions, and repurchase/reverse repurchase agreements are subject
to the collateral and quantitative limitations. The Reg W restrictions also
apply to certain transactions of BBVA&#8217;s New York branch with certain of its
affiliates.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Consumer
Protection Regulations</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The regulations that the CFPB may adopt could affect the nature of the
consumer activities that BBVA Compass Bancshares, Inc., Compass Bank and BBVA&#8217;s
New York branch may conduct, and may impose restrictions and limitations on the
conduct of such activities. The CFPB has promulgated many mortgage-related
rules since it was established under the Dodd-Frank Act, including rules
related to the ability to repay and qualified mortgage standards, mortgage
servicing standards, loan originator compensation standards, high-cost mortgage
requirements, Home Mortgage Disclosure Act requirements and appraisal and
escrow standards for higher-priced mortgages. These rules have created
operational and strategic challenges for Compass Bank, as it is both a mortgage
originator and a servicer.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Durbin Amendment&#8217;s Rules Affecting Debit Card Interchange
Fees</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under the Durbin Amendment to the Dodd-Frank Act, the maximum permissible
interchange fee that an issuer may receive for an electronic debit transaction
is the sum of 21 cents per transaction, a 1 cent fraud prevention adjustment,
and 5 basis points multiplied by the value of the transaction.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Incentive
Compensation Regulations and Other Regulations Applicable to SEC-regulated
Entities</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Dodd-Frank Act requires the SEC to cause issuers with listed
securities, which may include foreign private issuers such as BBVA, to
establish a &#8220;claw back&#8221; policy to recoup previously awarded employee
compensation in the event of an accounting restatement. The SEC proposed rules
in 2015 to implement this provision. In addition, the Dodd-Frank Act requires
U.S. regulatory agencies to prescribe regulations with respect to
incentive-based compensation at financial institutions in order to prevent
inappropriate behavior that could lead to a material financial loss. In 2016,
federal regulators </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">reproposed a rule that
would require, among other things, the deferral of a percentage of certain
incentive-based compensation for senior executives and certain other employees
and, under certain circumstances, clawback of incentive-based compensation.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Dodd-Frank Act also grants the SEC discretionary rule-making
authority to impose a new fiduciary standard on brokers, dealers and investment
advisers, and expands the extraterritorial jurisdiction of U.S. courts over
actions brought by the SEC or the United States with respect to violations of
the antifraud provisions in the Securities Act, the Exchange Act and the
Investment Advisers Act of 1940.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Anti-Money
Laundering; Office of Foreign Assets Control</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A major focus of U.S. governmental policy relating to financial
institutions in recent years has been aimed at fighting money laundering and
terrorist financing. Regulations applicable to BBVA and certain of its
affiliates impose obligations to maintain appropriate policies, procedures, and
controls to detect, prevent, and report money laundering. In particular, the
Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001 (USA PATRIOT Act), as amended, requires financial
institutions operating in the United States to, among other things, (i) give
special attention to </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">correspondent</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and payable-through bank accounts, (ii) implement enhanced
reporting due diligence, and &#8220;know your customer&#8221; standards for private banking
and correspondent banking relationships, (iii) scrutinize the beneficial
ownership and activity of certain non-U.S. and private banking customers
(especially for so-called politically exposed persons), and (iv) develop and
maintain anti-money laundering programs, customer identification procedures,
and due diligence policies and controls to ensure the detection and reporting
of money laundering. Such required compliance programs are intended to
supplement compliance programs with respect to the sanctions programs
administered by the Office of Foreign Assets Control. Failure of a financial
institution to maintain and implement adequate programs to combat money
laundering and terrorist financing could have serious legal and reputational
consequences for the institution.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Cybersecurity</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In October 2016, the federal banking regulators issued an
advance notice of proposed rulemaking regarding enhanced cyber risk management
standards, which would apply to a wide range of large financial institutions
and their third-party service providers, including BBVA Compass and its U.S.
bank subsidiaries. The proposed standards would expand existing cybersecurity
regulations and guidance to focus on cyber risk governance and management;
management of internal and external dependencies; and incident response, cyber
resilience and situational awareness. In addition, the proposal contemplates
more stringent standards for institutions with systems that are critical to the
financial sector.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Cybersecurity is also an area
of increasing state legislative focus. For example, in June of 2018, the
Governor of California signed into law the California Consumer Protection Act
(&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CCPA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). The new law, which becomes effective on January 1, 2020,
applies to for-profit businesses that conduct business in California and meet
certain revenue or data collection thresholds. The CCPA will give consumers the
right to request disclosure of information collected about them, and whether
that information has been sold or shared with others, the right to request
deletion of personal information (subject to certain exceptions), the right to
opt out of the sale of the consumer&#8217;s personal information, and the right not
to be discriminated against for exercising their rights. The CCPA contains
several exemptions, including an exemption applicable to information that is
collected, processed, sold or disclosed pursuant to the Gramm-Leach-Bliley Act
(GLBA) if the GLBA is in conflict with the CCPA. The impact of the CCPA on BBVA
Compass&#8217; business is under review.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Disclosure of Iranian
Activities under Section 13(r) of the Exchange Act</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The BBVA Group discloses the
following information pursuant to Section 13(r) of the Exchange Act, which
requires an issuer to disclose whether it or any of its affiliates knowingly
engaged in certain activities, transactions or dealings relating to Iran or
with natural persons or entities designated by the U.S. government under
specified executive orders, including activities not prohibited by U.S. law and
conducted outside the United States by non-U.S. affiliates in compliance with
local law. In order to comply with this requirement, the Company has requested
relevant information from its affiliates globally.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The BBVA
Group has the following activities, transactions and dealings with Iran
requiring disclosure:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Legacy
contractual obligations related to counter indemnities</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. Before 2007, the BBVA Group issued certain counter
indemnities to its non-Iranian customers in Europe for various business
activities relating to Iran in support of guarantees provided by Bank Melli,
one of which remained outstanding as of January 1, 2018 and was executed on
October 16, 2018, triggering a payment of &#8364;21,427.96</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.
The BBVA Group does not allocate direct costs to fees and commissions and
therefore has not disclosed a separate profit measure</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Iranian embassy-related activity. </font></i></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The BBVA Group maintains bank accounts in Spain
for one employee of the Iranian embassy in Spain. This employee is a Spanish
citizen. Estimated gross revenues for the year ended December 31, 2018, from
embassy-related activity, which include fees and/or commissions, totaled </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8364;</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">1,899.33. The BBVA Group does
not allocate direct costs to fees and commissions and therefore has not
disclosed a separate profit measure</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">C.&#160;&#160; Organizational Structure</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, the BBVA Group was composed of 297
consolidated entities and 66 entities accounted for using the equity method.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The companies comprising the BBVA Group are principally
domiciled in the following countries: Argentina, Belgium, Bolivia, Brazil,
Cayman Islands, Chile, Colombia, France, Germany, Ireland, Italy, Luxembourg,
Mexico, Netherlands, Peru, Poland, Portugal, Spain, Switzerland, Turkey, United
Kingdom, United States of America, Uruguay and Venezuela. In addition, BBVA has
an active presence in Asia.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Below is a simplified organizational chart of BBVA&#8217;s most
significant subsidiaries as of December 31, 2018.
</font></font></p>


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<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:27.0pt;">
  <td nowrap width=45% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Subsidiary</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Country of Incorporation</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Activity</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">BBVA Voting Power</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">BBVA Ownership</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Total Assets (1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap valign=bottom width=45% style="border:none;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=20% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&#160;&#160;&#160;&#160; (in Percentages)</font></b></font></p>
  </td>
 <td width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td width=45% style="background:white;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">BBVA BANCOMER</font></font></p>
  </td>
 <td width=15% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td width=9% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Bank</font></font></p>
  </td>
 <td width=9% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&#160;85,624&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">COMPASS BANK</font></font></p>
  </td>
 <td width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">The United States</font></font></p>
  </td>
 <td width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Bank</font></font></p>
  </td>
 <td width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&#160;68,737&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=45% style="background:white;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">GARANTI</font></font></p>
  </td>
 <td width=15% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Bank</font></font></p>
  </td>
 <td width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">49.85</font></font></p>
  </td>
 <td width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">49.85</font></font></p>
  </td>
 <td width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&#160;57,999&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=45% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">BBVA BANCO CONTINENTAL, S.A.</font></font></p>
  </td>
 <td width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Peru</font></font></p>
  </td>
 <td width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Bank</font></font></p>
  </td>
 <td width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">92.24</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">46.12</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&#160;18,923&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=45% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">BBVA SEGUROS, S.A., DE SEGUROS Y REASEGUROS</font></font></p>
  </td>
 <td width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Spain</font></font></p>
  </td>
 <td width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Insurance</font></font></p>
  </td>
 <td width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">99.96</font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">99.96</font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&#160;17,343&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=45% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">BBVA COLOMBIA, S.A.</font></font></p>
  </td>
 <td width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Colombia</font></font></p>
  </td>
 <td width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Bank</font></font></p>
  </td>
 <td width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">95.46</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">95.46</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&#160;16,309&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=45% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">BBVA BANCO FRANCES, S.A.</font></font></p>
  </td>
 <td width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Argentina</font></font></p>
  </td>
 <td width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Bank</font></font></p>
  </td>
 <td width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">66.55</font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">66.55</font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&#160;8,161&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=45% style="background:white;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">PENSIONES BBVA BANCOMER, S.A. DE C.V., GRUPO
  FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td width=15% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td width=9% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Insurance</font></font></p>
  </td>
 <td width=9% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&#160;4,484&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.6pt;">
  <td width=45% style="background:white;height:24.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">SEGUROS BBVA BANCOMER S.A. DE C.V. GRUPO
  FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td width=15% style="height:24.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td width=9% style="height:24.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Insurance</font></font></p>
  </td>
 <td width=9% style="height:24.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="height:24.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="height:24.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&#160;4,014&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:25.35pt;">
  <td width=45% style="background:white;height:25.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">GARANTIBANK INTERNATIONAL NV</font></font></p>
  </td>
 <td width=15% style="height:25.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Netherlands</font></font></p>
  </td>
 <td width=9% style="height:25.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Bank</font></font></p>
  </td>
 <td width=9% style="height:25.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="height:25.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="height:25.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&#160;4,141&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; Information for non-EU subsidiaries
has been calculated using the prevailing exchange rates on December 31, 2018.</font></font><font style="border:none;">
&nbsp;</font></p>


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<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">D.&#160;&#160; Property,
Plants and Equipment</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We own and rent a substantial network of properties in
Spain and abroad, including 2,840 branch offices in Spain and, principally
through our various subsidiaries, 5,123 branch offices abroad as of December
31, 2018. As of December 31, 2018, approximately 67% of our branches in Spain
and 63% of our branches abroad (58% excluding those branches relating to the
Garanti group) were rented from third parties pursuant to short-term leases
that may be renewed by mutual agreement.</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">E. Selected Statistical Information</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:21.3pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following is a presentation of
selected statistical information for the periods indicated. Where required
under Industry Guide 3, we have provided such selected statistical information
separately for our domestic and foreign activities, pursuant to our
determination, where applicable, that our foreign operations are significant
according to Rule 9-05 of Regulation S-X. The allocation of assets and
liabilities is based on the domicile of the Group entity at which the relevant
asset or liability is accounted for. Domestic balances are those of Group
entities domiciled in Spain, which reflect our domestic activities, and
international balances are those of the Group entities domiciled outside of
Spain, which reflect our foreign activities.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Average Balances and Rates</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The tables below set forth selected statistical information
on our average balance sheets, which are based on the beginning and month-end
balances in each year. We do not believe that monthly averages present trends
materially different from those that would be presented by daily averages.
Interest income figures, when used, include interest income on non-accruing
loans to the extent that cash payments have been received. Loan fees are
included in the computation of interest revenue.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">82</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=9 nowrap valign=bottom width=71% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Balance Sheet -
  Assets and Interest from Earning Assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td nowrap valign=bottom width=29% style="height:23.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Year Ended December 31, 2018</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Year Ended December 31, 2017</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=24% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Year Ended December 31, 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.75pt;">
  <td valign=bottom width=29% style="height:30.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Balance</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Yield (1)</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Balance</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest</font></b></font></p>
  </td>
 <td valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Yield (1)</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Balance</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Yield (1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=9 nowrap valign=bottom width=71% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(In Millions of Euros, Except
  Percentages)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Assets</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=29% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Cash and balances with central banks and other
  demand deposits</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">42,730</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">135</font></i></b></font></p>
  </td>
 <td nowrap width=8% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.32%</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33,917</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">83</font></b></font></p>
  </td>
 <td nowrap width=7% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.25%</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26,209</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.05%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19,883</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">43</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.22% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,150</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34</font></i></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.28% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,769</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22,847</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">92</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.40% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">21,767</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">50</font></i></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.23% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,441</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.05% </font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Debt securities and derivatives</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">179,672</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,707</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.18%</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">177,164</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,724</font></b></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.67% </font></b></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">202,388</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,072</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.51% </font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">116,998</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,212</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.04% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">110,491</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,089</font></i></font></p>
  </td>
 <td nowrap width=7% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.99% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">133,009</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,772</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.33% </font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">62,674</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,495</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7.17% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">66,673</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,636</font></i></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.45% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">69,379</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,300</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.76% </font></i></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=29% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial assets</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">410,149</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,719</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.78%</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">444,518</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24,003</font></b></font></p>
  </td>
 <td nowrap width=7% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.40% </font></b></font></p>
  </td>
 <td nowrap width=8% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">454,299</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22,301</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.91% </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and advances to central banks</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,518</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">258</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.67% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,945</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">258</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.36% </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,326</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">229</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.50% </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">25,634</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">657</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.56% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26,420</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">485</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.83% </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">28,078</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">218</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.78% </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and advances to customers</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">378,996</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22,804</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.02% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">407,153</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,261</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.71% </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">410,895</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">21,853</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.32% </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&#160;&#160; In euros</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">181,668</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,381</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.86% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">196,893</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,449</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.75% </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">201,967</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,750</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.86% </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">172,561</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,276</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.90% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">187,281</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,377</font></i></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.80% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">192,186</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,685</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.92% </font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,107</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">105</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.16% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,612</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">72</font></i></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.75% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,781</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">65</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.66% </font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&#160;&#160; In other currency</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">197,328</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19,423</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9.84% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">210,261</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19,812</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9.42% </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">208,928</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,104</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8.67% </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,825</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">511</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.45% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,329</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">403</font></i></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.63% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,355</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">348</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.27% </font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">182,503</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,912</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10.36% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">194,932</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19,409</font></i></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9.96% </font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">193,573</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,756</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9.17% </font></i></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=29% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other assets(2)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">46,343</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">270</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.58%</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">48,872</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">485</font></b></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.99%</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">52,748</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">325</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.62%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total average assets (3)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">678,893</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29,831</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.39%</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">704,471</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29,296</font></b></font></p>
  </td>
 <td nowrap width=7% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.16%</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">735,645</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27,708</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.77%</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Rates have been presented on a non-taxable equivalent
basis.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160;&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Includes &#8220;Hedging derivatives&#8221;, &#8220;Fair value changes of the
hedged items in portfolio hedges of interest rate risk&#8221;, &#8220;Joint ventures,
associates and unconsolidated subsidiaries&#8221;, &#8220;Insurance and reinsurance
assets&#8221;, &#8220;Tangible assets&#8221;, &#8220;Intangible assets&#8221;, &#8220;Tax assets&#8221;, &#8220;Other assets&#8221;
and &#8220;Non-current assets and disposal groups held for sale&#8221;.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160;&#160;&#160;
</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Foreign activity represented 45.28% of the
total average assets for the year ended December 31, 2018, 46.99% for the year
ended December 31, 2017 and 49.84% for the year ended December 31, 2016.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">83</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_89"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=9 nowrap valign=bottom width=71% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Balance Sheet -
  Liabilities and Interest Paid on Interest Bearing Liabilities</font></b></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td nowrap valign=bottom width=29% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Year Ended December 31, 2018</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Year Ended December 31, 2017</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=24% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Year Ended December 31,</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;2016&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td valign=bottom width=29% style="height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Balance</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Yield (1)</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Balance</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest</font></b></font></p>
  </td>
 <td valign=bottom width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Yield (1)</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Balance</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average Yield (1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=9 nowrap valign=bottom width=71% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(In Millions of Euros, Except
  Percentages)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=29% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Deposits from central banks and credit institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">65,044</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,192</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.37% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">90,619</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,212</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.44% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">101,975</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,866</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.83% </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Customer deposits </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">370,078</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,559</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.77% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">392,057</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,007</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.79% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">398,851</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,944</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.49% </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&#160;&#160; In euros</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">178,370</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">337</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.19% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">186,261</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">461</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.25% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">195,310</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">766</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.39% </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">169,163</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">323</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.19% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">176,429</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">447</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.25% </font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">185,046</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">739</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.40% </font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,206</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.16% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,832</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.14% </font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,264</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.26% </font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&#160;&#160; In other currency</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">191,709</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,222</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.25% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">205,796</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,546</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.18% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">203,541</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,178</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.54% </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,738</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">130</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.21% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,076</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">95</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.78% </font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,543</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">39</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.34% </font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">180,971</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,092</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.37% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">193,720</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,451</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.33% </font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">191,998</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,139</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.68% </font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Debt certificates </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">75,927</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,753</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.31% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">84,221</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,631</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.94% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">89,876</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,738</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.93% </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=29% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other liabilities (2)</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">115,638</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,735</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.50% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">82,699</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">687</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.83% </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">89,328</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,101</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.23% </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total average liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">626,688</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,239</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.95% </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">649,597</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,537</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.78% </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">680,029</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,648</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.57% </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Shareholders&#8217; equity</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">52,206</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">54,874</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">55,616</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=29% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total average liabilities and equity (3)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">678,893</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,239</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.80%</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">704,471</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,537</font></b></font></p>
  </td>
 <td nowrap width=7% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.64% </font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">735,645</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,648</font></b></font></p>
  </td>
 <td nowrap width=8% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.45% </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Rates </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">have</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> been presented on a non-taxable equivalent basis.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160;&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Includes &#8220;Financial liabilities held for trading&#8221;, &#8220;Hedging
derivatives&#8221;, &#8220;Fair value changes of the hedged items in portfolio hedges of
interest rate risk&#8221;, &#8220;Liabilities under insurance and reinsurance contracts&#8221;,
&#8220;Provisions&#8221;, &#8220;Tax liabilities&#8221;, &#8220;Other liabilities&#8221;, &#8220;Liabilities included in
disposal groups classified as held for sale&#8221;.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160;&#160;&#160;
</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Foreign activity represented 47.54% of the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">total average liabilities for the year ended December 31, 2018,
46.99% for the year ended December 31, 2017 and 45.62% for the year ended
December 31, 2016.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">84</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_90"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes
in Net Interest Income-Volume and Rate Analysis</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following tables allocate changes in our net interest
income between changes in volume and changes in rate for the year ended
December 31, 2018 compared with the year ended December 31, 2017 and the year
ended December 31, 2017 compared with the year ended December 31, 2016. Volume
and rate variance have been calculated based on movements in average balances
over the period and changes in interest rates on average interest-earning
assets and average interest-bearing liabilities. The only out-of-period items
and adjustments excluded from the following table are interest payments on
loans which are made in a period other than the period in which they are due.
Loan fees were included in the computation of interest income.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=54% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018 / 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=54% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Increase (Decrease) Due to
  Changes in</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Volume (1)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Rate&#160; (2)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Net Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=54% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest income</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Cash and balances with central banks</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">30</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Securities portfolio and derivatives</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">67</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">916</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">983</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and advances to central banks</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(128)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">128</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(0)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and advances to credit institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(14)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">187</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">172</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and advances to customers</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,609)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,152</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(456)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&#160; In euros</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(267)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">199</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(68)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(265)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">165</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(101)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&#160; In other currencies</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,219)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">830</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(389)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(13)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">121</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">108</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,205)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">708</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(497)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other assets</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(25)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(190)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(215)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total income </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:#BFBFBF;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:#BFBFBF;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">535</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Deposits from central banks and credit institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(624)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">604</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(20)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Customer deposits </font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(393)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(55)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(448)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&#160; In euros</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(20)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(104)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(124)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(18)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(106)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(125)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&#160; In other currencies</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(448)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">124</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(324)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">46</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">36</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(438)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">78</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(360)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Debt certificates </font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(161)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">282</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">122</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other liabilities</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">274</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">774</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,048</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:#BFBFBF;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:#BFBFBF;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">702</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=46% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(167)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">The volume effect is
calculated as the result of the average interest rate of the earlier period
multiplied by the difference between the average balances of both periods.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">The rate effect is
calculated as the result of the average balance of the earlier period
multiplied by the difference between the average interest rates of both
periods.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">85</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=54% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017 / 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=54% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Increase (Decrease) Due to
  Changes in</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Volume (1)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Rate&#160; (2)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Net Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=54% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest income</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Cash and balances with central banks</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">71</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">74</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Securities portfolio and derivatives</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(632)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">285</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(347)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and advances to central banks</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(66)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">94</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and advances to credit institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(13)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">279</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">266</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and advances to customers</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(199)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,606</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,408</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&#160; In euros</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(94)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(206)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(301)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(94)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(214)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(308)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(0)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&#160; In other currencies</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">115</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,593</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,708</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">56</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">55</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">116</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,537</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,653</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other assets</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(24)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">184</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">160</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total income </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:#BFBFBF;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:#BFBFBF;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,588</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Deposits from central banks and credit institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(208)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">554</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">346</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Customer deposits </font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(101)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,164</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,063</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&#160; In euros</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(35)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(269)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(305)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(34)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(258)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(292)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(13)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&#160; In other currencies</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">57</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,311</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,368</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">54</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">56</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">56</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,256</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,312</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Debt certificates </font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(109)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(106)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other liabilities</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(82)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(332)</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(414)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:#BFBFBF;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:#BFBFBF;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">889</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=46% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">699</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">The volume effect is
calculated as the result of the average interest rate of the earlier period
multiplied by the difference between the average balances of both periods.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">The rate effect is
calculated as the result of the average balance of the earlier period
multiplied by the difference between the average interest rates of both
periods.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">86</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_92"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Interest
Earning Assets&#8212;Margin and Spread</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table analyzes the levels of our average earning assets and
illustrates the comparative gross and net yields and spread obtained for each
of the years indicated.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=48% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=52% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=48% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=48% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=52% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euro, Except
  Percentages)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average interest earning assets </font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">632,501</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">655,599</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">682,897</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross yield(1) </font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.7%</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.5%</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.1%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net yield(2) </font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.4%</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.2%</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.8%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest margin(3) </font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.8%</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.7%</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.5%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average effective rate paid on all interest-bearing
  liabilities </font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.4%</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.0%</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.8%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Spread(4) </font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.3%</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.4%</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.3%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Gross yield represents total
interest income divided by average interest earning assets.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net yield represents total interest
income divided by total average assets.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net interest margin represents net
interest income as percentage of average interest earning assets.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;text-indent:-21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(4)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Spread is the difference between gross yield and the
average cost of interest-bearing liabilities.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ASSETS</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Interest-Bearing
Deposits in Other Banks</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, interbank deposits (excluding
deposits with central banks) represented 3.5% of our total assets. Of such
interbank deposits, 14.6% were held outside of Spain and 85.4% in Spain. We
believe that our deposits are generally placed with highly rated banks and have
a lower risk than many loans we could make in Spain. However, such deposits are
subject to the risk that the deposit banks may fail or the banking system of
certain of the countries in which a portion of our deposits are made may face
liquidity or other problems.</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Securities Portfolio</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, our total securities portfolio (consisting of
investment securities and loans and advances) was carried on our consolidated
balance sheet at a carrying amount (equivalent to its market or appraised value
as of such date) of</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8364;115,918 million,</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">representing 17.1% of our
total assets. &#8364;24,370 million, or 21.0%, of our securities portfolio consisted
of Spanish Treasury bonds and Treasury bills. The average yield during 2018 on
the investment securities that BBVA held was 4.4%, compared with an average
yield of approximately 5.8% earned on loans and advances during 2018. See Notes
10 and 13 to our Consolidated Financial Statements. For a discussion of our investments
in affiliates, see Note 16 to our Consolidated Financial Statements. For a
discussion of the manner in which we value our securities, see Notes 2.2.1 and
8 to our Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following tables analyze the amortized cost and fair
value, as of December 31, 2018, of debt securities recorded under &#8220;Financial
assets at fair value through other comprehensive income&#8221; in our Consolidated
Financial Statements and, as of December 31, 2017 and December 31, 2016, of
debt securities recorded under &#8220;Available for sale financial assets&#8221; and
&#8220;Held-to-maturity investments&#8221; in the consolidated financial statements
included in the annual reports on Form 20-F for such years. See Note 2.4 to the
Consolidated Financial Statements for information on the impact of IFRS 9 in
the classification and measurement of financial assets and liabilities since
January 1, 2018. Financial assets held for trading, non-trading financial
assets mandatorily at fair value through profit or loss and financial assets designated
at fair value through profit or loss are not included in the tables below
because the amortized costs and fair values of these items are the same. See
Notes 8 and 13 to our Consolidated Financial Statements.
</font></font></p>


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</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap valign=top width=66% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=34% style="height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amortized cost</font></b></font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Fair Value (1)</font></b></font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Unrealized Gains</font></b></font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Unrealized Losses</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=34% style="height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap valign=bottom width=66% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">DEBT SECURITIES </font></b></font></p>
  </td>
 <td valign=bottom width=15% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=17% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=17% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=17% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=34% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME
  PORTFOLIO</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=17% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=17% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=17% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,802 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19,553 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">761 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10)</font></b></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td width=34% style="height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Spanish Government and other government agencies
  debt securities</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:36.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,205 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:36.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,857 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:36.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">661 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:36.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(9)</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=34% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,597 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,696 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">100 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">793 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">855 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">63 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">804 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">841 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">37 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,521 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,157 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">392 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(758)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">The United States</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,507 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,338 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(217)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=34% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">U.S. Treasury and other U.S. Government agencies
  debt securities</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,285 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,258 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(56)</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=34% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">States and political subdivisions debt securities</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,942 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,872 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(79)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,280 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,208 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(82)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">49 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">50 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,231 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,158 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(82)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexico</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,299 </font></b></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,163 </font></b></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6 </font></b></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(142)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=34% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexican Government and other government agencies
  debt securities</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,286 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,169 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(121)</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=34% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,013 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">994 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(21)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">35 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">978 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">961 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(20)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,164 </font></b></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,916 </font></b></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20 </font></b></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(269)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=34% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey Government and other government agencies debt
  securities</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,007 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,771 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(256)</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=34% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">157 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">145 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(13)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">157 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">145 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(13)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other countries</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,551 </font></b></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,740 </font></b></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">319 </font></b></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(130)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=34% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other foreign governments and other government
  agencies debt securities</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,510 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,601 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">173 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(82)</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=34% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,041 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,139 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">146 </font></font></p>
  </td>
 <td nowrap width=17% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(48)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">987 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">986 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,856 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,947 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">111 </font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(20)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,197 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,206 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(25)</font></font></p>
  </td>
 </tr>
<tr style="height:30.75pt;">
  <td width=34% style="height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME
  PORTFOLIO</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:double black 2.25pt;height:30.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">53,323 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:30.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">53,709 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:30.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,153 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:30.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(768)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td colspan=5 nowrap valign=bottom width=100% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)&#160;&#160;&#160; Fair values for listed
  securities are determined on the basis of their quoted prices at the end of
  the period. Fair values are used for unlisted securities based on our
  estimates and valuation techniques. See Note 8 to our Consolidated Financial
  Statements.</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">89</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_95"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap valign=top width=61% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amortized cost</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Fair Value (1)</font></b></font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Unrealized Gains</font></b></font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Unrealized Losses</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap valign=bottom width=61% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">DEBT SECURITIES </font></b></font></p>
  </td>
 <td valign=bottom width=14% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=15% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">AVAILABLE FOR SALE PORTFOLIO</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24,716</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">25,605</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">906</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Spanish Government and other government agencies
  debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22,765</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,539</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">791</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,951</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,066</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">114</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">891</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">962</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">72</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,061</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,103</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">43</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40,557</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40,647</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">661</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(572)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">The United States</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,479</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,317</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">36</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(198)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">U.S. Treasury and other U.S. Government agencies
  debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,052</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,018</font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(34)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">States and political subdivisions debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,573</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,482</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(99)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,854</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,817</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">28</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(65)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">56</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">57</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,798</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,759</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(65)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexico</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,755</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,658</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">45</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(142)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexican Government and other government agencies
  debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,101</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,015</font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34</font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(120)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,654</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,643</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(22)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">212</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">209</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,442</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,434</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(19)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,052</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,985</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">48</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(115)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey Government and other government agencies debt
  securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,033</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,967</font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">48</font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(114)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other countries</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,271</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,687</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">533</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(117)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other foreign governments and other government
  agencies debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,774</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,022</font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">325</font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(77)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,497</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,664</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">208</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(40)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,330</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,331</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,535</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,654</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">139</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(19)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,632</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,679</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">66</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(19)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=39% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TOTAL AVAILABLE FOR SALE PORTFOLIO</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">65,273</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">66,251</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,567</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(588)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=39% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">HELD TO MATURITY PORTFOLIO</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,984</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,043</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">59</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Spanish Government and other government agencies
  debt securities</font></font></p>
  </td>
 <td width=14% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,754</font></font></p>
  </td>
 <td width=15% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,812</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">58</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other domestic debt securities</font></font></p>
  </td>
 <td width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">230</font></font></p>
  </td>
 <td width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">231</font></font></p>
  </td>
 <td width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">203</font></font></p>
  </td>
 <td width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">204</font></font></p>
  </td>
 <td width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,770</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,759</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">30</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(42)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Government and other government agencies debt
  securities</font></font></p>
  </td>
 <td width=14% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,864</font></font></p>
  </td>
 <td width=15% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,844</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(39)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">906</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">915</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=39% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TOTAL HELD TO MATURITY PORTFOLIO</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,754</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,801</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">89</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(42)</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=39% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TOTAL DEBT SECURITIES</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">79,027</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">80,053</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,656</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(630)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=39% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=5 nowrap valign=bottom width=100% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)&#160;&#160;&#160; Fair values for listed
  securities are determined on the basis of their quoted prices at the end of
  the period. Fair values are used for unlisted securities based on our
  estimates and valuation techniques. See Note 8 to our Consolidated Financial
  Statements.</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap width=61% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amortized cost</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Fair Value (1)</font></b></font></p>
  </td>
 <td width=16% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Unrealized Gains</font></b></font></p>
  </td>
 <td width=16% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Unrealized Losses</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=61% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">DEBT SECURITIES </font></b></font></p>
  </td>
 <td width=14% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">AVAILABLE FOR SALE PORTFOLIO</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24,731 </font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">25,540 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">828 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(19)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Spanish Government and other government agencies
  debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22,427 </font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,119 </font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">711 </font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(18)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,305 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,421 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">117 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">986 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,067 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">82 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,319 </font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,354 </font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">36 </font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">49,253 </font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">49,040 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">773 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(987)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">The United States</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,256 </font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,043 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">48 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(261)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">U.S. Treasury and other U.S. Government agencies
  debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,702 </font></font></p>
  </td>
 <td nowrap width=15% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,683 </font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1 </font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(19)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">States and political subdivisions debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,758 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,654 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(112)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,797 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,706 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">39 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(130)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">95 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">97 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,702 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,609 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">37 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(130)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexico</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,525 </font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,200 </font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19 </font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(343)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexican Government and other government agencies
  debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,728 </font></font></p>
  </td>
 <td nowrap width=15% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,438 </font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11 </font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(301)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,797 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,763 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(42)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">86 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">87 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,710 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,675 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(41)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,550 </font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,443 </font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">73 </font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(180)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey Government and other government agencies debt
  securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,055 </font></font></p>
  </td>
 <td nowrap width=15% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,961 </font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">70 </font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(164)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">495 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">482 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(16)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">448 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">436 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(15)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">46 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other countries</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,923 </font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,354 </font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">634 </font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(203)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other foreign governments and other government
  agencies debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,882 </font></font></p>
  </td>
 <td nowrap width=15% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,156 </font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">373 </font></font></p>
  </td>
 <td nowrap width=16% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(98)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,041 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,197 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">261 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(105)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,657 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,659 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,269 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,311 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">96 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(54)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,115 </font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,227 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">161 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(49)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=39% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TOTAL AVAILABLE FOR SALE PORTFOLIO</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">73,985 </font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">74,580 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,601 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,006)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=39% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">HELD TO MATURITY PORTFOLIO</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,625 </font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,717 </font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">92 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Spanish Government and other government agencies
  debt securities</font></font></p>
  </td>
 <td width=14% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,063 </font></font></p>
  </td>
 <td width=15% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,153 </font></font></p>
  </td>
 <td width=16% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">90 </font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other domestic debt securities</font></font></p>
  </td>
 <td width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">562 </font></font></p>
  </td>
 <td width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">564 </font></font></p>
  </td>
 <td width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by Central Banks</font></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by credit institutions</font></font></p>
  </td>
 <td width=14% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">494 </font></font></p>
  </td>
 <td width=15% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">496 </font></font></p>
  </td>
 <td width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2 </font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Issued by other institutions</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">68 </font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">68 </font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,071 </font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,902 </font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(185)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=39% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Government and other government agencies debt
  securities</font></font></p>
  </td>
 <td width=14% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,982 </font></font></p>
  </td>
 <td width=15% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,830 </font></font></p>
  </td>
 <td width=16% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13 </font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(165)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=39% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other debt securities</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,089 </font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,072 </font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4 </font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(21)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=39% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TOTAL HELD TO MATURITY PORTFOLIO</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,696 </font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,619 </font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">108 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(185)</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=39% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TOTAL DEBT SECURITIES</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">91,681 </font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">92,199 </font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,709 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,192)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=39% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=5 nowrap valign=bottom width=100% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)&#160;&#160;&#160; Fair values for listed
  securities are determined on the basis of their quoted prices at the end of
  the period. Fair values are used for unlisted securities based on our
  estimates and valuation techniques. See Note 8 to our Consolidated Financial
  Statements.</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">91</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_97"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December
31, 2018, the carrying amount of debt securities classified within the fair
value through other comprehensive income portfolio by rating categories defined
by external rating agencies were as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=41% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 valign=top width=56% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td nowrap valign=bottom width=41% style="background:white;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=56% style="background:white;border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Debt Securities at Fair Value
  through Other Comprehensive Income</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap valign=bottom width=41% style="background:white;border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=28% style="background:white;border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Carrying Amount</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=8% style="background:white;border:none;border-top:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Percentage of Total (%)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">AAA</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=28% style="background:white;border:none;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">531</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="background:white;border:none;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.0%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">AA+</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=28% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,100</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24.4%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">AA</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=28% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">222</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.4%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">AA-</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=28% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">409</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.8%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">A+</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=28% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">632</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.2%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">A</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=28% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">687</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.3%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">A-</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=28% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,426</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34.3%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">BBB+</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=28% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,195</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17.1%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">BBB</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=28% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,607</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8.6%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">BBB-</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=28% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,003</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.9%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">BB+ or below</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=28% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,453</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8.3%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Without rating</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=28% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">445</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.8%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="background:white;border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=28% style="background:white;border:none;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">53,709</font></b></font></p>
  </td>
 <td width=8% style="background:white;height:15.0pt;padding:0cm 36.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="background:white;border:none;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">100%</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">92</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_98"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following tables analyze the amortized cost and fair
value, as of December 31, 2018, of our equity securities recorded under
&#8220;Financial assets at fair value through other comprehensive income&#8221; in our
Consolidated Financial Statements and, as of December 31, 2017 and December 31,
2016, of our equity securities recorded under &#8220;Available for sale financial
assets&#8221; in the consolidated financial statements included in the annual reports
on Form 20-F for such years. See Note 2.4 to the Consolidated Financial
Statements for information on the impact of IFRS 9 in the classification and
measurement of financial assets and liabilities since January 1, 2018.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap valign=top width=66% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amortized cost</font></b></font></p>
  </td>
 <td width=16% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Fair Value (1)</font></b></font></p>
  </td>
 <td width=17% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Unrealized Gains</font></b></font></p>
  </td>
 <td width=17% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Unrealized Losses</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap valign=bottom width=66% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">EQUITY SECURITIES </font></b></font></p>
  </td>
 <td valign=top width=16% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=16% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=34% style="height:24.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME
  PORTFOLIO</font></b></font></p>
  </td>
 <td valign=top width=16% style="background:white;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=16% style="background:white;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="background:white;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="background:white;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic</font></b></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,178 </font></b></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,969 </font></b></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1 </font></b></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(210)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity listed </font></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,172 </font></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,962 </font></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(210)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity unlisted </font></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6 </font></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7 </font></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1 </font></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></b></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">543 </font></b></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">627 </font></b></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">97 </font></b></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(13)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">United States</font></b></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">408 </font></b></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">448 </font></b></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40 </font></b></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity listed </font></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20 </font></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">37 </font></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17 </font></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity unlisted </font></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">388 </font></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">411 </font></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23 </font></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other countries</font></b></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">135 </font></b></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">179 </font></b></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">57 </font></b></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(13)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity listed </font></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">70 </font></font></p>
  </td>
 <td width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">84 </font></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26 </font></font></p>
  </td>
 <td width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity unlisted </font></font></p>
  </td>
 <td width=16% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">65 </font></font></p>
  </td>
 <td width=16% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">95 </font></font></p>
  </td>
 <td width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">31 </font></font></p>
  </td>
 <td width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:37.15pt;">
  <td width=34% style="background:white;height:37.15pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TOTAL EQUITY SECURITIES AT FAIR VALUE THROUGH OTHER
  COMPREHENSIVE INCOME PORTFOLIO</font></b></font></p>
  </td>
 <td width=16% style="background:white;border:none;border-bottom:double black 2.25pt;height:37.15pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,721 </font></b></font></p>
  </td>
 <td width=16% style="background:white;border:none;border-bottom:double black 2.25pt;height:37.15pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,595 </font></b></font></p>
  </td>
 <td width=17% style="background:white;border:none;border-bottom:double black 2.25pt;height:37.15pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">98 </font></b></font></p>
  </td>
 <td width=17% style="background:white;border:none;border-bottom:double black 2.25pt;height:37.15pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(223)</font></b></font></p>
  </td>
 </tr>
<tr style="height:38.45pt;">
  <td width=34% style="background:white;height:38.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TOTAL INVESTMENT SECURITIES AT FAIR VALUE THROUGH
  OTHER COMPREHENSIVE INCOME PORTFOLIO</font></b></font></p>
  </td>
 <td width=16% style="background:white;border:none;border-bottom:double black 2.25pt;height:38.45pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">56,044 </font></b></font></p>
  </td>
 <td width=16% style="background:white;border:none;border-bottom:double black 2.25pt;height:38.45pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">56,304 </font></b></font></p>
  </td>
 <td width=17% style="background:white;border:none;border-bottom:double black 2.25pt;height:38.45pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,251 </font></b></font></p>
  </td>
 <td width=17% style="background:white;border:none;border-bottom:double black 2.25pt;height:38.45pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(991)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=34% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=5 valign=bottom width=100% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">(1)&#160;&#160;&#160; Fair values for listed securities are
  determined on the basis of their quoted prices at the end of the year. Fair
  values are used for unlisted securities based on our estimates and valuation
  techniques. See Note 8 to our Consolidated Financial Statements.</font></font></p>
  </td>
 </tr>
</table></div>




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<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td nowrap valign=bottom width=34% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap valign=top width=66% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amortized cost</font></b></font></p>
  </td>
 <td width=16% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Fair Value (1)</font></b></font></p>
  </td>
 <td width=17% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Unrealized Gains</font></b></font></p>
  </td>
 <td width=17% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Unrealized Losses</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap valign=bottom width=66% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">EQUITY SECURITIES </font></b></font></p>
  </td>
 <td valign=top width=16% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=16% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">AVAILABLE FOR SALE PORTFOLIO</font></b></font></p>
  </td>
 <td valign=top width=16% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=16% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic</font></b></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,222 </font></b></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,250 </font></b></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29 </font></b></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity listed </font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,189 </font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,188 </font></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity unlisted </font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33 </font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">62 </font></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29 </font></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></b></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">880 </font></b></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">975 </font></b></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">110 </font></b></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(15)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">United States</font></b></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">509 </font></b></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">543 </font></b></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40 </font></b></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity listed </font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11 </font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11 </font></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity unlisted </font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">498 </font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">532 </font></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40 </font></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other countries</font></b></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">371 </font></b></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">432 </font></b></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">70 </font></b></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(9)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity listed </font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">204 </font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">230 </font></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33 </font></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(7)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity unlisted </font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">167 </font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">202 </font></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">37 </font></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=34% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TOTAL AVAILABLE FOR SALE PORTFOLIO</font></b></font></p>
  </td>
 <td width=16% style="background:white;border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,102 </font></b></font></p>
  </td>
 <td width=16% style="background:white;border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,224 </font></b></font></p>
  </td>
 <td width=17% style="background:white;border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">139 </font></b></font></p>
  </td>
 <td width=17% style="background:white;border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(16)</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=34% style="background:white;height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TOTAL INVESTMENT SECURITIES</font></b></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">82,129 </font></b></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">83,278 </font></b></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,795 </font></b></font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(646)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:3.0pt;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Fair values for listed securities are determined on the
basis of</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> their quoted </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">prices at the end of the year. Fair values are used for
unlisted securities based on our estimates and valuation techniques. See Note 8
to our Consolidated Financial Statements.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">94</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_100"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td nowrap valign=bottom width=33% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap valign=top width=67% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=33% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amortized cost</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Fair Value (1)</font></b></font></p>
  </td>
 <td width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Unrealized Gains</font></b></font></p>
  </td>
 <td width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Unrealized Losses</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=33% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap valign=bottom width=67% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=33% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">EQUITY SECURITIES </font></b></font></p>
  </td>
 <td valign=top width=15% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=15% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=33% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">AVAILABLE FOR SALE PORTFOLIO</font></b></font></p>
  </td>
 <td valign=top width=15% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=15% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=33% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=15% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=15% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=33% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,748 </font></b></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,822 </font></b></font></p>
  </td>
 <td valign=bottom width=19% style="background:white;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19 </font></b></font></p>
  </td>
 <td valign=bottom width=18% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(945)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=33% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity listed </font></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,690 </font></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,763 </font></font></p>
  </td>
 <td valign=bottom width=19% style="background:white;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17 </font></font></p>
  </td>
 <td valign=bottom width=18% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(944)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=33% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity unlisted </font></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">57 </font></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">59 </font></font></p>
  </td>
 <td valign=bottom width=19% style="background:white;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2 </font></font></p>
  </td>
 <td valign=bottom width=18% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=33% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,501 </font></b></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,820 </font></b></font></p>
  </td>
 <td valign=bottom width=19% style="background:white;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">336 </font></b></font></p>
  </td>
 <td valign=bottom width=18% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=33% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">United States</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">553 </font></b></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">588 </font></b></font></p>
  </td>
 <td valign=bottom width=19% style="background:white;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">35 </font></b></font></p>
  </td>
 <td valign=bottom width=18% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=33% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity listed </font></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16 </font></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38 </font></font></p>
  </td>
 <td valign=bottom width=19% style="background:white;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22 </font></font></p>
  </td>
 <td valign=bottom width=18% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=33% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity unlisted </font></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">537 </font></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">550 </font></font></p>
  </td>
 <td valign=bottom width=19% style="background:white;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13 </font></font></p>
  </td>
 <td valign=bottom width=18% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=33% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other countries</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">948 </font></b></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,231 </font></b></font></p>
  </td>
 <td valign=bottom width=19% style="background:white;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">301 </font></b></font></p>
  </td>
 <td valign=bottom width=18% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=33% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity listed </font></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">777 </font></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,028 </font></font></p>
  </td>
 <td valign=bottom width=19% style="background:white;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">268 </font></font></p>
  </td>
 <td valign=bottom width=18% style="background:white;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(15)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=33% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity unlisted </font></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">171 </font></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">203 </font></font></p>
  </td>
 <td valign=bottom width=19% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33 </font></font></p>
  </td>
 <td valign=bottom width=18% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=top width=33% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TOTAL AVAILABLE FOR SALE PORTFOLIO</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,248 </font></b></font></p>
  </td>
 <td valign=bottom width=15% style="background:white;border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,641 </font></b></font></p>
  </td>
 <td valign=bottom width=19% style="background:white;border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">355 </font></b></font></p>
  </td>
 <td valign=bottom width=18% style="background:white;border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(962)</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=33% style="background:white;height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TOTAL INVESTMENT SECURITIES</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">96,930 </font></b></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">96,839 </font></b></font></p>
  </td>
 <td valign=bottom width=19% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,064 </font></b></font></p>
  </td>
 <td valign=bottom width=18% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,154)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Fair values for listed securities are determined on the
basis of</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> their quoted </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">prices at the end of the year. Fair values are used for
unlisted securities based on our estimates and valuation techniques. See Note 8
to our Consolidated Financial Statements.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">95</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_101"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following
table analyzes the maturities of our debt securities at fair value through
other comprehensive income, by type and geographical area as of December 31,
2018:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:32.25pt;">
  <td valign=bottom width=30% style="height:32.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=16% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.5pt;border-top:none;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Maturity at One Year or Less</font></b></font></p>
  </td>
 <td colspan=2 width=15% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.5pt;border-top:none;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Maturity After One Year to
  Five Years</font></b></font></p>
  </td>
 <td colspan=2 width=15% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.5pt;border-top:none;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Maturity after Five Years to
  10 Years</font></b></font></p>
  </td>
 <td colspan=2 width=15% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.5pt;border-top:none;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Maturity after 10 Years</font></b></font></p>
  </td>
 <td width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=30% style="height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.5pt;border-top:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Yield % (1)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.5pt;border-top:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Yield %&#160; (1)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.5pt;border-top:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Yield %&#160; (1)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.5pt;border-top:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Yield %&#160; (1)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=30% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=9 nowrap valign=bottom width=70% style="background:white;border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(Millions of Euros, Except
  Percentages)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">DEBT SECURITIES</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=7% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=8% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td valign=bottom width=30% style="background:white;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME
  PORTFOLIO</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=7% style="height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=8% style="height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td valign=bottom width=30% style="background:white;height:30.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Spanish government and other government agencies
  debt securities</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,749</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:30.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.84</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,367</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:30.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.51</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,861</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:30.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.99</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,880</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:30.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.35</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,857</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">301</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.65</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">757</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.57</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.04</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">622</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.89</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,696</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total Domestic</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,050</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.03</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,125</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.54</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,876</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.97</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,502</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.27</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19,553</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,212</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.86</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,959</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.05</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,964</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.29</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">28</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.15</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,163</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=30% style="background:white;height:26.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Mexican Government and other government agency debt
  securities</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:26.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,117</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:26.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.67</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:26.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,281</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:26.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.75</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:26.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,771</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:26.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.08</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:26.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:26.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:26.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,169</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Other debt securities </font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">95</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.11</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">678</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.04</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">193</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.10</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">28</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.15</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">994</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">United States</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">549</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.30</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,645</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.04</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,620</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.88</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,524</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.67</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,338</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td valign=bottom width=30% style="background:white;height:27.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">U.S. Treasury and other government agency debt
  securities</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:27.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">264</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:27.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.44</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:27.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,841</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:27.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.98</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:27.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,153</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:27.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.59</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:27.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:27.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:27.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,258</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=30% style="background:white;height:25.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">States and political subdivisions debt securities</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:25.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:25.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:25.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:25.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.26</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:25.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">45</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:25.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.65</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:25.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,826</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:25.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.55</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:25.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,872</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">285</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.08</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">803</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.49</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">422</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.69</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,698</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.95</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,208</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">402</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17.00</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,489</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18.00</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">946</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17.54</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">79</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.70</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,916</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=top width=30% style="height:23.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Turkey Government and other government agencies debt
  securities</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">387</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16.96</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,359</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19.96</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">946</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17.54</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">79</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.70</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,771</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Other debt securities </font></font></p>
  </td>
 <td valign=bottom width=9% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.13</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">130</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.15</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">145</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Other countries</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,927</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.84</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,650</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.62</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,295</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.42</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,868</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.07</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,740</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Securities of other foreign governments(2)</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,201</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.14</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">797</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.46</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,528</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.48</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,075</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.20</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,601</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Other debt securities of other countries</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,726</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.36</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,853</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.69</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">767</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.37</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">793</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.88</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,139</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=30% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,090</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.05</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,743</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.14</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,825</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.20</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,499</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.06</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,157</font></b></font></p>
  </td>
 </tr>
<tr style="height:34.5pt;">
  <td width=30% style="background:white;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">TOTAL AT FAIR VALUE THROUGH OTHER COMPREHENSIVE
  INCOME</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:white;border:none;border-bottom:double black 2.25pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,140</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.09</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:white;border:none;border-bottom:double black 2.25pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,868</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.68</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:white;border:none;border-bottom:double black 2.25pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,701</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:white;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.38</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:white;border:none;border-bottom:double black 2.25pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,001</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:white;border:none;border-bottom:double black 2.25pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.51</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:white;border:none;border-bottom:double black 2.25pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">53,709</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:3.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)<sup> &nbsp;</sup>&#160;&#160;&#160;Rates have
been presented on a non-taxable equivalent basis.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)<sup> &nbsp;</sup>&#160;&#160;&#160;Securities of
other foreign governments mainly include investments made by our subsidiaries
in securities issued by the governments of the countries where they operate.</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Loans and
Advances to Credit Institutions and Central Banks</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, our total loans and advances to
credit institutions and central banks amounted to 29,866 million, or 4.4% of
total assets, of which total loans and advances to credit institutions and
central banks at amortized cost amounted to &#8364;13,122 million, or 1.9% of total
assets. Net of our impairment losses, total loans and advances to credit
institutions and central banks at amortized cost amounted to &#8364;13,104 million as
of December 31, 2018, or 1.9% of total assets.</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">96</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_102"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Loans
and Advances to Customers</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, our total loans and advances to
customers amounted to &#8364;400,049 million, or 59.12% of total assets. Net of our
impairment losses, total loans and advances to customers amounted to &#8364;387,850
million as of December 31, 2018, or 57.32% of our total assets. As of December
31, 2018 our total loans and advances to customers in Spain amounted to
&#8364;171,361 million. Our total loans and advances to customers outside Spain
amounted to &#8364;228,688 million as of December 31, 2018.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">Loans by Geographic Area</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table shows, by
domicile of the customer, our net loans and advances to customers as of the
dates indicated:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td nowrap valign=bottom width=24% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 nowrap width=76% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=24% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2015</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2014</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=24% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 nowrap width=76% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Domestic </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">171,361</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">180,033</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">182,492</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">192,227</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">178,410</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Western
  Europe</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29,322</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">25,308</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">25,763</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,327</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19,696</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">The
  United States</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">61,497</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">53,526</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">60,388</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">58,677</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47,819</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">53,772</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">48,463</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">50,242</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51,842</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">49,904</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40,641</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">49,690</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">54,174</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">54,252</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">South
  America</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38,680</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">39,814</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">53,512</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47,862</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">53,616</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Other</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,777</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,240</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,058</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,735</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,586</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">228,688</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">221,041</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">248,137</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">240,695</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">174,620</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=24% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total loans and advances (1)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">400,049</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">401,074</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">430,629</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">432,921</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">353,030</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=24% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Impairment
  losses</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12,199)</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12,748)</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(15,974)</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(18,691)</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(14,244)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=24% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total net lending </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">387,850</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">388,326</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">414,655</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">414,231</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">338,785</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160;
As of December 31, 2018, includes loans and advances to customers included in
the following headings: financial assets held for trading, non-trading
financial assets mandatorily at fair value through profit or loss, financial
assets designated at fair value through profit or loss and financial assets at
amortized cost. As of December 31, 2017, 2016, 2015 and 2014, includes loans
and advances to customers previously reported as financial assets held for
trading and loans and receivables. See Note 2.4 to the Consolidated Financial
Statements for information on the impact of IFRS 9 in the classification and
measurement of financial assets and liabilities since January 1, 2018.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">97</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_103"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">Loans by
Type of Customer </font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table shows, by
domicile and type of customer, our net loans and advances to customers at each
of the dates indicated. The classification by type of customer is based
principally on regulatory authority requirements in each country:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td nowrap valign=bottom width=26% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 nowrap width=74% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=26% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2015</font></b></font></p>
  </td>
 <td width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2014</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=26% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 nowrap width=74% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=26% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Domestic</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=26% style="height:12.75pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Government
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,671</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,116</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20,741</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,549</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,421</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=26% style="height:12.75pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Agriculture
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,118</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,231</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,076</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,064</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,221</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=26% style="height:12.75pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Industrial
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,683</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,707</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,670</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,079</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,507</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=26% style="height:12.75pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Real
  estate and construction </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,671</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,786</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,179</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,621</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20,170</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=top width=26% style="height:13.5pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Commercial
  and financial </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,131</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,075</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,111</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,557</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,439</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=top width=26% style="height:13.5pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Loans
  to individuals(1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">98,131</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">99,780</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">102,299</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">105,157</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">86,362</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=26% style="height:12.75pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Other
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,955</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,338</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,415</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,200</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,289</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=26% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total Domestic</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">171,361</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">180,033</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">182,492</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">192,227</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">178,410</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=26% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=26% style="height:12.75pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Government
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,900</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,289</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,132</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,062</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,691</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=26% style="height:12.75pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Agriculture
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,566</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,646</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,236</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,251</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,127</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=top width=26% style="height:13.5pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Industrial
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">41,954</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">37,319</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">43,402</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">41,834</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24,072</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=26% style="height:12.75pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Real
  estate and construction </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,499</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,885</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">21,822</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20,343</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,982</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=top width=26% style="height:13.5pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Commercial
  and financial </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">36,571</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">31,584</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33,933</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">32,019</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">25,441</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=top width=26% style="height:14.25pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Loans
  to individuals(1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">80,224</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">78,162</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">89,981</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:14.25pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">89,132</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:14.25pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">72,223</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=top width=26% style="height:13.5pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Other
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,973</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">39,156</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">41,630</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">39,054</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,082</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=top width=26% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total Foreign</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">228,688</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">221,040</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">248,137</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">240,695</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">174,620</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=26% style="height:24.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total Loans and Advances (2)</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:24.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">400,049</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:24.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">401,074</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:24.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">430,629</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:24.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">432,921</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:double black 2.25pt;height:24.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">353,030</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="height:15.75pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Impairment
  losses</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12,199)</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12,748)</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(15,974)</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(18,691)</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(14,244)</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=top width=26% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total net lending</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">387,850</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">388,326</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">414,655</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">414,231</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">338,785</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160;&#160; Includes mortgage loans to households
for the acquisition of housing.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160;&#160;
As of December 31, 2018, includes loans and advances to customers included in
the following headings: financial assets held for trading, non-trading
financial assets mandatorily at fair value through profit or loss, financial
assets designated at fair value through profit or loss and financial assets at
amortized cost. As of December 31, 2017, 2016, 2015 and 2014, includes loans
and advances to customers previously reported as financial assets held for
trading and loans and receivables. See Note 2.4 to the Consolidated Financial
Statements for information on the impact of IFRS 9 in the classification and
measurement of financial assets and liabilities since January 1, 2018.</font></font><font style="border:none;">
&nbsp;</font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">98</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_104"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table sets forth a breakdown, by currency, of
our net loan portfolio as of December&nbsp;31, 2018, 2017, 2016, 2015 and 2014:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:18.0pt;">
  <td nowrap valign=bottom width=29% style="height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 nowrap width=71% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=29% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 <td width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2015</font></b></font></p>
  </td>
 <td width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2014</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 nowrap width=71% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td nowrap valign=bottom width=29% style="height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=29% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">In
  euros</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">193,702</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">199,399</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">199,289</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">204,549</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">182,903</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=29% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">In
  other currencies</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">194,148</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">188,926</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">215,366</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">209,681</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">155,882</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=29% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total net lending (1)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">387,850</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">388,326</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">414,655</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">414,231</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">338,785</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160;
As of December 31, 2018, includes loans and advances to customers included in
the following headings: financial assets held for trading, non-trading financial
assets mandatorily at fair value through profit or loss, financial assets
designated at fair value through profit or loss and financial assets at
amortized cost. As of December 31, 2017, 2016, 2015 and 2014, includes loans
and advances to customers previously reported as financial assets held for
trading and loans and receivables. See Note 2.4 to the Consolidated Financial
Statements for information on the impact of IFRS 9 in the classification and
measurement of financial assets and liabilities since January 1, 2018.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, total loans and advances by BBVA and its
subsidiaries to associates and jointly controlled companies amounted to &#8364;1,866
million, compared with &#8364;510 million as of December&nbsp;31, 2017. Loans and
advances outstanding to the Spanish government and its agencies amounted to
&#8364;16,671 million, or 4.2% of our total loans and advances to customers as of
December 31, 2018 compared with &#8364;18,116 million, or 4.5% of our total loans and
advances to customers as of December&nbsp;31, 2017. None of our loans to
companies controlled by the Spanish government are guaranteed by the government
and, accordingly, we apply normal credit criteria in extending credit to such
entities. Moreover, we carefully monitor such loans because governmental policies
necessarily affect such borrowers.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Diversification
in our loan portfolio is our principal means of reducing the risk of loan
losses. We also carefully monitor our loans to borrowers in sectors or
countries experiencing liquidity problems. Our exposure to our five largest
borrowers as of</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> December 31, 2018</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, excluding government-related loans, amounted to &#8364;17,425</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">million or approximately
4.4% of our total outstanding loans and advances. As of</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> December 31, 2018</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> there
did not exist any concentration of loans exceeding 10% of our total outstanding
loans and advances, other than by category as disclosed above.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Maturity
and Interest Sensitivity</font></i></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
following table sets forth an analysis by maturity of our total loans and
advances to customers by domicile of the branch office that issued the loan and
the type of customer as of December 31, 2018. The determination of maturities
is based on contract terms.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">99</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_105"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=30% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap width=70% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Maturity</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap valign=bottom width=30% style="height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Due in One Year or Less</font></b></font></p>
  </td>
 <td width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Due After One Year Through
  Five Years</font></b></font></p>
  </td>
 <td width=17% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Due After Five Years</font></b></font></p>
  </td>
 <td width=17% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap width=70% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(in Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Domestic</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Government
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,595</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,486</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,590</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,671</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Agriculture
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">307</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">414</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">398</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,118</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Industrial
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,644</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,892</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,147</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,683</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Real
  estate and construction </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,902</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,539</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,231</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,671</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Commercial
  and financial </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,531</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,246</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,354</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,131</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Loans
  to individuals </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,513</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,903</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">83,716</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">98,131</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Other
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,805</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,197</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,954</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,955</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=top width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total Domestic</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33,296</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">31,677</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">106,389</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">171,361</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=top width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Government
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,352</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,732</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,816</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,900</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Agriculture
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,489</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">769</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">308</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,566</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Industrial
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,147</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,867</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,939</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">41,954</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Real
  estate and construction </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,225</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,075</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,199</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,499</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Commercial
  and financial </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">21,213</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,033</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,325</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">36,571</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Loans
  to individuals </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,720</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27,113</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">41,391</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">80,224</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=30% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Other
  </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,940</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,179</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,854</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,973</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=top width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">71,086</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">83,769</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">73,832</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">228,688</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=top width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total loans and advances (1)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:double black 2.25pt;height:14.25pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">104,382</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:double black 2.25pt;height:14.25pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">115,446</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:double black 2.25pt;height:14.25pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">180,221</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:double black 2.25pt;height:14.25pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">400,049</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160; Includes loans
and advances to customers included in the following headings: financial assets
held for trading, non-trading financial assets mandatorily at fair value
through profit or loss, financial assets designated at fair value through
profit or loss and financial assets at amortized cost.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table sets forth a breakdown of our fixed and
variable rate loans which had a maturity of more than one year as of December
31, 2018.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=35% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 width=65% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Interest Sensitivity of Outstanding
  Loans and Advances Maturing in More Than One Year</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=35% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></b></font></p>
  </td>
 <td nowrap width=25% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=35% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 nowrap width=65% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=35% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=25% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=35% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Fixed rate</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">52,559</font></font></p>
  </td>
 <td nowrap valign=bottom width=25% style="height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">59,995</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">112,554</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=35% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Variable rate</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">85,507</font></font></p>
  </td>
 <td nowrap valign=bottom width=25% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">97,606</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">183,113</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=top width=35% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total loans and advances (1)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">138,066</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=25% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">157,601</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:double black 2.25pt;height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">295,667</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160; Includes loans
and advances to customers included in the following headings: financial assets
held for trading, non-trading financial assets mandatorily at fair value
through profit or loss, financial assets designated at fair value through
profit or loss and financial assets at amortized cost.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment Losses on Loans
and Advances</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For a discussion of loan loss reserves, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 5. Operating and
Financial Review and Prospects&#8212;Critical Accounting Policies&#8212;Impairment losses
on financial assets&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and Note 2.2.1 to our Consolidated Financial
Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table provides information regarding our loan loss reserve
and movements of loan charge-offs and recoveries with respect to customers and
credit institutions for the periods indicated, based on their respective
domicile.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">100</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_106"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 width=51% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">As of and for the year ended
  December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.6pt;">
  <td nowrap valign=bottom width=34% style="height:21.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2015</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2014</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=34% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 nowrap width=66% style="border:none;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loan loss reserve at beginning of period:</font></b></font></p>
  </td>
 <td nowrap width=15% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic</font></font></p>
  </td>
 <td width=15% style="height:15.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,234</font></font></p>
  </td>
 <td width=14% style="height:15.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,113</font></font></p>
  </td>
 <td width=13% style="height:15.0pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,357</font></font></p>
  </td>
 <td width=12% style="height:15.0pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,832</font></font></p>
  </td>
 <td width=12% style="height:15.0pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,510</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=34% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></font></p>
  </td>
 <td width=15% style="height:15.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,550</font></font></p>
  </td>
 <td width=14% style="height:15.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,903</font></font></p>
  </td>
 <td width=13% style="height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,385</font></font></p>
  </td>
 <td width=12% style="height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,441</font></font></p>
  </td>
 <td width=12% style="height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,480</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=34% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">First implementation of IFRS 9 <sup>(1)</sup></font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,171</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Loan loss reserve at beginning of period</font></b></font></p>
  </td>
 <td width=15% style="border:none;height:15.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,955</font></b></font></p>
  </td>
 <td width=14% style="border:none;height:15.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,016</font></b></font></p>
  </td>
 <td width=13% style="border:none;height:15.0pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,742</font></b></font></p>
  </td>
 <td width=12% style="border:none;height:15.0pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,273</font></b></font></p>
  </td>
 <td width=12% style="border:none;height:15.0pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,990</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=15% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=14% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=13% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans charged off: <sup>(2)</sup></font></b></font></p>
  </td>
 <td width=15% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=34% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total domestic</font></font></p>
  </td>
 <td width=15% style="height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,818)</font></font></p>
  </td>
 <td width=14% style="height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3,709)</font></font></p>
  </td>
 <td width=13% style="height:15.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3,298)</font></font></p>
  </td>
 <td width=12% style="height:15.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3,340)</font></font></p>
  </td>
 <td width=12% style="height:15.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,628)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=34% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total foreign </font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,956)</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,330)</font></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,400)</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,933)</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,836)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Loans charged off:</font></b></font></p>
  </td>
 <td width=15% style="border:none;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4,774)</font></b></font></p>
  </td>
 <td width=14% style="border:none;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6,039)</font></b></font></p>
  </td>
 <td width=13% style="border:none;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5,698)</font></b></font></p>
  </td>
 <td width=12% style="border:none;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5,273)</font></b></font></p>
  </td>
 <td width=12% style="border:none;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4,464)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=15% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=14% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=13% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provision for loan losses:</font></b></font></p>
  </td>
 <td width=15% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=34% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic </font></font></p>
  </td>
 <td width=15% style="height:15.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">910</font></font></p>
  </td>
 <td width=14% style="height:15.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,155</font></font></p>
  </td>
 <td width=13% style="height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,095</font></font></p>
  </td>
 <td width=12% style="height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,933</font></font></p>
  </td>
 <td width=12% style="height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,308</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=34% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign </font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,659</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,078</font></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,046</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,804</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,439</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Provision for loan losses</font></b></font></p>
  </td>
 <td width=15% style="border:none;height:15.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,569</font></b></font></p>
  </td>
 <td width=14% style="border:none;height:15.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,233</font></b></font></p>
  </td>
 <td width=13% style="border:none;height:15.0pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,141</font></b></font></p>
  </td>
 <td width=12% style="border:none;height:15.0pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,737</font></b></font></p>
  </td>
 <td width=12% style="border:none;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,747</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=15% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=14% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=13% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Acquisition and disposition of subsidiaries <sup>(3)</sup></font></font></p>
  </td>
 <td valign=bottom width=15% style="height:15.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=14% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">(5)</font></font></p>
  </td>
 <td valign=bottom width=13% style="height:15.0pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">6,572</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=34% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Effect of foreign currency translation</font></font></p>
  </td>
 <td valign=bottom width=15% style="height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">(239)</font></font></p>
  </td>
 <td valign=bottom width=14% style="height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">(926)</font></font></p>
  </td>
 <td valign=bottom width=13% style="height:15.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">(601)</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">(862)</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">(119)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=34% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,301)</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(495)</font></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(567)</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(705)</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(881)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" style="font-size:9.0pt;">Acquisition, foreign currency and others</font></b></font></p>
  </td>
 <td width=15% style="border:none;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" style="font-size:9.0pt;">(1,539)</font></b></font></p>
  </td>
 <td width=14% style="border:none;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" style="font-size:9.0pt;">(1,426)</font></b></font></p>
  </td>
 <td width=13% style="border:none;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" style="font-size:9.0pt;">(1,168)</font></b></font></p>
  </td>
 <td width=12% style="border:none;height:15.0pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" style="font-size:9.0pt;">5,005</font></b></font></p>
  </td>
 <td width=12% style="border:none;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" style="font-size:9.0pt;">(1,000)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=13% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loan loss reserve at end of period:</font></b></font></p>
  </td>
 <td width=15% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="height:15.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=34% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic</font></font></p>
  </td>
 <td width=15% style="height:15.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,774</font></font></p>
  </td>
 <td width=14% style="height:15.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,234</font></font></p>
  </td>
 <td width=13% style="height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,113</font></font></p>
  </td>
 <td width=12% style="height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,357</font></font></p>
  </td>
 <td width=12% style="height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,832</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=34% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,437</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,550</font></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,903</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,385</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,441</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td nowrap width=34% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Loan loss reserve at end of period</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:26.25pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,211</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:double black 2.25pt;height:26.25pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,784</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:double black 2.25pt;height:26.25pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,016</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:double black 2.25pt;height:26.25pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,742</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:double black 2.25pt;height:26.25pt;padding:0cm 14.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,273</font></b></font></p>
  </td>
 </tr>
<tr style="height:37.5pt;">
  <td valign=bottom width=34% style="height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loan loss reserve as a percentage of loans and
  advances at amortized cost at end of period</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;height:37.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.19%</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="border:none;height:37.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.09%</font></b></font></p>
  </td>
 <td valign=bottom width=13% style="border:none;height:37.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.44%</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;height:37.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.97%</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;height:37.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.83%</font></b></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td valign=bottom width=34% style="height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net loan charge-offs as a percentage of loans and
  advances at amortized cost at end of period</font></b></font></p>
  </td>
 <td valign=bottom width=15% style="height:36.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.25%</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="height:36.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.46%</font></b></font></p>
  </td>
 <td valign=bottom width=13% style="height:36.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.22%</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="height:36.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.12%</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="height:36.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.19%</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160;&#160; For
additional information on the implementation of IFRS 9, see note 2.4 to our
Consolidated Financial Statement.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160;&#160;&#160; Domestic </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">loans charged off in 2018, 2017, 2016, 2015
and 2014 were mainly related to the real estate sector.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160;&#160;&#160;
In 2015, includes amounts related to Garanti (in which we acquired a further
14.89% stake in such year, following which we started to fully consolidate
Garanti&#8217;s results in our consolidated financial statements) and Catalunya Banc
(which we fully acquired in such year).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">When the recovery of any recognized amount is considered to
be remote, this amount is removed from the consolidated balance sheet, without
prejudice to any actions taken by the consolidated entities in order to collect
the amount until their rights extinguish in full through expiry, forgiveness or
for other reasons.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">101</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_107"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The loans charged off amounted
to &#8364;4,774 million during the year ended December 31, 2018 compared with &#8364;6,039
million during the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our loan loss reserves as a percentage of total loans and
advances to customers and credit institutions increased to 3.19% as of December
31, 2018 from 3.09% as of December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:18.0pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impaired Loans</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As described in Note 2.2.1 to the Consolidated Financial
Statements, loans are considered to be credit-impaired under IFRS 9 if one or
more events have occurred and they have a detrimental impact on the estimated
future cash flows of the loan.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Amounts collected in relation to impaired financial assets
at amortized cost are used to recognize the related accrued interest and any
excess amount is used to reduce the unpaid principal. The approximate amount of
interest income on our impaired loans which was included in profit attributable
to parent company in 2018, 2017, 2016, 2015 and 2014 was &#8364;412.5&nbsp;million,
&#8364;347.4&nbsp;million, &#8364;264.2&nbsp;million, &#8364;253.9&nbsp;million,
&#8364;231.2&nbsp;million, respectively.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table provides information regarding our
impaired loans of customers and credit institutions, by their respective
domicile and type, as of the dates indicated:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=38% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 nowrap width=62% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">As of December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=38% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2015</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2014</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=38% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 nowrap width=62% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=38% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Impaired loans</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white style="border:none;"><font color=white face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=38% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Domestic</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">9,436</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">12,730</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">16,360</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">19,481</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">18,563</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=38% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Public sector</font></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">112</font></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">158</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">270</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">191</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">172</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=38% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Other resident sector</font></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">9,324</font></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">12,572</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">16,090</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">19,290</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">18,391</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=38% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,923</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,671</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,565</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">5,882</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">4,167</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=38% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Public sector</font></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">16</font></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">42</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=38% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Other non-resident sector</font></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,906</font></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,658</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,523</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">5,860</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">4,159</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=38% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Total impaired loans</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">16,359</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">19,401</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">22,925</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">25,363</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">22,730</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=38% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Total loan loss reserve</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(12,211)</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(12,784)</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(16,016)</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(18,742)</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">(14,273)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=38% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Impaired loans net of reserves</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">4,148</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,617</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,909</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6,621</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">8,457</font></b></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=38% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Impaired loans as a percentage of loans and advances
  at amortized cost</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">4.27%</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">4.69%</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">4.92%</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">5.38%</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">6.10%</font></b></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=38% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">Impaired loans (net of reserve) as a percentage of
  loans and advances at amortized cost</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1.08%</font></b></font></p>
  </td>
 <td nowrap width=13% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1.60%</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1.48%</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">1.40%</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">2.27%</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our total impaired loans to customers and credit
institutions amounted to &#8364;16,359 million as of December 31, 2018, a 15.7%
decrease compared with &#8364;19,401 million as of December 31, 2017. This decrease
was mainly attributable to the reduction of the Group&#8217;s exposure to loans to
individuals and the real estate sector in Spain.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As mentioned in Note 2.2.1 to the
Consolidated Financial Statements, our loan loss reserve includes loss reserve
for impaired assets and loss reserve for unimpaired assets but which present an
inherent loss. As of December 31, 2018, the loan loss reserve amounted to
&#8364;12,211 million, a 4.5% decrease compared with &#8364;12,784 million as of December
31, 2017.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">102</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following
tables provide information regarding impaired loans to customers and credit
institutions recorded under &#8220;Financial assets at amortized cost&#8221; and
accumulated impairment taken for each loan category, as of December 31, 2018
and 2017, by their respective domicile and type:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:60.75pt;">
  <td nowrap valign=bottom width=51% style="height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2018</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impaired Loans</font></b></font></p>
  </td>
 <td width=16% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.5pt;border-top:none;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loan Loss Reserve (1)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impaired Loans as a
  Percentage of Loans by Category</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 nowrap width=49% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic:</font></b></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Government</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">112</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(59)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.67%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other sectors</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,324</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5,396)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.03%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Agriculture</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">57</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(37)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.07%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Industrial</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">712</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(502)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.85%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Real estate and construction</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,624</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,060)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15.22%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Commercial and other financial</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,104</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(770)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.46%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans to individuals</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,065</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,461)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.16%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">763</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(566)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.87%</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=51% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Domestic</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,436</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5,455)</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.51%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=51% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign:</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Government</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(24)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.12%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.41%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other sectors</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,896</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6,719)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.21%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Agriculture</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">66</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(70)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.56%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Industrial</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,682</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,163)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.01%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Real estate and construction</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">697</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(571)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.77%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Commercial and other financial</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">667</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(638)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.85%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans to individuals</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,773</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3,372)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.46%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=51% style="height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,011</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(905)</font></font></p>
  </td>
 <td nowrap width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.87%</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=51% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Foreign</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,923</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6,755)</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.03%</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=51% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total </font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,359</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12,211)</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.09%</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Includes
impairment of Stage 1, 2 and 3 loans </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">recorded under &#8220;Financial assets at amortized cost&#8221;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">.</font></font><font style="border:none;">
&nbsp;</font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">103</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_109"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:60.75pt;">
  <td nowrap valign=bottom width=48% style="height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2017</font></b></font></p>
  </td>
 <td valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impaired Loans</font></b></font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.5pt;border-top:none;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loan Loss Reserve</font></b></font></p>
  </td>
 <td valign=bottom width=17% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impaired Loans as a
  Percentage of Loans by Category</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=52% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Domestic:</font></b></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=17% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Government</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">158</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(34)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.87%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><font color=white face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other sectors</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,572</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5,204)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7.76%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Agriculture</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">95</font></font></p>
  </td>
 <td width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(43)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7.75%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Industrial</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">902</font></font></p>
  </td>
 <td width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(449)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.13%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Real estate and construction</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,647</font></font></p>
  </td>
 <td width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,037)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">30.94%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Commercial and other financial</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,055</font></font></p>
  </td>
 <td width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(557)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.56%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans to individuals</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,911</font></font></p>
  </td>
 <td width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,676)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.92%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">961</font></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(442)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.24%</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=48% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Domestic</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,730</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5,238)</font></b></font></p>
  </td>
 <td nowrap width=17% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7.07%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=48% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign:</font></b></font></p>
  </td>
 <td width=18% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Government</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.09%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.40%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other sectors</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,647</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3,424)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.22%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Agriculture</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">70</font></font></p>
  </td>
 <td width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(41)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.65%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Industrial</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">756</font></font></p>
  </td>
 <td width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(434)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.02%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Real estate and construction</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">517</font></font></p>
  </td>
 <td width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(214)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.89%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Commercial and other financial</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">651</font></font></p>
  </td>
 <td width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(390)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.06%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans to individuals</font></font></p>
  </td>
 <td width=18% style="height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,505</font></font></p>
  </td>
 <td width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,345)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.21%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=48% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,148</font></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(999)</font></font></p>
  </td>
 <td nowrap width=17% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.49%</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=48% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Foreign</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,671</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3,437)</font></b></font></p>
  </td>
 <td nowrap width=17% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.02%</font></b></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td width=48% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Collective allowance for incurred but not reported
  losses</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:double black 2.25pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4,109)</font></b></font></p>
  </td>
 <td nowrap width=17% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=48% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19,401</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12,784)</font></b></font></p>
  </td>
 <td nowrap width=17% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.85%</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">104</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_110"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Troubled Debt
Restructurings</font></i></b></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, of the total troubled debt
restructurings of &#8364;17,169 million, as described in Note 7.3 and Appendix VIII
to our Consolidated Financial Statements, &#8364;7,166 million were not considered
impaired loans.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Potential Problem Loans</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The identification of &#8220;Potential problem loans&#8221; is based on the analysis
of historical non-performing asset ratio trends, categorized by
products/clients and geographical locations. This analysis is focused on the
identification of portfolios with non-performing asset ratio higher than our
average non-performing asset ratio. Once these portfolios are identified, we
segregate such portfolios into groups with similar characteristics based on the
activities to which they are related, geographical location, type of
collateral, solvency of the client and loan to value ratio</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></i></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The non-performing asset ratio in our domestic real estate
and construction portfolio was 15.2% as of December 31, 2018 (compared with
30.9% as of December 31, 2017), substantially higher than the average
non-performing asset ratio for all of our domestic activities (5.5% as of
December 31, 2018 and 7.1% as of December 31, 2017) and the average
non-performing asset ratio for all of our consolidated activities (3.8% as of
December 31, 2018 and 4.4% as of December 31, 2017). Within such portfolio,
construction loans and property development loans (which exclude mainly
infrastructure and civil construction) had a non-performing asset ratio of
17.2% as of December 31, 2018 (compared with 26.2% as of December 31, 2017).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Foreign Country Outstandings</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table sets forth,
as of the end of the years indicated, the aggregate amounts of our cross-border
outstandings (which consist of loans, interest-bearing deposits with other
banks, acceptances and other monetary assets denominated in a currency other
than the home-country currency of the office where the item is booked) where
outstandings in the borrower&#8217;s country exceeded 1% of our total assets as of December
31, 2018, December&nbsp;31, 2017 and December 31, 2016. Cross-border
outstandings do not include loans in local currency made by our subsidiary
banks to customers in other countries to the extent that such loans are funded
in the local currency or hedged. As a result, they do not include the vast
majority of the loans made by our subsidiaries in South America, Mexico, Turkey
and the United States or other regions which are not listed below.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:14.45pt;">
  <td nowrap width=28% style="height:14.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=24% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=24% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=24% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=28% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">% of Total Assets</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">% of Total Assets</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">% of Total Assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=28% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=6 nowrap width=72% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros, Except
  Percentages)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=28% style="height:15.0pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">United Kingdom </font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,114</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.1%</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,444</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.2%</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,854</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.8%</font></font></p>
  </td>
 </tr>
<tr style="height:14.45pt;">
  <td nowrap width=28% style="height:14.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexico </font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,217</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.3%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,635</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.4%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,947</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.3%</font></font></p>
  </td>
 </tr>
<tr style="height:14.45pt;">
  <td nowrap width=28% style="height:14.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,060</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.7%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,754</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.1%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,665</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.2%</font></font></p>
  </td>
 </tr>
<tr style="height:24.6pt;">
  <td nowrap width=28% style="height:24.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other OECD </font></font></p>
  </td>
 <td nowrap width=12% style="height:24.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,779</font></font></p>
  </td>
 <td nowrap width=12% style="height:24.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.1%</font></font></p>
  </td>
 <td nowrap width=12% style="height:24.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,885</font></font></p>
  </td>
 <td nowrap width=12% style="height:24.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.1%</font></font></p>
  </td>
 <td nowrap width=12% style="height:24.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,745</font></font></p>
  </td>
 <td nowrap width=12% style="height:24.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.1%</font></font></p>
  </td>
 </tr>
<tr style="height:14.45pt;">
  <td nowrap width=28% style="height:14.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total OECD </font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22,170</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.3%</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26,718</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.9%</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,211</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.4%</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.45pt;">
  <td nowrap width=28% style="height:14.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Central and South America </font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,720</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.4%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,980</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.6%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,001</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.6%</font></font></p>
  </td>
 </tr>
<tr style="height:14.45pt;">
  <td nowrap width=28% style="height:14.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other </font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,739</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.7%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,787</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.5%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,056</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.6%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=28% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:double black 2.25pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29,629</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.4%</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:double black 2.25pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,485</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.0%</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:double black 2.25pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">25,268</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.5%</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">105</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_111"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table sets forth
the amounts of our cross-border outstandings as of December 31, 2018, 2017 and
2016 by type of borrower where outstandings in the borrower&#8217;s country exceeded
1% of our total assets.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:30.6pt;">
  <td nowrap width=30% style="height:30.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:30.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Governments</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:30.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Banks and Other Financial
  Institutions</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:30.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Commercial, Industrial and
  Other</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:30.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=30% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=70% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">As of December 31, 2018</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">133</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,078</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,217</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,250</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">505</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,304</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,060</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">United Kingdom </font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,215</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">876</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,114</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=30% style="height:12.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:double black 2.25pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,405</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:double black 2.25pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,727</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,258</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,391</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=30% style="height:12.6pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">As of December 31, 2017</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">280</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">61</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,295</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,635</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,211</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,488</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,055</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,444</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">United Kingdom </font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,003</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,441</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,754</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=30% style="height:12.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:double black 2.25pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,491</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:double black 2.25pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,552</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,791</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,833</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=30% style="height:12.6pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">As of December 31, 2016</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">160</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,781</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,947</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">105</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">439</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,120</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,665</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">United Kingdom </font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;-&nbsp;</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,732</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,122</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,854</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=30% style="height:12.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:double black 2.25pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">266</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:double black 2.25pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,176</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,024</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,466</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Bank of Spain requires that minimum
reserves be maintained for cross-border risk arising with respect to loans and
other outstandings to countries, or residents of countries, falling into
certain categories established by the Bank of Spain on the basis of the level of
perceived transfer risk. The category that a country falls into is determined
by us, subject to review by the Bank of Spain.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our exposure to borrowers in countries with difficulties as
defined by the OECD, excluding our exposure to subsidiaries or companies we
manage and trade-related debt, amounted to &#8364;100 million, &#8364;130 million and &#8364;104
million as of December 31, 2018, 2017 and 2016 respectively. These figures do
not reflect loan loss reserves of 38.0%, 19.1% and 35.6% respectively, of the
relevant amounts outstanding at such dates. Deposits with or loans to borrowers
in all such countries as of December 31, 2018 did not in the aggregate exceed
0.01% of our total assets.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The country-risk exposures described in the preceding
paragraph as of December 31, 2018, 2017 and 2016 do not include exposures for
which insurance policies have been taken out with third parties that include
coverage of the risk of confiscation, expropriation, nationalization,
non-transfer, non-convertibility and, if appropriate, war and political
violence. The sums insured as of December 31, 2018, 2017 and 2016 amounted to
$90 million, $124&nbsp;million and $90&nbsp;million, respectively
(approximately &#8364;78 million, &#8364;104 million and &#8364;85 million, respectively, based
on a euro/dollar exchange rate on December 31, 2018 of $1.00 = &#8364;0.87, on
December 31, 2017 of $1.00 = &#8364;0.83, and on December 31, 2016 of $1.00 = &#8364;0.95).
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">106</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_112"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">LIABILITIES</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Deposits</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The principal components of our customer deposits recorded
under &#8220;Financial liabilities at amortized cost&#8221; are domestic demand and savings
deposits and foreign time deposits. The following tables provide information
regarding our deposits recorded under &#8220;Financial liabilities at amortized cost&#8221;
by principal geographic area for the dates indicated.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=23% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 valign=bottom width=77% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap valign=bottom width=23% style="height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Customer Deposits</font></b></font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Bank of Spain and Other
  Central Banks</font></b></font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Other Credit Institutions</font></b></font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=23% style="height:13.5pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 valign=bottom width=77% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Domestic</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">166,403 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26,544</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,563</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">197,510</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 36.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:15.0pt;padding:0cm 45.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 36.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 36.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Western Europe</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22,077 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,545</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">36,621</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">The United States</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">62,539 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">61</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,379</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">66,979</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">50,991 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">133</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">566</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51,690</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33,427 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">212</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,323</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,963</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">South America</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">37,970 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">330</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,335</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40,635</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=23% style="height:15.75pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.75pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,563 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.75pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.75pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,268</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.75pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,831</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">209,567</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">737</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27,415</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">237,719</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=23% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">375,970</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27,281</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">31,978</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">435,229</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=DE style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=23% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 valign=bottom width=77% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap valign=bottom width=23% style="height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Customer Deposits</font></b></font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Bank of Spain and Other
  Central Banks</font></b></font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Other Credit Institutions</font></b></font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 valign=bottom width=77% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Domestic</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">165,559 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">28,044</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,518</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">199,121</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 36.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:15.0pt;padding:0cm 45.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 36.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 36.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Western Europe</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22,177 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">101</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,849</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">57,128</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">The United States</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">58,164 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">87</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,961</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">62,212</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">52,387 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,316</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,429</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">58,132</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">36,815 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,713</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">953</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">41,482</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">South America</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38,764 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,792</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,999</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">43,555</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,511 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,806</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,317</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">210,819</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,010</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">48,998</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">268,826</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=23% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">376,379</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">37,054</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">54,516</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">467,949</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=DE style="font-size:10.0pt;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">107</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_113"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=23% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 valign=bottom width=77% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap valign=bottom width=23% style="height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Customer Deposits</font></b></font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Bank of Spain and Other
  Central Banks</font></b></font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Other Credit Institutions</font></b></font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 valign=bottom width=77% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Domestic</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">161,022 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26,602</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,768</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">194,392</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 36.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:15.0pt;padding:0cm 45.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 36.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 36.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Western Europe</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">30,949 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">101</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38,338</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">69,388</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">The United States</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">62,311 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,040</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">67,388</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">54,117 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,400</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,663</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">60,180</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38,211 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,191</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,463</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">42,865</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">South America</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">50,282 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,407</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,035</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">56,724</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 38.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,572 </font></font></p>
  </td>
 <td valign=bottom width=20% style="height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,194</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,766</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=23% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">240,442</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,138</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">56,733</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">305,312</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=23% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">401,465</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 47.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,740</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">63,501</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">499,706</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For an analysis of our deposits recorded under &#8220;Financial liabilities
at amortized cost&#8221;, including non-interest bearing demand deposits,
interest-bearing demand deposits, saving deposits and time deposits, see Note
22 to our Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, the maturity of our time deposits recorded
under &#8220;Financial liabilities at amortized cost&#8221; (excluding interbank deposits)
in denominations of $100,000 or greater was as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td width=41% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=59% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Domestic</font></b></font></p>
  </td>
 <td width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Foreign</font></b></font></p>
  </td>
 <td width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=59% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3 months or under </font></font></p>
  </td>
 <td nowrap width=20% style="height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,361</font></font></p>
  </td>
 <td nowrap width=19% style="height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40,513</font></font></p>
  </td>
 <td nowrap width=20% style="height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">45,873</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Over 3 to 6 months </font></font></p>
  </td>
 <td nowrap width=20% style="height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,575</font></font></p>
  </td>
 <td nowrap width=19% style="height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,744</font></font></p>
  </td>
 <td nowrap width=20% style="height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,319</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Over 6 to 12 months </font></font></p>
  </td>
 <td nowrap width=20% style="height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,083</font></font></p>
  </td>
 <td nowrap width=19% style="height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,320</font></font></p>
  </td>
 <td nowrap width=20% style="height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,403</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Over 12 months </font></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,281</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,447</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,729</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:double black 2.25pt;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,300</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:double black 2.25pt;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">61,025</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:double black 2.25pt;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">77,324</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Time deposits at amortized cost from Spanish and foreign
financial institutions amounted to &#8364;19,015 million as of December 31, 2018,
substantially all of which were in excess of $100,000.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Large denomination deposits may be a less stable source of
funds than demand and savings deposits because they are more sensitive to
variations in interest rates. For a breakdown by currency of customer deposits
as of December 31, 2018, 2017 and 2016 see Note 22 to our Consolidated
Financial Statements.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">108</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_114"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Short-term Borrowings</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Securities sold under agreements to repurchase and
promissory notes issued by us constituted the only categories of short-term
borrowings that equaled or exceeded 30% of stockholders&#8217; equity as of December
31, 2018, 2017 and 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table provides information about our total
short-term borrowings recorded under &#8220;Financial liabilities at amortized cost&#8221; for
the years ended December 31, 2018, 2017 and 2016:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td valign=bottom width=28% style="background:white;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 rowspan=2 valign=bottom width=23% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">As of and for the Year Ended
  December 31, 2018 (1)</font></b></font></p>
  </td>
 <td valign=bottom width=3% style="background:white;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:12.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 rowspan=2 valign=bottom width=22% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">As of and for the Year Ended
  December 31, 2017</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 rowspan=2 valign=bottom width=22% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">As of and for the Year Ended
  December 31, 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=28% style="background:white;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=3% style="background:white;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=28% style="background:white;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=12% style="background:white;border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Amount</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average rate</font></b></font></p>
  </td>
 <td valign=bottom width=3% style="background:white;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Amount</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average rate</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Amount</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average rate</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=28% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=8 valign=bottom width=72% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(In Millions of Euro, Except
  Percentages)</font></b></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td valign=top width=28% style="background:white;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Securities sold under agreements to repurchase:</font></b></font></p>
  </td>
 <td valign=top width=12% style="background:white;height:36.0pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=11% style="background:white;height:36.0pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=3% style="background:white;height:36.0pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=11% style="background:white;height:36.0pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=11% style="background:white;height:36.0pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=28% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">As of end of period</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,524</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.3%</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33,208</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.7%</font></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">39,682</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.6%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=28% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average during period</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,836</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.7%</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">32,475</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.4%</font></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">39,589</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.4%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=28% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Maximum quarter-end balance </font></font></p>
  </td>
 <td nowrap valign=top width=12% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,155</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33,863</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">41,399</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;-&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=28% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Bank promissory notes:</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=28% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">As of end of period</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">449</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.1%</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,462</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.7%</font></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,033</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.2%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=28% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average during period </font></font></p>
  </td>
 <td nowrap valign=top width=12% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">580</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.6%</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">704</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.0%</font></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">883</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.7%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=28% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Maximum quarter-end balance </font></font></p>
  </td>
 <td nowrap valign=top width=12% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,036</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,462</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,079</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;-&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=28% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Bonds and subordinated debt:</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=28% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">As of end of period</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,633</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.6%</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,321</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.8%</font></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,708</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.7%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=28% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Average during period</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,775</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.6%</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,717</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.4%</font></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,092</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.5%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=28% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Maximum quarter-end balance </font></font></p>
  </td>
 <td nowrap valign=top width=12% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,633</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,848</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,016</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;-&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=top width=28% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total short-term borrowings as of end of period</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="background:white;border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22,606</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.1%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=3% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38,991</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.1%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=2% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">55,423</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.1%</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160;&#160;&#160;
Following the implementation of IFRS 9 on January 1, 2018, certain securities
sold under agreements to repurchase which were accounted for as &#8220;Financial
liabilities at amortized cost&#8221; as of December 31, 2017 were reclassified to
&#8220;Financial liabilities held for trading&#8221; and are not shown in the table.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, the
securities sold under agreements to repurchase were mainly Mexican and Spanish
treasury bills. As of December 31, 2017 and 2016, the securities sold under agreements
to repurchase were mainly Spanish treasury bills.</font></font><font style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">109</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_115"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Return Ratios</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table sets out our return ratios for the years ended
December 31, 2018, 2017 and 2016:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=36% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=64% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As&nbsp;of&nbsp;or&nbsp;for&nbsp;the
  Year&nbsp;Ended&nbsp;December&nbsp;31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=36% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=22% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=36% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=64% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Percentages)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=36% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Return on equity (1) </font></font></p>
  </td>
 <td nowrap valign=bottom width=22% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10.1%</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.7%</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.7%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=36% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Return on assets (2) </font></font></p>
  </td>
 <td nowrap valign=bottom width=22% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.9%</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.7%</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.6%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=36% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Dividend pay-out ratio (3)</font></font></p>
  </td>
 <td nowrap valign=bottom width=22% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">31.3%</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">32.0%</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">36.1%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=36% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Equity to assets ratio (4) </font></font></p>
  </td>
 <td nowrap valign=bottom width=22% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7.8%</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7.7%</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7.6%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160;&#160; Represents
profit attributable to parent company for the year as a percentage of average
stockholders&#8217; funds for the year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160;&#160;&#160; Represents
profit attributable to parent company as a percentage of average total assets
for the year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160;&#160;&#160; Represents
dividends declared by BBVA (including the cash remuneration paid under the
&#8220;Dividend Option&#8221; scheme) as a percentage of profit attributable to parent
company. This ratio does not take into account the non-cash remuneration paid
by BBVA under the &#8220;Dividend Option&#8221; scheme (in the form of BBVA shares or
ADSs). See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8220;&#8212;Business Overview&#8212;Supervision and Regulation&#8212;Scrip Dividend&#8221;
and &#8220;Item 8. Financial Information&#8212;Consolidated Statements and Other Financial
Information&#8212;Dividends&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(4)&#160;&#160;&#160;
Represents average total equity over average total assets.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EQUITY</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Accumulated other
comprehensive income (loss)</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, the accumulated other comprehensive
loss amounted to &#8364;7,215 million, a 4.0% increase compared to the &#8364;6,939 million
recorded as of December 31, 2017. As of December 31, 2016, the accumulated
other comprehensive loss amounted to &#8364;3,622 million.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The majority
of the balance is related to the conversion to euros of the financial
statements balances from consolidated entities whose functional currency is not
the euro.</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;line-height:200%;">F.&#160;&#160; Competition</font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The commercial banking sector in
Spain has undergone significant consolidation. In the majority of the markets
where we provide financial services, the Banco Santander Group is our largest
competitor, but the restructuring processes that have been underway for several
years have increased the size of certain banks, such as Bankia (an integration
of seven regional saving banks, led by Caja Madrid), Caixabank (which acquired
Banco de Valencia, Banca C&#237;vica and Barclays&#8217;s Spanish operations) and Banco
Sabadell. Furthermore, in June 2017, Banco Santander announced the acquisition
of 100% of the share capital of Banco Popular as part of the resolution
strategy adopted by the Single Resolution Board (SRB) for the latter. This has
further increased the market share of Banco Santander in Spain.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We face strong competition in
all of our principal areas of operations. The low interest rate environment
which depresses interest income and the ongoing de-leveraging process makes
competition quite fierce in the Spanish market. In particular, competition is
particularly intense in the credit market for lending to small and medium
enterprises (SMEs), where new credit interest rates have fallen from an average
of 5.5% between January 2012 and May 2014 to around 2.5% in December 2018,
barely exceeding credit costs.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, in the aftermath of
the financial crisis, the need for a more balanced funding structure led to
increased competition for deposits in Spain. While the low interest rate
environment has depressed deposits&#8217; remuneration, there seems to be a zero
interest rate floor as deposit rates are not entering negative territory.
Former Spanish savings banks, many of which have become commercial banks and
received financial or other forms of support from the Spanish government and
the European Stability Mechanism, and money market mutual funds provide strong
competition for savings deposits and, in the case of savings banks, for other
retail banking services.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Credit cooperatives, which are
active principally in rural areas where they provide savings and loan services
and related services such as the financing of agricultural machinery and
supplies, are also a source of competition. The entry of &#8220;fintech companies&#8221;
and online banks into the Spanish banking system has also increased
competition, especially in payment services. Insurance companies and other
financial service firms also compete for customer funds. Like commercial banks,
former savings banks, insurance companies and other financial service firms are
expanding the services offered to consumers in Spain. We face competition in
mortgage loans from savings banks and, to a lesser extent, cooperatives.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In
Spain and in Europe, changes in banking regulation could have a significant
potential impact on competition in the near future. The EU Directive on
Investment Services took effect on December 31, 1995. The EU Directive permits
all brokerage houses authorized to operate in other member states of the EU to
carry out investment services in Spain. Although the EU Directive is not
specifically addressed to banks, it affects the activities of banks operating
in Spain. Several initiatives have also been implemented in order to facilitate
the creation of a Pan-European financial market, including the SEPA (Single
Euro Payments Area), which is a payment-integration initiative for
simplification of bank transfers, direct debits and payment cards mainly within
the EU, and MiFID (Markets in Financial Instruments Directive), complemented
with the introduction of MiFID II in January 2018, which aims to create a
European framework for investment services. In addition, decisive steps are
being taken towards achieving a banking union in Europe. The ECB started to
work as a single supervisor in November 2014, supervising more than 120
entities (including BBVA) in the Eurozone. Moreover, the foundations of a
single resolution mechanism were set with the agreement on the regulation and
contributions to the Single Resolution Fund and the appointment of the SRB
which is operational since January 1, 2015. A new instrument of bank direct
recapitalization was created within the ESM. The bail-in tool included in the
BRRD entered into force on January 1, 2016. In November 2015, the European
Commission put forward a proposal for a European Deposit Insurance Scheme
(EDIS), which intends to provide a stronger and more uniform degree of
insurance coverage for all retail depositors in the banking union, as a further
step to a fully operational European banking union.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Following recent periods of
financial turmoil, a number of banks have disappeared or have been absorbed by
other banks. We believe this trend will likely continue in the future, with a
number of mergers and acquisitions between financial entities both in Spain and
at the European level. In Spain, the recapitalization of several entities with
public funds and their subsequent privatization, with the purpose of achieving
a stronger banking sector, has intensified this process. In this vein, Bankia
and BMN merged in December 2017 and Unicaja Banco and Liberbank are currently
discussing the terms of their merger. In the United States, the government has
facilitated the purchase of troubled banks by other competitors in the context
of the financial crisis, and European governments, including the Spanish
government, have also expressed their willingness to facilitate these types of
operations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the United States we operate
primarily through BBVA Compass. The performance and health of the U.S. banking
system continued to improve in 2018, supported by strong job creation, higher
real incomes, solid private investment and higher interest rates. In addition,
financial institutions benefited from lower corporate tax rates enacted at the
end of 2017. As a result, during the first three quarters of 2018, net interest
income for all FDIC-insured institutions reached an all-time high of $401.7
billion, while provisions for loan and lease losses declined 4% year-on-year to
$36 billion. Meanwhile, applicable income taxes for these institutions declined
$14.8 billion or 23.6% year-over-year. These trends boosted net income for
these institutions by almost $40 billion, an increase of 27.4% year-over-year.
In fact, in the third quarter of 2018, average return on assets for these
institutions reached 1.41%, the highest ratio since 1986. We expect commercial
banks in the United States to continue benefiting from a favorable environment
in the short-term, albeit without the one-off effect from lower corporate
taxes. Going forward, U.S. banks will be operating in an environment that
becomes gradually more challenging as the credit cycle matures further, cost of
funds increase and competition from online banks and non-banks intensifies.<a name=gjdgxs></a><a name=j0zll></a><a name="gjdgxs_bclEnd"></a><a name="j0zll_bclEnd"></a></font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In Turkey, where we
operate through Garanti, the three public banks that operate in the country
accounted for 39% of the total assets of financial institutions as of December
31, 2018, whereas private banks (including Garanti) accounted for 61%.
Development banks and participation banks (banks that operate under the ethos
of Islamic banking) together accounted for 12% of the total. 2018 was a year of
significant macroeconomic slow-down, particularly following the financial shock
during the summer of 2018. TL lending (i.e., loans denominated in Turkish lira)
growth decelerated to as low as 2% by the end of 2018 after the strong growth
rate of 25% in 2017. TL lending to corporations grew by only 1%, while consumer
loans registered a 3% growth and credit cards grew by 15%, mainly as a result
of the higher inflation. Consequently, credit growth adjusted for the exchange
rate depreciation slowed-down to 3% in 2018 from its solid 20% growth in 2017.
Total customer deposits grew by 19% during the year. The growth in TL customer
deposits (i.e., customer deposits denominated in Turkish lira) surpassed the
weak TL lending growth, and increased by 10% year-on-year. In contrast, foreign
currency denominated customer deposits shrank by 6% in U.S. dollars terms.
Thus, TL loan-to-deposit ratio diminished to 137% in 2018 from 148% in 2017,
while the same ratio in foreign currency rose to 96% from 90%.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In
Mexico, where we operate through BBVA Bancomer, the banking industry remained
solvent. Total bank lending to the private sector decreased from an annual
average growth of 12.8% in 2017 to 12.0% in 2018.&#160; This nominal decrease was
due to a lower inflation rate, since total lending showed a moderate annual
increase in real terms from an average of 6.4% in 2017 to 6.7% in 2018. The
moderate performance of economic activity, employment and income in 2018
restricted the dynamism of household lending. Credit to consumption decreased
its annual average real growth rate from 3.7% in 2017 to 2.1% in 2018 while
mortgages showed a slight recovery (from an average real growth rate of 3.6% in
2017 to a real growth rate of 3.7% in 2018). Corporate lending was the main
source of growth in total credit to the private sector, because of the
substitution of external financing sources for internal credit granted by
commercial banks. The growth rate for traditional bank deposits decreased from
2017 to 2018 (11.5% compared to 10.0%, respectively, in nominal terms and 5.2%
compared to 4.8%, respectively, in real terms), despite the higher dynamism
observed in term deposits (which was fueled by higher interest rates).
Concerning solvency, the overall capitalization level of the Mexican banking
system reached 15.7% as of November 30, 2018, well above the minimum regulatory
requirement.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">At December 31, 2018, the Mexican
banking sector had 50 operating banks, three more than the previous year. Those
that started operations were Banco Shinan (January 2018), Banco S3 (March 2018)
and Bank of China (July 2018). In addition, Banorte and Banco Interacciones
ended their merger process (July 2018). This merger put Banorte as the second
larger bank in the system (by total assets), just below BBVA Bancomer, while
Santander kept the third position and Citi-Banamex fell to the fourth. As a
market leader, we face strong competition in all of our principal business
lines. The most relevant change in 2018 was the loss of our market leader
position in the credit card segment to Banamex.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In
Mexico, changes in banking regulation could have a significant potential impact
on competition in the near future. The most relevant regulatory developments in
2018 and early 2019 include the following:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#9679;&#160;&#160;&#160;&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On March 9,
2018 the Fintech Law was passed. The law creates and regulates Financial
Technology Institutions, which may engage in either crowdfunding or the issue
of e-money. The law also tasks the Bank of Mexico with regulating the
recognition and use of virtual assets. The law also introduces a regime of
&#8220;innovative models for the provision of financial services&#8221; that will enable
financial institutions (including fintechs), as well as other startups, to
offer financial services for the benefit of users in a regulatory sandbox.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#9679;&#160;&#160;&#160;&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On September
10, 2018, the CNBV (National Banking and Securities Commission) issued the
secondary regulation of the Fintech Law (Fintech Circular). The regulation
establishes accounting principles, financial reporting and disclosure
requirements and prudential standards relating to minimum capital, cash deposit
limits and international transfers by Electronic Payment Funds Institutions, as
well as limits for projects that can be published on Collective Finance
Institutions&#8217; platforms and diversification requirements for their investors.
It also establishes requirements for the methodologies to be used in the
evaluation, selection and classification of crowdfunding applicants and
projects. On the same day, the Bank of Mexico published rules limiting transactions
in foreign currencies by Electronic Payment Funds Institutions. These rules
establish a regime for prompt refund of clients&#8217; unrecognized charges and
requires such institutions to participate in a payment system when warranted by
the scale of their operations. Lastly, the Secretariat of Finance (SHCP)
extended to the fintech system the anti-money laundering and control of
terrorism financing regime that already applied to the rest of the financial
system.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#9679;&#160;&#160;&#160;&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On October
29, 2018, the Bank of Mexico published Circular 15/2018 regarding the use of
wages and salaries in support of financial services contracted by workers. This
reform aims to ensure that employees can use their payroll deposits as a source
of repayment of loans contracted with any bank on the same terms as those of
the bank that administers the payroll account. This regulation seeks to cover
the risk associated with the movement of salary accounts to other banks after a
loan has been granted. It also seeks to facilitate the procedures required to
allow employees to make such movements.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#9679;&#160;&#160;&#160;&#160;&#160; On</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> November 8, 2018, the ruling-party&#8217;s majority leader in
the Senate presented a bill to severely restrict banks&#8217; fees. Although the bill
was unexpected, its momentum appears to have faded and now seems on hold. In
its place there is now a new coordinated effort between banks, the Secretar&#237;a
de Hacienda y Cr&#233;dito P&#250;blico (SHCP) and the Bank of Mexico, which includes a
broader and more comprehensive approach, and that aims to deal with banks&#8217; fee
structure, along with Mexico&#8217;s deficit on financial inclusion and the country&#8217;s
excessive use of cash.&#160; The results of this effort, which should be made public
in the short term, are expected to benefit consumers without the significant
consequences to the provision of banking services as the outright banning of
fees would have had.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#9679;&#160;&#160;&#160;&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Early in
2019, CoDi (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Digital Charge</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">), a new digital payment system was unveiled
by the Bank of Mexico which is intended to enable secure, immediate and free
payments through mobile devices to its members. CoDi is intended to allow
currently-unacquired merchants to access a modern payment system, and consumers
to reduce their reliance on cash for everyday transactions.&#160; CoDi has
significant potential for financial inclusion and opens-up a new space for bank
competition for the benefit of consumers.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In recent years, the global
financial services sector has undergone significant transformation in relation
to the development of the Internet and mobile and other exponential
technologies and the entrance of new players into activities previously
provided in the main by financial institutions. Whereas commercial banks were
previously almost the sole providers of the whole range of financial products,
from credit to deposits, or payments and investment services, today, a set of
non-bank digital providers compete (and cooperate) among each other and with
banks in the provision of financial services. These new fintech providers can
be startup firms that are specialized in a specific service or niche of the
financial services market, or large digital players (known as BigTechs).
BigTech companies such as Amazon, Facebook and Apple have also started to offer
financial services (mainly, in relation to payments and credit) ancillary to
their core business.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In this new competitive
environment, banks and other players are calling for a level playing field that
ensures fair competition among the different financial services providers.
Regulations on consumer protection and the integrity of the financial system
(such as anti-money laundering regulations or regulations for combating the
financing of terrorism) are generally activity-specific and, therefore, meet
the principle of a level playing field, except for some exemptions based on the
size of the firm. However, with regards to financial stability, banking groups
are subject to prudential regulations that have implications for most of their
activities, including those in which they compete with non-bank players that
are only subject to activity-specific regulations, at best, or not regulated at
all. Therefore, the scope of the perimeter of prudential consolidation to which
the prudential regulation and supervision in the EU applies compromises the
level playing field principle by requiring banking groups to apply
banking-level controls to all subsidiaries, no matter their activities and
actual risks involved. Restrictions on the activity of bank players, for
instance as regards remuneration rules or internal governance requirements,
leave EU banks at a competitive disadvantage as regards cost, time-to-market or
talent attraction compared to their competitors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Existing loopholes in the
regulatory framework are another cause of an uneven playing field between banks
and non-bank players. Some new services or business models are not yet subject
to existing regulations. In such cases, not only are potential risks to
financial stability, consumer protection and the integrity of the financial
system unaddressed, but asymmetries may arise between players since regulated
providers often face obstacles that unregulated providers do not.</font></font></p>

<h2 style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;line-height:200%;">G.&#160;&#160; Cybersecurity and
Fraud Management</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Corporate Security &amp; Engineering Risk (CS&amp;ER)
Operations team handles the main operational cybersecurity policies and
measures regarding the Group&#8217;s global infrastructures, digital channels and
payments methods with a holistic and threat intelligence-led approach.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Global Computer Emergency
Response Team (CERT) is the Group&#8217;s first line of detection and response to
cyberattacks aimed to global users and the Group&#8217;s infrastructures, combining
information on cyber threats from our Threat Intelligence unit. The Global
CERT, which is based in Madrid, is made up of approximately 100 people and
provides services in all countries where the Group operates. We are currently
in the process of harmonizing the catalogue of services that the Global CERT
provides to our subsidiaries worldwide and we expect to complete such process
by the end of 2019. The Global CERT operates 24x7, with operation lines
dedicated to fraud and cybersecurity.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">During 2018, the Group detected an increase in cyberattack attempts
across the entire Group, especially phishing attacks, none of which were
considered to be material. As cyberattacks evolve and become more
sophisticated, the Group has had to strengthen its prevention and
monitorization efforts. As part of such efforts, BBVA routinely reviews,
reinforces and tests its security processes and procedures through simulation
exercises in the areas of physical security and digital security. The outcome
of such exercise is a fundamental part of a feedback process designed to
improve the Group&#8217;s cybersecurity strategies.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group also tests its continuity plans in order to improve disaster
recovery in instances where an incident or vulnerability threatens the
continuity of one or several critical processes, services or platforms.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other lines of action also include the adequate training of BBVA&#8217;s board
members in the area of security and incident management. Each year BBVA carries
out simulation exercises in order to raise the level of awareness and
preparedness of certain key personnel.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Cybersecurity efforts are frequently undertaken in close
coordination with our fraud prevention efforts and there are considerable
interactions and synergies between the relevant teams. As part of our efforts
to monitor fraud evolution and to actively support the deployment of adequate
anti-fraud policies and measures, we have a Corporate Fraud Committee that </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">oversees the evolution of all external and internal fraud
types in all </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">countries where the Group operates. Its functions include:
(i) actively monitoring fraud risks and mitigation plans; (ii) evaluating the
impact thereof on the Group&#8217;s business and customers; (iii) monitoring relevant
fraud facts, events and trends; (iv) monitoring accrued fraud cases and losses;
(v) carrying out internal and external benchmarking; and (vi) monitoring
relevant fraud incidents in the financial industry.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Corporate Fraud Committee is chaired by the Global Head
of Engineering. The composition of this committee is quite broad and includes
representatives from various units (in particular, </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Global
Risk Management -&nbsp;Retail Credit, Global Risk Management&nbsp;-
Non-Financial Risk, Finance, Internal Audit, Corporate Security, Client
Solutions &#8211; Payments, Country Monitoring and Engineering Deployment). </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
Corporate Fraud Committee is convened three times per year.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We maintain cybersecurity and fraud insurance policies in
respect of each of our subsidiaries. These insurance policies are subject to
certain loss limits, deductions and exclusions and we can provide no assurance
that all losses related to a cybersecurity or fraud incident will be covered
under our policies.</font></font></p>

<h1 style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM
4A.&#160;&#160;&#160;&#160;&#160; UNRESOLVED STAFF COMMENTS</font></b></font></h1>

<p style="-sec-extract:summary;border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">None.</font></font></p>

<h1 style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 5.&#160;&#160;&#160;&#160;&#160; OPERATING AND FINANCIAL REVIEW AND PROSPECTS</font></b></font></h1>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">Overview</font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The BBVA Group is a
customer-centric global financial services group founded in 1857. It has a
solid leadership position in the Spanish market, it is the largest financial
institution in Mexico in terms of assets, it has leading franchises in South
America and the Sunbelt Region of the United States and it is the leading
shareholder in Garanti, Turkey&#8217;s biggest bank in terms of market
capitalization. Its diversified business is focused on high-growth markets and
it relies on technology as a key sustainable competitive advantage. Corporate
responsibility is at the core of its business model. BBVA fosters financial
education and inclusion, and supports scientific research and culture.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
BBVA Group operates in Spain through Banco Bilbao Vizcaya Argentaria, S.A., a
private-law entity subject to the laws and regulations governing banking
entities operating in Spain. It carries out its activity through branches and
agencies across the country and abroad. In addition to the transactions it
carries out directly, Banco Bilbao Vizcaya Argentaria, S.A. is the parent
company of the BBVA Group, which includes a group of subsidiaries, joint
ventures and associates performing a wide range of activities.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><a name="_cp_text_1_635"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of
December 31, 2018, the BBVA Group had 125,627 employees, 74.5 million
customers, 7,963 branches and 32,029 ATMs and was present in more than 30
countries. As of such date the BBVA Group was composed of 297 consolidated
entities and 66 entities accounted for using the equity method.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Critical Accounting Policies</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><a name="_cp_text_1_271"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
Consolidated Financial Statements as of and for the years ended December 31,
2018, 2017 and 2016 were prepared by the Bank&#8217;s directors in compliance with
IFRS-IASB and in accordance with EU-IFRS required to be applied under the Bank
of Spain&#8217;s Circular 4/2017 and Circular 4/2004, and by applying the basis of
consolidation, accounting policies and measurement bases described in Note 2 to
the Consolidated Financial Statements, so that they present fairly the Group&#8217;s
total equity and financial position as of December 31, 2018, 2017 and 2016, and
its results of operations and consolidated cash flows for the years ended
December 31, 2018, 2017 and 2016. The Consolidated Financial Statements were
prepared on the basis of the accounting records kept by the Bank and by each of
the other Group companies and include the adjustments and reclassifications
required to unify the accounting policies and measurement bases used by the
Group. See Note 2.2 to our Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In preparing the Consolidated
Financial Statements, estimates were made by the Group and the consolidated
companies in order to quantify certain of the assets, liabilities, income,
expenses and commitments reported herein. These estimates relate mainly to the
following:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The impairment on certain financial
assets.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The assumptions used to quantify other
provisions and for the actuarial calculation of the post- employment benefit
liabilities and commitments.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The useful life and impairment losses
of tangible and intangible assets.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The valuation of goodwill and price
allocation of business combinations.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The fair value of certain unlisted
financial assets and liabilities.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The recoverability of deferred tax
assets.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Although these estimates were made on the basis of the best
information available as of December 31, 2018, 2017 and 2016, respectively,
events that take place in the future might make it necessary to revise these
estimates (upwards or downwards) in coming years.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Note 2 to our Consolidated Financial Statements contains a
summary of our significant accounting policies. We consider certain of these
policies to be particularly important due to their effect on the financial
reporting of our financial condition and results of operations and because they
require management to make difficult, complex or subjective judgments, some of
which may relate to matters that are inherently uncertain. Our reported
financial condition and results of operations are sensitive to accounting
methods, assumptions and estimates that underlie the preparation of our
Consolidated Financial Statements. The nature of critical accounting policies,
the judgments and other uncertainties affecting application of those policies
and the sensitivity of reported results to changes in conditions and
assumptions are factors to be considered when reviewing our Consolidated
Financial Statements and the discussion below.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We have identified the accounting policies enumerated below
as critical to the understanding of our financial condition and results of
operations, since the application of these policies requires significant
management assumptions and estimates that could result in materially different
amounts to be reported if the assumptions used or underlying circumstances were
to change.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See Note 2.3 to our
Consolidated Financial Statements for information on changes to IFRS or their
interpretation that will become effective after the date of this Annual Report.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial instruments</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As we describe in Note 1.3 to our Consolidated Financial
Statements, IFRS 9 became effective as of January 1, 2018 and replaced IAS 39
regarding the classification and measurement of financial assets and
liabilities, the impairment of financial assets and hedge accounting. As
permitted by the standard, IFRS 9 has not been applied retrospectively for
previous years and financial information relating to 2017 and 2016 is presented
in accordance with IAS 39 except for certain non-significant modifications in
order to improve its comparability with financial information for 2018. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Presentation
of Financial Information&#8212;Application of IFRS 9&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. The explanations included
in this section refer to IFRS 9. For information regarding the classification
and measurement of financial instruments under IAS 39, see Note 2.2.1 to our
Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Classification and
measurement of financial assets</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Classification of financial
assets</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IFRS 9 contains three main categories for the
classification of financial assets: measured at amortized cost, measured at
fair value through other comprehensive income, and measured at fair value
through profit or loss.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The classification of financial
assets must be carried out on the basis of two tests: the entity&#8217;s business
model and the assessment of the contractual cash flow, commonly known as the
&#8220;solely payments of principle and interest&#8221; criterion (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SPPI</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). A
debt instrument will be classified in the amortized cost portfolio if the two
following conditions are fulfilled:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the financial asset is managed with a
business model, the purpose of which is to maintain financial assets to receive
contractual cash flows; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">in accordance with the contractual
characteristics of the instrument, the cash flows it generates represent the
return on the principal and interest only, as consideration for the time value
of money and the debtor&#8217;s credit risk.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A debt instrument will be
classified in the portfolio of financial assets at fair value through other
comprehensive income if the two following conditions are fulfilled:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the financial asset is managed with a
business model, the purpose of which combines the collection of contractual
cash flows and the sale of assets, and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the contractual characteristics of the
instrument generate, at specific dates, cash flows which only represent the
return of the principal and interest.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A debt instrument will be classified at fair value through
profit or loss when the business model used for its management or the
contractual characteristics relating to its cash flows do not require
classification into one of the portfolios described above.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In general, equity instruments will be measured at fair
value through profit or loss. However the Group may make an irrevocable
election at their initial recognition to present subsequent changes in their
fair value through other comprehensive income.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets will only be reclassified when BBVA Group
decides to change the relevant business model. In such a case, all of the
financial assets assigned to the relevant business model will be reclassified.
The change of the objective of the business model should occur before the date
of the reclassification.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Valuation of financial assets</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">All financial instruments are initially recognized at fair
value plus, in the case of a financial asset not at fair value through profit
or loss, transaction costs that are directly attributable to the acquisition or
issue of the instrument.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Excluding all trading
derivatives not considered as accounting or economic hedges, all the changes in
the fair value of financial instruments arising from the accrual of interest
and similar items are recognized under the headings &#8220;Interest and other income&#8221;
or &#8220;Interest expense&#8221;, as appropriate, in the consolidated income statement in
the period in which the change occurred (see Note 37 to our Consolidated
Financial Statements). The changes in fair value after the initial recognition,
for reasons other than those mentioned in the preceding sentence, are treated
as described below, according to the categories of financial assets.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Financial assets held for
trading&#8221;, &#8220;Non-trading financial assets mandatorily at fair value through
profit or loss&#8221; and &#8220;Financial assets designated at fair value through profit
or loss&#8221;</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets are recorded under the heading &#8220;Financial
assets held for trading&#8221; if the objective of the business model is to generate
gains by buying and selling these financial instruments or generate short-term
results. Financial assets recorded under the heading &#8220;Non-trading financial
assets mandatorily at fair value through profit or loss&#8221; are assigned to a
business model which objective is to obtain the contractual cash flows and / or
to sell those instruments but their contractual cash flows do not comply with
the requirements of the SPPI test. The Group only classifies financial assets
in &#8220;Financial assets designated at fair value through profit or loss&#8221; if such
classification results in the elimination or significant reduction of a
measurement or recognition inconsistency (an &#8216;accounting mismatch&#8217;) that would
otherwise arise from measuring financial assets or financial liabilities, or
recognizing gains or losses on them, on different bases.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The assets recognized under these headings of the
consolidated balance sheet are measured upon acquisition at fair value and
changes in their fair value (gains or losses) are recognized at their net value
under the heading &#8220;Gains (losses) on financial assets and liabilities, net&#8221; in
the consolidated income statement (see Note 41 of our Consolidated Financial
Statements). Interest from derivatives designated as economic hedges on interest
rates are recognized in &#8220;Interest and other income&#8221; or &#8220;Interest expense&#8221; (see
Note 37 to our Consolidated Financial Statements), depending on the result of
the hedging instrument. However, changes in fair value resulting from
variations in foreign exchange rates are recognized under the heading &#8220;Gains
(losses) on financial assets and liabilities, net&#8221; in the consolidated income
statement (see Note 41 to our Consolidated Financial Statements).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Financial assets at fair value
through other comprehensive income&#8221;</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Debt instruments</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Assets recognized under this heading in the consolidated
balance sheet are measured at their fair value. Subsequent changes in fair
value (gains or losses) are recognized temporarily net of tax effect, under the
heading &#8220;Accumulated other comprehensive income- Items that may be reclassified
to profit or loss &#8211; Fair value changes of debt instruments measured at fair
value through other comprehensive income&#8221; in the consolidated balance sheet
(see Note 30 to the Consolidated Financial Statements).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The amounts recognized under the headings &#8220;Accumulated
other comprehensive income- Items that may be reclassified to profit or loss -
Fair value changes of financial assets measured at fair value through other
comprehensive income&#8221; and &#8220;Accumulated other comprehensive income- Items that
may be reclassified to profit or loss - Exchange differences&#8221; continue to form
part of the Group&#8217;s consolidated equity until the corresponding asset is
derecognized from the consolidated balance sheet or until an impairment loss is
recognized on the corresponding financial instrument. If these assets are sold,
these amounts are derecognized and included under the headings &#8220;Gains (losses)
on financial assets and liabilities, net&#8221; or &#8220;Exchange differences, net&#8221;, as appropriate,
in the consolidated income statement for the period in which they are
derecognized (see Note 41 to the Consolidated Financial Statements).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The net impairment losses in &#8220;Financial assets at fair
value through other comprehensive income&#8221; over the reported year are recognized
under the heading &#8220;Impairment losses on financial assets, net &#8211; Financial
assets at fair value through other comprehensive income&#8221; (see Note 47 to our
Consolidated Financial Statements) in the consolidated income statement for
that period.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in foreign exchange rates which affect monetary
items are recognized under the heading &#8220;Exchange differences, net&#8221; in the
consolidated income statement (see Note 41 to our Consolidated Financial
Statements).</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Equity
instruments</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The BBVA Group may, at the time of initial recognition,
elect to present changes in the fair value of an investment in an equity
instrument that is not held for trading in other comprehensive income. The
election is irrevocable and can be made on an instrument-by-instrument basis.
Subsequent changes in fair value (gains or losses) are recognized, under the
heading &#8220;Accumulated other comprehensive income (loss) &#8211; Items that will not be
reclassified to profit or loss &#8211; Fair value changes of equity instruments measured
at fair value through other comprehensive income&#8221;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Financial assets at amortized
cost&#8221;</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Subsequently after acquisition, a financial asset is
classified and measured at amortized cost if it is held within a business model
whose objective is to hold financial assets in order to collect contractual
cash flows and it meets the SPPI test.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The assets under this category are subsequently measured at
amortized cost, using the effective interest rate method.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net impairment losses of assets recorded under this heading
arising in each period are recognized under the heading &#8220;Impairment or reversal
of impairment on financial assets not measured at fair value through profit or
loss or net gains by modification &#8211; Financial assets measured at amortized
cost&#8221; (see Note 47 to our Consolidated Financial Statements) in the
consolidated income statement for that period.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Classification and
measurement of financial liabilities</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Classification of financial
liabilities</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under IFRS 9, financial
liabilities are classified in the following categories:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial liabilities at amortized
cost;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial liabilities held for trading:
financial instruments are recorded in this category when the Group&#8217;s objective
is to generate gains by buying and selling these financial instruments; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial liabilities designated at
fair value through profit or loss on initial recognition under the fair value
option. The Group has the option to designate irrevocably on initial
recognition a financial liability as at fair value through profit or loss provided
that doing so results in the elimination or significant reduction of a
measurement or recognition inconsistency, or if a group of financial
liabilities, or a group of financial assets and financial liabilities, has to
be managed, and its performance evaluated, on a fair value basis in accordance
with a documented risk management or investment strategy.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Valuation of financial
liabilities</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">All financial instruments are initially recognized at fair
value plus, in the case of a financial liability not at fair value through
profit or loss, transaction costs that are directly attributable to the
acquisition or issue of the financial liability. Unless there is evidence to
the contrary, the best evidence of the fair value of a financial instrument at
initial recognition shall be the transaction price.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Excluding all trading derivatives not considered as
accounting or economic hedges, all the changes in the fair value of the
financial instruments arising from the accrual of interest and similar items
are recognized under the headings &#8220;Interest and other income&#8221; or &#8220;Interest
expense&#8221;, as appropriate, in the consolidated income statement for the period
in which the change occurred (see Note 37 to our Consolidated Financial
Statements).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The changes in fair value after the initial recognition,
for reasons other than those mentioned in the preceding paragraph, are treated
as described below, according to the categories of financial liabilities.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Financial
liabilities held for trading&#8221; and &#8220;Financial liabilities designated at fair
value through profit or loss<a name="_cp_text_1_1188"></a>&#8221;</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The subsequent changes in the fair value (gains or losses)
of the liabilities recognized under these headings of the consolidated balance
sheet are recognized at their net value under the heading &#8220;Gains (losses) on
financial assets and liabilities, net&#8221; in the consolidated income statement
(see Note 41 to our Consolidated Financial Statements), except with respect to
the financial liabilities designated at fair value through profit or loss under
the fair value option With respect to such financial liabilities, the amount of
change in the fair value that is attributable to changes in their related
credit risk is presented under the heading &#8220;Accumulated other comprehensive
income (loss) &#8211; Items that will not be reclassified to profit or loss &#8211; Fair
value changes of financial liabilities at fair value through profit or loss
attributable to changes in their credit risk&#8221;. Interest from derivatives
designated as economic hedges on interest rates are recognized in &#8220;Interest and
other income&#8221; or &#8220;Interest expense&#8221; (see Note 37 to our Consolidated Financial
Statements), depending on the result of the hedging instrument. However,
changes in fair value resulting from variations in foreign exchange rates are
recognized under the heading &#8220;Gains (losses) on financial assets and
liabilities, net&#8221; in the consolidated income statement (see Note 41 to our
Consolidated Financial Statements).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Financial liabilities at
amortized cost&#8221;</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The liabilities under this category are subsequently measured
at amortized cost, using the effective interest rate method.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Derivatives-hedge
accounting&#8221; and &#8220;Fair value changes of the hedged items in portfolio hedges of
interest-rate risk&#8221;</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The below description describes hedge accounting under the
IFRS 9 standard. However, as permitted by IFRS 9, the Group has elected to
continue applying IAS 39 to its hedge accounting in 2018. For information on
hedge accounting under IAS 39, see Note 2.2.1 to our Consolidated Financial
Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Assets and liabilities recognized under these headings in
the consolidated balance sheet are measured at fair value.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes occurring subsequent to
the designation of the hedging relationship in the measurement of financial
instruments designated as hedged items as well as financial instruments
designated as hedge accounting instruments are recognized as follows:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In fair value hedges, the changes in
the fair value of the derivative and the hedged item attributable to the hedged
risk are recognized under the heading &#8220;Gains or losses from hedge accounting,
net&#8221; in the consolidated income statement, with a corresponding offset under
the headings where hedging items (&#8220;Hedging derivatives&#8221;) and the hedged items
are recognized, as applicable. Almost all of the hedges used by the Group are for
interest-rate risks. Therefore, the valuation changes are recognized under the
headings &#8220;Interest and other income&#8221; or &#8220;Interest expense&#8221;, as appropriate, in
the consolidated income statement (see Note 37 to our Consolidated Financial
Statements).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In fair value hedges of interest rate
risk relating to a portfolio of financial instruments (portfolio-hedges), the
gains or losses that arise in the measurement of the hedging instrument are
recognized in the consolidated income statement, and the gains or losses that
arise from the change in the fair value of the hedged item (attributable to the
hedged risk) are also recognized in the consolidated income statement (in both
cases under the heading &#8220;Gains or losses from hedge accounting, net&#8221;, using, as
a balancing item, the heading &#8220;Fair value changes of the hedged items in
portfolio hedges of interest rate risk&#8221; in the consolidated balance sheet, as
applicable).</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In cash flow hedges, the gain or loss
on the hedging instruments relating to the effective portion of such hedges are
recognized temporarily under the heading &#8220;Accumulated other comprehensive
income - Items that may be reclassified to profit or loss - Hedging
derivatives. Cash flow hedges&#8221; in the consolidated balance sheet, with a
balancing entry under the heading &#8220;Hedging derivatives&#8221; of the assets or
liabilities of the consolidated balance sheet, as applicable. These differences
are recognized in the consolidated income statement under the headings
&#8220;Interest and other income&#8221; or &#8220;Interest expense&#8221; at the time when the gain or
loss in the hedged instrument affects profit or loss, when the forecast
transaction is executed or at the maturity date of the hedged item (see Note 37
to our Consolidated Financial Statements).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Differences in the measurement of the
hedging items corresponding to the ineffective portions of cash flow hedges are
recognized directly under the heading &#8220;Gains or losses from hedge accounting,
net&#8221; in the consolidated income statement (see Note 41 to our Consolidated
Financial Statements).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the hedges of net investments in
foreign operations, the differences attributable to the effective portions of
hedging items are recognized temporarily under the heading &#8220;Accumulated other
comprehensive income - Items that may be reclassified to profit or loss &#8211;
Hedging of net investments in foreign transactions&#8221; in the consolidated balance
sheet with a balancing entry under the heading &#8220;Hedging derivatives&#8221; of the
assets or liabilities of the consolidated balance sheet, as applicable. These
differences in valuation are recognized under the heading &#8220;Exchange
differences, net&#8221; in the consolidated income statement when the investment in a
foreign operation is disposed of or derecognized (see Note 41 to our
Consolidated Financial Statements).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment losses on
financial assets</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Definition of impaired
financial assets under IFRS 9</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IFRS 9 replaced the &#8220;incurred loss&#8221; model in IAS 39 with
one of &#8220;expected credit loss&#8221;. The IFRS 9 impairment model is applied to
financial assets valued at amortized cost and to financial assets valued at
fair value through other comprehensive income, except for investments in equity
instruments and contracts for financial guarantees and loan commitments
unilaterally revocable by BBVA. All the financial instruments at fair value through
profit or loss are excluded from the impairment model.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The new standard classifies financial instruments into
three categories, based on the evolution of their related credit risk from the
time of their initial recognition. As further explained at the end of this
section, the first category includes transactions when they are initially
recognized (Stage 1); the second category comprises financial assets in respect
of which a significant increase in credit risk has been identified since their
respective initial recognition (Stage 2); and the third category comprises impaired
financial assets (Stage 3).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The calculation of provisions for
credit risk in each of these three categories must be done differently. With
respect to financial assets classified in the first of the aforementioned
categories, the expected losses for the next 12 months must be recorded. With
respect to financial assets classified in the other two categories, the
expected losses for the remaining life of such financial assets must be recorded.
Thus, IFRS 9 differentiates between the following concepts of &#8220;expected loss&#8221;:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Expected loss for the next 12 months:
this is the expected credit loss that arises from possible default events
within 12 months following the date of the financial statements; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Expected loss during the life of the
transaction: this is the expected credit loss that arises from all possible
default events over the remaining life of the financial instrument.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Estimating the expected loss for a financial asset requires
considerable judgment, both with respect to the expected losses estimation model
and the making of forecasts as to how economic factors may affect such losses,
which must be carried out on a weighted probability basis.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The BBVA
Group has applied the following definitions in accordance with IFRS 9:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Default</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA has applied a definition of default for financial
instruments which is consistent with the definition used in internal credit
risk management, as well as with the indicators under applicable regulation at
the date of the implementation of IFRS 9. Both qualitative and quantitative
indicators have been considered.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group considers there is a
default when one of the following situations occurs:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">payment is past-due for more than 90
days; or</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">there are reasonable doubts regarding
the full reimbursement of the instrument.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with IFRS 9, the 90-day past-due stipulation may be waived
in cases where the Group considers it appropriate, based on reasonable and
documented information that it is appropriate to use a longer term. As of
December 31, 2018, the Group has not considered periods longer than 90 days for
any of its significant portfolios.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Credit impaired asset</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">According to IFRS 9, an asset is
credit impaired if one or more events having a detrimental impact on the
estimated future cash flows of the asset have occurred. Evidence that a
financial asset is credit-impaired includes observable data about the following
events:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">significant financial difficulty of the
issuer or the borrower;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a breach of contract (e.g. a default or
past due event);</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a lender having granted a concession to
the borrower &#8211; for economic or contractual reasons relating to financial
difficulties faced by the borrower &#8211; that the lender would not otherwise
consider;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">it becoming probable that the borrower
will enter bankruptcy or other financial reorganization;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the disappearance of an active market
for that financial asset because of financial difficulties; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the purchase or origination of a
financial asset at a deep discount that reflects the incurred credit losses.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">It may not be possible to identify a single discrete event. Instead, the
combined effect of several events may cause financial assets to become
credit-impaired.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s definition of impaired financial assets is aligned with that
set forth in the above paragraphs.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Significant increase in credit
risk</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The objective of the impairment requirements is to
recognize lifetime expected credit losses for financial instruments for which
there have been significant increases in credit risk since initial recognition
considering all reasonable and supportable information, including that which is
forward looking.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The model developed by the Group
for assessing the significant increase in credit risk has a two-prong approach
that is applied globally, although there are certain peculiarities for each
geographic region:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Quantitative criterion: the Group
carries out a quantitative analysis based on comparing the current expected
probability of default over the life of the transaction with the original
adjusted expected probability of default, so that both values are comparable in
terms of expected default probability for its residual life. The thresholds
used for considering an increase in risk as significant vary depending on the
geographic area and portfolio. Depending on how old transactions were at the
time the new standard was implemented, some simplifications were made to
compare the original and current probabilities of default, based on the best
information available at that time.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Qualitative criterion: since most
indicators for detecting significant increase in risk are included in the
Group&#8217;s systems through rating/scoring systems or macroeconomic scenarios, the
quantitative analysis covers the majority of circumstances. The Group will only
use additional qualitative criteria when it considers it necessary to include
circumstances that may not be reflected in the rating/score systems or in the
macroeconomic scenarios used.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Instruments
meeting one of the following conditions are considered to be &#8220;Stage 2&#8221;
instruments:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">More than 30 days past due. According
to IFRS 9, default of more than 30 days is a presumption of impairment that can
be rebutted in those cases in which the entity considers, based on reasonable
and documented information, that such non-payment does not represent a
significant increase in risk. As of December 31, 2018, the Group has not
considered periods of more than 30 days for assessing impairment in any of its
significant portfolios.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Watch list: These instruments are subject
to special watch by the relevant Risks unit because there are negative signs
relating to their credit quality, even though there may be no objective
evidence of impairment.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Refinancing or restructuring that does
not result in the evidence of impairment.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Although IFRS 9 introduces a series of operational simplifications or
practical solutions for analyzing the increase in significant risk, the Group
does not use them as a general rule. However, for high-quality assets, mainly
related to certain government institutions and bodies, the standard allows for
considering that their credit risk has not increased significantly just because
they have a low credit risk at the date of the financial statements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As indicated
above, the classification of financial instruments subject to impairment under
the new IFRS 9 is as follows:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Stage 1&#8211; without significant increase in credit risk: </font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Loss allowances in respect of financial assets which are
not considered to have experienced a significant increase in credit risk are measured
at an amount equal to the expected credit losses for the next 12 months.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Stage 2&#8211; significant increases in credit risk:</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> When the credit risk of a financial asset has increased
significantly since its initial recognition, the impairment losses of that
financial asset are calculated as the expected credit loss during the entire
life of the asset.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Stage 3 &#8211; Impaired:</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> When
there is objective evidence that the instrument is credit impaired, the
financial asset is transferred to this category in which the provision for
losses of that financial instrument is calculated as the expected credit loss
during the entire life of the asset.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Method for calculating expected
loss</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with IFRS 9, the
measurement of expected losses must reflect:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a considered and unbiased amount,
determined by evaluating a range of possible results;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the time value of money; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">reasonable and supportable information
that is available without undue cost or effort and that reflects current
conditions and forecasts of future economic conditions.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group measures expected losses both individually and collectively.
The purpose of the Group&#8217;s individual measurement is to estimate expected
losses for significant impaired instruments, or instruments classified in Stage
2. In these cases, the amount of credit losses is calculated as the difference
between the expected discounted cash flows at the effective interest rate of
the transaction and the carrying amount of the instrument.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For the
collective measurement of expected losses the instruments are grouped into
groups of assets based on their risk characteristics. Exposure within each
group is segmented according to shared credit risk characteristics, which may
be indicative of the payment capacity of the borrower in accordance with the
relevant contractual conditions. Characteristics taken into account must be
considered to be relevant in estimating future flows of each group. Among
others, we may consider the following factors:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">type of instrument;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">rating or scoring tools;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">credit risk scoring or rating;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">type of collateral;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">amount of time at default for stage 3;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">segment;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">qualitative criteria which can have a
significant increase in risk; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">collateral value if it has an impact on
the probability of a default event.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The estimated losses are derived
from the following parameters:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">PD: estimate of the probability of
default in each period;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EAD: estimate of the exposure in case
of default at each future period, taking into account the changes in exposure
after the date of the financial statements; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">LGD: estimate of the loss in case of
default, calculated as the difference between the contractual cash flows and
receivables, including guarantees.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the case of debt securities, the Group supervises the changes in
credit risk through monitoring the external published credit ratings.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">To determine whether there is a significant increase in credit risk that
is not reflected in published ratings, the Group also revises the changes in
bond yields, and when they are available, the prices of Credit Quality Swap
(CDS), together with the news and regulatory information available on the
issuers.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Use of present, past and future
information</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IFRS 9 requires incorporation of present, past and future
information to detect any significant increase in risk and measure expected
loss.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The standard does not require identification of all
possible scenarios for measuring expected loss. However, the probability of a
loss event occurring and the probability it will not occur have to be
considered, even though the possibility of a loss may be very small. Also, when
there is no linear relation between the different future economic scenarios and
their associated expected losses, more than one future economic scenario must
be used for the measurement.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The approach used by the Group consists of using first the
most probable scenario (baseline scenario) consistent with that used in the
Group&#8217;s internal management processes, and then applying an additional
adjustment, calculated by considering the weighted average of expected losses
in two economic scenarios (one more positive and the other more negative). The
main macroeconomic variables that are valued in each of the scenarios for each
of the geographies in which the Group operates are Gross Domestic Product
(GDP), tax rates, unemployment rate and loan to value (LTV).</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fair value of financial
instruments</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The fair value of an asset or a liability on a given date is taken to be
the price that would be received upon the sale of an asset, or paid, upon the
transfer of a liability in an orderly transaction between market participants
at the measurement date. The most objective and common reference for the fair
value of an asset or a liability is the price that would be paid for it on an
organized, transparent and deep market (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">quoted price</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; or &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">market
price</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If there is no market price for a given asset or liability, its fair
value is estimated on the basis of the price established in recent transactions
involving similar instruments and, in the absence thereof, by using mathematical
measurement models sufficiently tried and trusted by the international
financial community. Such estimates would take into consideration the specific
features of the asset or liability to be measured and, in particular, the
various types of risk associated with the asset or liability. However, the
limitations inherent to the measurement models developed and the possible
inaccuracies of the assumptions required by these models may signify that the
fair value of an asset or liability thus estimated does not coincide exactly
with the price for which the asset or liability could be purchased or sold on
the date of its measurement.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See Notes 2.2.1 and 8 to our Consolidated Financial Statements, which
contain a summary of our significant accounting policies.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Derivatives and other future transactions</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">These instruments include outstanding foreign currency purchase and sale
transactions, outstanding securities purchase and sale transactions, futures
transactions relating to securities, exchange rates or interest rates, forward
interest rate agreements, options relating to exchange rates, securities or
interest rates and various types of financial swaps.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">All derivatives are recognized on the balance sheet at fair value from
the date of arrangement. If the fair value of a derivative is positive, it is
recorded as an asset and if it is negative, it is recorded as a liability.
Unless there is evidence to the contrary, it is understood that on the date of
arrangement the fair value of the derivatives is equal to the transaction
price. Changes in the fair value of derivatives after the date of arrangement
are recognized in the heading &#8220;Gains (losses) on financial assets and
liabilities designated at fair value through profit or loss, net&#8221; in the
consolidated income statement.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Specifically, the fair value of the standard financial derivatives
included in the held for trading portfolios is equal to their daily quoted
price. If, under exceptional circumstances, their quoted price cannot be
established on a given date, these derivatives are measured using methods
similar to those used to measure over-the-counter (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">OTC</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) derivatives.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The fair value of OTC derivatives is equal to the sum of the future cash
flows arising from the instruments discounted at the measurement date (&#8220;present
value&#8221; or &#8220;theoretical value&#8221;). These derivatives are measured using methods
recognized by the financial markets, including the net present value method and
option price calculation models.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial derivatives that have equity instruments as their underlying,
whose fair value cannot be determined in a sufficiently objective manner and
are settled by delivery of those instruments, are measured at cost.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial derivatives designated as hedging items are included in the
heading of the balance sheet &#8220;Hedging derivatives&#8221;. These financial derivatives
are valued at fair value.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See Note 2.2.1 to our Consolidated Financial Statements, which contains a
summary of our significant accounting policies with respect to these
instruments.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Goodwill in consolidation</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pursuant to IFRS 3, if the
difference on the date of a business combination between the sum of the
consideration transferred, the amount of all the non-controlling interests and
the fair value of equity interest previously held in the acquired entity, on one
hand, and the fair value of the assets acquired and liabilities assumed, on the
other hand, is positive, it is recorded as goodwill on the asset side of the
balance sheet. Goodwill represents the future economic benefits from assets
that cannot be individually identified and separately recognized.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Goodwill
is not amortized and is subject periodically to an impairment analysis. Any
impaired goodwill is written off.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If the difference is negative, it
is recognized directly in the income statement under the heading &#8220;Negative
goodwill recognized in profit or loss&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Goodwill is allocated to one or
more cash-generating units, or CGUs, expected to benefit from the synergies
arising from business combinations. See Note 2.2.8 to our Consolidated
Financial Statements for the definition of CGU.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The CGUs to which goodwill has
been allocated are tested for impairment based on the carrying amount of the
unit including the allocated goodwill. Such testing is performed at least
annually and whenever there is an indication of impairment.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For the purpose of determining
the impairment of a CGU to which a part or all of goodwill has been allocated,
the carrying amount of that CGU, adjusted by the theoretical amount of the
goodwill attributable to the non-controlling interests, shall be compared to
its recoverable amount (except where they are not valued at fair value). The
resulting difference shall be apportioned by reducing, firstly, the carrying
amount of the goodwill allocated to that unit and, secondly, if there are still
impairment losses remaining to be recognized, the carrying amount of the rest
of the assets. This shall be done by allocating the remaining difference in
proportion to the carrying amount of each of the assets in the CGU. In any
case, impairment losses on goodwill can never be reversed.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See Notes 2.2.7 and 2.2.8 to our
Consolidated Financial Statements, which contain a summary of our significant
accounting policies related to goodwill.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The results from each of these
tests on the dates mentioned were as follows:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, 2017 and
2016, no impairment had been identified in any of the main CGUs.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s most significant
goodwill corresponds to the CGU in the United States. The calculation of the
impairment loss used the cash flow projections estimated by the Group&#8217;s
management, based on the latest budgets available for the next five years. As
of December 31, 2018, the Group used a steady growth rate of 4.0% (the same
rate was considered as of December 31, 2017 and 2016) to extrapolate the cash
flows in perpetuity starting on the fifth year (2023), based on the real GDP
growth rate of the United States and expected inflation. The rate used to
discount cash flows is the cost of capital assigned to the CGU, 10.5% as of
December 31, 2018 (10.0% as of December 31, 2017 and 2016, respectively), which
consists of the risk free rate plus a risk premium.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018 if the
discount rate had increased or decreased by 50 basis points, the recoverable
amount would have decreased or increased by &#8364;1,009 million and &#8364;1,176 million
respectively (&#8364;1,159 million and &#8364;1,371 million respectively as of December 31,
2017). If, as of December 31, 2018, the growth rate had increased or decreased
by 50 basis points, the recoverable amount would have increased or decreased by
&#8364;526 million and &#8364;451 million respectively (&#8364;661 million and &#8364;559 million
respectively as of December 31, 2017).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Part of the Group&#8217;s goodwill
balance corresponds to the CGU in Turkey. The calculation of the impairment
loss used the cash flow projections estimated by the Group&#8217;s management, based
on the latest budgets available for the next five years. As of December 31,
2018, the Group used a steady growth rate of 7.0% (the same rate was considered
as of December 31, 2017 and 2016) to extrapolate the cash flows in perpetuity
starting on the fifth year (2023), based on the real GDP growth rate of Turkey
and expected inflation. The rate used to discount cash flows is the cost of
capital assigned to the CGU, 24.3% as of December 31, 2018 (18.0% and 17.7% as
of December 31, 2017 and 2016, respectively), which consists of the risk free
rate plus a risk premium.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018 if the
discount rate had increased or decreased by 50 basis points, the recoverable
amount would have decreased or increased by &#8364;149 million and &#8364;158 million,
respectively. If, as of December 31, 2018, the growth rate had increased or
decreased by 50 basis points, the recoverable amount would have increased or
decreased by &#8364;40 million and &#8364;37 million, respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018 the
recoverable amounts of our main CGUs were in excess of their carrying value
and, as such, were not at risk of impairment.</font></font></p>


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</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Insurance contracts</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The methods and techniques used
to calculate the mathematical reserves for insurance contracts mainly involve
the valuation of the estimated future cash flows, discounted at the technical
interest rate for each contract. Changes in insurance mathematical reserves may
occur in the future as a consequence of changes in interest rates and other key
assumptions. See Notes 2.2.9 and 23 to our Consolidated Financial Statements,
which contain a summary of our significant accounting policies and assumptions
about our most significant insurance contracts.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Post-employment benefits and other long term commitments to
employees</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pension and post-retirement
benefit costs and credits are based on actuarial calculations. Inherent in
these calculations are assumptions including discount rates, rate of salary
increase and expected return on plan assets. Changes in pension and
post-retirement costs may occur in the future as a consequence of changes in
interest rates, expected return on assets or other assumptions. See Notes
2.2.12 and 25 to our Consolidated Financial Statements, which contain a summary
of our significant accounting policies about pension and post-retirement
benefit costs and credits.</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">A.&#160;&#160;
Operating Results</font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Factors Affecting the Comparability of our Results of
Operations and Financial Condition</font></b></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><a name="_cp_text_1_1283"></a><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Trends </font></i></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">in Exchange Rates</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We are exposed to foreign exchange rate risk in that our reporting
currency is the euro, whereas certain of our subsidiaries and investees keep
their accounts in other currencies, principally Mexican pesos, U.S. dollars,
Turkish liras, Argentine pesos, Colombian pesos and Peruvian new soles. For
example, if Latin American currencies, the U.S. dollar or the Turkish lira
depreciate against the euro, when the results of operations of our subsidiaries
in the countries using these currencies are included in our consolidated
financial statements, the euro value of their results declines, even if, in
local currency terms, their results of operations and financial condition have
remained the same. By contrast, the appreciation of Latin American currencies,
the U.S. dollar or the Turkish lira against the euro would have a positive
impact on the results of operations of our subsidiaries in the countries using
these currencies when their results of operations are included in our
consolidated financial statements. <a name="_cp_text_1_231"></a>Accordingly,
changes in <a name="_cp_text_4_232"></a>exchange rates may limit the ability of
our results of operations, stated in euro, to fully <a name="_cp_text_1_233"></a>show
<a name="_cp_text_4_234"></a>the performance in local currency terms of our
subsidiaries<a name="_cp_text_1_235"></a>.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Except with respect to hyperinflationary economies
(Venezuela and Argentina), the assets and liabilities of our subsidiaries which
maintain their accounts in currencies other than the euro have been converted
to the euro at the period-end exchange rates for inclusion in our Consolidated
Financial Statements, and income statement items have been converted at the average
exchange rates for the period. See Note 2.2.20 to our Consolidated Financial
Statements for information on the application of IAS 29 to hyperinflationary
economies. The following table sets forth the exchange rates of several Latin
American currencies, the U.S. dollar and the Turkish lira against the euro,
expressed in local currency per &#8364;1.00 as averages for 2018, 2017 and 2016 and
as of December 31, 2018, 2017 and 2016 according to the ECB.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 valign=bottom width=42% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Average Exchange Rates</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=42% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Period-End Exchange Rates</font></b></font></p>
  </td>
 </tr>
<tr style="height:32.25pt;">
  <td nowrap valign=bottom width=16% style="height:32.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Year Ended December 31, 2018</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Year Ended December 31, 2017</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Year Ended December 31, 2016</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2018</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2017</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexican peso</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22.7046</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">21.3297</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20.6637</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22.4921</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23.6614</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">21.7718</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">U.S. dollar</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.1810</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.1296</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.1069</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.1450</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.1993</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.0541</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Argentine peso</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="background:#D9D9D9;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#D9D9D9 style="border:none;"><font color=#D9D9D9 face="Times New Roman,serif" style="font-size:9.0pt;">43.2900</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18.7375</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16.3348</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">43.2900</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22.5830</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16.5846</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Colombian peso</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,484.3206</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,333.3333</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,378.3784</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,745.3184</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,584.2294</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,164.5570</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Peruvian new sol</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.8787</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.6813</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.7333</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.8621</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.8813</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.5310</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkish lira</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.7058</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.1213</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.3427</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.0588</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.5464</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.7072</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">127</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">During 2018, the Mexican peso,
the U.S. dollar, the Argentine peso, the Colombian peso, the Peruvian new sol
and the Turkish lira depreciated against the euro in average terms. With
respect to period-end exchange rates, the Argentine peso, the Colombian peso
and the Turkish lira depreciated against the euro. On the other hand, the
Mexican peso, the U.S. dollar, and the Peruvian new sol appreciated against the
euro in terms of period-end exchange rates. The overall effect of changes in
exchange rates was negative for the period-on-period comparison of the Group&#8217;s
income statement and positive for the period-on-period comparison of the
Group&#8217;s balance sheet.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">During 2017, the Mexican peso,
the U.S. dollar, the Argentine peso, the Venezuelan bolivar and the Turkish
lira depreciated against the euro in average terms. In particular, the
Venezuelan bolivar depreciated significantly. On the other hand, the Chilean
peso, the Colombian peso and the Peruvian new sol appreciated against the euro
in average terms</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;&nbsp;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> With respect to period-end exchange rates, all
of the above currencies depreciated against the euro. The overall effect of
changes in exchange rates was negative both for the period-on-period comparison
of the Group&#8217;s income statement and the period-on-period comparison of the
Group&#8217;s balance sheet.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">When comparing two dates or
periods in this Annual Report we have sometimes excluded, where specifically
indicated, the impact of changes in exchange rates by assuming constant
exchange rates. In doing this, with respect to income statement amounts, we
have used the average exchange rate for the more recent period for both periods
and, with respect to balance sheet amounts, we have used the closing exchange
rate of such more recent period.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Application of IFRS 9</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of January 1, 2018, IFRS 9 &#8220;Financial instruments&#8221;
replaced IAS 39 &#8220;Financial Instruments: Recognition and Measurement&#8221; and
introduced changes in the requirements for the classification and measurement
of financial assets and financial liabilities, the impairment of financial
assets and hedge accounting. The impact of the first application of IFRS 9,
which was significant, is presented in Note 2.4 to the Consolidated Financial
Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As permitted by the standard, IFRS 9 has not been applied
retrospectively for previous years. However, the financial information for 2017
and 2016 included in the Consolidated Financial Statements, which was prepared
in accordance with the accounting policies and valuation criteria applicable
under IAS 39, has been subject to certain non-significant modifications in
order to improve its comparability with financial information for 2018. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation
of Financial Information</font></i></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Application of
IFRS 9</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The implementation of IFRS 9 has
mainly affected the following line items of our consolidated income statement:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.65pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Dividend income&#8221; &#8211; since January 1,
2018, dividends from &#8220;Financial assets held for trading&#8221; are recognized under
&#8220;Net gains (losses) in financial assets and liabilities&#8221;, whereas in the prior
year they were recognized under &#8220;Dividend income&#8221;. This has adversely affected
the evolution of &#8220;Dividend income&#8221; in 2018 compared to 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.65pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Net gains (losses) on financial assets
and liabilities&#8221; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8211; The following three
headings have been affected:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:74.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Gains (losses) on derecognition of
financial assets and liabilities not measured at fair value through profit or
loss, net&#8221; was affected in 2018 due to the reclassification of the underlying
portfolios as a result of the implementation of IFRS 9. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:74.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Gains (losses) on financial assets and
liabilities held for trading, net&#8221; was affected in 2018 as a result of the
implementation of IFRS 9, pursuant to which, since January 1, 2018, dividends
from &#8220;Financial assets held for trading&#8221; are recognized under this heading. In
addition, the heading was affected in 2018 by the reclassification of the
underlying portfolios also as a result of the implementation of IFRS 9.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:74.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Gains (losses) on non-trading
financial assets mandatorily at fair value through profit or loss, net&#8221; was
first introduced in 2018 as a result of the implementation of IFRS 9.
Previously, this category did not exist under IAS 39.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">128</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Sale of
BBVA Chile</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On July 6, 2018, we completed the sale of our 68.19% stake
in BBVA Chile to Scotiabank for $2,200 million in cash. The transaction resulted
in a capital gain, net of taxes, of &#8364;633 million. BBVA Chile was part of our
South America segment. For additional information on this sale, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 4.
Information on the Company&#8212;History and Development of the Company&#8212;</font></i></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Capital Divestitures</font></i></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;2018</font></i></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Transfer of Business and sale of
stake in Divarian</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On October 10, 2018, after obtaining all the required
authorizations, BBVA completed the transfer of the Business </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(except for part of the agreed REOs)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> to Divarian and the sale of an 80% stake in Divarian to
Promontoria. Prior to its contribution to Divarian, the Business was part of
our Non-Core Real Estate segment</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> Following the closing of the
transaction, BBVA retained 20% of the share capital of Divarian, which is
accounted for under the Corporate Center. For additional information on the
Cerberus Transaction, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 4. Information on the Company&#8212;History and
Development of the Company&#8212;Capital Divestitures&#8212;2018&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 10.
Additional Information&#8212;Material Contracts&#8212;Joint Venture Agreement with Cerberus</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:7.1pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Hyperinflationary economies</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Argentina, which is part of the South America segment, was
considered to be a hyperinflationary country in 2018 for the first time</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. Hyperinflation in Argentina had a negative impact of &#8364;266
million in the &#8220;Profit attributable to parent company&#8221; for 2018. For additional
information, see Note 2.2.20 of the Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:7.1pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in operating segments</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Since 2018, our Mexico segment
includes BBVA Bancomer&#8217;s branch in Houston (which was part of our United States
segment in previous years). </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, there
have been certain non-significant changes affecting the composition of our
Banking Activity in Spain, Non Core Real Estate and Corporate Center segments.
The financial information for 2017 relating to such segments included in the
Consolidated Financial Statements and in this Annual Report has been revised
accordingly to improve its comparability with financial information for 2018.
However, financial information for 2016 has not been revised as a result
thereof. As a result, the consolidated financial information relating to such
segments for 2016 is not fully comparable with such information for 2017 and
2018.</font></font></p>



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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating
Environment</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our results of operations are dependent, to a large extent,
on the level of demand for our products and services (primarily loans and
deposits but also intermediation of financial products such as sovereign or
corporate debt) in the countries in which we operate. Demand for our products
and services in those countries is affected by the performance of their
respective economies in terms of gross domestic product (GDP), as well as
prevailing levels of employment, inflation and, particularly, interest rates.
The demand for loans and saving products correlates positively with income,
which correlates in turn with the GDP, employment and corporate profits
evolution. Regarding interest rates, they have a direct impact on banking
results as the banking activity mainly relies on the generation of positive
interest margins by paying lower interest on liabilities, primarily deposits,
than the interest received on assets, primarily loans. However, it should be
noted that higher interest rates, all else being equal, also reduce the demand
for banking loans and increase the cost of funding of the banking business.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The global environment has deteriorated during the second
half of 2018, with a more evident effect of the increase in protectionism in
global trade and the industrial sector together with the signs of a slowdown in
China, the Eurozone and the United States. Faced with this scenario of global
uncertainty, the main central banks have shown signs of caution in their
normalization plans, and have been key to containing the sharp rise in
financial tensions. BBVA Research&#8217;s forecast is for a smooth deceleration of
the growth in the global economy, from 3.6% in 2018 to 3.5% in 2019 and 3.4% in
2020. This is based on the scenario referred to above and the assumption that
financial volatility may continue during the first half of 2019 and that some
of the uncertainties weighing on the global economy may not dissipate (as a
result, for example, of the lack of an agreement between the United States and
China to curb trade disputes and avoid a new tariff hike, or of a solution that
avoids a no-deal Brexit). </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regarding the evolution of key economic areas for the
Group, after growing above 3% in each of 2017 and 2016, the Spanish economy
slowed slightly in 2018 but is still expanding at a positive rate. The positive
inertia of the economy along with supportive monetary and fiscal policies is
supporting the dynamism of Spanish domestic demand and offsetting some
headwinds created by increasing oil prices and higher uncertainty. According to
BBVA Research&#8217;s current estimates, growth is expected to slow to slightly below
2.5% in 2019. Elections taking place this year are being held in an environment
of increased political fragmentation, which may result in an outcome that may
hinder the implementation of&#160; necessary structural reforms, thus adding new
uncertainty.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Mexico&#8217;s GDP grew at an annualized rate of 2.0% in 2018
(2.3% in 2017) driven by robust private consumption, and throughout most of the
year, the manufacturing sector. At the beginning of 2019, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Research&#8217;s</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> GDP growth
forecast was slightly revised downwards to of 2% due to delays in investment
works and less dynamic U.S. industrial manufacturing production, combined with
increased uncertainty related to the economic policies of the new government.
PEMEX&#8217;s business model and the decline in its rating increases risk in the
Mexican economy. On the other hand, we believe the declining trend in inflation
is likely to continue to improve the purchasing power of households and
underpin private consumption in 2019. Sound fiscal and monetary policy oriented
to maintaining price stability are likely to be crucial to limiting any
potential negative impacts upon, or any uncertainties with regards to, the
Mexican economy.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">South American GDP grew by 0.2% in 2018 after having grown
by 0.7% in 2017. Low regional growth was mainly as a result of the weak
macroeconomic performance of some Mercosur countries, such as Argentina, where
GDP declined by 2.4% in 2018, largely due to the effects of the foreign
exchange crisis triggered by concerns about the funding of the current account
deficit in an environment of declining global liquidity. Moving forward,
according to BBVA Research, the global slowdown will likely limit the recovery
of economic activity in South America, with weaker growth in developed
countries, higher global financial volatility and worse prospects for commodity
prices, in addition to certain idiosyncratic factors that are likely to
negatively affect the region. BBVA Research expects average GDP growth to be
around 0.7% in 2019, with higher growth, around 3.5%, in Peru, Chile, Colombia
and Paraguay, and approximately 2% growth in Mexico, Brazil and Uruguay. In
Argentina, BBVA Research expects that GDP will decline again in 2019 as a
whole, although positive quarterly growth may return from the middle of the
year onwards. In a context where there is scarce room for expansionary fiscal
policies, most of the region will likely continue to benefit from lax monetary
policies. However, the strengthening of domestic demand and/or the exchange
rate pass-through depreciation will likely gradually lead to the elimination of
monetary stimuli in the coming years. In contrast, with respect to Argentina,
BBVA Research expects that monetary policy is likely to become gradually less
restrictive once inflation moderates after the recent rebound. The main risks
in the region are related to political and fiscal issues and possible delays in
investment projects, in addition to more general risks in the context of the
global environment.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">130</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_136"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the United States, GDP
growth accelerated strongly in 2018, by half a percentage point to 2.9%, buoyed
by the fiscal stimulus, but in the second half of the year there were certain
signs of moderation, such as the flagging performance of external demand, the
appreciation of the dollar and the figures for private sector investment, which
appear not to have responded greatly to the government&#8217;s fiscal package. In a
context of greater uncertainty both at home and abroad and doubt regarding the
fiscal stimulus measures, BBVA Research believes growth may slow to 2.5% in
2019 and 2% in 2020. Despite the strength of domestic demand, and an
unemployment rate below 4%, inflationary pressures remain contained, and BBVA
Research expects the declining trend in oil prices will bring inflation down
from 2.5% in 2018 to 2.2% in 2019 and 2.1% in 2020. In such a scenario of
slowing growth, and with inflation tending towards 2%, the increase in downside
risks may make the Federal Reserve more cautious.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As regards Turkey, in 2018 GDP growth slowed notably to
2.6% from 7.4% in 2017, as tightening financial conditions and increasing
geopolitical stress weighed on domestic demand, while the sharp depreciation of
the lira lead to a positive adjustment in the current account (although at the
expense of a sharp rise in inflation). The tightening of monetary and fiscal
policy designed to correct imbalances generated in prior years will likely
continue to slow down growth to around 1% in 2019, before starting to gain some
momentum in 2020 with a 2.5% expected growth.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Group results of
operations for 2018 compared to 2017</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">The table below shows the Group&#8217;s
consolidated income statements for 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=top width=65% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 rowspan=2 valign=bottom width=25% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=65% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=65% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=13% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=65% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=25% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Interest and other income</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">29,831</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">29,296</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1.8 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Interest expense</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(12,239)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(11,537)</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=65% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">17,591</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">17,758</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(0.9) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Dividend income</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">157</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">334</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(53.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Share of profit or loss of entities accounted for
  using the equity method</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">n.m. (1)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Fee and commission income</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">7,132</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">7,150</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(0.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Fee and commission expense</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(2,253)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(2,229)</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1.1 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=65% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities (2)</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,234</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">938</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">31.6 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Exchange differences, net</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,030</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">n.m. (1)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Other operating income</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">949</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,439</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(34.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Other operating expense</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(2,101)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(2,223)</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(5.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income on insurance and reinsurance contracts</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2,949</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3,342</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(11.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Expense on insurance and reinsurance contracts</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(1,894)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(2,272)</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(16.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=65% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">23,747</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">25,270</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(6.0) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(10,494)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(11,112)</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(5.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Personnel expense</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(6,120)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(6,571)</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(6.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Other administrative expense</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(4,374)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(4,541)</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(3.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(1,208)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(1,387)</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(12.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=65% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Net margin before provisions (3)</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">12,045</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">12,771</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(5.7) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(373)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(745)</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(49.9) </font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=65% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td nowrap width=13% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(3,981)</font></font></p>
  </td>
 <td nowrap width=12% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(4,803)</font></font></p>
  </td>
 <td nowrap width=10% style="height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(17.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on
  non-financial assets</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(138)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(364)</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(62.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gains (losses) on derecognition of non-financial
  assets and subsidiaries, net</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">78</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">47</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">66.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Negative goodwill recognized in profit or loss</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">0.0 </font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td width=65% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit (loss) from non-current assets and disposal
  groups classified as held for sale not qualifying as discontinued operations</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">815</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">26</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">n.m. (1)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=65% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">8,446</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,931</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">21.9 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(2,295)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(2,169)</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">5.8 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=65% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,151</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,762</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">29.2 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from discontinued operations, net</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">0.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=65% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,151</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,762</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">29.2 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=65% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">5,324</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3,519</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">51.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=65% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">827</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,243</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(33.5) </font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=65% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=4 valign=bottom width=100% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)&#160;&#160;&#160;
  Not meaningful.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2)&#160; Comprises the following
  income statement line items contained in the Consolidated Financial
  Statements: &#8220;Gains (losses) on derecognition of financial assets and
  liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains
  (losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains
  (losses) on non-trading financial assets mandatorily at fair value through
  profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities
  designated at fair value through profit or loss, net&#8221; and &#8220;Gains (losses)
  from hedge accounting, net&#8221;.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3)&#160;&#160;&#160; Calculated as &#8220;Gross
  income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">131</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_137"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The changes in our consolidated income statements for 2018 and 2017 were
as follows:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table summarizes net interest income for 2018 and 2017.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=60% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 rowspan=2 valign=bottom width=31% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=60% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=60% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td width=15% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=60% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 <td width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=60% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Interest and other income</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">29,831 </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">29,296 </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1.8 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=60% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Interest expense</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(12,239)</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(11,537)</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=60% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">17,591 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">17,758 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(0.9) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest
income for the year ended December 31, 2018 amounted to &#8364;17,591 million, a 0.9%
decrease compared with the &#8364;17,758 million recorded for the year ended December
31, 2017, mainly as a result of the depreciation of the currencies of the main
countries where BBVA operates (in average terms) and, to a lesser extent, the
evolution in Spain (described below). Excluding the impact of the depreciation
of these currencies, net interest income increased by 10.8% mainly as a resul<a name="_cp_text_1_1673"></a>t of the growth in loans. The following factors, set out
by region<a name="_cp_text_1_1674"></a>, were the main contributors toward the
0.9% decrease in net interest income:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spain: there was a 1.8% year-on-year
decrease in net interest income </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">mainly as a
result of the decrease in the average volume of interest-earning assets and the
increase in the costs of wholesale funding due to the fact that targeted
longer-term refinancing operations (TLTRO) were partially replaced by other
types of funding which bear higher interest rates</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Turkey: there was a 5.9% year-on-year
decrease in net interest income as a result of the depreciation of the Turkish
lira against the euro. Excluding this effect, net interest income grew by
30.3%, despite the pressure on customer spreads, mainly due to significant
income from inflation-linked bonds, whose contribution in 2018, compared to
2017, more than doubled.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">South America: there was a 6.0%
year-on-year decrease in net interest income as a result of the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">depreciation of the currencies in the region against the
euro as well as the sale of BBVA Chile</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The decrease in net interest
income was partially offset by:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">United States: there was a 7.4%
year-on-year increase in net interest income due mainly to higher interest
rates (as a result of the Federal Reserve Board benchmark interest rate
increases) and to measures adopted by BBVA Compass to improve loan yields and
contain the increase in the cost of deposits (including an improved deposit mix
and wholesale funding).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Mexico: there was a 1.7% year-on-year
increase in net interest income mainly as a result of an increase in the
average volume of loans and advances to customers.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Dividend income</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Dividend income for the year ended December 31, 2018
amounted to &#8364;157 million, a 53% decrease compared with the &#8364;334 million
recorded for the year ended December 31, 2017, mainly as a result of the
implementation of IFRS 9, pursuant to which, since January 1, 2018, dividends
from &#8220;Financial assets held for trading&#8221; are recognized under &#8220;Net gains
(losses) in financial assets and liabilities&#8221;, whereas in the prior year they
were recognized under &#8220;Dividend income&#8221;.</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">132</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_138"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Share
of profit or loss of entities accounted for using the equity method</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Share of profit or loss of entities accounted for using the
equity method for the year ended December 31, 2018 amounted to a &#8364;7 million
loss, compared with the &#8364;4 million profit recorded for the year ended December
31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fee and commission income</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The breakdown of fee and commission income for <a name="_cp_text_1_1702"></a>the
years ended December 31, 2018 and 2017 is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Year Ended December 31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 <td width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Bills receivables</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">39</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">46</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(15.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Current accounts</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">451</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">507</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(11.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Credit and debit cards</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2,900</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2,834</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Checks</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">194</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">212</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(8.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Transfers and others payment orders</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">605</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">601</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">0.7 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Insurance product commissions</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">171</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">192</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(10.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Commitment fees</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">223</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">231</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(3.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Contingent risks</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">390</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">396</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(1.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Asset Management</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,023</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">923</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">10.8 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Securities fees</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">325</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">385</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(15.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Custody securities</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">122</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">122</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">0.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">689</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">700</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(1.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Fee and commission income</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">7,132</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">7,150</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(0.3) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fee and commission income decreased by
0.3% to &#8364;7,132 million for the year ended December 31, 2018 from &#8364;7,150 million
for the year ended December 31, 2017 mainly as a result of the depreciation of
the currencies of the main countries where BBVA operates against the euro,
which more than offset the increase in asset management fees.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fee and commission expense</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The breakdown of fee and commission expense for 2018 and 2017 is as
follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Credit and debit cards</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,502</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,458</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Transfers and others payment orders</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">96</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">102</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(5.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Commissions for selling insurance</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">48</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">60</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(20.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Other fees and commissions</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">607</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">610</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(0.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Fee and commission expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2,253</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2,229</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1.1 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fee and commission expense increased by
1.1% to &#8364;2,253 million for the year ended December 31, 2018 from &#8364;2,229 million
for the year ended December 31, 2017, primarily due to an increase in
commissions paid by the BBVA Group to other financial institutions in
connection with the use of credit and debit cards, particularly in Spain and
Mexico, which more than offset the impact of the depreciation of the currencies
of the main countries where BBVA operates against the euro.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial
assets and liabilities</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets and liabilities increased by
31.6% to &#8364;1,234 million for the year ended December 31, 2018 compared to a net
gain of &#8364;938 million for the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The table below provides a breakdown of net gains (losses) on
financial assets and liabilities for the years ended December 31, 2018 and
2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=58% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=30% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=58% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=15% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=58% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 <td width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=top width=58% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gains (losses) on derecognition of financial assets
  and liabilities not measured at fair value through profit or loss, net</font></font></p>
  </td>
 <td nowrap width=15% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">216</font></font></p>
  </td>
 <td nowrap width=15% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">985</font></font></p>
  </td>
 <td nowrap width=12% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(78.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial assets at amortized
  cost</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">51</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">133</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(61.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other financial assets and liabilities</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">164</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">852</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(80.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gains (losses) on financial assets and liabilities
  held for trading, net</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">707</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">218</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">224.3 </font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=top width=58% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gains (losses) on non-trading financial assets
  mandatorily at fair value through profit or loss, net</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">96</font></font></p>
  </td>
 <td nowrap width=15% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">n.m. (1)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=top width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gains (losses) on financial assets and liabilities
  designated at fair value through profit or loss, net</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">143</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(56)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">n.m. (1)</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td nowrap width=58% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gains (losses) from hedge accounting, net</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">72</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(209)</font></font></p>
  </td>
 <td nowrap width=12% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">n.m. (1)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=58% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,234</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">938</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">31.6 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=58% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;height:12.75pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;height:12.75pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=4 nowrap width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(1)&#160;&#160;&#160; Not meaningful.</font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">133</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_139"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Gains on derecognition of financial
assets and liabilities not measured at fair value through profit or loss
decreased to &#8364;216 million in the year ended December 31, 2018 from &#8364;985 million
in the year ended December 31, 2017 mainly due to lower ALCO portfolio sales
and reclassifications of the underlying portfolios caused by the implementation
of IFRS 9.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Gains on financial assets and liabilities held for trading
increased to &#8364;707 million <a name="_cp_text_1_1717"></a>in the year ended December
31, 2018 from &#8364;218 million in <a name="_cp_text_4_1718"></a>the year ended
December 31, 2017 mainly as a result of the implementation of IFRS 9, which
led to the reclassification of the underlying portfolios and the recording, since
January 1, 2018, of dividends from &#8220;Financial assets and liabilities held for
trading&#8221; under this heading.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Gains on non-trading financial assets mandatorily at fair
value through profit or loss amounted to &#8364;96 million. This heading was first
introduced in 2018 as a result of the implementation of IFRS 9 on January 1,
2018. Previously, this category did not exist under IAS 39.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange differences, net</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange differences decreased to a &#8364;9 million loss for the
year ended December 31, 2018 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">from <a name="_cp_text_1_1744"></a>a &#8364;1,030 million gain for the year ended December
31, 2017. Exchange differences were &#8364;1,030 million for the year ended December
31, 2017</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> mainly as a result of certain
financial transactions particularly in Turkey.&#160; </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and
expense, net</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income for the year ended December 31, 2018
decreased 34.1% to &#8364;949 million, compared with the &#8364;1,439 million recorded for
the year ended December 31, 2017, mainly as a result of lower income from
real-estate related services in Spain and the depreciation of the currencies of
the main countries where BBVA operates against the euro.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating expense for the year ended December 31,
2018 amounted to &#8364;2,101 million, a 5.5% decrease compared with the &#8364;2,223
million recorded for the year ended December 31, 2017, mainly as a result of
lower expense from real-estate related services in Spain and the depreciation
of the currencies of the main countries where BBVA operates against the euro,
partially offset by the impact of hyperinflation in Argentina and </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the greater contributions made to the Deposit Guarantee
Fund of Credit Institutions and to the ECB&#8217;s Single Resolution Fund</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income and expense on insurance
and reinsurance contracts</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income on insurance and reinsurance contracts for the year
ended December 31, 2018 was &#8364;2,949 million, a 11.8% decrease compared with the
&#8364;3,342 million of income recorded for the for the year ended December 31, 2017,
mainly as a result of lower insurance premiums related to insurance-savings&#160;
products in Spain (<a name="_cp_text_1_1752"></a>through BBVA Seguros) and the
depreciation of the currencies of the main countries where BBVA operates
against the euro.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Expense on insurance and reinsurance contracts for the year
ended December 31, 2018 was &#8364;1,894 million, a 16.6% decrease compared with the
&#8364;2,272 million expense recorded for the year ended December 31, 2017, mainly as
a result of the lower insurance activity related to insurance-savings products in
Spain (through BBVA Seguros) and the depreciation of the currencies of the main
countries where BBVA operates against the euro.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">134</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_140"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration
costs</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs, which include personnel expense and
other administrative expense, for the year ended December 31, 2018 amounted to
&#8364;10,494 million, a 5.6% decrease compared with the &#8364;11,112 million recorded for
the year ended December 31, 2017, mainly as a result of the depreciation of the
currencies of the main countries where BBVA operates against the euro, which
was offset in part by a 63.7% increase in technology and systems expense. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The table below provides a
breakdown of personnel expense for the years ended December 31, 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 <td width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Wages and salaries</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,786</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">5,163</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(7.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Social security costs</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">722</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">761</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(5.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Defined contribution plan
  expense</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">89</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">87</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Defined benefit plan expense</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">58</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">62</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(6.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Other personnel expense</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">465</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">497</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(6.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Personnel expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,120</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,571</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(6.9) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The table below provides a breakdown
of other administrative expense for the years ended December 31, 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 <td width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Technology and systems</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,133 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">692 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">63.7 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Communications </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">235 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">269 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(12.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Advertising</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">336 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">352 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(4.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Property, fixtures and
  materials</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">982 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,033 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(4.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#160;Of which:</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#160;&#160;&#160; Rent expense</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">552 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">581 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(5.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Taxes other than income tax</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">417 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">456 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(8.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Other expense</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,271 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,738 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(26.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Other administrative expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,374 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,541 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(3.7) </font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Depreciation
and amortization</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Depreciation and amortization for the year ended December
31, 2018 was &#8364;1,208 million, a 12.9% decrease compared with the &#8364;1,387 million
recorded for the year ended December 31, 2017, mainly as a result of lower
expense from amortization of intangible assets, particularly related to
software in Spain, and </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the depreciation of the
currencies of the main countries where BBVA operates against the euro</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of
provisions</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of provisions for the year ended
December 31, 2018 amounted to an expense of &#8364;373 million, a 49.9% decrease
compared with the &#8364;745 million expense recorded for the year ended December 31,
2017, mainly as a result of a decrease in the provisions related to early
retirements and contributions to pension funds in Spain, as a result in part to
the transfer of certain employees to Divarian (as part of the Cerberus
Transaction).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of
impairment on financial assets not measured at fair value through profit or
loss or net gains by modification</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification
for the year ended December 31, 2018 was an expense of &#8364;3,981 million, a 17.1%
decrease compared with the &#8364;4,803 million expense recorded for the year ended
December 31, 2017. In 2017, we recognized impairment losses of &#8364;1,123 million
relating to our stake in Telef&#243;nica, S.A.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The table below provides the breakdown of impairment or
reversal of impairment on financial assets not measured at fair value through
profit or loss for the years ended December 31, 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=54% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=54% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=17% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=17% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=54% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=34% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 <td width=12% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td nowrap valign=top width=54% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial assets at fair
  value through other comprehensive income</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,127</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(99.9)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=top width=54% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial assets at amortized
  cost</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3,980</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3,676</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">8.3</font></font></p>
  </td>
 </tr>
<tr style="height:40.35pt;">
  <td width=54% style="height:40.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or (reversal) of impairment on financial
  assets</font></b></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">not measured at fair value through profit or loss </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:40.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3,981</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:40.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,803</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:double black 2.25pt;height:40.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">(17.1)</font></b></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">135</font></font></p>


</DIV>
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<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Gains (losses) on derecognition
of non-financial assets and subsidiaries, net</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Gains on derecognition of non-financial assets and
subsidiaries, for the year ended December 31, 2018 amounted to &#8364;78 million, a
66% increase compared with the &#8364; 47 million gain recorded for December 31,
2017, mainly as a result of capital gains from the sale of portfolios in the
Mexico and Non-Core Real Estate segments.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit (loss) from non-current
assets and disposal groups classified as held for sale not qualifying as
discontinued operations</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit from non-current assets and disposal groups
classified as held for sale not qualifying as discontinued operations for the
year ended December 31, 2018 was &#8364;815 million, compared with the &#8364;26 million
profit recorded for the year ended December 31, 2017, mainly as a result of the
sale of BBVA Chile and the Cerberus Transaction.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit before tax</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, operating profit before tax
for the year ended December 31, 2018 amounted to &#8364;8,446 million, a 21.9%
increase compared with the &#8364;6,931 million operating profit before tax recorded
for the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related
to profit or loss from continuing operations</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit from continuing operations
for the year ended December 31, 2018 amounted to &#8364;2,295 million, a 5.8%
increase compared with the &#8364;2,169 million expense recorded for the year ended
December 31, 2017, attributable in part to the higher operating profit before
tax. Tax expense related to profit from continuing operations for the year
ended December 31, 2017 was adversely affected by the recognition of the
impairment losses relating to our stake in Telef&#243;nica, S.A., which adversely
affected our operating profit before tax but had no impact on taxable income
for such year.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, profit for the year ended
December 31, 2018 amounted to &#8364;6,151 million, a 29.2% increase compared with
the &#8364;4,762 million recorded for the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent
company</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, profit attributable to parent
company for the year ended December 31, 2018 amounted to &#8364;5,324 million, a
51.3% increase compared with the &#8364;3,519 million recorded for the year ended
December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to
non-controlling interests</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to non-controlling interests for the
year ended December 31, 2018 amounted to &#8364;827 million, a 33.5% decrease
compared with the &#8364;1,243 million profit attributable to non-controlling
interests recorded for the year ended December 31, 2017, mainly as a result of
the decrease in the profit attributable to non-controlling interests in Turkey
and Argentina.</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<h3 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;">&nbsp;</h3>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">136</font></font></p>


</DIV>
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<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h3 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">BBVA Group
results of operations for 2017 compared with 2016</font></b></font></h3>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The table
below shows the Group&#8217;s consolidated income statements for 2017 and 2016:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=top width=66% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 rowspan=2 valign=bottom width=23% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Year Ended December 31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=66% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=66% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=23% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest and other income</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29,296</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27,708</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.7 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest expense</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11,537)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10,648)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=66% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,758</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,059</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.1 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Dividend income</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">334</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">467</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(28.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Share of profit or loss of entities accounted for
  using the equity method</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">25</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(84.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Fee and commission income</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,150</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,804</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Fee and commission expense</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,229)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,086)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.9 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=66% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities (1)</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">938</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,661</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(43.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Exchange differences, net</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,030</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">472</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">118.2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,439</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,272</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating expense</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,223)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,128)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.5 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income on insurance and reinsurance contracts</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,342</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,652</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(8.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Expense on insurance and reinsurance contracts</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,272)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,545)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=66% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">25,270</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24,653</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.5 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11,112)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11,366)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Personnel expense</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6,571)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6,722)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other administrative expense</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4,541)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4,644)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,387)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,426)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=66% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (2)</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,771</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,861</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7.7 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(745)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,186)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(37.2) </font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=66% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td nowrap width=12% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4,803)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3,801)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26.4 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on
  non-financial assets</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(364)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(521)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(30.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gains (losses) on derecognition of non-financial
  assets and subsidiaries, net</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">70</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(32.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Negative goodwill recognized in profit or loss</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=66% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit (loss) from non-current assets and disposal
  groups classified as held for sale not qualifying as discontinued operations</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(31)</font></font></p>
  </td>
 <td nowrap width=11% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,931</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,392</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8.4 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,169)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,699)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27.7 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,762</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,693</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.5 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from discontinued operations, net</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,762</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,693</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.5 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,519</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,475</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=66% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,243</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,218</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.1 </font></font></p>
  </td>
 </tr>
</table></div>



<div style="border:none;border-bottom:solid windowtext 1.0pt;margin-left:0cm;margin-right:396.0pt;padding:31.0pt 31.0pt 1.0pt 31.0pt;">

<p style="border:none;margin:0cm;margin-bottom:2.5pt;padding:0cm;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>

</div>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; Comprises
the following income statement line items contained in the Consolidated
Financial Statements: &#8220;Gains (losses) on derecognition of financial assets and
liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses)
on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on
financial assets and liabilities designated at fair value through profit or loss,
net&#8221; and &#8220;Gains (losses) from hedge accounting, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160;&#160; Calculated
as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and
amortization&#8221;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160;&#160;
Not meaningful.</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">137</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_143"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
changes in our consolidated income statements for 2017 and 2016 were as
follows:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table summarizes net
interest income for </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2017 and 2016</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=64% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 rowspan=2 valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Year Ended December 31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=64% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td nowrap valign=bottom width=64% style="height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=13% style="border:none;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=13% style="border:none;border-top:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td valign=bottom width=10% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=64% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=64% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest and other income</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29,296</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27,708</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.7 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=64% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest expense</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11,537)</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10,648)</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=64% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,758</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17,059</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.1 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest
income for the year ended December 31, 2017 amounted to &#8364;17,758 million, a 4.1%
increase compared with the &#8364;17,059 million recorded for the year ended December
31, 2016, mainly as a result of higher interest rates of interest-earning
assets, particularly foreign loans and advances to customers,&#160; which more than
offset the higher growth in interest and similar expenses. By segment, the
increase in net interest income was driven mainly by net interest income
increases in the following regions:</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:35.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">in the United States, mainly
as a result of the impact of Federal Reserve Board benchmark interest rate
increases;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">in Mexico, mainly as a
result of higher interest rates applicable to loans and advances to customers
and, to a lesser extent, an increase in the average volume of loans and
advances to customers; and</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">in South America, generally
due to increases in the average volume of interest-earning assets, particularly
loans and advances to customers, in the countries in the region where BBVA
operates;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-.3pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">and which was partially offset by:</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-.3pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">the performance of the
Banking Activity in Spain operating segment, which was adversely affected by
the lower average volumes of interest-earning assets (mainly securities,
derivatives and loans); and</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:13.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:13.0pt;">the performance of the
Turkey operating segment, as a result of the negative impact of the
depreciation of the Turkish lira which more than offset the higher interest
rates of interest-earning assets, particularly loans and advances to customers,
and growth in activity, particularly in cash and cash balances with central
banks.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Dividend income </font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Dividend income for the year ended December 31, 2017
amounted to &#8364;334 million, a 28.5% decrease compared with the &#8364;467 million
recorded for the year ended December 31, 2016, mainly as a result of our
divestment in China CITIC Bank Corporation Limited (&#8220;CNCB&#8221;), a 2.14% stake of
which we sold&#160; in 2017, and lower dividends from Telef&#243;nica, S.A.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Share of profit or loss of entities accounted for using the
equity method</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Share of profit of entities accounted for using the equity
method for the year ended December 31, 2017 amounted to &#8364;4 million, an 84%
decrease compared with the &#8364;25 million recorded for the year ended December 31,
2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fee and commission income</font></i></font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
breakdown of fee and commission income for the years ended December 31, 2017
and 2016 is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Year Ended December 31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Bills receivables</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">46 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">52 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Current accounts</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">507 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">469 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Credit and debit cards</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,834 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,679 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.8 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Checks</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">212 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">207 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.4 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Transfers and others payment orders</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">601 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">578 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Insurance product commissions</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">192 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">178 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7.9 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Commitment fees</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">231 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">237 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Contingent risks</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">396 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">406 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Asset Management</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">923 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">839 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Securities fees</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">385 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">335 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14.9 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Custody securities</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">122 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">122 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">700 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">701 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(0.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Fee and commission income</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,150 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,804 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.1 </font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">138</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_144"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:8.5pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fee and commission income </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">increased
by 5.1% to &#8364;7,150 million for the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">year ended
December 31, 2017</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> from &#8364;6,804 million for the</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> year ended December 31, 2016</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">mainly as a result of an increase in
fees and commissions from the use of credit cards in South America, Mexico,
Spain and the United States, and an increase in securities fees and asset
management fees in Spain.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fee and commission expense</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The breakdown of fee and
commission expense for 2017 and 2016 is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Year Ended December 31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Credit and debit cards</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,458</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,334</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Transfers and others payment orders</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">102</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">102</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Commissions for selling insurance</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">60</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">63</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other fees and commissions</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">610</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">587</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.9 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Fee and commission expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,229</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,086</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.9 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:8.5pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fee and commission expense increased by 6.9% to &#8364;2,229
million for the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">year ended December 31</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, 2017 from &#8364;2,086 million for the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">year ended December 31,</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
2016, primarily due to an increase in commissions paid by the BBVA Group to
other financial institutions in connection with the use of credit and debit
cards in South America, Mexico and Spain.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets and liabilities decreased
43.5% to &#8364;938 million for the year ended December 31, 2017, compared with a
gain of &#8364;1,661 million for the year ended December 31, 2016, primarily as
result of lower sales of ALCO (Assets and Liabilities Committee) portfolios in
Spain. In addition, the gain in the prior period was partially due to the sale
of our stake in VISA Europe, Ltd. recorded in the second quarter of 2016, which
resulted in a &#8364;225 million gain.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The table below provides a
breakdown of net gains (losses) on financial assets and liabilities for the
years ended December 31, 2017 and 2016:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Year Ended December 31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=top width=55% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gains (losses) on derecognition of financial assets
  and liabilities not measured at fair value through profit or loss, net</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">985</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,375</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(28.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Available-for-sale financial assets</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">843</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,271</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(33.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Loans and receivables</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">133</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">95</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40.6 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=55% style="height:13.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(7.1)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=top width=55% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gains (losses) on financial
  assets and liabilities held for trading, net</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">218</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">248</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12.1)</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=top width=55% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gains (losses) on financial assets and liabilities designated
  at fair value through profit or loss, net</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(56)</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">114</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (1)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=55% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gains (losses) from hedge accounting, net</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(209)</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(76)</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">175.0</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">938</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,661</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(43.5) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=55% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;height:12.75pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;height:12.75pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=4 nowrap width=100% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)&#160;&#160;&#160; Not meaningful.</font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">139</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_145"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange differences, net</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange differences increased to &#8364;1,030 million for the
year ended December 31, 2017 from &#8364;472 million for the year ended December 31,
2016 mainly as a result of certain financial operations particularly in Turkey.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income for the year ended December 31, 2017
increased 13.1% to &#8364;1,439 million, compared with the &#8364;1,272 million recorded
for the year ended December 31, 2016, mainly as a result of higher income from
real estate-related services in Spain.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating expense for the year ended December 31,
2017 amounted to &#8364;2,223 million, a 4.5% increase compared with the &#8364;2,128
million recorded for the year ended December 31, 2016, mainly as a result of&#160;
higher expense from real estate-related services in Spain.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income and expense on insurance and reinsurance contracts</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income on insurance and reinsurance contracts for the year
ended December 31, 2017 was &#8364;3,342 million, an 8.5% decrease compared with the
&#8364;3,652 million of income recorded for the year ended December 31, 2016, mainly
as a result of lower insurance activity in Spain and the impact of the
depreciation of certain currencies against the euro.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Expense on insurance and reinsurance contracts for the year
ended December 31, 2017 were &#8364;2,272 million, a 10.7% decrease compared with the
&#8364;2,545 million expense recorded for the year ended December 31, 2016, mainly as
a result of the lower insurance activity in Spain and the impact of the
depreciation of certain currencies against the euro mentioned above, which had
a corresponding impact on expenses on insurance and reinsurance contracts.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs, which include personnel expense and
other administrative expense, for the year ended December 31, 2017 amounted to
an expense of &#8364;11,112 million, a 2.2% decrease compared with the &#8364;11,366
million recorded for the year ended December 31, 2016, driven by declines in
both personnel expense and other administrative expense, mainly as a result of
some synergies in Spain (following the integration of Catalunya Banc) and the
impact of the depreciation of certain currencies, particularly the Turkish
Lira.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The table below provides a
breakdown of personnel expense for the years ended December 31, 2017 and 2016:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Year Ended December 31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Wages and salaries</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,163</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,267</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Social security costs</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">761</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">784</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Defined contribution plan
  expense</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">87</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">87</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Defined benefit plan expense</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">62</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">67</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(7.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other personnel expense</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">497</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">516</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Personnel expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,571</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,722</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.2) </font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">140</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_146"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The table below provides a breakdown of other
administrative expense for <a name="_cp_text_1_1818"></a>the years ended December
31, 2017 and 2016:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Year Ended December 31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Technology and systems</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">692 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">673 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.8 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Communications </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">269 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">294 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(8.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Advertising</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">352 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">398 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Property, fixtures and
  materials</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,033 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,080 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;Of which:</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;&#160;&#160; Rent expense</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">581 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">616 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Taxes other than income tax</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">456 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">433 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other expense</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,738 </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,766 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other administrative expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,541 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,644 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.2) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Depreciation and amortization</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Depreciation and amortization for the year ended December
31, 2017 was &#8364;1,387 million, a 2.7% decrease compared with the &#8364;1,426 million
recorded for the year ended December 31, 2016, mainly as a result of the impact
of the depreciation of some currencies against the euro.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of provisions</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of provisions for the year ended
December 31, 2017 amounted to an expense of &#8364;745 million, a 37.2% decrease
compared with the &#8364;1,186 million expense recorded for the year ended December
31, 2016, mainly attributable to provisions recorded in 2016 related to the
invalidity of clauses limiting interest rates in certain mortgage loans with
customers (referred to as&nbsp;&#8221;floor&#8221; clauses) in Spain. BBVA has made
additional provisions during 2017 to cover possible contingencies and claims
that may arise in connection with this matter in amounts that BBVA considers
not significant.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification
for the year ended December 31, 2017 was an expense of &#8364;4,803 million, a 26.4%
increase compared with the &#8364;3,801 million expense recorded for the year ended
December 31, 2016, mainly as a result of the recognition of impairment losses
of &#8364;1,123 million relating to our slightly above 5% stake in Telef&#243;nica, S.A.
resulting from the fact that its stock price fell below our acquisition cost
for a prolonged period </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s non-performing asset ratio was 4.4% as of
December 31, 2017, compared with 4.9% as of December 31, 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on non-financial
assets</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment losses on non-financial assets for the year
ended December 31, 2017 amounted to &#8364;364 million, a 30.1% decrease compared
with the &#8364;521 million loss recorded for the year ended December 31, 2016,
mainly due to lower impairment losses on real estate investment properties in
Spain.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Gains (losses) on derecognition of non-financial assets and
subsidiaries, net</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Gains on derecognition of non-financial assets and
subsidiaries, for the year ended December 31, 2017 amounted to &#8364;47 million, a
32.9% decrease compared with the &#8364;70 million gain recorded for the year ended
December 31, 2016.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit (loss) from
non-current assets and disposal groups classified as held for sale not
qualifying as discontinued operations</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit from non-current assets and disposal groups classified as held for
sale not qualifying as discontinued operations for the year ended December 31,
2017 was &#8364;26 million, compared with the &#8364;31 million loss recorded for the year
ended December 31, 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/(loss)before tax</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, operating profit before tax for the year
ended December 31, 2017 amounted to &#8364;6,931 million, an 8.4% increase compared
with the &#8364;6,392 million recorded for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit from continuing operations for the year
ended December 31, 2017 was an expense of &#8364;2,169 million, a 27.7% increase
compared with the &#8364;1,699 million expense recorded for the year ended December
31, 2016, mainly as a result of the higher operating profit before tax, and </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the recognition of the impairment losses relating to our
stake in Telef&#243;nica, S.A. which adversely affected our operating profit before
tax but had no impact on taxable income</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, profit for the year ended December 31, 2017
amounted to &#8364;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">4,762 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">million, a 1.5% increase compared with the &#8364;4</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">,693</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> million recorded for
the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, profit attributable to parent company for
the year ended December 31, 2017 amounted to &#8364;3,519 million, a 1.3% increase
compared with the &#8364;3,475 million recorded for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to non-controlling interests</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to non-controlling interests for the year ended
December 31, 2017 amounted to &#8364;1,243 million, a 2.1% increase compared with the
&#8364;1,218 million recorded for the year ended December 31, 2016, mainly as a
result of the stronger performance of our Peruvian and Argentinian operations
which have minority shareholders,&#160; as well as the reduction of our stake in our
Argentinian operations during the year, which more than offset the effect of
the completion of the acquisition of an additional 9.95% stake in Garanti in
March 2017 (which resulted in a reduction in the stake held by others in
Garanti).</font></font></p>



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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-26.1pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Results
of Operations by Operating Segment</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
information contained in this section is presented under management criteria.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The tables set forth below reconcile the income statement
of our operating segments presented in this section to the consolidated income
statement of the Group. The &#8220;Adjustments&#8221; column reflects the differences
between the Group income statement and the income statement calculated in
accordance with the management operating segment reporting criteria for 2018,
which is set forth in the immediately succeeding paragraph.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On July 6, 2018, we completed the sale of our 68.19% stake
in BBVA Chile, whose results were consolidated in our South </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">America</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> operating segment
for the period from January 1 until its sale. For additional information on
this sale, see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 4. Information on the Company&#8212;History and Development
of the Company&#8212;Capital Divestitures&#8212;2018</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;. This transaction resulted in a
capital gain, net of taxes, of &#8364;633 million, which was recorded in our
Corporate Center segment. In this section, information relating to our
Corporate Center segment for 2018 has been presented under management criteria
pursuant to which the capital gain resulting from the sale of our stake in BBVA
Chile has been recorded under &#8220;Profit from corporate operations, net&#8221;. However,
for purposes of the Group financial statements, the capital gain from such sale
has been recorded under the heading &#8220;Profit (loss) from non-current assets and
disposal groups classified as held for sale not qualifying as discontinued
operations&#8221;.</font></font></p>



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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:6.75pt;margin-right:6.75pt;width:100%;">
 <tr style="height:11.6pt;">
  <td valign=bottom width=19% style="height:11.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=6% style="height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=13 width=75% style="height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">For the year ended
  December 31, 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:42.35pt;">
  <td valign=bottom width=19% style="height:42.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:solid windowtext 1.0pt;height:42.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Banking Activity
  in Spain</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:42.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Non-Core Real
  Estate</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid windowtext 1.0pt;height:42.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">United States</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid windowtext 1.0pt;height:42.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid windowtext 1.0pt;height:42.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid windowtext 1.0pt;height:42.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">South America</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:42.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Rest of Eurasia</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid windowtext 1.0pt;height:42.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Corporate Center</font></b></font></p>
  </td>
 <td width=1% style="border:none;border-bottom:solid windowtext 1.0pt;height:42.35pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid windowtext 1.0pt;height:42.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:42.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Adjustments</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1)</font></b></font></p>
  </td>
 <td valign=top width=3% style="height:42.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid windowtext 1.0pt;height:42.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Group Income</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.6pt;">
  <td width=19% style="height:11.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=14 valign=top width=81% style="height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.6pt;">
  <td width=19% style="height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Net interest income</font></b></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3,672</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">32</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,276</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">5,568</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3,135</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3,009</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">175</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(276)</font></b></font></p>
  </td>
 <td width=1% style="height:11.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">17,591</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">-</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=3% style="height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">17,591</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.6pt;">
  <td width=19% style="border:none;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,681</font></font></p>
  </td>
 <td width=7% style="border:none;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td width=6% style="border:none;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">596</font></font></p>
  </td>
 <td width=6% style="border:none;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,205</font></font></p>
  </td>
 <td width=6% style="border:none;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">686</font></font></p>
  </td>
 <td width=6% style="border:none;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">631</font></font></p>
  </td>
 <td width=7% style="border:none;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">138</font></font></p>
  </td>
 <td width=6% style="border:none;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(59)</font></font></p>
  </td>
 <td width=1% style="border:none;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=5% style="border:none;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,879</font></font></p>
  </td>
 <td width=7% style="border:none;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">-&nbsp;</font></font></p>
  </td>
 <td valign=top width=3% style="height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="border:none;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,879</font></font></p>
  </td>
 </tr>
<tr style="height:21.35pt;">
  <td width=19% style="height:21.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net <sup>(2)</sup></font></font></p>
  </td>
 <td colspan=2 width=8% style="height:21.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">466</font></font></p>
  </td>
 <td width=7% style="height:21.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">64</font></font></p>
  </td>
 <td width=6% style="height:21.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">109</font></font></p>
  </td>
 <td width=6% style="height:21.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">223</font></font></p>
  </td>
 <td width=6% style="height:21.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td width=6% style="height:21.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">405</font></font></p>
  </td>
 <td width=7% style="height:21.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">101</font></font></p>
  </td>
 <td width=6% style="height:21.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(155)</font></font></p>
  </td>
 <td width=1% style="height:21.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=5% style="height:21.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,223</font></font></p>
  </td>
 <td width=7% style="height:21.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">-</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=3% style="height:21.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="height:21.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,223</font></font></p>
  </td>
 </tr>
<tr style="height:13.4pt;">
  <td width=19% style="height:13.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Other operating income and expense, net <sup>(3)</sup></font></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">124</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:13.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(59)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">197</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">70</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(344)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:13.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">57</font></font></p>
  </td>
 <td width=1% style="border:none;border-bottom:solid windowtext 1.0pt;height:13.4pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid windowtext 1.0pt;height:13.4pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">54</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:13.4pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">-</font></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=3% style="height:13.4pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">54</font></font></p>
  </td>
 </tr>
<tr style="height:11.6pt;">
  <td width=19% style="height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Gross income</font></b></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">5,943</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">38</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,989</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">7,193</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3,901</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3,701</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">415</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(432)</font></b></font></p>
  </td>
 <td width=1% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">23,747</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">-</font></b></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=3% style="height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">23,747</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.6pt;">
  <td width=19% style="height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Administration costs</font></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(2,974)</font></font></p>
  </td>
 <td width=7% style="border:none;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(60)</font></font></p>
  </td>
 <td width=6% style="border:none;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,684)</font></font></p>
  </td>
 <td width=6% style="border:none;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(2,115)</font></font></p>
  </td>
 <td width=6% style="border:none;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,105)</font></font></p>
  </td>
 <td width=6% style="border:none;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,565)</font></font></p>
  </td>
 <td width=7% style="border:none;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(285)</font></font></p>
  </td>
 <td width=6% style="border:none;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(706)</font></font></p>
  </td>
 <td width=1% style="border:none;height:11.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=5% style="border:none;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(10,494)</font></font></p>
  </td>
 <td width=7% style="border:none;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">-</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=3% style="height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="border:none;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(10,494)</font></font></p>
  </td>
 </tr>
<tr style="height:11.6pt;">
  <td width=19% style="height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(288)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(5)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(178)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(253)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(138)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(125)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(6)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(214)</font></font></p>
  </td>
 <td width=1% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,208)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">-</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=3% style="height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,208)</font></font></p>
  </td>
 </tr>
<tr style="height:11.6pt;">
  <td width=19% style="height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Net margin before provisions <sup>(4)</sup></font></b></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,680</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(28)</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,127</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,825</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,658</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,011</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">124</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,352)</font></b></font></p>
  </td>
 <td width=1% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">12,045</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">-</font></b></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=3% style="height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">12,045</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.65pt;">
  <td width=19% style="height:16.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Impairment or reversal of impairment on
  financial assets not measured at fair value through profit or loss or net
  gains by modification</font></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;height:16.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(371)</font></font></p>
  </td>
 <td width=7% style="border:none;height:16.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 <td width=6% style="border:none;height:16.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(225)</font></font></p>
  </td>
 <td width=6% style="border:none;height:16.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,555)</font></font></p>
  </td>
 <td width=6% style="border:none;height:16.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,202)</font></font></p>
  </td>
 <td width=6% style="border:none;height:16.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(638)</font></font></p>
  </td>
 <td width=7% style="border:none;height:16.65pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">24</font></font></p>
  </td>
 <td width=6% style="border:none;height:16.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td width=1% style="border:none;height:16.65pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=5% style="border:none;height:16.65pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(3,981)</font></font></p>
  </td>
 <td width=7% style="border:none;height:16.65pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">-</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=3% style="height:16.65pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="border:none;height:16.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(3,981)</font></font></p>
  </td>
 </tr>
<tr style="height:13.95pt;">
  <td width=19% style="height:13.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(292)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:13.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(89)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">16</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">24</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(8)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(65)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:13.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(65)</font></font></p>
  </td>
 <td width=1% style="border:none;border-bottom:solid windowtext 1.0pt;height:13.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid windowtext 1.0pt;height:13.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(483)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:13.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">866&nbsp;</font></font></p>
  </td>
 <td valign=top width=3% style="height:13.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">382</font></font></p>
  </td>
 </tr>
<tr style="height:11.6pt;">
  <td width=19% style="height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Operating&#160; profit/ (loss) before tax</font></b></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,017</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(129)</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">919</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3,294</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,448</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,307</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">144</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,420)</font></b></font></p>
  </td>
 <td width=1% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">7,580</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">866&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=3% style="height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">8,446</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.25pt;">
  <td width=19% style="height:15.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Tax expense or income related to profit or
  loss from continuing operations</font></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:15.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(492)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">52</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:15.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(184)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:15.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(909)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:15.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(294)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:15.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(475)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(51)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:15.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">290</font></font></p>
  </td>
 <td width=1% style="border:none;border-bottom:solid windowtext 1.0pt;height:15.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid windowtext 1.0pt;height:15.25pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(2,062)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:15.25pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(233)&nbsp;</font></font></p>
  </td>
 <td valign=top width=3% style="height:15.25pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(2,295)</font></font></p>
  </td>
 </tr>
<tr style="height:11.6pt;">
  <td width=19% style="height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit from continuing operations excluding
  corporate operations</font></b></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,525</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(78)</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">735</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,385</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,154</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">833</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">93</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,130)</font></b></font></p>
  </td>
 <td width=1% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">5,518</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=3% style="height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">6,151</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.75pt;">
  <td width=19% style="height:8.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:8.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:8.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:8.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:8.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:8.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:8.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:8.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">633</font></font></p>
  </td>
 <td width=1% style="border:none;border-bottom:solid windowtext 1.0pt;height:8.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid windowtext 1.0pt;height:8.75pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">633</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:8.75pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(633)&nbsp;</font></font></p>
  </td>
 <td valign=top width=3% style="height:8.75pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:8.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.6pt;">
  <td width=19% style="height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit</font></b></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,525</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(78)</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">735</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,385</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,154</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">833</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">93</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(497)</font></b></font></p>
  </td>
 <td width=1% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">6,151</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td valign=top width=3% style="height:11.6pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:11.6pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">6,151</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.35pt;">
  <td width=19% style="height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit attributable to non-controlling
  interests </font></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(585)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(241)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid windowtext 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td width=1% style="border:none;border-bottom:solid windowtext 1.0pt;height:9.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid windowtext 1.0pt;height:9.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(827)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid windowtext 1.0pt;height:9.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td valign=top width=3% style="height:9.35pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid windowtext 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(827)</font></font></p>
  </td>
 </tr>
<tr style="height:12.3pt;">
  <td width=19% style="height:12.3pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td colspan=2 width=8% style="border:none;border-bottom:double windowtext 2pt;height:12.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,522</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:double black 2.25pt;height:12.3pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(78)</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:double black 2.25pt;height:12.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">735</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:double black 2.25pt;height:12.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,384</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:double black 2.25pt;height:12.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">569</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:double black 2.25pt;height:12.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">591</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:double black 2.25pt;height:12.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">93</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:double windowtext 2pt;height:12.3pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(494)</font></b></font></p>
  </td>
 <td width=1% style="border:none;border-bottom:double windowtext 2pt;height:12.3pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:double windowtext 2pt;height:12.3pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">5,324</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:double windowtext 2pt;height:12.3pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td valign=top width=3% style="height:12.3pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:double windowtext 2pt;height:12.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">5,324</font></b></font></p>
  </td>
 </tr>
<tr height=0>
  <td width=19% style="border:none;">&nbsp;</td>
 <td width=6% style="border:none;">&nbsp;</td>
 <td width=2% style="border:none;">&nbsp;</td>
 <td width=7% style="border:none;">&nbsp;</td>
 <td width=6% style="border:none;">&nbsp;</td>
 <td width=6% style="border:none;">&nbsp;</td>
 <td width=6% style="border:none;">&nbsp;</td>
 <td width=6% style="border:none;">&nbsp;</td>
 <td width=7% style="border:none;">&nbsp;</td>
 <td width=6% style="border:none;">&nbsp;</td>
 <td width=1% style="border:none;">&nbsp;</td>
 <td width=5% style="border:none;">&nbsp;</td>
 <td width=7% style="border:none;">&nbsp;</td>
 <td width=3% style="border:none;">&nbsp;</td>
 <td width=14% style="border:none;">&nbsp;</td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">(1)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">Adjustments
in 2018 relate to the treatment of the capital gain derived from the sale of
our 68.19% stake in BBVA Chile. In particular, information relating to our
Corporate Center segment for 2018 has been presented under management criteria
pursuant to which such capital gain has been recorded under &#8220;Profit from
corporate operations, net&#8221;. However, for purposes of the Group Income, the
capital gain from the sale of our stake in BBVA Chile has been recorded under
the heading &#8220;Profit (loss) from non-current assets and disposal groups
classified as held for sale not qualifying as discontinued operations&#8221; (which
is included in &#8220;Provisions or reversal of provisions and other results&#8221; in the
table above).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">(2)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">Includes the following income statement line items contained in
the Consolidated Financial Statements: &#8220;Gains (losses) on derecognition of
financial assets and liabilities not measured at fair value through profit or
loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities held for
trading, net&#8221;, &#8220;Gains (losses) on non-trading financial assets mandatorily at
fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets
and liabilities designated at fair value through profit or loss, net&#8221;, &#8220;Gains
(losses) from hedge accounting, net&#8221; and &#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">(3)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">Includes
the following income statement line items contained in the Consolidated
Financial Statements: &#8220;Dividend income&#8221;, &#8220;Share of profit or loss of entities
accounted for using the equity method&#8221; and &#8220;Income/Expense on insurance and
reinsurance contracts&#8221; and &#8220;Other operating income/expense&#8221;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">(4)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">&#8220;Net margin before provisions&#8221; is calculated as &#8220;Gross income&#8221;
less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">144</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_150"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.2pt;">
  <td valign=bottom width=18% style="height:12.2pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=8 valign=bottom width=72% style="height:12.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">For the Year Ended
  December 31, 2017 (1)</font></b></font></p>
  </td>
 <td valign=bottom width=3% style="height:12.2pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=7% style="height:12.2pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.05pt;">
  <td valign=bottom width=18% style="height:17.05pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:17.05pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Banking Activity
  in Spain</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:17.05pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Non-Core Real
  Estate</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:17.05pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">United States</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:17.05pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:17.05pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Turkey </font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:17.05pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">South America</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:17.05pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Rest of Eurasia</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:17.05pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Corporate Center</font></b></font></p>
  </td>
 <td width=3% style="height:17.05pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.05pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Group Income</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.7pt;">
  <td width=18% style="height:9.7pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=8 width=72% style="border:none;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 <td width=3% style="height:9.7pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;height:9.7pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.7pt;">
  <td valign=bottom width=18% style="height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3,738</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">71</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,119</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">5,476</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3,331</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3,200</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">180</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(357)</font></b></font></p>
  </td>
 <td width=3% style="height:9.7pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">17,758</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.7pt;">
  <td valign=bottom width=18% style="height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=12% style="border:none;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,561</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">644</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,219</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">703</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">713</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">164</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(86)</font></font></p>
  </td>
 <td width=3% style="height:9.7pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=7% style="border:none;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,921</font></font></p>
  </td>
 </tr>
<tr style="height:20.75pt;">
  <td width=18% style="height:20.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net <sup>(2)</sup></font></font></p>
  </td>
 <td width=12% style="height:20.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">555</font></font></p>
  </td>
 <td width=10% style="height:20.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=9% style="height:20.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">111</font></font></p>
  </td>
 <td width=8% style="height:20.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">249</font></font></p>
  </td>
 <td width=8% style="height:20.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td width=8% style="height:20.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">480</font></font></p>
  </td>
 <td width=8% style="height:20.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">123</font></font></p>
  </td>
 <td width=9% style="height:20.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">436</font></font></p>
  </td>
 <td width=3% style="height:20.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:20.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,968</font></font></p>
  </td>
 </tr>
<tr style="height:14.4pt;">
  <td width=18% style="height:14.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Other operating income and expense, net <sup>(3)</sup></font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">327</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(91)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">177</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">67</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">59</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">80</font></font></p>
  </td>
 <td width=3% style="height:14.4pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">622</font></font></p>
  </td>
 </tr>
<tr style="height:9.7pt;">
  <td valign=bottom width=18% style="height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">6,180</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(17)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,876</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">7,122</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,115</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,451</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">468</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">73</font></b></font></p>
  </td>
 <td width=3% style="height:9.7pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">25,270</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.7pt;">
  <td valign=bottom width=18% style="height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Administration costs</font></font></p>
  </td>
 <td width=12% style="border:none;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(3,071)</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(81)</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,665)</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(2,195)</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,325)</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,886)</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(297)</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(592)</font></font></p>
  </td>
 <td width=3% style="height:9.7pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=7% style="border:none;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(11,112)</font></font></p>
  </td>
 </tr>
<tr style="height:9.7pt;">
  <td valign=bottom width=18% style="height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(319)</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(18)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(187)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(256)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(178)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(121)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(11)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(297)</font></font></p>
  </td>
 <td width=3% style="height:9.7pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,387)</font></font></p>
  </td>
 </tr>
<tr style="height:9.7pt;">
  <td valign=bottom width=18% style="height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Net margin before provisions<sup>(4)</sup></font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,790</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(116)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,025</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,671</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,612</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,444</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">160</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(815)</font></b></font></p>
  </td>
 <td width=3% style="height:9.7pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">12,770</font></b></font></p>
  </td>
 </tr>
<tr style="height:29.4pt;">
  <td valign=bottom width=18% style="height:29.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Impairment or reversal of impairment on
  financial assets not measured at fair value through profit or loss or net
  gains by modification </font></font></p>
  </td>
 <td width=12% style="border:none;height:29.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(567)</font></font></p>
  </td>
 <td width=10% style="border:none;height:29.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(138)</font></font></p>
  </td>
 <td width=9% style="border:none;height:29.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(241)</font></font></p>
  </td>
 <td width=8% style="border:none;height:29.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,651)</font></font></p>
  </td>
 <td width=8% style="border:none;height:29.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(453)</font></font></p>
  </td>
 <td width=8% style="border:none;height:29.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(650)</font></font></p>
  </td>
 <td width=8% style="border:none;height:29.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">23</font></font></p>
  </td>
 <td width=9% style="border:none;height:29.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,125)</font></font></p>
  </td>
 <td width=3% style="height:29.4pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=7% style="border:none;height:29.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(4,803)</font></font></p>
  </td>
 </tr>
<tr style="height:12.85pt;">
  <td valign=bottom width=18% style="height:12.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(369)</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(403)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(36)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(35)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(103)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(6)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(73)</font></font></p>
  </td>
 <td width=3% style="height:12.85pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,036)</font></font></p>
  </td>
 </tr>
<tr style="height:9.7pt;">
  <td valign=bottom width=18% style="height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Operating&#160; profit/ (loss) before tax</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,854</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(657)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">748</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,984</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,147</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,691</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">177</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(2,013)</font></b></font></p>
  </td>
 <td width=3% style="height:9.7pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">6,931</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.4pt;">
  <td valign=bottom width=18% style="height:21.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Tax expense or income related to profit or
  loss from continuing operations</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:21.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(477)</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:21.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">166</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:21.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(262)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(797)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(426)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(486)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(52)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:21.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">166</font></font></p>
  </td>
 <td width=3% style="height:21.4pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(2,169)</font></font></p>
  </td>
 </tr>
<tr style="height:9.7pt;">
  <td valign=bottom width=18% style="height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,377</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(491)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">486</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,187</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,720</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,205</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">125</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,847)</font></b></font></p>
  </td>
 <td width=3% style="height:9.7pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,762</font></b></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=18% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit from discontinued operations /Profit
  from corporate operations, net</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=3% style="height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.7pt;">
  <td valign=bottom width=18% style="height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,377</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(491)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">486</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,187</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,720</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,205</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">125</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,847)</font></b></font></p>
  </td>
 <td width=3% style="height:9.7pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.7pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,762</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.4pt;">
  <td valign=bottom width=18% style="height:14.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit attributable to non-controlling
  interests </font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(895)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(345)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td width=3% style="height:14.4pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:14.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,243)</font></font></p>
  </td>
 </tr>
<tr style="height:10.3pt;">
  <td valign=bottom width=18% style="height:10.3pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:double black 2.25pt;height:10.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,374</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:double black 2.25pt;height:10.3pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(490)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:double black 2.25pt;height:10.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">486</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:double black 2.25pt;height:10.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,187</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:double black 2.25pt;height:10.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">826</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:double black 2.25pt;height:10.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">861</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:double black 2.25pt;height:10.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">125</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:double black 2.25pt;height:10.3pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,848)</font></b></font></p>
  </td>
 <td width=3% style="height:10.3pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:double black 2.25pt;height:10.3pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3,519</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; Revised. See
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8220;Presentation of Financial Information&#8212;Changes in Operating Segments&#8221;.</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160; Includes &#8220;Gains (losses)
on derecognition of financial assets and liabilities not measured at fair value
through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and
liabilities designated at fair value through profit or loss, net&#8221;, &#8220;Gains
(losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains
(losses) from hedge accounting, net&#8221; and &#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160;&#160; Includes &#8220;Dividend
income&#8221;, &#8220;Share of profit or loss of entities accounted for using the equity
method&#8221; and &#8220;Income/Expense on insurance and reinsurance contracts&#8221; and &#8220;Other
operating income/expense&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(4) &#8220;Net margin before provisions&#8221; is calculated
as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and
amortization&#8221;.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.8pt;">
  <td valign=bottom width=23% style="height:11.8pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=10 width=77% style="height:11.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">For the Year Ended
  December 31, 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.8pt;">
  <td valign=bottom width=23% style="height:24.8pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Banking Activity
  in Spain</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Non-Core Real
  Estate</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:24.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">United States</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Turkey </font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">South America</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Rest of Eurasia</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:24.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Corporate Center</font></b></font></p>
  </td>
 <td width=2% style="height:24.8pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Group Income</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.35pt;">
  <td width=23% style="height:9.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=10 width=77% style="height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.35pt;">
  <td valign=bottom width=23% style="height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3,877</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">60</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,953</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">5,126</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3,404</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,930</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">166</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(455)</font></b></font></p>
  </td>
 <td width=2% style="height:9.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">17,059</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.35pt;">
  <td valign=bottom width=23% style="height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,477</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td width=7% style="border:none;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">638</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,149</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">731</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">634</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">194</font></font></p>
  </td>
 <td width=6% style="border:none;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(110)</font></font></p>
  </td>
 <td width=2% style="height:9.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,718</font></font></p>
  </td>
 </tr>
<tr style="height:18.8pt;">
  <td width=23% style="height:18.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net <sup>(1)</sup></font></font></p>
  </td>
 <td valign=bottom width=10% style="height:18.8pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">786</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:18.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td valign=bottom width=7% style="height:18.8pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">142</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:18.8pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">222</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:18.8pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">77</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:18.8pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">464</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:18.8pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">87</font></font></p>
  </td>
 <td valign=bottom width=6% style="height:18.8pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">357</font></font></p>
  </td>
 <td width=2% style="height:18.8pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% style="height:18.8pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,133</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=23% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Other operating income and expense, net <sup>(2)</sup></font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">277</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(68)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(27)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">270</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">46</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">45</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">177</font></font></p>
  </td>
 <td width=2% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">744</font></font></p>
  </td>
 </tr>
<tr style="height:9.35pt;">
  <td valign=bottom width=23% style="height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">6,416</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(6)</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,706</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">6,766</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,257</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,054</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">491</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(31)</font></b></font></p>
  </td>
 <td width=2% style="height:9.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">24,653</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.35pt;">
  <td valign=bottom width=23% style="height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Administration costs</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(3,252)</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(96)</font></font></p>
  </td>
 <td width=7% style="border:none;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,652)</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(2,149)</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,524)</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,793)</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(330)</font></font></p>
  </td>
 <td width=6% style="border:none;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(569)</font></font></p>
  </td>
 <td width=2% style="height:9.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(11,366)</font></font></p>
  </td>
 </tr>
<tr style="height:9.35pt;">
  <td valign=bottom width=23% style="height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(327)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(27)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(190)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(247)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(214)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(100)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(307)</font></font></p>
  </td>
 <td width=2% style="height:9.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,426)</font></font></p>
  </td>
 </tr>
<tr style="height:9.35pt;">
  <td valign=bottom width=23% style="height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Net margin before provisions<sup>(3)</sup></font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,837</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(130)</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">863</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,371</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,519</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,160</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">149</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(907)</font></b></font></p>
  </td>
 <td width=2% style="height:9.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">11,862</font></b></font></p>
  </td>
 </tr>
<tr style="height:37.75pt;">
  <td valign=bottom width=23% style="height:37.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Impairment or reversal of impairment on
  financial assets not measured at fair value through profit or loss or net
  gains by modification </font></font></p>
  </td>
 <td width=10% style="border:none;height:37.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(763)</font></font></p>
  </td>
 <td width=9% style="border:none;height:37.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(138)</font></font></p>
  </td>
 <td width=7% style="border:none;height:37.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(221)</font></font></p>
  </td>
 <td width=8% style="border:none;height:37.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,626)</font></font></p>
  </td>
 <td width=9% style="border:none;height:37.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(520)</font></font></p>
  </td>
 <td width=8% style="border:none;height:37.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(526)</font></font></p>
  </td>
 <td width=8% style="border:none;height:37.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">30</font></font></p>
  </td>
 <td width=6% style="border:none;height:37.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(37)</font></font></p>
  </td>
 <td width=2% style="height:37.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;height:37.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(3,801)</font></font></p>
  </td>
 </tr>
<tr style="height:13.2pt;">
  <td valign=bottom width=23% style="height:13.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(807)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:13.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(475)</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:13.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(30)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(67)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:13.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(93)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(82)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">23</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(139)</font></font></p>
  </td>
 <td width=2% style="height:13.2pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,668)</font></font></p>
  </td>
 </tr>
<tr style="height:9.35pt;">
  <td valign=bottom width=23% style="height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Operating&#160; profit/ (loss) before tax</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,268</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(743)</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">612</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">2,678</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,906</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,552</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">203</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,084)</font></b></font></p>
  </td>
 <td width=2% style="height:9.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">6,392</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.65pt;">
  <td valign=bottom width=23% style="height:20.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Tax expense or income related to profit or
  loss from continuing operations</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:20.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(360)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:20.65pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">148</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:20.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(153)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:20.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(697)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:20.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(390)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:20.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(487)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:20.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(52)</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:20.65pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">293</font></font></p>
  </td>
 <td width=2% style="height:20.65pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:20.65pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,699)</font></font></p>
  </td>
 </tr>
<tr style="height:9.35pt;">
  <td valign=bottom width=23% style="height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">908</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(595)</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">459</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,981</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,515</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,065</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">151</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(791)</font></b></font></p>
  </td>
 <td width=2% style="height:9.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,693</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.05pt;">
  <td width=23% style="height:20.05pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit from discontinued operations /Profit
  from corporate operations, net </font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:20.05pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:20.05pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:20.05pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:20.05pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:20.05pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:20.05pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:20.05pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:20.05pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=2% style="height:20.05pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:20.05pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.35pt;">
  <td valign=bottom width=23% style="height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">908</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(595)</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">459</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,981</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,515</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,065</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">151</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(791)</font></b></font></p>
  </td>
 <td width=2% style="height:9.35pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.35pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">4,693</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.85pt;">
  <td valign=bottom width=23% style="height:16.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit attributable to non-controlling
  interests </font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:16.85pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:16.85pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:16.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:16.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(917)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:16.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(294)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:16.85pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:16.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td width=2% style="height:16.85pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(1,218)</font></font></p>
  </td>
 </tr>
<tr style="height:10.0pt;">
  <td valign=bottom width=23% style="height:10.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:double black 2.25pt;height:10.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">905</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:double black 2.25pt;height:10.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(595)</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:double black 2.25pt;height:10.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">459</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:double black 2.25pt;height:10.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">1,980</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:double black 2.25pt;height:10.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">599</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:double black 2.25pt;height:10.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">771</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:double black 2.25pt;height:10.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">151</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:double black 2.25pt;height:10.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">(794)</font></b></font></p>
  </td>
 <td width=2% style="height:10.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:double black 2.25pt;height:10.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">3,475</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1) &#160;Includes
&#8220;Gains (losses) on derecognition of financial assets and liabilities not
measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on
financial assets and liabilities designated at fair value through profit or
loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities held for
trading, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221; and &#8220;Exchange
differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160; Includes &#8220;Dividend
income&#8221;, &#8220;Share of profit or loss of entities accounted for using the equity
method&#8221; and &#8220;Income/Expense on insurance and reinsurance contracts&#8221; and &#8220;Other
operating income/expense&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3) &#8220;Net margin before provisions&#8221; is
calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and
amortization&#8221;.</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<h3 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;">&nbsp;</h3>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">146</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_152"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h3 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">Results of operations by
operating segment for 2018 Compared with 2017</font></b></font></h3>

<h4 style="border:none;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">BANKING ACTIVITY IN SPAIN</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=55% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=34% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31, </font></b></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=55% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=17% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td width=17% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;"> (1)</font></b></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:36.75pt;">
  <td width=55% style="height:36.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=34% style="height:36.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:36.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,672 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,738 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1.8) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,681 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,561 </font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7.7 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (2)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">466 </font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">555 </font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(16.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net </font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(361)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(106)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">239.4 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">485 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">433 </font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,943 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,180 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3.8) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,974)</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3,071)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(288)</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(319)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(9.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (3)</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,680 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,790 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3.9) </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=55% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:24.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(371)</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:24.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(567)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(34.6) </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=55% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(292)</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(369)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(20.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,017 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,854 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8.8 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(492)</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(477)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,525 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,377 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10.8 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,525 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,377 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10.8 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,522 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,374 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10.8 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=55% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=55% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160; Revised. See
&#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Presentation of Financial Information&#8212;Changes in Operating Segments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2) Comprises the following
income statement line items contained in the Consolidated Financial Statements:
&#8220;Gains (losses) on derecognition of financial assets and liabilities not
measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on
financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on
non-trading financial assets mandatorily at fair value through profit or loss,
net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at fair
value through profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221;
and &#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160;&#160; Calculated as &#8220;Gross income&#8221; less
&#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">147</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_153"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this operating
segment for the year ended December 31, 2018 amounted to &#8364;3,672 million, a 1.8%
decrease compared with the &#8364;3,738 million recorded for the year ended December
31, 2017, mainly as a result of the decrease in the average volume of
interest-earning assets and the increase in the costs of wholesale funding due
to the fact that targeted longer-term refinancing operations (TLTRO) were
partially replaced by other types of funding which bear higher interest rates.
The net interest margin over total average assets of this operating segment
amounted to 1.13% for the year ended December 31, 2018 compared with 1.18% for<a name="_cp_text_1_1886"></a> the year ended December 31, 2017.</font></font><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees
and commissions of this operating segment for the year ended December 31, 2018
amounted to &#8364;1,681 million, a 7.7% increase compared with the &#8364;1,561 million
recorded for the year ended December 31, 2017, mainly as a result of the
significant contribution from asset management fees and banking commissions,
particularly those associated with account maintenance. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets and
liabilities and exchange differences of this operating segment for the year
ended December 31, 2018 was a net gain of &#8364;466 million, a 16.1% decrease
compared with the &#8364;555 million net gain recorded for the year ended December
31, 2017, mainly as a result of lower sales of ALCO (Assets and Liabilities
Committee) portfolios.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating expense of
this operating segment for the year ended December 31, 2018 amounted to &#8364;361
million, compared with the &#8364;106 million recorded for the year ended December
31, 2017, mainly as a result of the greater contributions made to the Deposit
Guarantee Fund of Credit Institutions and to the ECB&#8217;s Single Resolution Fund
as compared with 2017.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income and expense on insurance and reinsurance contracts</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net income on insurance and reinsurance contracts of this
operating segment for the year ended December 31, 2018 was &#8364;485 million, a
12.0% increase compared with the &#8364;433 million recorded for the year ended
December 31, 2017, mainly as a result of a lower claims ratio and new contract
origination.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration
costs of this operating segment for the year ended December 31, 2018 amounted
to &#8364;2,974 million, a 3.1% decrease compared with the &#8364;3,071 million recorded
for the year ended December 31, 2017, mainly as a result of a decline in both
personnel expense and other administrative expense driven by the evolution of
efficiency plans (which generated savings of &#8364;19 million on communications,
rent and legal expense).
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal
of impairment on financial assets not measured at fair value through profit or
loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification
of this operating segment for the year ended December 31, 2018 amounted to a
&#8364;371 million expense, a 34.6% decrease compared with the &#8364;567 million expense
recorded for the year ended December 31, 2017, mainly as a result of lower
gross additions to non-performing loans and loan-loss provisions for large
customers.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of provisions and other results</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of
provisions and other results of this operating segment for the year ended
December 31, 2018 were a &#8364;292 million expense, a 20.9% decrease compared with
the &#8364;369 million expense recorded for the year ended December 31, 2017, mainly
as a result of the decrease in provisions related to early retirements and
contributions to pension funds.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-indent:4.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/ (loss) before tax</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, operating profit before tax
of this operating segment for the year ended December 31, 2018 was &#8364;2,017
million, an 8.8% increase compared with the &#8364;1,854 million recorded for the
year ended December 31, 2017.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit from continuing operations of
this operating segment for the year ended December 31, 2018 was an expense of
&#8364;492 million, a 3.1% increase compared with the &#8364;477 million expense recorded
for the year ended December 31, 2017 mainly as a result of the higher operating
profit before tax. Tax expense amounted to 24.4% of operating profit before tax
for the year ended December 31, 2018 and 25.7% for the year ended December 31,
2017.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
profit attributable to parent company of this operating segment for the year
ended December 31, 2018 amounted to &#8364;1,522 million, a 10.8% increase compared
with the &#8364;1,374 million recorded for the year ended December 31, 2017.</font></font></p>

<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;">&nbsp;</h4>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">149</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">NON-CORE REAL ESTATE</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=61% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=26% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td valign=bottom width=13% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=61% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=13% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td width=13% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017 (1)</font></u></b></font></p>
  </td>
 <td width=13% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td width=61% style="height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=26% style="height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=13% style="height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=61% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">32 </font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">71 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(55.8) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=61% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1 </font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(56.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=61% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (2)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">64 </font></font></p>
  </td>
 <td nowrap width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=61% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expenses, net</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(59)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(91)</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(35.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=61% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expenses on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=61% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38 </font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (3)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=61% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(60)</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(81)</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(25.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=61% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(18)</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(73.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=61% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (4)</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(28)</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(116)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(76.1) </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=61% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(138)</font></font></p>
  </td>
 <td nowrap width=13% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(91.0) </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=61% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other results</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(89)</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(403)</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(77.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=61% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(129)</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(657)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(80.3) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=61% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">52 </font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">166 </font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(68.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=61% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(78)</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(491)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(84.2) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=61% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=61% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(78)</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(491)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(84.2) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=61% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=61% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(78)</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(490)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(84.2) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; Revised. See
&#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Presentation of Financial Information&#8212;Changes in Operating Segments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160; Comprises the following
income statement line items contained in the Consolidated Financial Statements:
&#8220;Gains (losses) on derecognition of financial assets and liabilities not
measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial
assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading
financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains
(losses) on financial assets and liabilities designated at fair value through
profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221; and &#8220;Exchange
differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160;&#160; Not meaningful.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(4) &#8220;Net margin before provisions&#8221; is
calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and
amortization&#8221;.</font></font><font style="border:none;">
&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;text-indent:21.3pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net real estate exposure (which includes loans to
developers, foreclosed real estate assets and other real estate assets, net of
provisions) amounted to &#8364;2,498 million as of December 31, 2018, a 61.1%
reduction in year-on-year terms compared to net real estate exposure of &#8364;6,416 million
as of December 31, 2017 as a result mainly of the Cerberus Transaction. In
addition, outstanding performing loans to developers in an aggregate amount of
&#8364;260 million were transferred from the Non-Core Real Estate segment to the
Banking Activity in Spain segment in 2018.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;text-indent:21.3pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In recent
years BBVA has taken several steps to reduce its exposure to real estate assets
in Spain. As part of such efforts, BBVA entered into the Cerberus Transaction.
As of December 31, 2018, BBVA maintained a 20% stake in Divarian, which was
recorded in the Corporate Center. Additionally, on December 21, 2018, the Group
sold its 25.24% stake in Testa for &#8364;478 million. Moreover, on December 21,
2018, BBVA reached an agreement with Voyager Investing UK Limited Partnership,
an entity managed by Canada Pension Plan Investment Board, for the transfer of
a portfolio of credit rights which is mainly composed by non-performing and in
default mortgage credits, with an aggregate outstanding balance amounting to
approximately &#8364;1,490 million. Completion of the transaction is subject to
fulfilment of certain conditions and is expected to take place during the
second quarter of 2019. For additional information on these sales, see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item
4. Information on the Company&#8212;History and Development of the Company&#8212;Capital
Divestitures&#8212;2018</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this operating segment for the year ended December
31, 2018 amounted to &#8364;32 million, a 55.8% decrease compared with the &#8364;71
million recorded for the year ended December 31, 2017 mainly as a result of the
transfer of certain loan portfolios, including as a result of the Cerberus
Transaction.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and exchange
differences, net of this operating segment for the year ended December 31, 2018
amounted to &#8364;64 million, compared with nil for the year ended December 31, 2017
mainly due to the payment received from the Deposit Guarantee Fund of Credit
Institutions in relation to an impairment recorded in 2017.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating expense of
this operating segment for the year ended December 31, 2018 was &#8364;59 million, a
35.7% decrease compared with the &#8364;91 million recorded for the year ended
December 31, 2017.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this operating segment for the year ended
December 31, 2018 amounted to &#8364;60 million, a 25.1% decrease compared with the
&#8364;81 million recorded for the year ended December 31, 2017, mainly as a result
of the Cerberus Transaction which resulted in the transfer of certain employees
to Divarian.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">151</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal
of impairment on financial assets not measured at fair value through profit or
loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets not measured at
fair value through profit or loss or net gains by modification of this
operating segment for the year ended December 31, 2018 was an expense of &#8364;12
million, a 91.0% decrease compared with the &#8364;138 million expense recorded for
the year ended December 31, 2017, mainly as a result of decreased impaired
assets due to the reduction of the portfolio size.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of provisions and other results</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of provisions and other results of this operating
segment for the year ended December 31, 2018 amounted to an &#8364;89 million
expense, a 77.8% decrease compared with the &#8364;403 million expense recorded for
the year ended December 31, 2017, mainly as a result of lower provisions due to
the Cerberus Transaction, including the transfer of certain employees to
Divarian.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/ (loss) before tax</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, operating loss before tax of this operating
segment for the year ended December 31, 2018 was &#8364;129 million, an 80.3%
decrease compared with the &#8364;657 million loss recorded for the year ended December
31, 2017.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax income related to loss from continuing operations of this operating
segment for the year ended December 31, 2018 amounted to &#8364;52 million, a 68.8%
decrease compared with the &#8364;166 million income recorded for the year ended
December 31, 2017. Consequently, tax income amounted to 40.0% of the operating
loss before tax for the year ended December 31, 2018, and 25.2% for the year
ended December 31, 2017.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, profit attributable to parent company of
this operating segment for the year ended December 31, 2018 was a loss of &#8364;78
million, an 84.2% decrease compared with the &#8364;490 million loss recorded for the
year ended December 31, 2017.</font></font><font style="border:none;">
&nbsp;</font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;">&nbsp;</h4>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">152</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">UNITED STATES</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=57% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017 (1) </font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=57% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,276</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,119</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7.4 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">596</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">644</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(7.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and liabilities
  and exchange differences, net (2)</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">109</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">111</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=16% style="height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9</font></font></p>
  </td>
 <td width=16% style="height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,989</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,876</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.9 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,684)</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,665)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(178)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(187)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (4)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,127</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,025</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10.0 </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=57% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(225)</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(241)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6.8) </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=57% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(36)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">919</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">748</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22.9 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(184)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(262)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(29.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">735</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">486</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51.3 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">735</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">486</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51.3 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">735</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">486</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51.3 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; Revised. See
&#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Presentation of Financial Information&#8212;Changes in Operating Segments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2) Comprises the following
income statement line items contained in the Consolidated Financial Statements:
&#8220;Gains (losses) on derecognition of financial assets and liabilities not
measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on
financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on
non-trading financial assets mandatorily at fair value through profit or loss,
net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at fair
value through profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221;
and &#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160; &#160;Not meaningful.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(4) &#8220;Net margin before provisions&#8221; is
calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and
amortization&#8221;.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">153</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_159"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the
year ended December 31, 2018 the U.S. dollar depreciated 4.3% against the euro
in average terms, resulting in a negative exchange rate effect on our
consolidated income statement for the year ended December 31, 2017 and in the
results of operations of the United States operating segment for such period
expressed in euros.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this operating segment for the year ended December
31, 2018 amounted to &#8364;2,276 million, a 7.4% increase compared with the &#8364;2,119
million recorded for the year ended December 31, 2017, due mainly to higher
interest rates (as a result of the Federal Reserve Board benchmark interest
rate increases) and to measures </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">adopted by
BBVA Compass to improve loan yields and contain the increase in the cost of
deposits (including an improved deposit mix and wholesale funding), partially
offset by the depreciation of the U.S. dollar against the euro and the higher
levels of interest on deposits and interest on FHLB and other borrowings. The
net interest margin over total average assets of this operating segment
amounted to 2.91% for the year ended December 31, 2018 compared with 2.68% for
the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this operating segment for the year ended
December 31, 2018 amounted to &#8364;596 million, a 7.5% decrease compared with the
&#8364;644 million recorded for the year ended December 31, 2017, mainly as a result
of the depreciation of the U.S. dollar against the euro and the decrease in
investment banking and advisory fees.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and exchange
differences of this operating segment for the year ended December 31, 2018 was
a net gain of &#8364;109 million, a 1.9% decrease compared with the &#8364;111 million gain
recorded for the year ended December 31, 2017, mainly as a result of the
depreciation of the U.S. dollar against the euro, which was partially offset by
trading gains from bonds and foreign exchange transactions.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating income of this operating segment for the year ended
December 31, 2018 was &#8364;9 million, compared with the &#8364;2 million net expense
recorded for the year ended December 31, 2017.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">154</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this
operating segment for the year ended December 31, 2018 amounted to &#8364;1,684
million, a 1.2% increase compared with the &#8364;1,665 million recorded for the year
ended December 31, 2017, mainly due to an increase in technology and systems
expense and advertising expense, partially offset by the depreciation of the
U.S. dollar against the euro.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of
impairment on financial assets not measured at fair value through profit or
loss or net gains by modification of this operating segment for the year ended
December 31, 2018 was a &#8364;225 million expense, a 6.8% decrease </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">compared</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> with the &#8364;241
million expense recorded for the year ended December 31, 2017, mainly as a
result of the lower allowances for loan losses in those portfolios affected by
the 2017 hurricanes and, to a lesser extent, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the
depreciation of the U.S. dollar against the euro</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/ (loss) before tax</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, operating profit before tax of this
operating segment for the year ended December 31, 2018 was &#8364;919 million, a
22.9% increase compared with the &#8364;748 million of operating profit recorded for
the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit
or loss from continuing operations</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit from continuing operations of this
operating segment for the year ended December 31, 2018 was &#8364;184 million, a
29.8% decrease compared with the &#8364;262 million expense recorded for the year
ended December 31, 2017. Tax expense amounted to 20.0% of operating profit
before tax for the year ended December 31, 2018, compared with 35.1% for the
year ended December 31, 2017, due to the reduction in the effective tax rate
following the tax reform approved in 2017.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, profit attributable to parent company of
this operating segment for the year ended December 31, 2018 amounted to &#8364;735
million, a 51.3% increase compared with the &#8364;486 million recorded for the year
ended December 31, 2017.</font></font><font style="border:none;">
&nbsp;</font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;">&nbsp;</h4>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">155</font></font></p>


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<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">MEXICO</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=57% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017 (1) </font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=57% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,568</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,476</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.7 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,205</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,219</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (2)</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">223</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">249</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=16% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(236)</font></font></p>
  </td>
 <td width=16% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(239)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">433</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">416</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,193</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,122</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.0 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,115)</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,195)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(253)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(256)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (3)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,825</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,671</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.3 </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=57% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,555)</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,651)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5.8) </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=57% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(35)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (4)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,294</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,984</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10.4 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(909)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(797)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,385</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,187</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9.0 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,385</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,187</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9.0 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (4)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,384</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,187</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9.0 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">(1)&#160;&#160; Revised. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">Presentation of
Financial Information&#8212;Changes in Operating Segments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">(2)&#160;&#160; Comprises
the following income statement line items contained in the Consolidated
Financial Statements: &#8220;Gains (losses) on derecognition of financial assets and
liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains
(losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses)
on non-trading financial assets mandatorily at fair value through profit or
loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at
fair value through profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting,
net&#8221; and &#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">(3) &#160;&#160;&#8220;Net
margin before provisions&#8221; is calculated as &#8220;Gross income&#8221; less &#8220;Administration
costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:normal;">(4)&#160;&#160; Not
meaningful.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">156</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_162"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the year ended December 31, 2018, the Mexican peso
depreciated 6.1% against the euro in average terms, resulting in a negative
exchange rate effect on our consolidated income statement for the year ended
December 31, 2018 and in the results of operations of the Mexico operating
segment for such period expressed in euros.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this operating segment for the year ended December
31, 2018 amounted to &#8364;5,568 million, a 1.7% increase compared with the &#8364;5,476
million recorded for the year ended December 31, 2017, and an 8.2% increase
excluding the negative exchange rate effect, which was mainly as a result of an
increase in the average volume of loans and advances to customers. The net
interest margin over total average assets of this operating segment amounted to
5.78% for 2018 (5.63% for 2017).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this operating segment for the year ended
December 31, 2018 amounted to &#8364;1,205 million, a 1.2% decrease compared with the
&#8364;1,219 million recorded for the year ended December 31, 2017, mainly as a
result of the depreciation of the Mexican peso against the euro. At a constant
exchange rate, there was a 5.1% increase mainly as a result of increased
activity in mutual funds, as well as a higher volume of transactions with
on-line banking and credit card customers.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets and liabilities and exchange differences of
this operating segment for the year ended December 31, 2018 were &#8364;223 million,
a 10.4% decrease compared with the &#8364;249 million gain recorded for the year
ended December 31, 2017, mainly as a result of the weaker performance of the
Global Markets unit during 2018.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net of this operating segment for the
year ended December 31, 2018 was a net expense of &#8364;236 million, a 1.3% decrease
compared with the &#8364;239 million net expense recorded for the year ended December
31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income and expense on insurance and reinsurance contracts</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net income on insurance and reinsurance contracts of this operating
segment for the year ended December 31, 2018 was &#8364;433 million, a 4.1% increase compared
with the &#8364;416 million net income recorded for the year ended December 31, 2017,
mainly as a result of the income derived from collective insurance policies.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this operating segment for the year ended December
31, 2018 were &#8364;2,115 million, a 3.7% decrease compared with the &#8364;2,195 million
recorded for the year ended December 31, 2017, mainly as a result of the
depreciation of the Mexican peso against the euro. At a constant exchange rate,
administration costs increased by 2.5%, which was below Mexico&#8217;s inflation rate
for the period.</font></font><font style="border:none;">
&nbsp;</font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">157</font></font></p>


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<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets not measured at
fair value through profit or loss or net gains by modification of this
operating segment for the year ended December 31, 2018 was a &#8364;1,555 million
expense, a 5.8% decrease compared with the &#8364;1,651 million expense recorded for
the year ended December 31, 2017. At a constant exchange rate, there was a 0.2%
increase in impairment losses on financial assets.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/ (loss) before tax</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, operating profit before tax of this
operating segment for the year ended December 31, 2018 was &#8364;3,294 million, a
10.4% increase compared with the &#8364;2,984 million of operating profit recorded
for the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit from continuing operations of this
operating segment for the year ended December 31, 2018 was &#8364;909 million, a
14.0% increase compared with the &#8364;797 million expense recorded for the year
ended December 31, 2017, mainly as a result of the higher operating profit
before tax. Consequently, the tax expense amounted to 27.6% of operating profit
before tax for the year ended December 31, 2018, and 26.7% for the year ended
December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
profit attributable to parent company of this operating segment for the year
ended December 31, 2018 amounted to &#8364;2,384 million, a 9.0% increase compared
with the &#8364;2,187 million recorded for the year ended December 31, 2017.</font></font><font style="border:none;">
&nbsp;</font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;">&nbsp;</h4>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">158</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_164"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">TURKEY</font></b></font></h4>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">From July 2015 to March 2017, we held 39.90% of Garanti&#8217;s
share capital and, on March 22, 2017, we completed the acquisition of an
additional 9.95% stake in Garanti, increasing our total holding of Garanti&#8217;s
share capital to 49.85%. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 4. Information on the Company&#8212;History and
Development of the Company&#8212;Capital expenditures&#8212;2017</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=57% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=57% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,135</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,331</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5.9) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">686</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">703</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (1)</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(24.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=16% style="height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23</font></font></p>
  </td>
 <td width=16% style="height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (2)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">46</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">62</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(25.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,901</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,115</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5.2) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,105)</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,325)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(16.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(138)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(178)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(22.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (3)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,658</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,612</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.8 </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=57% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,202)</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(453)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">165.3 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=57% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(8)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(33.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,448</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,147</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(32.5) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(294)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(426)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(31.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,154</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,720</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(32.9) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,154</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,720</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(32.9) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(585)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(895)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(34.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">569</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">826</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(31.0) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160; Comprises the
following income statement line items contained in the Consolidated Financial
Statements: &#8220;Gains (losses) on derecognition of financial assets and
liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses)
on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on
non-trading financial assets mandatorily at fair value through profit or loss,
net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at fair
value through profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221;
and &#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160;&#160; Not meaningful.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160; &#8220;Net margin before provisions&#8221; is calculated
as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and
amortization&#8221;.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">159</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_165"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;font-weight:normal;">The Turkish lira depreciated 27.8%
against the euro in average terms the year ended December 31, 2018, resulting
in a negative exchange rate effect on our consolidated income statement for the
year ended December 31, 2018 and in the results of operations of the Turkey
operating segment for such period expressed in euros.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this
operating segment for the year ended December 31, 2018 amounted to &#8364;3,135
million, a 5.9% decrease compared with the &#8364;3,331 million recorded for the year
ended December 31, 2017, mainly as a result of the depreciation of the Turkish
lira. At a constant exchange rate, there was a 30.3% increase in net interest
income, mainly as a result of higher income from inflation-linked bonds. The
net interest margin over total average assets of this operating segment
amounted to 4.36% for </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the year ended December
31, 2018 (4.05% for 2017).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this
operating segment for the year ended December 31, 2018 amounted to &#8364;686
million, a 2.4% decrease compared with the &#8364;703 million recorded for the year
ended December 31, 2017, mainly as a result of the depreciation of the Turkish
lira which more than offset the overall growth in net fees and commissions, on
a constant exchange rate basis, mainly related to payment systems, advances,
money transfers and other commissions.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets and liabilities and exchange
differences of this operating segment for the year ended December 31, 2018 were
&#8364;11 million, a 24.2% decrease compared with the &#8364;14 million gain recorded for
the year ended December 31, 2017, mainly as a result of the depreciation of the
Turkish lira against the euro, which offset the positive performance of </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">global markets</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, asset and
liabilities management and derivatives.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating income of
this operating segment for the year ended December 31, 2018 was &#8364;23 million,
compared with the &#8364;5 million of net expense recorded for the year ended
December 31, 2017, mainly as a result of the lower contribution to the Deposit
Guarantee Fund.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income and expense on insurance and reinsurance contracts</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net income on insurance and
reinsurance contracts of this operating segment for the year ended December 31,
2018 was &#8364;46 million, a 25.9% decrease compared with the &#8364;62 million income
recorded for the year ended December 31, 2017, mainly as a result of the
depreciation of the Turkish lira.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this
operating segment for the year ended December 31, 2018 amounted to &#8364;1,105
million, a 16.6% decrease compared with the &#8364;1,325 million recorded for the
year ended December 31, 2017, mainly as a result of the depreciation of the
Turkish lira. At a constant exchange rate, administration costs increased by
15.4%, mainly as a result of the 20.3% average inflation rate in 2018.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification
of this operating segment for the year ended December 31, 2018 was a &#8364;1,202
million expense, a 165.3% increase compared with the &#8364;453 million expense
recorded for the year ended December 31, 2017, mainly as a result of the
deterioration of the wholesale-customer portfolio and the adverse macroeconomic
scenario.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">160</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_166"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/(loss) before
tax</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
operating profit before tax of this operating segment for the year ended
December 31, 2018 was &#8364;1,448 million, a 32.5% decrease compared with the &#8364;2,147
million of operating profit recorded for the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit
from continuing operations of this operating segment for the year ended
December 31, 2018 was &#8364;294 million, a 31.0% decrease compared with the &#8364;426
million expense recorded for the year ended December 31, 2017. Consequently,
the effective tax rate amounted to 20.3% of operating profit before tax for the
year ended December 31, 2018, and 19.9% for the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to non-controlling interests</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to
non-controlling interests of this operating segment for the year ended December
31, 2018 amounted to &#8364;585 million, a 34.6% decrease compared with the &#8364;895
million recorded for the or the year ended December 31, 2017 mainly as a result
of the depreciation of the Turkish lira against the euro and our acquisition of
an additional 9.95% stake in Garanti on March 22, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, profit attributable to parent
company of this operating segment for the year ended December 31, 2018 amounted
to &#8364;569 million, a 31.0% decrease compared with the &#8364;826 million recorded for
the year ended December 31, 2017 mainly as a result of the depreciation of the
Turkish lira against the euro, offset in part by our acquisition of an
additional 9.95% stake in Garanti on March 22, 2017.
</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;">&nbsp;</h4>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">161</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_167"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">SOUTH AMERICA</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=57% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=57% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,009</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,200</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6.0) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">631</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">713</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (1)</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">405</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">480</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(15.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=16% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(454)</font></font></p>
  </td>
 <td width=16% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(113)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (2)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">110</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">172</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(36.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,701</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,451</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(16.9) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,565)</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,886)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(125)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(121)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (3)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,011</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,444</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17.7) </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=57% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(638)</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(650)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1.9) </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=57% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(65)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(103)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(36.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,307</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,691</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(22.7) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(475)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(486)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">833</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,205</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(30.9) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">833</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,205</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(30.9) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(241)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(345)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(30.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">591</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">861</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(31.3) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160; Comprises the
following income statement line items contained in the Consolidated Financial
Statements: &#8220;Gains (losses) on derecognition of financial assets and
liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains
(losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains
(losses) on non-trading financial assets mandatorily at fair value through
profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities
designated at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) from
hedge accounting, net&#8221; and &#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160;&#160; Not meaningful.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160; &#8220;Net margin before provisions&#8221; is calculated
as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:18.0pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the
year ended December 31, 2018, the Argentine peso depreciated 56.7% against the
euro in average terms, compared with the year ended December 31, 2017. In
addition, the Chilean peso, Colombian peso and Peruvian new sol also
depreciated in average terms against the euro compared with the year ended
December 31, 2017, by 3.2%, 4.3% and 5.1%, respectively. As a result, changes
in exchange rates resulted in a negative impact on the results of operations of
the South America operating segment for the year ended December 31, 2018&#160;
expressed in euros.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">At the year-end 2018, the Argentinian economy was
considered to be hyperinflationary as defined by IAS 29 (see Note 2.2.20 to our
Consolidated Financial Statements). The negative impact of accounting for
hyperinflation in Argentina in the net attributable profit of this operating
segment was &#8364;266 million.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, on July 6, 2018 we completed the sale of our
68.19% stake in BBVA Chile. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 4. Information on the Company&#8212;History
and Development of the Company&#8212;Capital Divestitures&#8212;2018&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></font><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">162</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_168"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this
operating segment for the year ended December 31, 2018 amounted to &#8364;3,009
million, a 6.0% decrease compared with the &#8364;3,200 million recorded for the year
ended December 31, 2017, mainly as a result of the depreciation of the
currencies of the region against the euro. At constant exchange rates, there
was a 12.8% increase mainly as a result of the growth in the average volume of
and in the yield on interest-earning assets, which more than offset the impact
of the sale of BBVA Chile. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The net interest
margin over total average assets of this operating segment amounted to 4.64%
for </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the year ended December 31, 2018 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(4.22% for 2017).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this
operating segment for the year ended December 31, 2018 amounted to &#8364;631
million, a 11.4% decrease compared with the &#8364;713 million recorded for the year
ended December 31, 2017, mainly as a result of the depreciation of the currencies
of the region against the euro. At a constant exchange rate, there was a 10.9%
increase mainly as a result of an increase in credit and debit card
commissions, which more than offset the impact of the sale of BBVA Chile.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets
and liabilities and exchange differences of this operating segment for the year
ended December 31, 2018 were &#8364;405 million, a 15.7% decrease compared with the
&#8364;480 million gain recorded for the year ended December 31, 2017, mainly as a
result of the depreciation of the currencies of the region against the euro. At
a constant exchange rate, there was a 5.2% increase mainly as a result of
foreign-currency operations.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating expense of
this operating segment for the year ended December 31, 2018 was &#8364;454 million,
compared with the &#8364;113 million expense recorded for the year ended December 31,
2017, mainly as a result of the recording of the adjustment for hyperinflation
in Argentina.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income and expense on insurance and reinsurance contracts</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net income on insurance and
reinsurance contracts of this operating segment for the year ended December 31,
2018 was &#8364;110 million, a 36.0% decrease compared with the &#8364;172 million net income
recorded for the year ended December 31, 2017, mainly as a result of the
depreciation of the currencies of the region against the euro. At constant
exchange rates, there was a 5.4% decrease mainly as a result of the sale of the
insurance business in Chile.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this
operating segment for the year ended December 31, 2018 amounted to &#8364;1,565
million, a 17.1% decrease compared with the &#8364;1,886 million recorded for the
year ended December 31, 2017, mainly as a result of the depreciation of the
currencies of the region against the euro. At constant exchange rates, there
was a 6.6% increase mainly as a result of the high inflation registered in some
countries of the region, which more than offset the impact of the sale of BBVA
Chile.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Depreciation</font></i></b></font><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and
amortization</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Depreciation and amortization
for the year ended December 31, 2018 was &#8364;125 million, a 3.2% increase compared
</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">with</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> the &#8364;121
million recorded for the year ended December 31, 2017 mainly as a result of
higher expense related to software in Peru.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of
impairment on financial assets not measured at fair value through profit or
loss or net gains by modification of this operating segment for the year ended
December 31, 2018 was a &#8364;638 million expense, a 1.9% decrease compared with the
&#8364;650 million expense recorded for the year ended December 31, 2017, mainly as a
result of the depreciation of currencies in the region against the euro, which
more than offset </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the increase in impaired assets due
to the increase in the size of the loan portfolio and the deterioration in
credit quality</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of
provisions</font></i></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;font-weight:normal;">
&nbsp;</font></font><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and other results</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of
provisions and other results of this operating segment for the year ended
December 31, 2018 were a &#8364;65 million expense, a 36.3% decrease compared with
the &#8364;103 million expense recorded for the year ended December 31, 2017, mainly
as a result of the depreciation of currencies in the region against the
euro.&#160;&#160;&#160;&#160;&#160;&#160; </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/ (loss) before tax</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
operating profit before tax of this operating segment for the year ended
December 31, 2018 was &#8364;1,307 million, a 22.7% decrease compared with the &#8364;1,691
million of operating profit recorded for the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit
from continuing operations of this operating segment for the year ended
December 31, 2018 was &#8364;475 million, a 2.2% decrease compared with the &#8364;486
million expense recorded for the year ended December 31, 2017, mainly as a
result of the lower operating profit before tax. Consequently, the effective
tax rate amounted to 36.3% of operating profit before tax for the year ended
December 31, 2018, and 28.7% for the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to non-controlling interests</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to
non-controlling interests of this operating segment for the year ended December
31, 2018 amounted to &#8364;241 million, a 30.1% decrease compared with the &#8364;345
million recorded for the year ended December 31, 2017, mainly as a result of the
depreciation of currencies in the region against the euro and the sale of BBVA
Chile (which had minority interests), offset in part by the impact of
accounting for hyperinflation in Argentina.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
profit attributable to parent company of this operating segment for the year
ended December 31, 2018 amounted to &#8364;591 million, a 31.1% decrease compared
with the &#8364;861 million recorded for the year ended December 31, 2017 affected by
the accounting of hyperinflation in Argentina (which detracted &#8364;266 million
from profit attributable to parent company), the depreciation of currencies in
the region against the euro and the sale of BBVA Chile.
</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;">&nbsp;</h4>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">164</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">REST OF EURASIA</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=57% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=57% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">175</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">180</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.5) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">138</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">164</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(15.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (1)</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">101</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">123</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=16% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (2)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">415</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">468</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11.4) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(285)</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(297)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(44.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (3)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">124</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">160</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(22.5) </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=57% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.0 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=57% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(40.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">144</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">177</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(18.5) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(51)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(52)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">93</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">125</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(25.2) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">93</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">125</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(25.2) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">93</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">125</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(25.2) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1) &#160;&#160;Comprises
the following income statement line items contained in the Consolidated
Financial Statements: &#8220;Gains (losses) on derecognition of financial assets and
liabilities not measured at fair value through profit or loss, net&#8221;, &#8220;Gains
(losses) on financial assets and liabilities held for trading, net&#8221;, &#8220;Gains
(losses) on non-trading financial assets mandatorily at fair value through
profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and liabilities
designated at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) from
hedge accounting, net&#8221; and &#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160;&#160; Not meaningful.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3) &#8220;Net margin before provisions&#8221; is
calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and
amortization&#8221;.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">165</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_171"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this
operating segment for the year ended December 31, 2018 amounted to &#8364;175
million, a 2.5% decrease compared with the &#8364;180 million recorded for the year
ended December 31, 2017, mainly as a result of a weaker performance of the Global
Finance unit in Asia, particularly Corporate and Investment Banking (C&amp;IB),
partially offset by the performance of the Global Trade unit in Asia.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this
operating segment for the year ended December 31, 2018 amounted to &#8364;138
million, a 15.9% decrease compared with the &#8364;164 million recorded for the year
ended December 31, 2017, mainly as a result of lower commissions in the branch
network in Europe.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets
and liabilities and exchange differences of this operating segment for the year
ended December 31, 2018 were &#8364;101 million, a 17.3% decrease compared with the
&#8364;123 million net gain recorded for the year ended December 31, 2017, mainly as
a result of the weaker performance of the Global Markets unit in Europe.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this
operating segment for the year ended December 31, 2018 amounted to &#8364;285
million, a 4.1% decrease compared with the &#8364;297 million recorded for the year
ended December 31, 2017, mainly as a result of the expense reduction efforts in
the Corporate and Investment Banking (C&amp;IB) unit and the Global Markets
unit in Europe.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of
impairment on financial assets not measured at fair value through profit or
loss or net gains by modification of this operating segment for the year ended
December 31, 2018 amounted to income of &#8364;24 million, a 4.0% increase compared
with the &#8364;23 million income recorded for the year ended December 31, 2017,
mainly as a result of the lower loan loss provisions in Europe.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/(loss) before tax</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
operating profit before tax of this operating segment for the year ended
December 31, 2018 was &#8364;144 million, an 18.5% decrease compared with the &#8364;177
million of operating profit recorded for the year ended December 31, 2017</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit
from continuing operations of this operating segment for the year ended
December 31, 2018 was &#8364;51 million, a 2.6% decrease compared with the &#8364;52
million expense recorded for the year ended December 31, 2017. Consequently,
the effective tax rate amounted to 35.2% of operating profit before tax for the
year ended December 31, 2018, and 29.5% for the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
profit attributable to parent company of this operating segment for the year
ended December 31, 2018 amounted to &#8364;93 million, a 25.2% decrease compared with
the &#8364;125 million recorded for the year ended December 31, 2017.
</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;">&nbsp;</h4>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">166</font></font></p>


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<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">CORPORATE CENTER</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=59% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=30% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017 (1) </font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=59% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=30% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(276)</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(357)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(22.8) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=15% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(59)</font></font></p>
  </td>
 <td width=15% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(86)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(32.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (2)</font></font></p>
  </td>
 <td width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(155)</font></font></p>
  </td>
 <td width=15% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">436</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=59% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=15% style="height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">76</font></font></p>
  </td>
 <td width=15% style="height:12.75pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">99</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(23.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=59% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(19)</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(19)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(432)</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">73</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (3)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td width=15% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(706)</font></font></p>
  </td>
 <td width=15% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(592)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(214)</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(297)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(27.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (4)</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,352)</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(815)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">65.9 </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=59% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by modification</font></font></p>
  </td>
 <td width=15% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2)</font></font></p>
  </td>
 <td width=15% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,125)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(99.8) </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=59% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(65)</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(73)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,420)</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,013)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(29.5) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">290</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">166</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">75.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations excluding
  corporate operations</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,130)</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,847)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(38.8) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net </font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">633</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(497)</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,847)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(73.1) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3</font></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=59% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(494)</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,848)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(73.3) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; Revised. See
&#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Presentation of Financial Information&#8212;Changes in Operating Segments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160; Comprises the following
income statement line items contained in the Consolidated Financial Statements:
&#8220;Gains (losses) on derecognition of financial assets and liabilities not
measured at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on
financial assets and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on
non-trading financial assets mandatorily at fair value through profit or loss,
net&#8221;, &#8220;Gains (losses) on financial assets and liabilities designated at fair
value through profit or loss, net&#8221;, &#8220;Gains (losses) from hedge accounting, net&#8221;
and &#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160;&#160; Not meaningful.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(4)&#160; &#8220;Net margin before provisions&#8221; is
calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and
amortization&#8221;.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">167</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_173"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income /
(expense)</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest expense of this
operating segment for the year ended December 31, 2018 was &#8364;276 million, a
22.8% decrease compared with the &#8364;357 million net expense recorded for the year
ended December 31, 2017, mainly as a result of the lower cost of funding and the
evolution of interest rates.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this
operating segment for the year ended December 31, 2018 was an expense of &#8364;59
million, a 32.1% decrease compared with an expense of &#8364;86 million expense
recorded for the year ended December 31, 2017, mainly as a result of the lower
commissions paid in 2018 for cross-selling agreements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net losses on financial assets
and liabilities and exchange differences of this operating segment for the year
ended December 31, 2018 were &#8364;155 million, compared with the &#8364;436 million gain
recorded for the year ended December 31, 2017, which was principally due to the
sale of a 2.14% stake in CNCB in 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this
operating segment for the year ended December 31, 2018 amounted to &#8364;706
million, a 19.3% increase compared with the &#8364;592 million recorded for the year
ended December 31, 2017, mainly as a result of an increase in IT for the
development of new capabilities, cybersecurity and process reengineering.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of
impairment on financial assets not measured at fair value through profit or
loss or net gains by modification of this operating segment for the year ended
December 31, 2018 amounted to a &#8364;2 million expense, a 99.8% decrease compared
with the &#8364;1,125 million expense recorded for the year ended December 31, 2017,
which related mainly to the recognition of impairment losses of &#8364;1,123 million
in connection with BBVA&#8217;s stake in Telef&#243;nica, S.A. in such year.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of provisions and other results</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of
provisions and other results of this operating segment for the year ended
December 31, 2018 were a &#8364;65 million expense, a 10.8% decrease compared with
the &#8364;73 million expense recorded for the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/ (loss) before tax</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
operating loss before tax of this operating segment for the year ended December
31, 2018 was &#8364;1,420 million, a 29.5% decrease compared with the &#8364;2,013 million
loss recorded for the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax income related to loss from
continuing operations of this operating segment for the year ended December 31,
2018 amounted to &#8364;290 million, compared with the &#8364;166 million income recorded
for the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
profit attributable to parent company of this operating segment for the year
ended December 31, 2018 was a loss of &#8364;494 million, compared with the &#8364;1,848
million loss recorded for the year ended December 31, 2017, mainly as a result
of capital gains (net of taxes) originated by the sale of BBVA Chile, which
amounted to &#8364;633 million.</font></font></p>



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<h3 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;">&nbsp;</h3>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">168</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_174"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h3 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">Results of
Operations by Operating Segment for 2017 Compared with 2016</font></b></font></h3>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">BANKING ACTIVITY
IN SPAIN</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=54% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=35% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31, </font></b></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=54% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017 (1)</font></u></b></font></p>
  </td>
 <td width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=54% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=35% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,738 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,877 </font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3.6)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,561 </font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,477 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.7 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (2)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">555 </font></font></p>
  </td>
 <td nowrap width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">786 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(29.4)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=54% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(106)</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(123)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(13.3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=54% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">433 </font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">400 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,180 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,416 </font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3.7)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3,071)</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3,252)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(5.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(319)</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(327)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (3)</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,790 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,837 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1.7) </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=54% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:24.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(567)</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:24.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(763)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(25.7) </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=54% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(369)</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(807)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(54.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,854 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,268 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">46.3 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(477)</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(360)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">32.5 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=54% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,377 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">908 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51.7 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 47.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,377 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">908 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51.7 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:double black 2.25pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,374 </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:double black 2.25pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">905 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">51.9 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(1)&#160;&#160; Revised. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">Presentation of Financial
Information&#8212;Changes in Operating Segments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(2)&#160;&#160; Comprises the following income
statement line items contained in the Consolidated Financial Statements: &#8220;Gains
(losses) on derecognition of financial assets and liabilities not measured at
fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets
and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading
financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains
(losses) on financial assets and liabilities designated at fair value through
profit or loss, net&#8221;,&#160; &#8220;Gains (losses) from hedge accounting, net&#8221; and
&#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(3)&#160;&#160; &#8220;Net margin before provisions&#8221; is calculated as &#8220;Gross
income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this
operating segment for the year ended December 31, 2017 amounted to &#8364;3,738
million, a 3.6% decrease compared with the &#8364;3,877 million recorded for the year
ended December 31, 2016, mainly as a result of a decrease in the average volume
of interest-earning assets, particularly in the securities portfolio and
derivatives as a result of the sale of certain wholesales portfolios and, to a
lesser extent, lower average loans and advances to customers, partially offset
by the lower funding cost of interest-bearing liabilities. The net interest
margin over this operating segment&#8217;s total average assets amounted to 1.18% for
the year ended December 31, 2017 compared with 1.15% for the year ended
December 31, 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this
operating segment for the year ended December 31, 2017 amounted to &#8364;1,561
million, a 5.7% increase compared with the &#8364;1,477 million recorded for the year
ended December 31, 2016, mainly as a result of an increase in securities fees
due to increased activity in our wholesale businesses and growth in mutual
funds driven primarily by higher share prices.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">169</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on
financial assets and liabilities and exchange differences, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets
and liabilities and exchange differences of this operating segment for the year
ended December 31, 2017 was a net gain of &#8364;555 million, a 29.4% decrease
compared with the &#8364;786 million recorded for the year ended December 31, 2016,
mainly as a result of lower sales of ALCO (Assets and Liabilities Committee)
portfolios. The gain in the prior period was also partially due to the gains
from the sale of our stake in VISA Europe, Ltd. recorded in the second quarter
of 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating expense of
this operating segment for the year ended December 31, 2017 were &#8364;106 million,
a 13.3% decrease compared with the &#8364;123 million of net expense recorded for the
year ended December 31, 2016, mainly as a result of a reduced annual contribution
to the Single Resolution Fund and increased income from insurance activities.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income and expense on insurance and reinsurance contracts</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net income on insurance and
reinsurance contracts of this operating segment for the year ended December 31,
2017 was &#8364;433 million, an 8.3% increase compared with the &#8364;400 million net
income recorded for the year ended December 31, 2016, mainly as a result of the
lower claims ratio and new contract origination.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this
operating segment for the year ended December 31, 2017 amounted to an expense
of &#8364;3,071 million, a 5.6% decrease compared with the &#8364;3,252 million recorded
for the year ended December 31, 2016, mainly as a result of a &#8364;66 million
decrease in wages and salaries, a &#8364;38 million decrease in rent expense due to a
reduction in the number of branches, a &#8364;20 million decrease in IT expense and a
&#8364;23 million decrease in third-party services expense. Administration costs
decreased for the six consecutive quarters ended December 31, 2017 due to the
synergies related to the integration of Catalunya Bank and the implementation
of efficiency plans.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of
impairment on financial assets not measured at fair value through profit or
loss or net gains by modification</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> of this
operating segment for the year ended December 31, 2017 amounted to a &#8364;567
million expense, a 25.7% decrease compared with the &#8364;763 million expense
recorded for the year ended December 31, 2016, mainly as a result of decreased
impaired assets due to the improvement of credit quality, partially offset by
the increase in the size of the loan portfolio by year-end. The non-performing
asset ratio of this operating segment as of December 31, 2017 was 5.2% compared
with 5.8% as of December 31, 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of provisions and other results</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of
provisions and other results of this operating segment for the year ended
December 31, 2017 were a &#8364;369 million expense, a 54.3% decrease compared with
the &#8364;807 million expense recorded for the year ended December 31, 2016.
Provisions recorded in 2016 were adversely affected by provisioning related to
the invalidity of clauses limiting interest rates in certain mortgage loans
with customers (referred to as &#8220;floor&#8221; clauses).&#160; BBVA made additional
provisions during 2017 to cover possible contingencies and claims in connection
with this matter in amounts that BBVA considers not significant.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/ (loss) before tax</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
operating profit before tax of this operating segment for the year ended
December 31, 2017 was &#8364;1,854 million, a 46.3% increase compared with the &#8364;1,268
million recorded for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit from continuing operations of
this operating segment for the year ended December 31, 2017 was an expense of
&#8364;477 million, a 32.5% increase compared with the &#8364;360 million expense recorded
for the year ended December 31, 2016 mainly as a result of the higher operating
profit before tax. The tax expense amounted to 25.8% of operating profit before
tax for the year ended December 31, 2017, and 28.4% for the year ended December
31, 2016.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">170</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to
parent company</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, profit attributable to parent
company of this operating segment for the year ended December 31, 2017 amounted
to &#8364;1,374 million, a 51.9% increase compared with the &#8364;905 million recorded for
the year ended December 31, 2016.</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">NON-CORE REAL ESTATE</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=54% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=34% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=54% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017 (1)</font></u></b></font></p>
  </td>
 <td width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=54% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">71 </font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">60 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19.5 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(50.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (2)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3)</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(100.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(91)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(68)</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33.2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17)</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">160.2 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(81)</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(96)</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(16.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(18)</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(27)</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(33.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (3)</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(116)</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(130)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11.2) </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=54% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(138)</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(138)</font></font></p>
  </td>
 <td nowrap width=12% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.4 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=54% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(403)</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(475)</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(15.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(657)</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(743)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11.6) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">166 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">148 </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(491)</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(595)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17.5) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(491)</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(595)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17.5) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1 </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (4)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=54% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(490)</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(595)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17.7) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(1)&#160;&#160; Revised. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">Presentation of Financial
Information&#8212;Changes in Operating Segments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(2)&#160;&#160; Comprises the following income
statement line items contained in the Consolidated Financial Statements: &#8220;Gains
(losses) on derecognition of financial assets and liabilities not measured at
fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets
and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading
financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains
(losses) on financial assets and liabilities designated at fair value through
profit or loss, net&#8221;,&#160; &#8220;Gains (losses) from hedge accounting, net&#8221; and
&#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(3)&#160;&#160; &#8220;Net margin before provisions&#8221; is
calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and
amortization&#8221;.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(4)&#160;&#160; Not meaningful.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this operating segment for the year
ended December 31, 2017 amounted to &#8364;71 million, a 19.5% increase compared with
the &#8364;60 million recorded for the year ended December 31, 2016, mainly as a
result of higher interest income from construction sector loans.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this operating segment for the year ended
December 31, 2017 amounted to &#8364;3 million, a 50.7% decrease compared with the &#8364;6
million recorded for the year ended December 31, 2016, mainly as a result of a
decrease in insurance product commissions.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">171</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income
and expense, net</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating expense of this operating segment for the year ended
December 31, 2017 were &#8364;91 million, compared with the &#8364;68 million of net
expense recorded for the year ended December 31, 2016, mainly as a result of a
&#8364;32 million decrease in income from non-financial services.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this operating segment for the year ended
December 31, 2017 amounted to &#8364;81 million, a 16.4% decrease compared with the
&#8364;96 million recorded for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets not measured at
fair value through profit or loss or net gains by modification</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> of this operating segment for the year ended December 31,
2017 amounted to an expense of &#8364;138 million, a 0.4% increase compared with the
&#8364;138 million expense recorded for the year ended December 31, 2016. The
non-performing asset ratio of this operating segment as of December 31, 2017
was 52.8% compared with 56.1% as of December 31, 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of provisions and other results</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of provisions and other results of this operating
segment for the year ended December 31, 2017 were a &#8364;403 million expense, a
15.2% decrease compared with the &#8364;475 million expense recorded for the year
ended December 31, 2016, mainly as a result of portfolio sales.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/ (loss) before tax</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, operating loss before tax of this operating
segment for the year ended December 31, 2017 was &#8364;657 million, an 11.6%
decrease compared with the &#8364;743 million loss recorded for the year ended
December 31, 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax income related to loss from continuing operations of this operating
segment for the year ended December 31, 2017 amounted to &#8364;166 million, a 12.1%
increase compared with the &#8364;148 million gain recorded for the year ended
December 31, 2016. Consequently, tax income amounted to 25.3% of the operating
loss before tax for the year ended December 31, 2017, and 19.9% for the year
ended December 31, 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, profit attributable to parent company of
this operating segment for the year ended December 31, 2017 was a loss of &#8364;490
million, a 17.7% decrease compared with the &#8364;595 million loss recorded for the
year ended December 31, 2016.
</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;">&nbsp;</h4>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">172</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">UNITED STATES</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=57% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017 (1)</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=57% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,119</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,953</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8.5 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">644</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">638</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (2)</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">111</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">142</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(22.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(27)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,876</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,706</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.3 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,665)</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,652)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.7 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(187)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(190)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (4)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,025</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">863</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18.8 </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=57% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(241)</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(221)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9.0 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=57% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(36)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(30)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">21.4 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">748</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">612</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22.2 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(262)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(153)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">71.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">486</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">459</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.9 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">486</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">459</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.9 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">486</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">459</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.9 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(1)&#160;&#160; Revised. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">Presentation of Financial Information&#8212;Changes
in Operating Segments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(2)&#160;&#160; Comprises the following income
statement line items contained in the Consolidated Financial Statements: &#8220;Gains
(losses) on derecognition of financial assets and liabilities not measured at
fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets
and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading
financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains
(losses) on financial assets and liabilities designated at fair value through
profit or loss, net&#8221;,&#160; &#8220;Gains (losses) from hedge accounting, net&#8221; and
&#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(3)&#160;&#160; Not meaningful.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(4)&#160;&#160; &#8220;Net margin before provisions&#8221; is calculated as &#8220;Gross
income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">173</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In 2017 the U.S. dollar
depreciated 2.0% against the euro in average terms, resulting in a negative
exchange rate effect on our consolidated income statement and in the results of
operations of the United States operating segment for the year ended December
31, 2017 expressed in euros. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8213;Factors Affecting the Comparability
of our Results of Operations and Financial Condition&#8213;Trends in Exchange
Rates</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this operating segment for the year ended December
31, 2017 amounted to &#8364;2,119 million, an 8.5% increase compared with the &#8364;1,953
million recorded for the year ended December 31, 2016, mainly as a result of
higher interest rates (including as a result of the impact of the Federal
Reserve Board benchmark interest rate increases), particularly related to loans
and advances to customers, and, to a lesser extent, securities portfolio and
derivatives, partially offset by the effect of higher interests on deposits,
particularly from Federal Home Loan Banks. The net interest margin over total
average assets of this operating segment amounted to 2.68% for <a name="_cp_text_1_2274"></a>the year ended December 31, 2017 compared with 2.26%
for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this operating segment for the year ended
December 31, 2017 amounted to &#8364;644 million, a 1.1% increase compared with the
&#8364;638 million recorded for the year ended December 31, 2016, mainly as a result
of an&#160; increase in commissions, particularly in credit and debit card
commissions.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets and liabilities and exchange differences of
this operating segment for the year ended December 31, 2017 amounted to &#8364;111
million, a 22.2% decrease compared with the &#8364;142 million gain recorded for the
year ended December 31, 2016, mainly as a result of lower sales of ALCO (Assets
and Liabilities Committee) securities and mortgage portfolios.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating income of this operating segment for the year ended
December 31, 2017 was &#8364;2 million, compared with the &#8364;27 million of net expense
recorded for the year ended December 31, 2016, mainly as a result of the lower
contribution made to the Deposit Guarantee Fund.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">174</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this operating segment for the year ended
December 31, 2017 amounted to &#8364;1,665 million, a 0.7% increase compared with the
&#8364;1,652 million recorded for the year ended December 31, 2016, mainly as a
result of increases in general and administrative expense, particularly IT,
consulting and marketing expense, and, to a lesser extent, an increase in
personnel expense.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets not measured at
fair value through profit or loss or net gains by modification</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160; of this operating segment for the year ended December 31,
2017 was a &#8364;241 million expense, an 9.0% increase compared with the &#8364;221
million expense recorded for the year ended December 31, 2016, mainly as a
result of the impact of additional allowances for loan losses related to the
impact of hurricanes Harvey and Irma, and higher loan-loss provisioning related
to consumer portfolios, partially offset by decreased impaired assets due to an
improvement in the credit quality indicators of energy loans during 2017. The
non-performing asset ratio of this operating segment as of December 31, 2017
was 1.2%, compared with 1.5% as of December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/ (loss) before tax</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, operating profit before tax of this
operating segment for the year ended December 31, 2017 was &#8364;748 million, a
22.2% increase compared with the &#8364;612 million of operating profit recorded for
the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit
or loss from continuing operations</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit from continuing operations of this
operating segment for the year ended December 31, 2017 was &#8364;262 million, a
71.3% increase compared with the &#8364;153 million expense recorded for the year
ended December 31, 2016, mainly as a result of the higher operating profit
before tax and the impact of the remeasurement of deferred tax assets and
liabilities due to the impact of the Tax Cuts and Jobs Act signed into law on
December 22, 2017 (pursuant to which the corporate tax rate was also reduced).
Consequently, tax expense amounted to 34.9% of operating profit before tax for
the year ended December 31, 2017, compared with 25.0% for the year ended
December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, profit attributable to parent company of
this operating segment for the year ended December 31, 2017 amounted to &#8364;486
million, a 5.9% increase compared with the &#8364;459 million recorded for the year
ended December 31, 2016.
</font></font></p>

<h4 style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;">&nbsp;</h4>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">175</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h4 style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">MEXICO</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=57% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017 (1)</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=57% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,476</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,126</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.8 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,219</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,149</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (2)</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">249</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">222</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(239)</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(237)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">416</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">507</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,122</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,766</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.3 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,195)</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,149)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(256)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(247)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.8 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (3)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,671</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,371</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6.9 </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=57% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,651)</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,626)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1.6 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=57% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(35)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(67)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(47.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,984</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,678</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11.4 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(797)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(697)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14.4 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,187</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,981</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10.4 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,187</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,981</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10.4 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(100.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,187</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,980</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10.5 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(1)&#160;&#160; Revised. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">Presentation of Financial
Information&#8212;Changes in Operating Segments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(2)&#160;&#160; Comprises the following income
statement line items contained in the Consolidated Financial Statements: &#8220;Gains
(losses) on derecognition of financial assets and liabilities not measured at
fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets
and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading
financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains
(losses) on financial assets and liabilities designated at fair value through
profit or loss, net&#8221;,&#160; &#8220;Gains (losses) from hedge accounting, net&#8221; and
&#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(3)&#160;&#160; &#8220;Net margin before
provisions&#8221; is calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and
&#8220;Depreciation and amortization&#8221;.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">176</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In 2017, the Mexican peso depreciated 3.1% against the euro
in average terms, resulting in a negative exchange rate effect on our
consolidated income statement </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and in the
results of operations of the Mexico operating segment for </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the year ended </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">December
31, 2017 expressed in euros. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8213;Factors
Affecting the Comparability of our Results of Operations and Financial
Condition&#8213;Trends in Exchange Rates&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this operating segment for the year ended December
31, 2017 amounted to &#8364;5,476 million, a 6.8% increase compared with the &#8364;5,126
million recorded for the year ended December 31, 2016, and a 9.5% increase
excluding the negative exchange rate effect. The increase was mainly the result
of higher interest rates, particularly due to the effect of higher interest
rates on the securities portfolio and loans and advances to customers, and to a
lesser extent, an increase in the average volume of loans and advances to
customers. Net interest margin over total average assets of this operating
segment amounted to 5.63% for the year ended December 31, 2017 compared with
5.47% for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this operating segment for the year ended
December 31, 2017 amounted to &#8364;1,219 million, a 6.1% increase compared with the
&#8364;1,149 million recorded for the year ended December 31, 2016, mainly as a
result of an overall increase in commissions, particularly in credit and debit
card commissions and fees from online and investment banking, partially offset
by a decrease in commissions for selling insurance and the impact of the
depreciation of the Mexican peso against the euro.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets and liabilities and exchange differences of
this operating segment for the year ended December 31, 2017 were &#8364;249 million,
a 12.3% increase compared with the &#8364;222 million gain recorded for the year
ended December 31, 2016, mainly as a result of portfolio sales. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating income and expense of this operating segment for the
year ended December 31, 2017 amounted to a net expense of &#8364;239 million,
compared with the &#8364;237 million of net expense recorded for the year ended
December 31, 2016.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">177</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income and expense on
insurance and reinsurance contracts</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net income on insurance and reinsurance contracts of this operating
segment for the year ended December 31, 2017 was &#8364;416 million, a 17.8% decrease
compared with the &#8364;507 million net income recorded for the year ended December
31, 2016, mainly as a result of the higher rate of claims brought by customers
(particularly in the last quarter of 2017) as a result of the impact of natural
disasters that took place during 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this operating segment for the year ended
December 31, 2017 were &#8364;2,195 million, a 2.2% increase compared with the &#8364;2,149
million recorded for the year ended December 31, 2016, mainly as a result of an
increase in general and administrative expense, particularly IT expense, and,
to a lesser extent, an increase in personnel expense. The increase was below
Mexico&#8217;s inflation rate for 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets not measured at
fair value through profit or loss or net gains by modification</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> of this operating segment for the year ended December 31,
2017 was a &#8364;1,651 million expense, a 1.6% increase compared with the &#8364;1,626
million expense recorded for the year ended December 31, 2016. Excluding the
impact of the depreciation of the Mexican peso, the increase in impairment
losses on financial assets (4.9%) was in line with the increase recorded in
loans and advances to customers (5.3%). The non-performing asset ratio of this
operating segment was 2.3% for both years ended December 31, 2017 and 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/ (loss) before tax</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, operating profit before tax of this
operating segment for the year ended December 31, 2017 was &#8364;2,984 million, an
11.4% increase compared with the &#8364;2,678 million of operating profit recorded
for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit from continuing operations of this
operating segment for the year ended December 31, 2017 was &#8364;797 million, a
14.4% increase compared with the &#8364;697 million expense recorded for the year
ended December 31, 2016, mainly as a result of higher operating profit before
tax. Consequently, tax expense amounted to 26.7% of operating profit before tax
for the year ended December 31, 2017, and 26.0% for the year ended December 31,
2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, profit attributable to parent company of
this operating segment for the year ended December 31, 2017 amounted to &#8364;2,187
million, a 10.5% increase compared with the &#8364;1,980 million recorded for the
year ended December 31, 2016.
</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;">&nbsp;</h4>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">178</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">TURKEY</font></b></font></h4>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="background:white;border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Since
July 2015 we have fully consolidated Garanti&#8217;s results in our consolidated
financial statements. From July 2015 to March 2017, we held 39.90% of Garanti&#8217;s
share capital and, on March 22, 2017, we completed the acquisition of an
additional 9.95% stake in </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Garanti, increasing
our total holding of Garanti&#8217;s share capital to 49.85%. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 4.
Information on the Company&#8212;History and Development of the Company&#8212;Capital Expenditures&#8212;2017</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=57% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=57% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,331</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,404</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.1) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">703</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">731</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (1)</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">77</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(81.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(18)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (2)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">62</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">64</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,115</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,257</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3.3) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,325)</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,524)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(13.1) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(178)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(214)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(16.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (3)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,612</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,519</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.7 </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=57% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(453)</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(520)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(13.0) </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=57% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(93)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(87.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,147</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,906</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12.7 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(426)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(390)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9.2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,720</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,515</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13.5 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,720</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,515</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13.5 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(895)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(917)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">826</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">599</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">37.9 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(1)&#160;&#160; Comprises the following income statement line items
contained in the Consolidated Financial Statements: &#8220;Gains (losses) on
derecognition of financial assets and liabilities not measured at fair value
through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and
liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading financial assets
mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on
financial assets and liabilities designated at fair value through profit or
loss, net&#8221;,&#160; &#8220;Gains (losses) from hedge accounting, net&#8221; and &#8220;Exchange
differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(2)&#160;&#160; Not meaningful.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(3)&#160;&#160; &#8220;Net margin before
provisions&#8221; is calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and
&#8220;Depreciation and amortization&#8221;.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">179</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;font-weight:normal;">The Turkish lira depreciated 18.9%
against the euro in average terms during 2017, resulting in a negative exchange
rate effect on our consolidated income statement for the year ended December
31, 2017 and in the results of operations of the Turkey operating segment for
such year expressed in euros. See &#8220;&#8213;</font></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">Factors Affecting the Comparability of our Results of
Operations and Financial Condition&#8213;Trends in Exchange Rates</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-style:normal;font-weight:normal;">&#8221;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this
operating segment for the year ended December 31, 2017 amounted to &#8364;3,331
million, a 2.1% decrease compared with the &#8364;3,404 million recorded for the year
ended December 31, 2016, mainly as a result of the depreciation of the Turkish
lira. Excluding this impact, there was a 20.6% increase in net interest income,
mainly as a result of higher interest rates, particularly in loans and advances
to customers and inflation-linked bonds, and the growth in activity,
particularly in cash and cash balances with central banks, in line with the
growth of the Turkish financial sector. The net interest margin over total
average assets of this operating segment amounted to 4.05% for the year ended
December 31, 2017 compared to 3.81% for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this
operating segment for the year ended December 31, 2017 amounted to &#8364;703
million, a 3.9% decrease compared with the &#8364;731 million recorded for the year
ended December 31, 2016, mainly as a result of the depreciation of the Turkish
lira. Excluding this impact, there was an 18.5% increase in net fees and
commissions, mainly as a result of an increase in credit and debit card
commissions, which amounted to &#8364;51 million, and, to a lesser extent, due to an
increase in checks and bills receivables commissions, which increased by &#8364;32
million.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets
and liabilities and exchange differences of this operating segment for the year
ended December 31, 2017 were &#8364;14 million, an 81.2% decrease compared with the
&#8364;77 million gain recorded for the year ended December 31, 2016. The gain in
2016 was partially due to the sale of Garanti&#8217;s stake in VISA Europe, Ltd.
recorded in the second quarter of 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating income of
this operating segment for the year ended December 31, 2017 was &#8364;5 million,
compared with the &#8364;18 million of net expense recorded for the year ended
December 31, 2016, mainly as a result of a &#8364;13 million increase in financial
income from real estate-related services.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income and expense on insurance and reinsurance contracts</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net income on insurance and
reinsurance contracts of this operating segment for the year ended December 31,
2017 was &#8364;62 million, a 2.6% decrease compared with the &#8364;64 million in net
income recorded for the year ended December 31, 2016, mainly as a result of the
depreciation of the Turkish lira.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">180</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this
operating segment for the year ended December 31, 2017 amounted to &#8364;1,325
million, a 13.1% decrease compared with the &#8364;1,524 million recorded for the
year ended December 31, 2016, mainly as a result of the depreciation of the
Turkish lira. Excluding this impact, administration costs increased by 7.2%, mainly
as a result of the 11.9% inflation rate, which led to a &#8364;78 million increase in
personnel expense and an &#8364;11 million increase in general and administrative
expense.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of
impairment on financial assets not measured at fair value through profit or
loss or net gains by modification of this operating segment for the year ended
December 31, 2017 was a &#8364;453 million expense, a 13.0% decrease compared with
the &#8364;520 million expense recorded for the year ended December 31, 2016, mainly
as a result of the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">impact</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> of the depreciation of the Turkish lira. Excluding this
impact, impairment losses on financial assets increased by 7.3%, mainly as a
result of deterioration in credit quality and an increase in the size of the
loan portfolio. The non-performing asset ratio of this operating segment as of
December 31, 2017 was 3.9% compared with 2.7% as of December 31, 2016. This
increase was mainly the result of increased impairments of wholesale loans, the
majority of which had already been fully provisioned.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/(loss) before tax</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
operating profit before tax of this operating segment for the year ended
December 31, 2017 was &#8364;2,147 million, a 12.7% increase compared with the &#8364;1,906
million of operating profit recorded for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit
from continuing operations of this operating segment for the year ended
December 31, 2017 was &#8364;426 million, a 9.2% increase compared with the &#8364;390
million expense recorded for the year ended December 31, 2016, mainly as a result
of the higher operating profit before tax. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Consequently,
the tax expense amounted to 19.9% of operating profit before tax for the year
ended December 31, 2017, and 20.5% for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to non-controlling interests</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to
non-controlling interests of this operating segment for the year ended December
31, 2017 amounted to &#8364;895 million, a 2.4% decrease compared with the &#8364;917
million recorded for the year ended December 31, 2016 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">mainly</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> as a result of the
completion of our acquisition of an additional 9.95% stake in Garanti on March
22, 2017, which more</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> than offset the effect of
the higher operating profit before tax.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
profit attributable to parent company of this operating segment for the year
ended December 31, 2017 amounted to &#8364;826 million, a 37.9% increase compared
with the &#8364;599 million recorded for the year ended December 31, 2016 mainly as a
result of the higher operating profit before tax and our acquisition of an
additional 9.95% stake in Garanti during the year.
</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;">&nbsp;</h4>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">181</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">SOUTH AMERICA</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=57% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=57% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,200</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,930</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9.2 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">713</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">634</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12.4 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (1)</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">480</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">464</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.4 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(113)</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(133)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(15.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">172</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">158</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8.8 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,451</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,054</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9.8 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,886)</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,793)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5.2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(121)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(100)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">20.8 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (2)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,444</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,160</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13.1 </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=57% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(650)</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(526)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23.6 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=57% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(103)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(82)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26.2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,691</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,552</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8.9 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(486)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(487)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(0.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,205</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,065</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13.1 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,205</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,065</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13.1 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(345)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(294)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">861</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">771</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11.6 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(1)&#160;&#160; Comprises the following income statement line items
contained in the Consolidated Financial Statements: &#8220;Gains (losses) on
derecognition of financial assets and liabilities not measured at fair value
through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and
liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading financial
assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains (losses)
on financial assets and liabilities designated at fair value through profit or
loss, net&#8221;,&#160; &#8220;Gains (losses) from hedge accounting, net&#8221; and &#8220;Exchange
differences, net&#8221;.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(2)&#160;&#160; &#8220;Net margin before
provisions&#8221; is calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and
&#8220;Depreciation and amortization&#8221;.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">182</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:18.0pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In 2017, the Venezuelan bolivar depreciated significantly against
the euro in average terms compared with the year ended December 31, 2016. In
the year ended </font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">December 31, 2017</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the Group used an estimated
exchange rate of 18,182 Venezuelan bolivars per euro. In addition, the
Argentine peso depreciated 12.8% against the euro in average terms. On the
other hand, the Chilean peso, Colombian peso and Peruvian new sol appreciated
in average terms against the euro compared with the year ended December 31,
2016, by 2.1%, 1.4% and 1.4%, respectively. In the aggregate, changes in
exchange rates resulted in a negative impact on most of the headings of the
results of operations of the South America operating segment for the year ended
December 31, 2017 expressed in euros. See</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &#8220;&#8213;Factors Affecting the
Comparability of our Results of Operations and Financial Condition</font></i></font><font face="Times New Roman,serif" style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8213;Trends
in Exchange Rates&#8221;.</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this
operating segment for the year ended December 31, 2017 amounted to &#8364;3,200
million, a 9.2% increase compared with the &#8364;2,930 million recorded for the year
ended December 31, 2016, mainly as a result of growth in the average volume of
interest-earning assets, particularly loans and advances to customers, and, to
a lesser extent, in the securities portfolio and derivatives, partially offset
by the depreciation of the Venezuelan bolivar and the Argentine peso. Assuming
constant exchange rates, net interest income increased by 15.1%. The net
interest margin over total average assets of this operating segment amounted to
4.22% for the year ended December 31, 2017 compared with 4.09% for the year
ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this
operating segment for the year ended December 31, 2017 amounted to &#8364;713
million, a 12.4% increase compared with the &#8364;634 million recorded for the year
ended December 31, 2016, mainly as a result of an increase in credit and debit
card commissions, which amounted to &#8364;33 million, and, to a lesser extent, due
to an increase in checks and bills receivables commissions which increased by
&#8364;13 million, partially offset by the depreciation of local currencies against
the euro. By country, the main variation was registered in Argentina where net
fees and commissions, at a constant exchange rate, increased by &#8364;65 million.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets and
liabilities and exchange differences of this operating segment for the year
ended December 31, 2017 were &#8364;480 million, a 3.4% increase compared with the
&#8364;464 million gain recorded for the year ended December 31, 2016, mainly as a
result of foreign-currency operations.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating expense of
this operating segment for the year ended December 31, 2017 were &#8364;113 million,
a 15.0% decrease compared with the &#8364;133 million recorded for the year ended
December 31, 2016, mainly as a result of the impact of the depreciation of the
Venezuelan bolivar and the Argentine peso.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income and expense on insurance and reinsurance contracts</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net income on insurance and
reinsurance contracts of this operating segment for the year ended December 31,
2017 was &#8364;172 million, an 8.8% increase compared with the &#8364;158 million in net
income recorded for the year ended December 31, 2016, mainly as a result of the
performance in Colombia where income on insurance and reinsurance contracts, at
a constant exchange rate, increased by &#8364;14 million.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">183</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this
operating segment for the year ended December 31, 2017 amounted to &#8364;1,886
million, a 5.2% increase compared with the &#8364;1,793 million recorded for the year
ended December 31, 2016, in line with the average inflation rate in most
countries and partially offset by the impact of the depreciation of the
Venezuelan bolivar and the Argentine peso.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment on financial assets
not measured at fair value through profit or loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of
impairment on financial assets not measured at fair value through profit or
loss or net gains by modification of this operating segment for the year ended
December 31, 2017 was an expense of &#8364;650 million, a 23.6% increase compared
with the &#8364;526 million expense recorded for the year ended December 31, 2016,
mainly as a result of increased impaired assets due to the deterioration of
credit quality with certain customers, partially offset by a decrease in the
volume of the loan portfolio, higher recovery of written-off assets and
depreciation of the Venezuelan bolivar and the Argentine peso. The
non-performing asset ratio of this operating segment as of December 31, 2017
was 3.4% compared with 2.9% as of December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of provisions and other results</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of
provisions and other results of this operating segment for the year ended
December 31, 2017 were a &#8364;103 million expense, a 26.2% increase compared with
the &#8364;82 million expense recorded for the year ended December 31, 2016, mainly
as a result of an increase in contingent liabilities.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/ (loss) before tax</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
operating profit before tax of this operating segment for the year ended
December 31, 2017 was &#8364;1,691 million, an 8.9% increase compared with the &#8364;1,552
million of operating profit recorded for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit
from continuing operations of this operating segment for the year ended
December 31, 2017 was &#8364;486 million, a 0.3% decrease compared with the &#8364;487
million expense recorded for the year ended December 31, 2016, mainly as a
result of the impact of the depreciation of the Venezuelan bolivar and the
Argentine peso. Assuming constant exchange rates, tax expense increased by
10.1%, in line with the 8.9% increase in operating profit before tax.
Consequently, tax expense amounted to 28.7% of operating profit before tax for
the year ended December 31, 2017, and 31.4% for the year ended December 31,
2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to non-controlling interests</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to
non-controlling interests of this operating segment for the year ended December
31, 2017 amounted to &#8364;345 million, a 17.2% increase compared with the &#8364;294
million recorded for the year ended December 31, 2016 mainly as a result of the
stronger performance of our Peruvian and Argentinian operations, where there
are minority shareholders, as well as the reduction of our stake in our
Argentinian operations during 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing, profit attributable to parent
company of this operating segment for the year ended December 31, 2017 amounted
to &#8364;861 million, an 11.6% increase compared with the &#8364;771 million recorded for
the year ended December 31, 2016.
</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;">&nbsp;</h4>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">184</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">REST OF EURASIA</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=57% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=57% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">180</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">166</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8.7 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">164</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">194</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(15.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (1)</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">123</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">87</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40.4 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">45</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(97.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">468</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">491</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4.8) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(297)</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(330)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(9.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(11)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (2)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">160</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">149</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7.0 </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=57% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">30</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(24.3) </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=57% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(6)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m.(3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">177</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">203</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12.9) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(52)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(52)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">0.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">125</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">151</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17.4) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">125</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">151</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17.4) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">125</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">151</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17.4) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(1)&#160;&#160; Comprises the following income statement line items
contained in the Consolidated Financial Statements: &#8220;Gains (losses) on
derecognition of financial assets and liabilities not measured at fair value
through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets and
liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading financial
assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains (losses)
on financial assets and liabilities designated at fair value through profit or
loss, net&#8221;,&#160; &#8220;Gains (losses) from hedge accounting, net&#8221; and &#8220;Exchange
differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(2)&#160;&#160; &#8220;Net margin before provisions&#8221; is
calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and &#8220;Depreciation and
amortization&#8221;.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(3)&#160;&#160; Not meaningful.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">185</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income of this
operating segment for the year ended December 31, 2017 amounted to &#8364;180
million, an 8.7% increase compared with the &#8364;166 million recorded for the year
ended December 31, 2016, mainly as a result of the performance of the Global
Finance unit in Europe, particularly in retail businesses and Corporate and
Investment Banking (C&amp;IB),&#160; and, to a lesser extent the performance of the
Global Markets unit in Europe, partially offset by performance of the Global
Markets unit in Asia.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this
operating segment for the year ended December 31, 2017 amounted to &#8364;164
million, a 15.2% decrease compared with the &#8364;194 million recorded for the year
ended December 31, 2016, mainly as a result of a decrease in securities fees.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets
and liabilities and exchange differences of this operating segment for the year
ended December 31, 2017 were &#8364;123 million, a 40.4% increase compared with the
&#8364;87 million net gain recorded for the year ended December 31, 2016, mainly as a
result of a &#8364;21 million increase in the gains on financial assets in retail
businesses, particularly in Portugal (&#8364;13 million increase) and a &#8364;28 million increase
of the Global Markets unit in Europe, partially offset by a &#8364;25 million
decrease of the Global Markets unit in Asia.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating income of
this operating segment for the year ended December 31, 2017 was &#8364;1 million,
compared with &#8364;45 million in other net operating income recorded for the year
ended December 31, 2016, mainly as a result of our divestment in CNCB, a 2.14%
stake of which we sold in 2017, which resulted in lower dividends from CNCB.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this
operating segment for the year ended December 31, 2017 amounted to &#8364;297
million, a 9.9% decrease compared with the &#8364;330 million recorded for the year
ended December 31, 2016, mainly as a result of expense reduction efforts in the
Corporate and Investment Banking (C&amp;IB) unit in Asia and the retail
business in Europe.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">186</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of
impairment on financial assets not measured at fair value through profit or
loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of
impairment on financial assets not measured at fair value through profit or
loss or net gains by modification of this operating segment for the year ended
December 31, 2017 amounted to income of &#8364;23 million a 24.3% decrease compared
with the &#8364;30 million income recorded for the year ended December 31, 2016,
mainly as a result of the release of provisions, particularly in Portugal. The
non-performing asset ratio of this operating segment as of December 31, 2017
was 1.2% compared with 1.5% as of December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/(loss) before tax</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
operating profit before tax of this operating segment for the year ended
December 31, 2017 was &#8364;177 million, a 12.9% decrease compared with the &#8364;203
million of operating profit recorded for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense related to profit
from continuing operations of this operating segment for the year ended
December 31, 2017 was &#8364;52 million, a 0.3% increase compared with the &#8364;52
million expense recorded for the year ended December 31, 2016, mainly as a
result of a higher effective tax rate attributable in part to lower dividends
received in 2017. Consequently, tax expense amounted to 29.5% of operating
profit before tax for the year ended December 31, 2017, and 25.6% for the year
ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
profit attributable to parent company of this operating segment for the year
ended December 31, 2017 amounted to &#8364;125 million, a 17.4% decrease compared
with the &#8364;151 million recorded for the year ended December 31, 2016.
</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;">&nbsp;</h4>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">187</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h4 style="border:none;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">CORPORATE CENTER</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=57% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><b><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">For the Year Ended December
  31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017 (1)</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></u></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=57% style="height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(357)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(455)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(21.6) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(86)</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(110)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(21.2) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (2)</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">436</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">357</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22.2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">99</font></font></p>
  </td>
 <td width=16% style="height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">197</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(49.7) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Income and expense on insurance and reinsurance
  contracts</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(19)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(21)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(9.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">73</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(31)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (3)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(592)</font></font></p>
  </td>
 <td width=16% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(569)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(297)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(307)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Net margin before provisions (4)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(815)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(907)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10.2) </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=57% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Impairment or reversal of impairment on financial
  assets not measured at fair value through profit or loss or net gains by
  modification</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,125)</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(37)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=57% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(73)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(139)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(47.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,013)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,084)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">85.8 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Tax expense or income related to profit or loss from
  continuing operations</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">166</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">293</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(43.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,847)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(791)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">133.6 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 23.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,847)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(791)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">133.6 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to non-controlling interests</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1)</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(3)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(60.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,848)</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:double black 2.25pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(794)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">132.9 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(1)&#160;&#160; Revised. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">Presentation of Financial
Information&#8212;Changes in Operating Segments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(2)&#160;&#160; Comprises the following income
statement line items contained in the Consolidated Financial Statements: &#8220;Gains
(losses) on derecognition of financial assets and liabilities not measured at
fair value through profit or loss, net&#8221;, &#8220;Gains (losses) on financial assets
and liabilities held for trading, net&#8221;, &#8220;Gains (losses) on non-trading
financial assets mandatorily at fair value through profit or loss, net&#8221;, &#8220;Gains
(losses) on financial assets and liabilities designated at fair value through
profit or loss, net&#8221;,&#160; &#8220;Gains (losses) from hedge accounting, net&#8221; and
&#8220;Exchange differences, net&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(3)&#160;&#160; Not meaningful.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(4)&#160;&#160; &#8220;Net margin before
provisions&#8221; is calculated as &#8220;Gross income&#8221; less &#8220;Administration costs&#8221; and
&#8220;Depreciation and amortization&#8221;.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">188</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income /
(expense)</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest expense of this
operating segment for the year ended December 31, 2017 was &#8364;357 million, a
21.6% decrease compared with the &#8364;455 million expense recorded for the year
ended December 31, 2016, mainly as a result of lower funding costs of the
Group&#8217;s investments.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net fees and commissions of this
operating segment for the year ended December 31, 2017 were an expense of &#8364;86
million, a 21.2% decrease compared with an expense of &#8364;110 million loss
recorded for the year ended December 31, 2016, mainly as a result of an
increase in funds commissions income.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains (losses) on financial assets and liabilities and
exchange differences, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net gains on financial assets
and liabilities and exchange differences of this operating segment for the year
ended December 31, 2017 were &#8364;436 million, a 22.2% increase compared with the
&#8364;357 million gain recorded for the year ended December 31, 2016, mainly as a
result of the sale of a 2.14% stake in CNCB in 2017.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense, net</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating income of
this operating segment for the year ended December 31, 2017 was &#8364;99 million, a
49.7% decrease compared with the &#8364;197 million net income recorded for the year
ended December 31, 2016, mainly as a result of decreased dividends from
Telef&#243;nica, S.A. as it lowered its dividends from &#8364;0.55 per share to &#8364;0.4 per
share, and from CNCB, which also lowered its dividends and also due to the
smaller stake held by the Group in CNCB (following the sale of a 2.14% stake in
2017).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income and expense on insurance and reinsurance contracts</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income and expense on insurance
and reinsurance contracts of this operating segment for the year ended December
31, 2017 amounted to an expense of &#8364;19 million, a 9.8% decrease compared with
the &#8364;21 million expense recorded for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs of this
operating segment for the year ended December 31, 2017 amounted to &#8364;592
million, a 4.1% increase compared with the &#8364;569 million recorded for the year
ended December 31, 2016, mainly as a result of the &#8364;15 million increase in
fixed remuneration and also due to a &#8364;11 million increase in general and
administrative expense, particularly IT expense.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">189</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of
impairment on financial assets not measured at fair value through profit or
loss or net gains by modification</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of
impairment on financial assets not measured at fair value through profit or
loss or net gains by modification of this operating segment for the year ended
December 31, 2017 was a &#8364;1,125 million expense, compared with the &#8364;37 million
expense recorded for the year ended December 31, 2016, mainly as a result of
the recognition of impairment losses of &#8364;1,123 million relating to our slightly
above 5% stake in Telef&#243;nica, S.A. resulting from the fact that its stock price
fell below our acquisition cost for a prolonged period.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of provisions and other results</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or reversal of
provisions and other results of this operating segment for the year ended December
31, 2017 were a &#8364;73 million expense, a 47.3% decrease compared with the &#8364;139
million expense recorded for the year ended December 31, 2016, mainly due to
lower provisions for early retirements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating profit/ (loss) before tax</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the foregoing,
operating loss before tax of this operating segment for the year ended December
31, 2017 was &#8364;2,013 million, an 85.8% increase compared with the &#8364;1,084 million
loss recorded for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax expense or income related to profit or loss from
continuing operations</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax income related to loss from
continuing operations of this operating segment for the year ended December 31,
2017 amounted to &#8364;166 million, a 43.3% decrease compared with the &#8364;293 million
tax income recorded for the year ended December 31, 2016, despite an increase
in operating loss before tax since the recognition of impairment losses
relating to our stake in Telef&#243;nica, S.A. had no impact on taxable income.
Consequently, tax income amounted to 8.3% of operating loss before tax for the
year ended December 31, 2017, and 27.0% for the year ended December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a
result of the foregoing, profit attributable to parent company of this
operating segment for the year ended December 31, 2017 was a loss of &#8364;1,848
million, compared with the &#8364;794 million loss recorded for the year ended
December 31, 2016.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">190</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<h2 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">B.&#160;&#160; Liquidity
and Capital Resources</font></b></font></h2>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Liquidity risk management and
controls are explained in Note 7.5.1 to the Consolidated Financial Statements.
In addition, information on encumbered assets is provided in Note 7.5.2 to the
Consolidated Financial Statements. For information concerning our short-term
borrowing, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 4. Information on the Company&#8212;Selected Statistical
Information&#8212;Liabilities&#8212;Short-term Borrowings&#8221;.</font></i></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The BBVA Group&#8217;s goals for
liquidity and finance management are to fund the growth of the banking business
at suitable maturities and costs, using a wide range of instruments that
provide access to a large number of alternative sources of finance.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A core principle in the BBVA
Group&#8217;s liquidity and finance management is the financial independence of its
banking subsidiaries. This aims to ensure that the cost of liquidity is
correctly reflected in price formation. Accordingly, we maintain liquidity
pools at individual Liquidity Management Units (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">LMUs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) at each of Banco
Bilbao Vizcaya Argentaria, S.A. and our banking subsidiaries, including BBVA
Compass, BBVA Bancomer, Garanti and our Latin American subsidiaries.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The table below shows the
composition of the liquidity pools of Banco Bilbao Vizcaya Argentaria, S.A. and
each of our significant subsidiaries as of December 31, 2018 based on the
categories set forth by the European Banking Authority:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td width=32% style="height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">BBVA Eurozone (1)</font></b></font></p>
  </td>
 <td width=14% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">BBVA Bancomer </font></b></font></p>
  </td>
 <td width=14% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">BBVA Compass </font></b></font></p>
  </td>
 <td width=14% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Garanti </font></b></font></p>
  </td>
 <td width=14% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Others</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=68% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Cash and withdrawable central bank reserves </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26,506</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,666</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,667</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,633</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,677</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Level 1 tradable assets </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29,938</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,995</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,490</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,502</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,652</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Level 2A tradable assets </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">449</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">409</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">510</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Level 2B tradable assets </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,040</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other tradable assets </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,661</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,372</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,043</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">499</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">617</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Non-tradable assets eligible for central banks </font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,314</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Accumulated available balance</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">66,594</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,475</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,024</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,634</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,946</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(1)</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;line-height:115%;"> &#160;&#160;&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">Includes Spain, Portugal and Rest of Eurasia.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Management of liquidity and structural finance within the
BBVA Group is based on the principle of the financial autonomy of the entities
comprising the Group. This approach helps prevent and limit liquidity risk by
reducing the Group&#8217;s vulnerability in periods of high risk. This decentralized
management also helps avoid possible contagion due to a crisis that could
affect only one or several BBVA Group entities, which must cover their
liquidity needs independently in the markets where they operate. LMUs have been
set up for this reason in the geographical areas where the Group&#8217;s main foreign
subsidiaries operate, and also for the parent company of the Group (Banco
Bilbao Vizcaya Argentaria S.A.), within the Euro currency scope, which LMU also
includes BBVA Portugal and the Rest of Eurasia.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Finance Division, through the Global Assets and Liabilities
Management unit manages the BBVA Group&#8217;s liquidity and funding. It plans and
executes the funding of the long-term structural gap of each LMU and proposes to
the Assets and Liabilities Committee (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ALCO</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) the actions to adopt in
this regard in accordance with the policies and limits established by the
Executive Committee.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a first core element, the Bank&#8217;s targets in terms of liquidity and
funding risk are centered on the Liquidity Coverage Ratio (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">LCR</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and
the Loan-to-Stable-Customer-Deposits (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">LtSCD</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) ratio. LCR is a
regulatory measurement aimed at ensuring entities&#8217; resilience in a scenario of
liquidity stress within a time horizon of 30 days. BBVA, within its risk
appetite framework and its limits and alerts schemes, has established a
requirement for compliance with the LCR ratio both for the Group as a whole and
for each of the LMUs individually. The internal levels required were designed
to comply in advance with the implementation of the regulatory requirements of
2018, at a level above 100%.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">191</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_197"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">LCR came into force in Europe on October 1, 2015, with an
initial 60% minimum requirement, progressively increased (phased-in) up to 100%
in 2018. Throughout 2018, the LCR level at the BBVA Group remained above 100%.
As of December 31, 2018, the LCR ratio at Group level was 127%.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Although this regulatory requirement is mandatory for the Group on a
consolidated basis as a Eurozone bank, all of the Group&#8217;s subsidiaries are also
above this minimum. Liquidity excesses in subsidiaries are not deemed
transferable when calculating the consolidated LCR ratio. Taking into account
the impact of High Quality Liquid Assets that are otherwise excluded, <a name="_cp_text_1_2456"></a>the Group&#8217;s LCR ratio would be 154%, which is +27% <a name="_cp_text_1_2459"></a>higher than &#160;the Group&#8217;s LCR.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For the purpose of establishing the (maximum) target levels for LtSCD in
each LMU and providing an optimal funding structure reference in terms of risk
appetite, the Global Risk Management (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">GRM</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) Structural Risk unit
identifies and assesses the economic and financial variables that condition the
funding structures in the various geographical areas. The behavior of the
indicators reflects that the funding structure remained robust in 2018 and
2017, in the sense that all the LMUs maintained levels of self-funding with
stable customer funds which were higher than the required levels.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The second core element in liquidity and funding risk management is the
achievement of proper diversification of the funding structure, avoiding
excessive reliance on short-term funding and establishing a maximum level of
short-term borrowing comprising both wholesale funding as well as less stable
funds from non-retail customers. Regarding long-term funding, its maturity
profile does not show significant concentrations, which contributes to the
adaptation of the anticipated securities issuance schedule to financial
conditions of the markets. Moreover, concentration risk is monitored at the LMU
level, with a view to ensuring appropriate diversification both by counterparty
and by instrument type.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The third element promotes the short-term resilience of the liquidity
risk profile, helping ensure that each LMU has sufficient collateral to address
the risk of wholesale markets closing. Basic Capacity is the short-term
liquidity risk management and control metric that is defined as the
relationship between the available explicit assets, such as collaterals for
central banks, and the maturities of wholesale liabilities and volatile funds,
at different terms, with special relevance being given to 30-day maturities.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA&#8217;s principal source of funds
is its customer deposit base, which consists primarily of demand, savings and
time deposits. In addition to relying on customer deposits, BBVA also accesses
the interbank market (overnight and time deposits) and domestic and
international capital markets for its additional liquidity requirements. To
access the capital markets, BBVA has in place a series of domestic and
international programs for the issuance of commercial paper and medium- and
long-term debt. Another source of liquidity is the generation of cash flow from
operations. Finally, BBVA supplements its funding requirements with borrowings
from the Bank of Spain and from the ECB or the respective central banks of the
countries where its subsidiaries are located (s</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ee
Note 9 to the Consolidated Financial Statements for information on our
borrowings from central banks).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table shows the
balances as of December 31, 2018, 2017 and 2016 of our principal sources of
funds (including accrued interest, hedge transactions and issue expenses):</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31,</font></b></font></p>
  </td>
 <td valign=top width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 width=61% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Deposits from central banks</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">37,792</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">37,054</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,740</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Deposits from credit institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47,665</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">54,516</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">63,501</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">388,682</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">376,379</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">401,465</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Debt certificates </font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">63,970</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">63,915</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">76,375</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other financial liabilities</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16,003</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14,072</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,129</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=39% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">554,112</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">545,936</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">589,210</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">192</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_198"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Customer
deposits</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Customer deposits (including &#8220;Financial liabilities at
amortized cost - Customer deposits&#8221;, &#8220;Financial liabilities designated at fair
value through profit or loss &#8211; Customer deposits&#8221; and &#8220;Financial liabilities
held for trading &#8211; Customer deposits&#8221;) amounted to &#8364;388,682 million as of
December 31, 2018 compared with &#8364;376,379 million as of December 31, 2017 and
&#8364;401,465 million as of December 31, 2016. The increase was mainly a result of
the 12.7% increase in demand deposits in Banking Activity in Spain. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our customer deposits, excluding assets sold under repurchase
agreements, amounted to &#8364;374,763 million as of December 31, 2018 compared with
&#8364;367,300 million as of December 31, 2017 and &#8364;387,974 million as of December
31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Deposits from credit institutions and central banks</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><a name="_cp_text_1_2471"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table shows amounts
due to credit institutions and central banks as of December 31, 2018, 2017 and
2016:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31,</font></b></font></p>
  </td>
 <td valign=top width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 width=61% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=39% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Deposits from credit institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47,665</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">54,516</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">63,501</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=39% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Deposits from central banks</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">37,792</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">37,054</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34,740</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=39% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">85,457</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">91,570</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">98,241</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Deposits from credit institutions and
central banks amounted to &#8364;85,457 million as of December 31, 2018 compared with
&#8364;91,570 million as of December 31, 2017 and &#8364;98,241 million as of December 31,
2016. The decrease as of December 31, 2018 compared with December 31, 2017 was
mainly attributable to the decrease in the amount of deposits in Turkey as well
as to the depreciation of certain local currencies, including the Turkish lira.
</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Capital markets</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We make debt issuances in the domestic and international
capital markets in order to finance our activities. As of December 31, 2018 we
had &#8364;43,477 million of senior debt outstanding, comprising &#8364;39,973 million in
bonds and debentures and &#8364;3,504 million in promissory notes and other
securities, compared with &#8364;47,027 million, &#8364;42,561 million<a name="_cp_text_1_2475"></a> and &#8364;4,466 million outstanding, respectively, as of
December&nbsp;31, 2017 and &#8364;59,390 million, &#8364;58,173 million and &#8364;1,217 million
outstanding, respectively, as of December&nbsp;31, 2016 (see Note 22.4 to the
Consolidated Financial Statements).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, we had a total of &#8364;17,866 million in
subordinated debt and &#8364;181 million in preferred securities outstanding as of
December 31, 2018 compared with &#8364;17,153 million and &#8364;163 million, respectively,
as of December 31, 2017 (&#8364;15,718 million and &#8364;987 million, respectively, as of
December 31, 2016).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The breakdown of the outstanding subordinated debt and
preferred securities by issuer, maturity, interest rate and currency is
disclosed in Appendix VI of the Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following is a breakdown as of December 31, 2018</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">of the maturities of our
debt securities (including bonds) from credit institutions and subordinated
liabilities recorded under &#8220;Financial liabilities at amortized cost&#8221;.
Regulatory equity instruments have been classified according to their
contractual maturity:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:21.75pt;">
  <td nowrap valign=bottom width=30% style="height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Demand</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Up to 1 Month</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1 to 3 Months</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">3 to 12 Months</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1 to 5 Years</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Over 5 Years</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=30% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=70% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Senior debt</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">21</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,601</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">672</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,923</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27,912</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,346</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">43,476</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=top width=30% style="height:24.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Subordinated debt and preferred securities</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">44</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,214</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,789</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,047</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=top width=30% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">21</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,601</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">673</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,967</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">32,126</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23,135</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">61,523</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">193</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_199"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Generation of Cash
Flow</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We operate in Spain, Mexico, Turkey, the United States and over 30 other
countries, mainly in Europe, Latin America, and Asia. Our banking subsidiaries
around the world, including BBVA Compass, are subject to supervision and
regulation by a variety of regulatory bodies relating to, among other things,
the satisfaction of different solvency, resolution and/or governance
requirements. The obligation to satisfy such requirements may affect the
ability of our banking subsidiaries, including BBVA Compass, to transfer funds
to us in the form of cash dividends, loans or advances. In addition, under the
laws of the various jurisdictions where our subsidiaries, including BBVA
Compass, are incorporated, dividends may only be paid out of funds legally
available and, in certain cases, subject to the prior approval of the competent
regulatory or supervisory authorities. For example, BBVA Compass is
incorporated in Alabama and under Alabama law it is not able to pay any dividends
without the prior approval of the Superintendent of Banking of Alabama if the
dividend would exceed the total net earnings for the year combined with the
bank&#8217;s retained net earnings of the preceding two years.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Even where any applicable requirements are met and funds are legally
available, the relevant regulator could advise against the transfer of funds to
us in the form of cash dividends, loans or advances, for prudence reasons or
otherwise. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">There is no assurance that in the future other similar restrictions will
not be adopted or that, if adopted, they will not negatively affect our
liquidity. The geographic diversification of our businesses, however, may help
to limit the effect on the Group of any restrictions that could be adopted in
any given country. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We believe that our working capital is sufficient for our present
requirements and to pursue our planned business strategies.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See Note 51 of the Consolidated Financial Statements for
additional information on our consolidated statements of cash flows.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Capital</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December&nbsp;31, 2018 and 2017, equity is calculated
in accordance with current regulations on minimum capital base requirements for
Spanish credit institutions on both an individual and consolidated basis. These
regulations dictate how to calculate equity levels, as well as the various
internal capital adequacy assessment processes they should have in place and
the information such institutions should disclose to the market.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The minimum capital base requirements
established by the current regulations are calculated according to the Group&#8217;s
exposure to credit and dilution risk, counterparty and liquidity risk relating
to the trading portfolio, exchange-rate risk and operational risk. In addition,
the Group must fulfill the risk concentration limits established in these
regulations and internal corporate governance obligations.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of February 14, 2019 BBVA
received a communication of the ECB about the results of the supervisory review
and evaluation process (SREP). Taking into account the full application of
capital buffers since January 1, 2019 and considering the latest capital
requirement communicated from the ECB, BBVA is required to maintain from March
1, 2019:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:42.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">1.&#160;&#160; A CET1 ratio of 9.26% at
the consolidated level; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:42.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2.&#160;&#160; A total capital ratio of
12.76% at the consolidated level. This total consolidated capital ratio
includes i) the minimum CET1 requirement under Pillar 1 (4.5%); ii) the
additional tier 1 capital (AT1) requirement under Pillar 1 (1.5%); iii) the
tier 2 capital requirement under Pillar 1 (2%); iv) the CET1 capital
requirement under Pillar 2 (1.5%); v) the capital conservation buffer (2.5% of
CET1); vi) the Other Systemic Important Institution buffer (OSII) (0.75% of
CET1); and vii) the countercyclical capital buffer (0.01% of CET1).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our consolidated ratios as of</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> December 31, 2018 and December 31, 2017 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">were as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=43% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31,</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31,</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">% Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=43% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2018</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2017</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2018-2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=43% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 width=57% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Ordinary Tier 1 Capital</font></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">50,887</font></font></p>
  </td>
 <td width=18% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">50,935</font></font></p>
  </td>
 <td width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(0.1)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Adjustments</font></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10,573)</font></font></p>
  </td>
 <td width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(8,594)</font></font></p>
  </td>
 <td width=19% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23.0</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mandatory convertible bonds</font></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">CORE CAPITAL (a)</font></b></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40,313</font></b></font></p>
  </td>
 <td width=18% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">42,341</font></b></font></p>
  </td>
 <td width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4.8)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Preferred securities</font></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,634</font></font></p>
  </td>
 <td width=18% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,296</font></font></p>
  </td>
 <td width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10.5)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Adjustments</font></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,657)</font></font></p>
  </td>
 <td width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(100.0)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">CAPITAL (TIER 1) (b)</font></b></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">45,947</font></b></font></p>
  </td>
 <td width=18% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">46,980</font></b></font></p>
  </td>
 <td width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2.2)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">OTHER ELIGIBLE CAPITAL (TIER 2) (c)</font></b></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,756</font></b></font></p>
  </td>
 <td width=18% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,798</font></b></font></p>
  </td>
 <td width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(0.5)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES-TRAD style="font-size:9.0pt;">CAPITAL BASE (TIER 1 + TIER
  2) (d)</font></b></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">54,703</font></b></font></p>
  </td>
 <td width=18% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">55,778</font></b></font></p>
  </td>
 <td width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1.9)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Minimum capital requirement </font></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">41,619</font></font></p>
  </td>
 <td width=18% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40,370</font></font></p>
  </td>
 <td width=19% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3.1</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">CAPITAL SURPLUS</font></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,085</font></font></p>
  </td>
 <td width=18% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,408</font></font></p>
  </td>
 <td width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(15.1)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">RISK WEIGHTED ASSETS (RWA) (e)</font></b></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">348,264</font></b></font></p>
  </td>
 <td width=18% style="height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">362,875</font></b></font></p>
  </td>
 <td width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(4.0)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="background:white;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=19% style="background:white;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=43% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">BIS RATIO (d)/(e)</font></b></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15.71%</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15.37%</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:white;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=43% style="background:white;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">CORE CAPITAL (a)/(e)</font></b></font></p>
  </td>
 <td nowrap width=20% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11.58%</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11.67%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="background:white;height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=43% style="background:white;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TIER 1 (b)/(e)</font></b></font></p>
  </td>
 <td nowrap width=20% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13.19%</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12.95%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="background:white;height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=43% style="background:white;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">TIER 2 (c)/(e)</font></b></font></p>
  </td>
 <td nowrap width=20% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.51%</font></b></font></p>
  </td>
 <td nowrap width=18% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2.42%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="background:white;height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, the Group&#8217;s CET1 phased-in ratio was 11.6% (in
fully-loaded terms, the Group&#8217;s CET1 phased-in ratio was 11.3%). Excluding the
effect of the phased-in calendar in minority interests and deductions that goes
from 80% in 2017 to 100% in 2018, and including the positive impact of the sale
of the stake in BBVA Chile (+50 bps), the CET1 phased-in ratio increased by +48
bps. This increase is mainly explained by the generation of profit net of dividend
payments and remunerations of AT1 instruments and the contained evolution of
risk-weighted assets.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s CET1 phased-in ratio includes the impact of the initial
implementation of IFRS 9. In this context, the European Commission and
Parliament have established temporary arrangements that are voluntary for
banking institutions, adapting the impact of IFRS 9 on capital adequacy ratios.
BBVA has informed the supervisory board of its adherence to these arrangements.
</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Additionally, the transfer of a significant portion of BBVA&#8217;s real estate
business in Spain to Divarian had no material impact on the ratio.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s Tier 1 phased-in ratio stood at 13.2% as of December 31,
2018. This included two new issuances of contingent convertible preferred
shares</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.5pt;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(CoCos), rated as Additional Tier 1 instruments for an
aggregate amount of $1,000 million and &#8364;1,000 million, respectively. In
addition, the Group no longer includes a $1.500 million issuance of Additional Tier
1 instruments which was redeemed in early May 2018 and another &#8364;1,500 million
issuance which the Group announced it would redeem in January 2019. The net
impact of the two new emissions and the two exclusions referred to above on the
phased-in Tier 1 capital ratio was -26 basis points.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">With respect to the Group&#8217;s Tier 2 ratio, the Group received
authorization from the ECB in the third quarter of 2018 to include a
subordinated issuance of $300 million which was completed in May. Following the
sale of the Group&#8217;s stake in BBVA Chile, the Group&#8217;s Tier 2 ratio no longer
includes BBVA Chile&#8217;s issuances.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As a result of the above, the Group&#8217;s total capital phased-in ratio as of
December 31, 2018 was 15.7%.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, the Group has continued to meet applicable
MREL requirements by carrying out two senior non-preferred issuances amounting
to &#8364;2,500 million in the aggregate. Considering BBVA&#8217;s Multiple Point of Entry
(MPE) resolution strategy, the Single Resolution Board (SRB) determined that
BBVA must meet, starting on January 1, 2020, a MREL requirement of 15.08% of
the total liabilities and own funds of its European resolution group (including
BBVA and its subsidiaries), based on its consolidated financial information as
of December 31, 2016 (28.04% expressed in terms of risk-weighted assets).
According to our estimates, the current own funds and eligible liabilities
structure of BBVA&#8217;s European resolution group is in line with the applicable
MREL requirement.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="-sec-extract:summary;border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Risk-weighted assets decreased during the year ended
December 31, 2018, largely due to the sale of BBVA Chile, the Cerberus
Transaction and the depreciation of currencies in countries where the Group
operates against the euro. In addition, the Group completed three
securitization transactions in 2018: (a) a traditional securitization
transaction in June 2018 of a consumer automobile loan portfolio amounting to
&#8364;800 million, and (b) two synthetic securitization transactions in March and
December 2018, respectively, in respect of which the European Investment Fund
(a subsidiary of the European Investment Bank) provided a financial guarantee.
These three securitization transactions have resulted in a positive impact on
capital of &#8364;971 million through a reduction of risk-weighted assets. During the
first half of 2018, BBVA received an authorization from the ECB to update the
calculation of its risk-weighted assets on structural exchange risk under the
standard model.</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">C.&#160;&#160; Research and Development, Patents and Licenses, etc.</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In 2018, we continued to foster the use of new technologies
as a key component of our global development strategy. We explored new business
and growth opportunities, focusing on three major areas: emerging technologies;
digital banking; and data driven initiatives, in each case with the customer as
the focal point of our banking business.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The BBVA Group is not materially dependent on the issuance
of patents, licenses and industrial, mercantile or financial contracts or on
new manufacturing processes in carrying out its business purpose.</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">D.&#160;&#160; Trend Information</font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The European financial services
sector is expected to remain competitive in the current challenging
environment. Further consolidation in the sector through mergers, acquisitions
or alliances, might be possible. Some banks have exited some lines of their
non-core businesses and activities.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">There are four main trends that
are expected to shape the sector profitability in the future: the slow economic
recovery, the low (or even negative) interest rate environment (especially in
Spain), the surge of alternative finance providers and the completion and the
implementation of the already existing financial regulatory reforms. At the
same time there are new and evolving risks, such as market based and asset
management activities, misconduct risks and the decline of correspondent
banking, among others.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For a discussion on the slow
economic recovery trend, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8213;Operating Results&#8213;Factors
Affecting the Comparability of our Results of Operations and Financial
Condition&#8213;Operating Environment&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. Regarding the second trend, the
impact of the ultra-expansionary monetary policy is significant in the sector&#8217;s
results, where the reductions of credit interest rates cannot be compensated by
a similar contraction of the deposit rates as customers are not accustomed to
negative deposit rates and that funding source is crucial for banks. This is
particularly important in a country like Spain, where mortgages account for a
significant proportion of credit (more than 40%) and nine out of 10 mortgages
are estimated to be on variable rates. Further, alternative finance providers
are growing very fast in line with technological advances and becoming a very
important competitor for the banking industry (see also &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 4. Information
on the Company&#8213;Competition</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). These entities, which form part of the
shadow banking sector, do not have to comply with a regulation scheme as strict
as that applicable to banks. Finally, regarding the fourth trend, it is
possible that, in the framework of the banking union and in the capital markets
union, regulatory changes and enhanced institutional architecture might
contribute to a more competitive and less fragmented landscape.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">There are still some challenges
to be addressed, such as the banking conduct and culture and their implications
on consumer and investor protection issues. An ethical behavior is of the
utmost importance for the banking business to recover the trust that was lost
during the last financial crisis.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial stability and consumer
protection are the final goals of the global financial regulatory reform that
started ten years ago. However, if such reform is applied locally, inconsistently
and heterogeneously, it can lead to divergences, regulatory inconsistencies and
regulatory arbitrages with unintended consequences. In addition to that, the
lack of homogeneity at the European level makes it difficult for investors to
evaluate financial institutions and often impose additional burdens on
financial institutions. This could reduce the potential synergies for the
Group, as it might not be allowed to sell the same products across all the
jurisdictions in which it carries out its activities.</font></font></p>


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</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regarding
consumer protection rules, the European Commission proposed on February 10,
2016 the application of the revised Markets in Financial Instruments Directive
(MiFID II) and Regulation (MiFIR) of the European Parliament and of the
European Council be delayed by one year until January 3, 2018. Six days later,
the European Parliament also proposed the deferral of its transposition into
national legislation for one year, until July 3, 2017. This decision responded
to concerns expressed by the European Securities and Markets Authority (the
&#8220;ESMA&#8221;) regarding the fact that neither the competent authorities, nor market
participants, would have the necessary information technology systems ready in
time for earlier implementation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Broadly, MiFID II / MiFIR goals
are fostering investor protection, enhancing market transparency, multilateral
trading (instead of bilateral or OTC trading) and competition and improving
corporate governance and compliance, all at the same time. It represents a
significant overhaul of MiFID -that came into force in 2007- and will have a
significant impact in European markets and all types of financial instruments,
both equity and non-equity. It represents a significant effort in terms of
costs for regulators, supervisors and financial entities to adapt their systems
to the new requirements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For fostering investor
protection, MiFID II / MiFIR establish (i) stricter requirements for product
design, distribution and follow-up; (ii) tougher conditions for the provision
of independent services; (iii) the prohibition, subject to certain exceptions,
of any remuneration, discount or non-monetary benefit in exchange for advisory
services, including research and (iv) a detailed cost disclosure.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The greater pre-trade
transparency and multilateral trading in markets might result in narrower
margins due to a compression of spreads and in a change of paradigm in the
competitive landscape. In addition, the higher post-trade transparency may have
unintended consequences as a result of the availability of public information
related to transactions closed on book positions.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Another key regulation for
consumer protection in Europe is the Packaged Retail and Insurance-based
Investment Products (&#8220;PRIIPs&#8221;). The original proposal from the European
Commission was released on July 3, 2012 and the regulation on Key Information
Documents (&#8220;KIDs&#8221;) for PRIIPS was passed and published in the Official Journal
of the EU on November 26, 2014 and was expected to become effective on January
1, 2017. However, the Commission decided to extend by one year the
implementation of the PRIIPS regulation in order to align its implementation
with MiFID II and assure a smooth implementation for European consumers and
ensure legal certainty for the sector.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The PRIIPs regulation aims at increasing
transparency and comparability among investment products. As such, financial
institutions have to provide consumers with the most relevant information to
make their investment decisions with a clear understanding of all the risks,
costs and possible performance scenarios involved. The European Supervisory
Authorities (&#8220;ESAs&#8221;) launched a Joint Consultation Paper on November 10, 2015
with the proposed Regulatory Technical Standards (RTS) that define the Level 2
requirements of the PRIIPs Regulation, including both presentation and content
of the KIDs. On June 30, 2016 the Commission adopted a delegated act setting
the RTS specifying the content and underlying methodology of the KIDs. However,
on September 14, 2016&nbsp;the European Parliament voted down the delegated act
and called for certain modifications. The final version of the RTS was
published in the Official Journal of the EU on April 8, 2017 and is in effect
from January 1, 2018.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Bank Recovery and Resolution
Directive (BRRD) has been binding in Spain since June 2015 when it was
implemented by Law 11/2015. The BRRD sets a common framework for all EU
countries with the intention to pre-empt bank crises and resolve financial
institutions in an orderly manner in the event of failure, while preserving
essential bank operations and minimizing taxpayer costs, thus helping to
restore confidence in Europe&#8217;s financial sector. The bail-in tool, in effect in
Spain since 2016, implies that a large part of a bank&#8217;s creditors will be
written-down or converted into equity in a resolution scenario, thereby helping
to recapitalize a failing bank without recourse to taxpayers. For that to be
effective, the BRRD requires banks to have enough loss-absorbing liabilities by
forcing them to comply with a new requisite: the Minimum Requirement of own
funds and Eligible Liabilities (MREL). Despite the impact on banks&#8217; liability
structure, we believe the introduction of the bail-in tool and the MREL
enhances banks&#8217; fundamentals, encourages positive discrimination between issuers,
breaks down the sovereign-banking link, increases market discipline, and,
importantly, minimizes the possibility of bail-outs in the future.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On
December 14, 2016, the EBA submitted its final report on the implementation and
design of the MREL framework, which contains a number of recommendations to
amend the current MREL framework. In parallel, the EU Commission launched a
legislative proposal known as the EU Banking Reform Package in order to amend
current banking prudential and resolution frameworks by, among other things,
improving the MREL framework and implementing the international loss absorption
requirement for G-SIBS known as Total Loss Absorption Capacity (TLAC). </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">After more than two years, the
negotiations in the EU Council and the EU Parliament are coming to an end. A
political agreement was reached in December 2018 and the subsequent phase of
technical amendments ended in February 2019. The final text is expected to be
published by June 2019 and will enter into force in between one and a half to
two years after the date of their publication in the Official Journal of the
EU. The revision includes the implementation of several international standards
into EU law (including some regulatory pieces adopted by the Basel Committee
after 2010 and the TLAC standard). The revision also includes a legislative
proposal to partially harmonize bank creditor hierarchies across the EU and to
create a new bank debt class known as senior non-preferred, ranking below
traditional senior debt but above subordinated creditors. This specific
proposal was approved through a fast track process at the end of 2017 and all
EU Member States were required to transpose it into their national law by the
end of 2018. Spain chose to anticipate this proposal by transposing this
proposal in the summer of 2017. Since then, many Spanish banks including BBVA
have issued senior non-preferred bonds.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In 2018, the SRB communicated
the MREL requirement to BBVA on the basis of the current legislation, including
the SRB MREL policies. As of today, BBVA is already complying with MREL and its
funding plan is aimed at the fulfillment of MREL by 2020, the date when it will
become binding for the Group.</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">E.&#160;&#160; Off-Balance Sheet Arrangements</font></b></font></h2>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.15pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition to loans, the
following amounts of off-balance sheet arrangements were outstanding as of the
dates indicated:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 valign=top width=50% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 width=50% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Bank guarantees</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40,227</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38,889</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">39,722</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Letters of credit</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7,347</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">8,781</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">10,210</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=50% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total financial guarantees given (contingent risks)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47,575</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">47,671</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">49,932</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:2.25pt;margin-top:9.0pt;page-break-after:avoid;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition to the off-balance
sheet arrangements described above, the following tables provide information
regarding commitments to extend credit and assets under management as of the
dates indicated:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td nowrap valign=bottom width=50% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 valign=top width=50% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 width=50% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,635</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">946</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">859</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Government and other government agencies</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,318</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,198</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,110</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other resident sectors</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">48,600</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">32,990</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">28,323</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Non-resident sector</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">58,405</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">58,133</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">74,961</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total contingent liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">118,959</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">94,268</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">107,253</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=50% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total contingent risks and contingent liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">166,534</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">141,939</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">157,185</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:2.25pt;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 valign=top width=50% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 width=50% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mutual funds</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">61,393</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">60,939</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">55,037</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Pension funds</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33,807</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33,985</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">33,418</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Customer portfolios</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29,953</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">36,901</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">40,805</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other resources</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,949</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,081</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,831</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=50% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total assets under management</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">128,102</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">134,906</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">132,091</font></b></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">198</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_204"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See Notes 33 and 36 to the
Consolidated Financial Statements for additional information with respect to
our off-balance sheet arrangements.</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">F.&#160;&#160; Tabular Disclosure of Contractual Obligations</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our consolidated contractual
obligations as of December 31, 2018</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">based on when they are due, were as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:21.75pt;">
  <td valign=bottom width=29% style="background:white;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Less Than One Year</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="background:white;border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">One to Three Years</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="background:white;border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Three to Five Years</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="background:white;border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Over Five Years</font></b></font></p>
  </td>
 <td valign=bottom width=13% style="background:white;border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=29% style="background:white;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 valign=bottom width=71% style="background:white;border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=29% style="background:white;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="background:white;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="background:white;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="background:white;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="background:white;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=13% style="background:white;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=29% style="background:white;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Senior debt (1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:12.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,218</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,252</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,661</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,346</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">43,476</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=top width=29% style="background:white;height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Subordinated debt and preferred securities (1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:16.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">44</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:16.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,493</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:16.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,721</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:16.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">13,789</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:16.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,047</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=29% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Customer deposits (1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">345,449</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">15,368</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,251</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">11,901</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">375,970</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=top width=29% style="background:white;height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Capital lease obligations </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:13.5pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=29% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Operating lease obligations </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">251</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">253</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">554</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,879</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2,937</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=29% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Purchase obligations </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">28</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">28</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=29% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Post-employment benefits (2) </font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">815</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,386</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,052</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,979</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,232</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=29% style="background:white;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Insurance commitments (3)</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,686</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,041</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,822</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,285</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">9,834</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=top width=29% style="background:white;height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total (4) </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">354,491</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">32,794</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24,060</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">44,180</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="border:none;border-bottom:double black 2.25pt;height:15.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">455,524</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; Refers to liabilities recorded
under &#8220;Financial liabilities at amortized cost&#8221;. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160;&#160; Represents
the Group&#8217;s estimated aggregate amounts for pension commitments in
defined-benefit plans and other post-employment commitments (such as early
retirement and welfare benefits), based on certain actuarial assumptions.
Post-employment benefits are detailed in Note 25 to the Consolidated Financial
Statements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160; &#160;Liabilities
under insurance and reinsurance contracts.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(4)&#160;&#160;
The majority of senior and subordinated debt was issued at fixed rates (see
Note 22.4 to the Consolidated Financial Statements). Floating-rate amounts were
calculated based on the conditions prevailing as of December 31, 2018. The
financial cost of such issuances for 2018, 2017 and 2016 is detailed in Note
37.2 to the Consolidated Financial Statements.</font></font><font style="border:none;">
&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;mso-fareast-font-family:MS Mincho;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:.0001pt;margin-left:27.25pt;margin-right:0cm;margin-top:0cm;text-indent:-17.25pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&nbsp;</font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<h1 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM
6.&#160;&#160; DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</font></b></font></h1>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Board of Directors is committed to a good corporate
governance system in the design and operation of our corporate bodies in the
best interests of the Company and our shareholders.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Board of Directors is subject to Board Regulations that
reflect and implement the principles and elements of BBVA&#8217;s concept of
corporate governance. These Board Regulations comprise standards for the
internal management and operation of the Board and its Committees, as well as
the rights and obligations of directors in the performance of their duties,
which are contained in the directors&#8217; charter.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">General shareholders&#8217; meetings are subject to their own set
of regulations on issues such as how they operate and what rights shareholders
enjoy regarding such meetings. These establish the possibility of exercising or
delegating votes over remote communication media.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Board of Directors has approved a report on corporate
governance and a report on <a name="_cp_text_1_656"></a>directors&#8217; remuneration
for 2018, according to the forms set forth under Spanish regulation for listed
companies.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Shareholders and investors may find the documents referred
to above on our website (www.bbva.com).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our website was created as an instrument to facilitate
information and communication with shareholders. It provides special direct
access to all information considered relevant to BBVA&#8217;s corporate governance
system in a user-friendly manner. In addition, all the information required by
article 539 of the Corporate Enterprises Act can be accessed on BBVA&#8217;s website
(www.bbva.com).</font></font></p>

<h2 style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">A.&#160;&#160; Directors and Senior
Management </font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We are managed by a Board of Directors that is currently
composed of 15 members.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pursuant to article 1 of the Board Regulations, Bank
directorships may be executive or non-executive. Executive directors are those
who perform management functions in the Company or its Group entities,
regardless of the legal relationship they have with such companies. All other
Board members will be considered non-executives and they may be proprietary,
independent or other external directors.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Independent directors are those non-executive directors who
have been appointed in view of their personal and professional background who
can perform their duties without being constrained by their relations with the
Company or its Group, its significant shareholders or its executives. Under the
Board Regulations, directors cannot be deemed independent <a name="_cp_text_1_658"></a>if they:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(a)&#160;&#160;
have been employees or executive directors in Group companies, unless three</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">or five
years have elapsed, respectively since they ceased as employees or executive
directors, as the case may be;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(b)&#160;&#160;
receive from the Company or its Group entities, any amount or benefit for an
item other than remuneration for their directorship, except where the sum is
insignificant. This does not include either dividends or pension supplements
that a director may receive due to a former professional or employment
relationship, provided these are unconditional and, consequently, the company
paying them may not at its own discretion, suspend, amend or revoke their
accrual unless there has been a breach of duty; </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(c)&#160;&#160;
are partners of the external auditor or in charge of the audit report or have
been so in the last three years, whether the audit in question was carried out
on the Company or any other Group entity; </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(d)&#160;&#160;
are executive directors or senior managers of another company in which a
Company&#8217;s executive director or senior manager is an external director;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(e)&#160;&#160; maintain any significant business relationship with
the Company or with any Group company or have done so over the last year,
either in their own name or as a significant shareholder, director or senior
manager of a company that maintains or has maintained such a relationship.
Business relationship here means any relationship as supplier of goods or
services, including financial goods or services, and as advisor or consultant; </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(f)&#160;&#160;
are significant shareholders, executive directors or senior managers of any entity
that receives, or has received over the last three years,</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">donations
from the Company or its Group. Those persons who are merely trustees in a
foundation receiving donations shall not be deemed to be included under this
letter; </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(g)&#160;&#160;
are spouses, or spousal equivalents or related up to second degree of kinship
to an executive director or senior manager of the Company; </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(h)&#160;&#160;
have not been proposed by the Appointments Committee for appointment or
renewal;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(i)&#160;&#160;
have held a directorship for a continuous period of more than 12 years; or</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(j)&#160;&#160;
are related to any significant shareholder or shareholder represented on the
Board of Directors under any of the circumstances described under letters (a),
(e), (f) or (g) above. In the event of kinship relationships mentioned in
letter (g), the limitation will apply not only with respect to the shareholder,
but also with respect to their proprietary directors in the company in which
the shareholder holds an interest.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Directors who hold
shares in the Bank may be considered independent provided they comply with the
above conditions and their shareholding is not legally considered to be
significant.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regulations of the Board of Directors </font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The principles and elements comprising our corporate
governance are set forth in our Board Regulations, which govern the internal
procedures and the operation of the Board and its Committees and directors&#8217;
rights and duties as described in their charter. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The full text of the Board Regulations can be <a name="_cp_text_1_660"></a>found on the Bank&#8217;s corporate website (www.bbva.com).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following provides a brief description of several
significant matters covered in the Regulations of the Board of Directors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Performance of Directors&#8217; Duties</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Directors must comply with their duties as defined by
legislation and by our Bylaws in a manner that is faithful to the interests of
the Company.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">They will participate in the deliberations, discussions and
debates on matters submitted for their consideration, expressing their
opposition when they consider that a draft resolution submitted to the Board
may be contrary to the Company&#8217;s interests and will be appraised of the
necessary information to be able to form their own opinions regarding questions
corresponding to our corporate bodies. They may request any additional
information and advice they require to comply with their duties. They must
devote to their duties the time and effort which is necessary to perform them
efficiently and they are obliged to attend the meetings of corporate bodies and
of the Board Committees on which they sit, unless they can justify the reason
for their absence.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The directors may also request the Board of Directors for
assistance from external experts on matters subject to their consideration
whose special complexity or importance so requires.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Conflicts of Interest</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The rules comprising the BBVA directors&#8217; charter detail
different situations in which conflicts of interest could arise between
directors, their family members and/or organizations with which they are
linked, and the BBVA Group. They set out procedures for such cases, in order to
avoid conduct contrary to our best interests. The rules contained in the BBVA
Board of Directors&#8217; charter are in line with the specific regulation
established on the Spanish Corporate Enterprises Act.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">These rules help ensure directors&#8217; conduct reflects
stringent ethical codes, in keeping with applicable standards and according to
core values of the BBVA Group.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Incompatibilities </font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Directors are also subject to the rules on limitations and
incompatibilities established under the applicable regulations at any time<a name="_cp_text_1_662"></a> and, in particular, to the provisions of Spanish Law
10/2014 and Circular 2/2016, of the Bank of Spain, <a name="_cp_text_1_665"></a>for
credit institutions on supervision and solvency. A director of BBVA may not
be a director in companies in which the Group or any of the Group companies
hold a stake, subject to the exceptions set forth below. Non-executive
directors may hold a directorship in the Bank&#8217;s associated companies or in any
other Group company provided the directorship is not related to the Group&#8217;s
holding in such companies. As an exception and when proposed by the Bank,
executive directors are able to hold directorships in companies directly or
indirectly controlled by the Bank with the approval of the Executive Committee,
and in other associated companies with the approval of the Board of Directors.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Directors may not provide professional services to
enterprises competing with the Bank or any of <a name="_cp_text_1_668"></a>the Group
entities, unless they have received express prior authorization from the Board
of Directors or the <a name="_cp_text_1_670"></a>general shareholders&#8217; meeting, as
the case may be, or unless <a name="_cp_text_1_672"></a>such services or activities
<a name="_cp_text_1_674"></a>were provided or performed before they became <a name="_cp_text_1_676"></a>directors of the Bank, <a name="_cp_text_1_678"></a>they do
not involve effective competition <a name="_cp_text_1_679"></a>with the Bank and
<a name="_cp_text_1_681"></a>they were reported to the Bank at <a name="_cp_text_1_683"></a>the time<a name="_cp_text_1_684"></a> of appointment.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Term of Directorships and Director Age Limit</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Directors will stay in office for the term set out in our
Bylaws (three years). If they have been co-opted, they will stay in office
until the first general shareholders&#8217; meeting is held. The general
shareholders&#8217; meeting may then ratify their appointment for the term of office
established under our Bylaws.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA&#8217;s Board of Directors Regulations establishes an age
limit for sitting on the Bank&#8217;s Board. Directors must present their resignation
at the first meeting of the Bank&#8217;s Board of Directors to be held after the
general shareholders&#8217; meeting that approves the accounts for the year in which
they reach the age of seventy-five years.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Appointment and Re-election of Directors </font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The proposals that the Board submits to the Company&#8217;s
general shareholders&#8217; meeting for the appointment or re-election of directors
and the appointments the Board makes directly to cover vacancies, exercising
its powers of co-option will be approved at the proposal of the Appointments
Committee in the case of independent directors, and following a report from
said Committee for all other directors.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In all such cases the proposal must be accompanied by a
report of the Board explaining the grounds on which the Board of Directors has
assessed the competence, experience and merits of the candidate proposed, which
will be attached to the minutes of the general shareholders&#8217; meeting or of the
Board of Directors.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">To such end, the Appointments Committee will evaluate the
balance of skills, knowledge and expertise on the Board of Directors, as well
as the conditions that candidates should display to fill the vacancies arising,
assessing the dedication necessary to be able to suitably perform their duties
in view of the needs that the Company&#8217;s governing bodies may have at any time.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Directors&#8217;
Resignation and Dismissal</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Furthermore, in the following
circumstances, reflected in the Board Regulations, directors must place their
office at the disposal of the Board of Directors and accept its decision
regarding their continuity or non-continuity in office. Should the Board
resolve they do not continue in office, they will be obliged to tender their
resignation:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">when they are affected by circumstances of incompatibility or
prohibition as defined under prevailing legislation, in our Bylaws or in the
Board Regulations;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">when significant changes occur in their professional or personal
situation that may affect the condition by virtue of which they were appointed
to the Board of Directors;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">when they are in serious dereliction of their duties as directors;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">when for reasons attributable to the director in his or her
condition as such, serious damage has been done to the Company&#8217;s net worth,
credit or reputation; or</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">when they lose their suitability to hold the position of director
of the Bank.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Evaluation</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Article 17 of the Board Regulations indicates that the
Board of Directors will assess the quality and efficiency of the Board&#8217;s
operation and will assess the performance of the duties of the Chairman of the
Board (process which will be led by the Lead Director). Such assessment will
always begin with the report submitted by the Appointments Committee. Likewise,
the Board will carry out the evaluation of the operation of its Committees, on
the basis of the report that each Committee submits to the Board of Directors.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Moreover, article 5 of the Board Regulations establishes
that the Chairman, who is responsible for the efficient running of the Board of
Directors, will organize and coordinate the periodic assessment of the Board&#8217;s
performance with the Chairs of the relevant Committees. Pursuant to the
provisions of the Board Regulations, during the evaluation process conducted
for 2018, the Board of Directors evaluated: (i) the quality and efficiency of
the operation of the Board of Directors and the Executive Committee; (ii) the
performance of the different roles of the Board of Directors; and (iii) the
quality and efficiency of the operation of the different Committees of the
Board of Directors.</font></font><font style="border:none;">
&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Board of Directors</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Board of Directors is currently comprised of 15
members.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table sets forth the names of the members of
the Board of Directors as of that date of this Annual Report on Form 20-F,
their date of appointment and, if applicable, re-election, their current
positions and their present principal outside occupation and main employment
history.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr>
  <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Name</font></b></font></p>
   </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Birth Year</font></b></font></p>
   </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Current Position</font></b></font></p>
   </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Date Nominated</font></b></font></p>
   </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Date<br>
   Re-elected</font></b></font></p>
   </td>
 <td valign=bottom width=29% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Present Principal Outside
   Occupation and Employment History<sup>(*)</sup></font></b></font></p>
   </td>
 </tr>
<tr>
  <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Carlos
  Torres Vila</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(1)(6)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1966</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Group
  Executive Chairman</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">May 4,
  2015</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 15,
  2019</font></font></p>
  </td>
 <td valign=top width=29% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Chairman of the Board of
  Directors and Group Executive Chairman of BBVA since </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">December 2018. Chairman of
  the Technology and Cybersecurity Committee. Director of BBVA Bancomer and
  BBVA Bancomer S.A., Instituci&#243;n de Banca M&#250;ltiple, Grupo Financiero BBVA
  Bancomer. Chief Executive Officer of BBVA from May 2015 until his appointment
  as Chairman. He started at BBVA in September 2008 holding senior management
  posts such as Head of Digital Banking from March 2014 to May 2015 and BBVA
  Strategy &amp; Corporate Development Director from January 2009 to March
  2014.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Onur Gen&#231; </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1974</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Chief
  Executive Officer</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">December
  20, 2018</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 15,
  2019</font></font></p>
  </td>
 <td valign=top width=29% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Chief Executive Officer of
  BBVA and member of the Executive Committee since December 2018. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Director of BBVA
  Compass Bancshares, BBVA Bancomer and BBVA Bancomer S.A. Instituci&#243;n de Banca
  M&#250;ltiple, Grupo Financiero BBVA Bancomer. </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Chairman and CEO of BBVA Compass and BBVA&#8217;s Country Manager in
  the USA from 2017 to December 2018. Deputy CEO at Garanti between 2015 and
  2017 and Executive Vice President at Garanti between 2012 and 2015.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Tom&#225;s
  Alfaro Drake</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(4)(6)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1951</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">External
  Director</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 18,
  2006</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 17,
  2017</font></font></p>
  </td>
 <td valign=top width=29% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Director
  of Internal Development and Professor in the Finance department of
  Universidad Francisco de Vitoria.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Jos&#233;
  Miguel Andr&#233;s Torrecillas</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(2)</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(3)(5)(7)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1955</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Independent
  Director</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 13,
  2015</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 16,
  2018</font></font></p>
  </td>
 <td valign=top width=29% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Chairman
  of the Audit and Compliance Committee and of the Appointments Committee.
  Director of Zardoya Otis. Chairman of Ernst &amp; Young Spain from 2004 to
  2014, where he was a partner since 1987 and also held a series of senior
  offices, including Director of the Banking Group from 1989 to 2004 and
  Managing Director of the Audit and Advisory practices at Ernst &amp; Young
  Italy and Portugal from 2008 to 2013.</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>


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</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr>
  <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Jaime F&#233;lix Caruana Lacorte</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">(1)(5)(6)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">1952</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Independent Director</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">March 16, 2018</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Not applicable</font></font></p>
  </td>
 <td width=29% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">General Director
  of the Bank of International Settlements (BIS) between 2009 and 2017. Between
  2006 and 2009 he was Head of the Monetary, Capital Markets Department and
  Financial Counselor and General Manager at the International Monetary Fund
  (IMF), between 2003 and 2006 he was Chair of the Basel&#8217;s Banking Supervision
  Committee, between 2000 and 2006 he was Governor of the Bank of Spain, and
  between 1999 and 2000 he was General Manager of Banking Supervision at the
  Bank of Spain.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Bel&#233;n
  Garijo L&#243;pez</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(2)(3)(4)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1960</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Independent
  Director</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 16,
  2012</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 16,
  2018</font></font></p>
  </td>
 <td valign=top width=29% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Chair of the Remuneration
  Committee. Member of the Executive Board of Merck Group and CEO of Merck
  Healthcare, member of the Board of Directors of L&#8217;Or&#233;al and Chair of the
  International Executive Committee of PhRMA, ISEC (Pharmaceutical Research and
  Manufacturers of America).</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1958</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Executive
  Director</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">May 29,
  2013</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 17,
  2017</font></font></p>
  </td>
 <td valign=top width=29% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Executive Director of BBVA
  since May 2013. Chairman of European DataWarehouse GmbH. Head of BBVA&#8217;s
  Global Economics &amp; Public Affairs Area. Member of the European Central
  Bank (ECB) Governing Council and Executive Committee from 2004 to 2012. </font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Sunir
  Kumar Kapoor</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1963</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Independent
  Director</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 11,
  2016</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 15,
  2019</font></font></p>
  </td>
 <td valign=top width=29% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">President and CEO of UBmatrix
  Inc from 2005 to 2011. Executive Vice President and CMO of Cassatt
  Corporation from 2004 to 2005. Oracle Corporation, Vice President
  Collaboration Suite from 2002 to 2004. Founder and CEO of Tsola Inc from 1999
  to 2001. President and CEO of E-Stamp Corporation from 1996 to 1999. Vice
  President of Strategy, Marketing and Planning of Oracle Corporation from 1994
  to 1996. Currently, he is an independent consultant to various leading
  companies in the technology sector, such as cloud infrastructures or data
  analysis.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Carlos Loring Mart&#237;nez de Irujo</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES-TRAD style="font-size:6.0pt;">(1)(4)(5)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1947</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">External
  Director</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">February
  28, 2004</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 17,
  2017</font></font></p>
  </td>
 <td valign=top width=29% style="padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Partner of J&amp;A Garrigues
  from 1977 to 2004, where he has also held a series of senior offices,
  including Director of M&amp;A Department, Director of Banking and Capital
  Markets Department and member of its Management Committee.</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Lourdes M&#225;iz Carro</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(2)(3)(4)</font></font></p>
  </td>
 <td valign=top width=10% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1959</font></font></p>
  </td>
 <td valign=top width=18% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Independent Director</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 14, 2014</font></font></p>
  </td>
 <td valign=top width=13% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 17, 2017</font></font></p>
  </td>
 <td valign=top width=29% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Secretary of the Board of
  Directors and Director of Legal Services at Iberia, L&#237;neas A&#233;reas de Espa&#241;a
  from 2001 until 2016. Joined the Spanish State Counsel Corps (Cuerpo de
  Abogados del Estado) and from 1992 until 1993 she was Deputy to the Director
  in the Ministry of Public Administration. From 1993 to 2001 held various
  senior positions in the Public Administration.</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:1.0pt;">
  <td valign=top width=15% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Jos&#233;
  Maldonado Ramos</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(1)(3)</font></font></p>
  </td>
 <td valign=top width=10% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1952</font></font></p>
  </td>
 <td valign=top width=18% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">External
  Director</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">January
  28, 2000</font></font></p>
  </td>
 <td valign=top width=13% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 16, 2018</font></font></p>
  </td>
 <td valign=top width=29% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Appointed Director and
  General Secretary of BBVA in January 2000. Took early retirement as Bank
  executive in December 2009.</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Ana Cristina Peralta Moreno</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(2)(4)</font></font></p>
  </td>
 <td valign=top width=10% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1961</font></font></p>
  </td>
 <td valign=top width=18% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Independent Director</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 16, 2018</font></font></p>
  </td>
 <td valign=top width=13% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Not applicable</font></font></p>
  </td>
 <td width=29% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Independent member of the
  Board of Directors of Grenergy Renovables. General Director of Risks and
  Member of the Management Committee of Banco Pastor, between 2008 and 2011.
  Before that, she held several positions at Bankinter, including Chief Risk
  Officer and was a member of the Management Committee between 2004 and 2008.
  She was also an independent member of the Board of Directors of Deutsche Bank
  SAE (2014-2018) and Banco Etcheverr&#237;a (2013-2014).</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Juan Pi
  Llorens</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(2)(5)(6)</font></font></p>
  </td>
 <td valign=top width=10% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1950</font></font></p>
  </td>
 <td valign=top width=18% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Independent
  Director</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">July 27,
  2011</font></font></p>
  </td>
 <td valign=top width=13% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 16,
  2018</font></font></p>
  </td>
 <td valign=top width=29% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Chairman
  of the Risk Committee. Chairman of the Board of Directors of Ecolumber. Had a
  professional career at IBM holding various senior posts at a national and
  international level including Vice President for Sales at IBM Europe, Vice
  President of Technology &amp; Systems Group at IBM Europe and Vice President
  of the Finance Services Sector at GMU (Growth Markets Units) in China. He was
  executive President of IBM Spain.</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Susana
  Rodr&#237;guez Vidarte</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(1)(3)(5)</font></font></p>
  </td>
 <td valign=top width=10% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1955</font></font></p>
  </td>
 <td valign=top width=18% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">External
  Director</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">May 28,
  2002</font></font></p>
  </td>
 <td valign=top width=13% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 17,
  2017</font></font></p>
  </td>
 <td valign=top width=29% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Professor
  of Strategy at the Faculty of Economics and Business Sciences at Universidad
  de Deusto. Doctor in Economic and Business Sciences from Universidad de
  Deusto.</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Jan Paul
  Marie Francis Verplancke</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">(6)</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=10% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">1963</font></font></p>
  </td>
 <td valign=top width=18% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Independent
  Director</font></font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">March 16,
  2018</font></font></p>
  </td>
 <td valign=top width=13% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Not
  applicable</font></font></p>
  </td>
 <td valign=top width=29% style="height:1.0pt;padding:0cm 5.75pt 0cm 5.75pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Director,
  Chief Information Officer, Group Head of Technology and Banking Operations,
  of Standard Chartered Bank, between 2004 and 2015. Before that, he held
  several positions in multinational companies, such as Vice President of
  Technology and Chief Information Officer, in the EMEA region of Dell
  (1999-2004) and Vice President of Information of the Youth Category (USA) of
  Levi Strauss (1998-1999).</font></font></p>
  </td>
 </tr>
</table></div>



<div style="border:none;border-bottom:solid #00000A 1.0pt;margin-left:0cm;margin-right:396.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">

<p style="border:none;margin:0cm;margin-bottom:2.5pt;padding:0cm;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>

</div>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(*)&#160;&#160; Where no date is provided, the
position is currently held. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><a name=move5081843201></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; Member of
the Executive Committee. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)&#160;&#160; Member of the Audit and Compliance
Committee. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#160;&#160; Member of the Appointments Committee.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(4)&#160;&#160; Member of the Remuneration Committee.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(5)&#160;&#160; Member of the Risk Committee.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(6)&#160;&#160; Member of the Technology and
Cybersecurity Committee.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(7)&#160;&#160; Lead Director.</font></font><a name="move5081843201_bclEnd"></a><font style="border:none;">
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><a name=bcl_connect_prev></a><!-- Do not modify before this point! !--><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Senior Management</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our
senior managers were each appointed for an indefinite term. Their positions as
of the date of this Annual Report on Form 20-F are as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:7.2pt;width:100%;">
 <tr>
  <td valign=bottom width=30% style="border:none;border-bottom:solid #00000A 1.0pt;padding:0cm 0cm 0cm 7.2pt;">
   <p style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:8.0pt;">Name</font></b></font></p>
   </td>
 <td valign=bottom width=33% style="border:none;border-bottom:solid #00000A 1.0pt;padding:0cm 0cm 0cm 7.2pt;">
   <p style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:8.0pt;">Current Position</font></b></font></p>
   </td>
 <td valign=bottom width=37% style="border:none;border-bottom:solid #00000A 1.0pt;padding:0cm 0cm 0cm 7.2pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:8.0pt;">Present Principal
   Outside Occupation and Employment History(*)</font></b></font></p>
   </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Carlos Torres Vila</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Group Executive Chairman</font></font></p>
  </td>
 <td valign=top width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Chairman
  of the Board of Directors and Group Executive Chairman of BBVA since </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">December 2018. Chairman of
  the Technology and Cybersecurity Committee. Director of BBVA Bancomer and
  BBVA Bancomer S.A., Instituci&#243;n de Banca M&#250;ltiple, Grupo Financiero BBVA
  Bancomer. Chief Executive Officer of BBVA from May 2015 until his appointment
  as Chairman. He started at BBVA in September 2008 holding senior management
  posts such as Head of Digital Banking from March 2014 to May 2015 and BBVA
  Strategy &amp; Corporate Development Director from January 2009 to March
  2014.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Onur Gen&#231;</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Chief Executive Officer</font></font></p>
  </td>
 <td valign=top width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Chief Executive Officer of
  BBVA and member of the Executive Committee since December 2018. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Director of BBVA
  Compass Bancshares, BBVA Bancomer and BBVA Bancomer S.A. Instituci&#243;n de Banca
  M&#250;ltiple, Grupo Financiero BBVA Bancomer. </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Chairman and CEO of BBVA Compass and BBVA&#8217;s Country Manager in
  the USA from 2017 to December 2018. Deputy CEO at Garanti between 2015 and
  2017 and Executive Vice President at Garanti between 2012 and 2015.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Jos&#233;
  Manuel Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Global Economics &amp; Public
  Affairs</font></font></p>
  </td>
 <td valign=top width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Executive
  Director of BBVA since May 2013. Chairman of European DataWarehouse GmbH.
  Head of BBVA&#8217;s Global Economics &amp; Public Affairs Area. Member of the
  European Central Bank (ECB) Governing Council and Executive Committee from
  2004 to 2012. </font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Eduardo Arbizu Lostao</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Regulation &amp; Internal Control</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of the
  Supervisors, Regulation &amp; Compliance Area since December 2018, which in
  March 2019 integrated the non-financial risks and internal risk control
  areas, therefore changing its name to Regulation &amp; Internal Control. Head
  of Legal &amp; Compliance area of BBVA from 2002 to December 2018; Chief
  Executive Officer and Managing Director of Retail Operations in Continental
  Europe (France, Spain, Portugal, Italy and Greece) from 1997 to 2002 at
  Barclays.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Domingo Armengol Calvo</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">General Secretary</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">General
  Secretary of BBVA since 2009. Deputy Secretary of the Board from 2005 to 2009
  and Head of the Institutional Legal Department of BBVA from 2000 to 2009. </font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Mar&#237;a
  Jes&#250;s Arribas de Paz</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Legal</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Legal
  since December 2018. Director of BBVA OP3N. She held the position of Head of
  Corporate Legal Services between 2002 and 2018. Before that, she was head of
  Legal services and board secretary at Finanzia Banco de Cr&#233;dito S.A.
  (1996-2002).</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Carlos Casas Moreno</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Talent &amp; Culture</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Talent
  &amp; Culture since December 2018. He was Head of Compensation, Benefits
  &amp; Key Roles from 2016 to December 2018, and was responsible for
  Organization Matters and Global Talent Management Policies in the Talent
  &amp; Culture area between 2015 and 2016. He worked at McKinsey &amp; Company
  between 2000 and 2010, where he was an Associated Partner prior to leaving.</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.9pt;width:100%;">
 <tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Victoria del Castillo
  Marchese</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Strategy &amp; M&amp;A</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Strategy
  &amp; M&amp;A since December 2018. Before that she held several relevant
  positions within the BBVA Group, such as Head of M&amp;A for Europe and
  Turkey (2014 to December 2018), Director of Strategic Projects of the Finance
  Area (2009 to 2014) and Head of M&amp;A for the USA (2006 to 2009).</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Ricardo Forcano Garc&#237;a</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Engineering &amp; Organization</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of
  Engineering &amp; Organization since December 2018. Head of Talent &amp;
  Culture from July 2016 to December 2018. Previously, he held other posts at
  BBVA such as Head of Business Development of Growth Markets from 2015 to
  2016, Head of Strategy and Finance &#8211; Digital Banking from 2014 to 2015,
  Director of Corporate Strategy from 2012 to 2014 and Head of New Business
  Models from 2011 to 2012. Prior to joining BBVA he was Deputy Director of
  Corporate Strategy of Endesa from 2003 to 2007.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Mar&#237;a Luisa G&#243;mez
  Bravo</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Corporate &amp; Investment
  Banking</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Corporate &amp; Investment Banking</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;"> since December 2018. She has held
  several relevant positions within the BBVA Group such as Head of Investment
  &amp; Cost Management (between 2017 and December 2018), Head of Investors
  &amp; Shareholders Relations (between 2014 and 2017), Head of Transformation
  &amp; Operations at BBVA Spain and Portugal (between 2012 and 2014), and Head
  of Asset Management (between 2008 and 2012), among others.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Joaqu&#237;n Manuel Gortari
  D&#237;ez</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Internal Audit</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Internal
  Audit since December 2018. Before that he held several relevant positions
  within the BBVA Group, such as Chief of Staff to the Chairman (from 2010 to
  2018), CFO in the Area of Technology and Operations (from 2008 to 2010), CFO
  of BBVA in the USA (from 2004 to 2008) and Deputy CFO of BBVA (from 2003 to
  2004).</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Eduardo Osuna Osuna</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Mexico Country Manager</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Mexico Country
  Manager since May 2015 and General Manager of BBVA Bancomer. Previously he
  was Head of Government and Corporate Banking of BBVA Bancomer from 2012 to
  2015 and Head of Commercial Banking of BBVA Bancomer from 2010 to 2012. </font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Cristina de Parias
  Halc&#243;n</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Spain Country Manager </font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Spain Country
  Manager since May 2015. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Director of BBVA Seguros, S.A. Compa&#241;&#237;a de Seguros y Reaseguros.
  </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Spain and Portugal
  from 2014 to 2015 and Head of the Central Area in Spain from 2011 to 2014.
  She joined BBVA in 1998 and has held positions in digital business
  development, payment systems, Uno-e and consumer finance from 1998 to 2011.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">David Puente Vicente</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Data</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Data
  since March 2017 and Director of&#160; BBVA Seguros, S.A., Compa&#241;&#237;a de Seguros y
  Reaseguros and of BBVA Data &amp; Analytics. Previously, he was Head of
  Business Development Spain since May 2015. Previously, he held others posts
  at BBVA such as Head of CEO&#8217;s Office from 2009 to 2012 and Head of New
  Business Models from 2004 to 2006. He was Senior Associate at Mckinsey &amp;
  Company from 2002 to 2004.</font></font></p>
  </td>
 </tr>
</table></div>



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</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.9pt;width:100%;">
 <tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Jaime S&#225;enz de Tejada Pulido</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Chief Financial Officer</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of the
  Finance &amp; Accounting Area </font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">since December 2018. Director of Garanti. Head of Finance from May 2015
  to December 2018. Head of Strategy and Finance from 2014 to 2015 and Head of
  Spain and Portugal from 2012 to 2014. Business Development Manager of Spain
  and Portugal at BBVA from 2011 to 2012. Central Area Manager of Madrid and
  Castilla La Mancha from 2007 to 2010.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Jorge S&#225;enz-Azc&#250;naga
  Carranza</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Country Monitoring</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Country
  Monitoring since July 2016. Director of BBVA Bancomer, S.A., Instituci&#243;n de
  Banca M&#250;ltiple, of BBVA Bancomer and of BBVA Compass Bancshares, and Vice
  President of Garanti. He joined BBVA in 1993 and he has held various senior
  posts such as Country Networks - Head of Business Monitoring Spain, USA and
  Turkey from 2015 to 2016, Head of Strategy and Planning, Spain &amp; Portugal
  from 2008 to 2013 and Head of CEO Office from 2002 to 2005.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Rafael
  Salinas Mart&#237;nez de Lecea</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Global Risk Management</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Global
  Risk Management since May 2015 and Director of Garanti. Prior to this post,
  he was Head of Risk and Portfolio Management from 2006 to 2015 and CFO of
  Banco de Cr&#233;dito Local de Espa&#241;a from 2003 to 2005.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Derek Jensen White</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Client Solutions</font></font></p>
  </td>
 <td valign=bottom width=37% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">Head of Client
  Solutions since 2016. Director of 4D Internet Solutions and of Dallas
  Creation Center. Prior to joining BBVA he held various senior posts at
  Barclays such as Chief Design &amp; Digital Officer from 2013 to 2016 and
  Chief Customer Experience Officer, Global Retail &amp; Business Banking from
  2011 to 2013.</font></font></p>
  </td>
 </tr>
</table></div>



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<p style="border:none;margin:0cm;margin-bottom:4.5pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(*)&#160;&#160; Where no date is provided, positions
are currently held.</font></font><font style="border:none;">
&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">B</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&#160;&#160; </font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Compensation</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The provisions of BBVA&#8217;s Bylaws that relate to compensation
of directors are in accordance with the relevant provisions of Spanish law.
Furthermore, BBVA has a remuneration policy for BBVA directors (the &#8220;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Directors&#8217; Remuneration Policy</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), which is aligned with the specific regulations
applicable to credit institutions and best market practices.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Directors&#8217; Remuneration Policy</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Directors&#8217; Remuneration Policy for 2017, 2018 and 2019
was approved by the general shareholders&#8217; meeting held on March 17, 2017, by a
majority of 96.54%. This policy is available at our website (www.bbva.com).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA has defined its Directors&#8217; Remuneration Policy on the
basis of the general principles of the Group&#8217;s remuneration policy, taking into
consideration compliance with legal requirements applicable to credit
institutions and those applicable in the different sectors in which it
operates, as well as alignment with best market practices, while including
items devised to reduce exposure to excessive risks and to adjust remuneration
to the targets, values and long-term interests of the Group.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On the basis of the principles of
the Group&#8217;s remuneration policy, and pursuant to the statutory requirements
established by applicable regulations, BBVA has devised a specific incentives
system for staff whose professional activities have a significant impact on the
Group&#8217;s risk profile (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Identified Staff</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), which includes BBVA
executive directors and BBVA Senior Management, that is aligned with the
regulations and recommendations applicable to the remuneration schemes of this
staff. The result is a remuneration scheme based, inter alia, on the following
basic characteristics applicable to executive directors and Senior Management:</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Adequate
balance between the fixed and variable components of total remuneration, in
line with applicable regulations, designed to provide flexibility with regard
to payment and amounts of the variable components, allowing for such components
to be reduced, in part or in full, where appropriate. The proportion between
the two components is established in accordance with the type of functions
carried out by each beneficiary.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">The variable remuneration shall be based on effective risk
management and linked to the level of achievement of financial and
non-financial targets previously established and defined at the Group, area and
individual level, that take into account present and future risks assumed and
the Group&#8217;s long-term interests.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">The variable remuneration for each year will not accrue, or will
accrue in a reduced amount, should a certain level of profit and capital ratio
not be achieved, and it shall be subject to </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">ex ante</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;"> adjustments, so that
it shall be reduced at the time of the performance assessment in the event of a
downturn in the Group&#8217;s results or other parameters such as the level of
achievement of budgeted targets. </font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">The annual variable remuneration shall be calculated on the basis
of: (i) annual performance indicators (financial and non-financial); (ii)
scales of achievement, as per the weightings allocated to each indicator; and
(iii) a target annual variable remuneration, representing the amount of annual
variable remuneration if 100% of the pre-established targets are met. The
resulting amount shall constitute the annual variable remuneration of each
beneficiary. </font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">The annual variable remuneration shall be subject to a specific
settlement and payment system, which includes the following rules as regards
executive directors: </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:42.5pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-&#160;&#160;&#160;&#160;
60% of the annual variable remuneration shall be deferred over a period of five
years.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:42.5pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-&#160;&#160;&#160;&#160;
The upfront portion of the annual variable remuneration shall be paid 50% in
cash and 50% in BBVA shares, whereas the deferred portion shall be paid 60% in
BBVA shares and 40% in cash.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:42.5pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-&#160;&#160;&#160;&#160;
Shares vested as annual variable remuneration shall be withheld for a one-year
lock-up period after delivery, except for the transfer of those shares required
to honor the payment of taxes.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:42.5pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-&#160;&#160;&#160;&#160; The deferred component of annual variable
remuneration may be reduced, in part or in full, but never increased, based on
the result of multi-year performance indicators aligned with the Group&#8217;s core
risk management and control metrics, related to the solvency, capital,
liquidity, funding or profitability, or to the share performance and recurring
results of the Group, measured over a period of three years.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:42.5pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-&#160;&#160;&#160;&#160;
The deferred component of annual variable remuneration, subject to the
multi-year performance indicators, shall be delivered, if conditions are met,
under the following schedule: 60% after the third year of deferral, 20% after
the fourth year of deferral and 20% after the fifth year of deferral.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:42.5pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-&#160;&#160;&#160;&#160;
Resulting cash portions of the deferred annual variable remuneration to be
vested, after assessment of multi-year performance indicators, shall be updated
according to the criteria established by the Board of Directors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:42.5pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-&#160;&#160;&#160;&#160;
No personal hedging strategies or insurance may be used in connection with
remuneration or liability that may undermine the effects of alignment with
sound risk management.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:42.5pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-&#160;&#160;&#160;&#160;
The variable component of remuneration for a year shall be limited to a maximum
amount of 100% of the fixed component of total remuneration, unless the general
shareholders&#8217; meeting resolves to increase this percentage up to a maximum of
200%.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:42.5pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-&#160;&#160;&#160;&#160;
The entire annual variable remuneration shall be subject to &#8220;malus&#8221; and &#8220;clawback&#8221;
arrangements during the whole deferral and lock-up period, in the same terms as
for the rest of the Identified Staff, as follows:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:42.55pt;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Up to 100% of the annual variable remuneration of each executive
director corresponding to each year shall be subject to &#8220;malus&#8221; and &#8220;clawback&#8221;
arrangements, both linked to a downturn in financial performance of the Bank as
a whole, or of a specific unit or area, or of exposures generated by such
executive director, when such downturn in financial performance arises from any
of the following circumstances:</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:63.8pt;margin-right:0cm;margin-top:0cm;text-indent:-21.25pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">a)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">misconduct, fraud or serious infringement of the Code of Conduct
and other applicable internal rules by such executive director;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:63.8pt;margin-right:0cm;margin-top:0cm;text-indent:-21.25pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">regulatory sanctions or judicial convictions due to events that
could be attributed to such executive director;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:63.8pt;margin-right:0cm;margin-top:0cm;text-indent:-21.25pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">c)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">significant failure of risk management committed by the Bank or by
a business or risk control unit, to which the willful misconduct or gross
negligence of such executive director contributed; or</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:63.8pt;margin-right:0cm;margin-top:0cm;text-indent:-21.25pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">d)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">restatement of the Bank&#8217;s annual accounts, except where such
restatement is due to a change in applicable accounting legislation.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">For these purposes, the Bank will compare the performance
assessment carried out for the relevant executive director with the </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">ex post</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">
evolution of some of the criteria that contributed to achieve the targets. Both
&#8220;malus&#8221; and &#8220;clawback&#8221; will apply to the annual variable remuneration of the
year in which the event giving rise to application of the &#8220;malus&#8221; and/or
&#8220;clawback&#8221; arrangements occurred, and they may be applied during the entire
deferral and lock-up period applicable to the annual variable remuneration.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Notwithstanding the foregoing, in the event that these scenarios
give rise to a dismissal or termination of contract of the executive director
due to serious and guilty breach of duties, malus arrangements may apply to the
entire deferred annual variable remuneration pending payment at the date of the
dismissal or termination of contract, in light of the extent of the damage
caused.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">In any case, the variable remuneration will be paid or vest only
if it is sustainable considering the situation of the BBVA Group as a whole,
and if justified on the basis of the Bank&#8217;s results, the business unit and of
the executive director concerned.</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">211</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_217"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:18.0pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Additionally, upon vesting of
the shares, executive directors will not be allowed to transfer a number of
shares equivalent to twice their annual fixed remuneration for at least three
years after their delivery. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As regards non-executive directors, their remuneration
system, in accordance with the Bank&#8217;s Bylaws and Directors&#8217; Remuneration
Policy, is based on the criteria of responsibility, dedication and
incompatibilities inherent to their role, and consists entirely of fixed
remuneration. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">During 2019, following a proposal of the Remuneration
Committee, the Board of Directors decided to submit to the general
shareholders&#8217; meeting an update of the Remuneration Policy for BBVA Directors
approved in 2017, which will be applicable for 2019, 2020 and 2021. The new
Remuneration Policy maintains the same remuneration scheme as established in
the policy approved in 2017 (which has been explained above) and introduces
certain adjustments in the contractual conditions of the new Group Executive
Chairman and Chief Executive Officer (CEO) as a result of their new roles and
functions, as well as some technical improvements. This update is aimed at
providing shareholders and the market with the utmost transparency and clarity
about the Bank&#8217;s remuneration scheme for directors. This Directors&#8217;
Remuneration Policy was approved by the general shareholders&#8217; meeting held on
March 15, 2019, by a majority of 95.03%. This policy is available at our
website (www.bbva.com).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Remuneration for non-executive directors received in 2018</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Remuneration paid to the non-executive members of the Board
of Directors during 2018 is indicated below, individually and itemized for each
non-executive director. The table shows the non-executive members of the Board
of Directors as of December 31, 2018.</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:32.85pt;">
  <td width=21% style="height:32.85pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="height:32.85pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0pt;margin-top:1.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Board of Directors</font></b></font></p>
  </td>
 <td width=9% style="height:32.85pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0pt;margin-right:0pt;margin-top:1.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Executive
  Committee</font></b></font></p>
  </td>
 <td colspan=2 width=10% style="height:32.85pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0pt;margin-right:0pt;margin-top:1.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Audit and
  Compliance Committee</font></b></font></p>
  </td>
 <td width=9% style="height:32.85pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0pt;margin-right:0pt;margin-top:1.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Risk
  Committee</font></b></font></p>
  </td>
 <td width=12% style="height:32.85pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0pt;margin-top:1.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Remuneration
  Committee</font></b></font></p>
  </td>
 <td width=12% style="height:32.85pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Appointments
  Committee </font></b></font></p>
  </td>
 <td valign=top width=12% style="height:32.85pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Technology and
  Cybersecurity Committee</font></b></font></p>
  </td>
 <td width=7% style="height:32.85pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=21% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Tom&#225;s Alfaro Drake</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">18</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">25</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">258</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=21% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Jos&#233; Miguel Andr&#233;s Torrecillas </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">179</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">71</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">485</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=21% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Jaime F&#233;lix Caruana Lacorte (1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">75</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">83</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">53</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">25</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">237</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=21% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Bel&#233;n Garijo L&#243;pez</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">71</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">20</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">328</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=21% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Sunir Kumar Kapoor </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">172</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=21% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Carlos Loring Mart&#237;nez de Irujo</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">167</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">445</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=21% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Lourdes M&#225;iz Carro</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">71</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">41</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">284</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=21% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Jos&#233; Maldonado Ramos</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">167</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">53</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">41</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">390</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=21% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Ana Peralta Moreno (1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">86</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">36</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">21</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">143</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=21% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Juan Pi Llorens</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">71</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">214</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">457</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=21% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Susana Rodr&#237;guez Vidarte </font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">167</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">41</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">443</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=21% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Jan Verplancke (1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">107</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">132</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=bottom width=21% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Total </font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">(2)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border-bottom:double windowtext 2pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">1,427</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=10% style="border-bottom:double windowtext 2pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">584</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border-bottom:double windowtext 2pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">446</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border-bottom:double windowtext 2pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">642</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border-bottom:double windowtext 2pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">257</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border-bottom:double windowtext 2pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">239</font></font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">179</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border-bottom:double windowtext 2pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">3,773</font></font></p>
  </td>
 </tr>
<tr height=0>
  <td width=21% style="border:none;">&nbsp;</td>
 <td width=8% style="border:none;">&nbsp;</td>
 <td width=9% style="border:none;">&nbsp;</td>
 <td width=1% style="border:none;">&nbsp;</td>
 <td width=9% style="border:none;">&nbsp;</td>
 <td width=9% style="border:none;">&nbsp;</td>
 <td width=12% style="border:none;">&nbsp;</td>
 <td width=12% style="border:none;">&nbsp;</td>
 <td width=12% style="border:none;">&nbsp;</td>
 <td width=7% style="border:none;">&nbsp;</td>
 </tr>
</table>


</div>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Directors appointed by the general
shareholders&#8217; meeting held on March 16, 2018. This includes remuneration paid
for membership on Board Committees in 2018. The composition of these Committees
was modified on June 27, 2018. Remuneration was paid in accordance with the
date of acceptance of the relevant appointment.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">In addition, Jos&#233;
Antonio Fern&#225;ndez Rivero, who stepped down as director on March 16, 2018,
received a total of &#8364;95 thousand in 2018, for his membership on the Board and
Board Committees.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Also, during 2018, &#8364;107 thousand was paid in healthcare and
casualty insurance premiums for non-executive members of the Board of
Directors.</font></font><font style="border:none;">
&nbsp;</font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">212</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Remuneration for executive directors received in 2018</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">During 2018, the executive directors received the amount of
the annual fixed remuneration corresponding to that year, established in the
Directors&#8217; Remuneration Policy applicable in 2018, which was approved by the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">general shareholders&#8217; meeting</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> held on March 17, 2017.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, the executive directors received the annual
variable remuneration corresponding to 2017 which payment vested during the
first quarter of 2018, in accordance with the settlement and payment system
established in said Directors&#8217; Remuneration Policy.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with that settlement
and payment system:</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">40% of the 2017 annual variable remuneration for executive
directors was paid in 2018, with the applicable conditions having been met
(hereinafter, the &#8220;Upfront Portion&#8221;), 50% in cash and 50% in shares. </font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">The remaining 60% of the annual variable remuneration, both in
cash and in shares, has been deferred in its entirety for a period of five
years, and its accrual and payment will be subject to compliance with a series
of multi-year indicators (hereinafter, the &#8220;Deferred Portion&#8221;). The application
of these indicators, calculated over the first three years of deferral, may
lead to a reduction of the Deferred Portion, even in its entirety, but in no
event will the Deferred Portion be increased. Provided that the relevant
conditions have been met, the resulting amount will then be paid (40% in cash
and 60% in shares), according to the following schedule: 60% in 2021, 20% in
2022 and the remaining 20% in 2023.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">All of the shares delivered to the executive directors as annual
variable remuneration, including both the Upfront Portion and the Deferred
Portion, will be withheld for a period of one year after delivery, except for
shares transferred to honor the payment of taxes accruing on the shares
received.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Deferred Portion of the annual variable remuneration in cash
will be subject to updating under the terms established by the Board of
Directors.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Executive directors may not use personal hedging strategies or
insurance in connection with their remuneration and/or responsibility if such
personal hedging strategies or insurance may undermine their incentives to
align with prudent risk management.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">The variable component of the remuneration for executive directors
corresponding to 2017 is limited to a maximum amount of 200% of the fixed
component of the total remuneration, as agreed by the general shareholders&#8217;
meeting.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Over the entire deferral and withholding period, the entire annual
variable remuneration for the executive directors will be subject to reduction
and recovery (&#8220;malus&#8221; and &#8220;clawback&#8221;) arrangements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Additionally, upon receipt of the shares, executive
directors will not be allowed to transfer a number of shares equivalent to
twice their annual fixed remuneration for at least three years after their
delivery.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Similarly, in application of the settlement and payment
system applicable to the annual variable remuneration for 2014, pursuant to the
remuneration policy applicable at that time, the executive directors received
in 2018 the last third of the deferred annual variable remuneration for 2014,
thus concluding payment of the deferred variable remuneration for 2014.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with the above, the remunerations paid to
executive directors during 2018 are indicated below, individually and itemized:</font></font></p>

<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">213</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_219"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.15pt;">
  <td colspan=2 nowrap width=100% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Annual
  fixed remuneration (thousands of euro), received in 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.55pt;">
  <td valign=bottom width=75% style="background:white;border:none;border-bottom:solid windowtext 1.0pt;height:13.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Carlos Torres Vila </font></font></p>
  </td>
 <td nowrap valign=bottom width=25% style="background:white;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:13.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,965</font></font></p>
  </td>
 </tr>
<tr style="height:18.4pt;">
  <td width=75% style="background:white;border:none;border-bottom:double windowtext 2pt;height:18.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo
  Mart&#237;nez-Murillo</font></font></p>
  </td>
 <td nowrap width=25% style="background:white;border-bottom:double windowtext 2pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:18.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">834</font></font></p>
  </td>
 </tr>
<tr style="height:13.8pt;">
  <td nowrap width=75% style="border:none;border-bottom:solid white 1.0pt;height:13.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=25% style="border:none;border-bottom:solid white 1.0pt;height:13.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2,799</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.55pt;">
  <td colspan=3 nowrap width=100% style="border:none;border-bottom:solid windowtext 1.0pt;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Variable remuneration for 2017, received
  in 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.95pt;">
  <td width=58% style="border-bottom:solid black 1.0pt;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;height:15.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=27% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:15.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">In cash (1)</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:11.0pt;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">(thousands
  of euros)</font></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:15.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">In shares (1)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;">&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.55pt;">
  <td valign=bottom width=58% style="background:white;border:none;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Carlos Torres Vila</font></font></p>
  </td>
 <td nowrap width=27% style="background:white;border:none;border-right:solid white 1.0pt;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">562</font></font></p>
  </td>
 <td nowrap width=15% style="background:white;border:none;border-right:solid white 1.0pt;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">77,493</font></font></p>
  </td>
 </tr>
<tr style="height:16.2pt;">
  <td width=58% style="background:white;border:none;border-bottom:double windowtext 2pt;height:16.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo
  Mart&#237;nez-Murillo</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;"> &nbsp;</font></font></p>
  </td>
 <td nowrap width=27% style="background:white;border-bottom:double windowtext 2pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:16.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">87</font></font></p>
  </td>
 <td nowrap width=15% style="background:white;border-bottom:double windowtext 2pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:16.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">12,029</font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td nowrap width=58% style="border:none;border-bottom:solid white 1.0pt;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=27% style="border:none;border-bottom:solid white 1.0pt;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">649</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid white 1.0pt;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">89,522</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(1)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">Remuneration corresponding
to the Upfront Portion (40%) of the annual variable remuneration for 2017, 50%
in cash and 50% in shares.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.55pt;">
  <td colspan=4 nowrap width=100% style="border:none;border-bottom:solid windowtext 1.0pt;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Deferred variable remuneration for 2014,
  received in 2018</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:11.0pt;"> &nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.85pt;">
  <td width=58% style="border-bottom:solid black 1.0pt;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;height:17.85pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=29% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:17.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">In cash (1) (thousands
  of euro)</font></font></p>
  </td>
 <td width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:17.85pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">In shares (1)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;"> &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.55pt;">
  <td valign=bottom width=58% style="background:white;border:none;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Carlos Torres Vila</font></font></p>
  </td>
 <td nowrap width=27% style="background:white;border:none;border-right:solid white 1.0pt;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">105</font></font></p>
  </td>
 <td colspan=2 nowrap width=15% style="background:white;border:none;border-right:solid white 1.0pt;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">11,766</font></font></p>
  </td>
 </tr>
<tr style="height:16.2pt;">
  <td width=58% style="background:white;border:none;border-bottom:double windowtext 2pt;height:16.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo
  Mart&#237;nez-Murillo</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;"> &nbsp;</font></font></p>
  </td>
 <td nowrap width=27% style="background:white;border-bottom:double windowtext 2pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:16.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">33</font></font></p>
  </td>
 <td colspan=2 nowrap width=15% style="background:white;border-bottom:double windowtext 2pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:16.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3,678</font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td nowrap width=58% style="border:none;border-bottom:solid white 1.0pt;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;"> &nbsp;</font></font></p>
  </td>
 <td nowrap width=27% style="border:none;border-bottom:solid white 1.0pt;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">137</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=15% style="border:none;border-bottom:solid white 1.0pt;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">15,444</font></b></font></p>
  </td>
 </tr>
<tr height=0>
  <td width=58% style="border:none;">&nbsp;</td>
 <td width=27% style="border:none;">&nbsp;</td>
 <td width=2% style="border:none;">&nbsp;</td>
 <td width=13% style="border:none;">&nbsp;</td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">(1)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;line-height:115%;">Remuneration corresponding
to the last third of the Deferred Portion of the annual variable remuneration
for 2014, 50% in cash and 50% in shares, along with its update in cash.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">During 2018, the executive directors also received
remuneration in kind, including insurance premiums and others, amounting to a
total of &#8364;236 thousand, of which &#8364;154 thousand related to payments on behalf of
Carlos Torres Vila and &#8364;82 thousand of which related to payments on behalf of
Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Former Group Executive Chairman, Francisco Gonz&#225;lez
Rodr&#237;guez, who stepped down from this position on December 21, 2018, received
in 2018: &#8364;2,475 thousand as annual fixed remuneration; &#8364;660 thousand and 90,933
BBVA shares corresponding to the Upfront Portion (40%) of the annual variable
remuneration for 2017; and &#8364;332 thousand and 37,390 BBVA shares as settlement
of the last third of the Deferred Portion of variable remuneration for 2014,
including the corresponding update; as well as &#8364;20 thousand in remuneration in
kind.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CEO Onur Gen&#231;, who was appointed by BBVA&#8217;s Board of
Directors on December 20, 2018, did not receive any remuneration for his
current role in 2018, having received fixed and variable remuneration in
accordance with his previous position as President and CEO of BBVA Compass.
This remuneration is subject to the settlement and payment system applicable to
his former position. Thus, over the course of 2018, he received &#8364;2,240 thousand
as annual fixed remuneration; &#8364;191 thousand and 26,531 BBVA ADSs corresponding
to the Upfront Portion (40%) of the annual variable remuneration for 2017; and
&#8364;376 thousand as remuneration in kind, which includes certain benefits for his
expatriate status in the United States. In each case, cash remuneration was
paid in U.S. dollars.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">214</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:17.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Annual variable
remuneration for executive directors for 2018</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Following year-end, the annual
variable remuneration for executive directors for 2018 was determined, applying
the conditions established at the beginning of the year, as set forth in the
Directors&#8217; Remuneration Policy approved by the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">general
shareholders&#8217; meeting </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">on March 17, 2017. This
remuneration has the following settlement and payment schedule:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Upfront Portion (40%) of the annual
variable remuneration of the executive directors for 2018 is to be paid, if
conditions are met, in equal parts in cash and shares. These amounts to &#8364;479
thousand and 100,436 BBVA shares in the case of Carlos Torres Vila; and &#8364;79
thousand and 16,641 BBVA shares in the case of Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo
Mart&#237;nez-Murillo.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Deferred Portion (60%) is deferred
for a five-year period, subject to compliance with the multi-year performance
indicators determined by the Board of Directors at the start of 2018,
calculated over the first three-year deferral period. Provided that the
relevant conditions are met, the resulting amount will vest (40% in cash and
60% in shares), under the following schedule: 60% after the third year of
deferral, 20% after the fourth year of deferral and the remaining 20% after the
fifth year of deferral.</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> In accordance with the
aforementioned, the maximum amount corresponding to the total deferred
component that could be received by executive directors is as follows: &#8364;574
thousand and 180,785 BBVA shares in the case of Carlos Torres Vila and &#8364;95
thousand and 29,954 BBVA shares in the case of Jos&#233; Manuel Gonz&#225;lez-</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">P&#225;ramo Mart&#237;nez-Murillo. All the above is subject to the
settlement and payment system conditions set out in the Directors&#8217; Remuneration
Policy, which includes &#8220;malus&#8221; and &#8220;clawback&#8221; arrangements and lock-up periods
for the shares.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As regards former Group Executive Chairman, Francisco
Gonz&#225;lez Rodr&#237;guez, his annual variable remuneration for 2018 was determined.
This annual variable remuneration for 2018 is to be paid, if applicable
conditions are met, in accordance with the settlement and payment system
applicable to executive directors which includes deferral rules, &#8220;malus&#8221; and
&#8220;clawback&#8221; arrangements and lock-up periods for the shares. Thus, the Upfront
Portion (40%) was determined to amount to &#8364;528 thousand and 110,814 BBVA
shares. Accrual and payment of the Deferred Portion (60%), 40% in cash and 60%
in shares, will be subject to compliance with multi-year performance indicators
approved by the Board of Directors. In accordance with the aforementioned, the
maximum amount corresponding to the total deferred component that could be
received by Francisco Gonz&#225;lez Rodr&#237;guez is &#8364;634 thousand and 199,468 BBVA
shares.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As regards CEO Onur Gen&#231; and as aforementioned, his annual
variable remuneration for 2018 is linked to his previous position as President
and CEO of BBVA Compass and has been determined in accordance with the
settlement and payment system applicable for such position. Thus, if applicable
conditions are met, 40% of the annual variable remuneration for 2018 is to be
paid, amounting to a total of &#8364;196 thousand (to be paid in U.S. dollars) and
41,267 BBVA shares. Accrual and payment of the remaining 60% of the annual
variable remuneration for 2018, 50% in cash and 50% in shares, will be deferred
for a three-year period and will be subject to compliance with multi-year
performance indicators set by the Board of Directors for the whole Identified
Staff at the beginning of 2018 and measured over the course of the three-year
period.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Deferred annual variable
remuneration of executive directors for 2015</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Following year-end, the deferred annual variable
remuneration of executive directors for 2015 was determined, with delivery to
occur, if applicable conditions are met, subject to the conditions established
for this purpose in the Remuneration Policy for BBVA Directors approved by the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">general shareholders&#8217; meeting </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">on March 13, 2015.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">215</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Thus, based on the result of
each of the multi-year performance indicators set by the Board in 2015 to
calculate the deferred portion of this remuneration, and in application of the
corresponding scales of achievement and their corresponding targets and
weightings likewise approved by the Board, the deferred portion of the annual
variable remuneration for 2015 was adjusted downwards in light of the result of
the total shareholder return (TSR) indicator, which scale led to a 10%
reduction in the deferred amount associated to this indicator. The final amount
of the deferred portion of the annual variable remuneration for 2015, after the
corresponding adjustment in light of the result of the TSR indicator, was
determined in an amount of &#8364;612 thousand and 79,157 BBVA shares, in the case of
Carlos Torres Vila, and &#8364;113 thousand and 14,667 BBVA shares in the case of
Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo, which includes the corresponding
update.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As regards the former Group Executive Chairman, Francisco
Gonz&#225;lez Rodr&#237;guez, his deferred annual variable remuneration for 2015 was
determined to amount to a total of &#8364;1,035 thousand and 133,947 BBVA shares,
which includes the corresponding update, to be received, if applicable
conditions are met, in accordance with the settlement and payment system
applicable to executive directors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Last, in accordance with the conditions established in the
remuneration policies applicable to the corresponding years, 50% and 60% of the
annual variable remuneration of the executive directors for 2016 and 2017,
respectively, was deferred, to be received in future years, if applicable
conditions are met.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The remaining rules applicable to the settlement and
payment of 2018 annual variable remuneration have been detailed under the
subheading &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Directors&#8217; Remuneration Policy</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; above.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Remuneration for Senior Management received in 2018</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The members of Senior Management, excluding executive
directors, who held their positions when the Bank approved organizational
changes on December 20, 2018 (15 members) have, over the course of 2018,
received the amount of the fixed remuneration for 2018 and the annual variable
remuneration for 2017, which, in accordance with the settlement and payment
system set out in the remuneration policy applicable to Senior Management in
2017, was paid during the first quarter of 2018.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In application of this settlement
and payment system:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Upfront Portion (40%) of the annual
variable remuneration due to members of the Senior Management for 2017 was
paid, as the conditions had been met, in the first quarter of 2018, 50% in cash
and 50% in shares. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Deferred Portion (60%) of the
annual variable remuneration, in both cash and shares, has been deferred in its
entirety for a period of five years, and its accrual and payment will be
subject to compliance with a series of multi-year indicators. The application
of these indicators, calculated over the first three years of deferral, may
lead to a reduction of the Deferred Portion, even in its entirety, but in no
event may the Deferred Portion be increased. Provided that the relevant
conditions have been met, the resulting amount will then be paid (40% in cash
and 60% in shares), according to the following payment schedule: 60% in 2021,
20% in 2022 and the remaining 20% in 2023.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The shares received as annual variable
remuneration will be withheld for a period of one year after their delivery,
with the exception of those transferred to honor the payment of taxes arising
from their delivery. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The deferred portion of the annual
variable remuneration in cash will be subject to updating under the terms
established by the Board of Directors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">No personal hedging strategies or
insurance may be used in connection with the remuneration </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and/or responsibility if such personal hedging strategies
or insurance may undermine the relevant person&#8217;s incentives to align with
prudent risk management</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The variable component of the
remuneration corresponding to 2017 will be limited to a maximum amount of 200%
of the fixed component of the total remuneration, as agreed by the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">general shareholders&#8217; meeting</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">216</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Over the entire deferral and
withholding period, the total annual variable remuneration will be subject to
variable &#8220;malus&#8221; and &#8220;clawback&#8221; arrangements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Similarly, in application of the settlement and payment
system of the annual variable remuneration for 2014, pursuant to the
remuneration policy applicable at that time, the Senior Management who were
beneficiaries of such remuneration, have received the last third of the
deferred annual variable remuneration for that year, which delivery occurred in
the first quarter of 2018, thus concluding payment of the deferred variable
remuneration for 2014.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with the above, the remuneration paid to
members of the Senior Management as a whole, who held that position as at December
20, 2018, excluding executive directors, during 2018 is indicated below and
itemized:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:10.4pt;">
  <td colspan=2 nowrap width=100% style="border:none;border-bottom:solid windowtext 1.0pt;height:10.4pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Annual fixed remuneration
  (thousands of euro) received in 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.8pt;">
  <td nowrap valign=bottom width=83% style="border:none;height:22.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Senior Management total</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;height:22.8pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">16,129</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.55pt;">
  <td colspan=3 nowrap width=100% style="border:none;border-bottom:solid windowtext 1.0pt;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Annual variable remuneration for 2017,
  received in 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:3.2pt;">
  <td width=39% style="border-bottom:solid black 1.0pt;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;height:3.2pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=35% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:3.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">In cash (thousands of
  euro)</font></font></p>
  </td>
 <td width=26% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:3.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">In shares</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;"> &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.55pt;">
  <td valign=bottom width=39% style="background:white;border:none;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Senior Management total</font></font></p>
  </td>
 <td nowrap width=35% style="background:white;border:none;border-right:solid white 1.0pt;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,489</font></font></p>
  </td>
 <td nowrap width=26% style="background:white;border:none;border-right:solid white 1.0pt;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">205,104</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.55pt;">
  <td colspan=3 nowrap width=100% style="border:none;border-bottom:solid windowtext 1.0pt;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Deferred variable remuneration for 2014,
  received in 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:3.2pt;">
  <td width=38% style="border-bottom:solid black 1.0pt;border-left:solid white 1.0pt;border-right:solid white 1.0pt;border-top:none;height:3.2pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=36% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:3.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">In cash</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:11.0pt;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">(thousands of euro)</font></font></p>
  </td>
 <td width=26% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;height:3.2pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">In shares</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;"> &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.55pt;">
  <td valign=bottom width=38% style="background:white;border:none;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Senior Management total</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:11.0pt;"> &nbsp;</font></font></p>
  </td>
 <td nowrap width=36% style="background:white;border:none;border-right:solid white 1.0pt;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">573</font></font></p>
  </td>
 <td nowrap width=26% style="background:white;border:none;border-right:solid white 1.0pt;height:12.55pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">64,853</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, during 2018, all members of Senior Management who held that
position as at December 20, 2018, excluding executive directors, received
remuneration in kind, including insurance premiums and others, amounting to an
aggregate of &#8364;875 thousand. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with the conditions established in the
remuneration policies applicable to the corresponding year, components of the
annual variable remuneration of members of the Senior Management who are
entitled to remuneration in connection with 2016 and 2017, were deferred at
year-end, to be received in future years, if applicable conditions are met.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The members of the Senior Management who were appointed by
BBVA&#8217;s Board of Directors on December 20, 2018 (five members) have not received
any remuneration in 2018 for their current roles, having received fixed and
variable remuneration for their former roles amounting to an aggregate of
&#8364;1,757 thousand as annual fixed remuneration; &#8364;337 thousand and 24,293 BBVA
shares for the Upfront Portion of the annual variable remuneration for 2017;
and &#8364;33 thousand and 3,684 BBVA shares for the deferred last third of the
annual variable remuneration for 2014 corresponding to the members of the
Senior Management who were beneficiaries of such remuneration, including the
corresponding update, as well as remuneration in kind and others for an amount
of &#8364;158 thousand, all in application of the remuneration policy to which they
were entitled in their condition as members of the Identified Staff.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">Annual variable remuneration for Senior Management for 2018</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Following year-end, the annual variable remuneration for
2018 of Senior Management, excluding executive directors, who held that
position as at December 20, 2018 (15 members), was determined. </font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">217</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The 2018 annual variable
remuneration to all of the Senior Management, excluding executive directors,
was determined to total &#8364;7,074 thousand, in application of the settlement and
payment system for this group. The Upfront Portion (40%) of the annual variable
remuneration is to be paid, in 50% cash and 50% shares, if applicable conditions
are met. The Deferred Portion (60%) of the annual variable remuneration (40% in
cash and 60% in shares) will be subject to compliance with a series of
multi-year indicators and to the rest of the settlement and payment system
conditions set out in the remuneration policy applicable to Senior Management,
which includes &#8220;malus&#8221; and &#8220;clawback&#8221; arrangements and lock-up periods for the
shares.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As regards those members of the Senior Management who were
appointed by resolution of BBVA&#8217;s Board of Directors on December 20, 2018 (five
members), their annual variable remuneration for 2018 was calculated in line
with their former roles, amounting to an aggregate of &#8364;633 thousand, being
subject to the conditions set out in the remuneration policy to which they were
entitled in their condition as members of the Identified Staff.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font face="Times New Roman,serif" style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">Deferred annual variable remuneration of Senior Management for
2015</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Following year-end, the deferred annual variable
remuneration for 2015 of Senior Management, excluding executive directors, who
held that position as at December 20, 2018 (15 members), was determined. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Based on the result of each of the multi-year performance
indicators set by the Board in 2015 to calculate the deferred portion of this
remuneration, and in application of the corresponding scales of achievement and
their corresponding targets and weightings, likewise approved by the Board, the
deferred portion of the annual variable remuneration for 2015 was adjusted
downwards in light of the TSR indicator, which scale led to a 10% reduction in
the deferred amount associated to this indicator. The final amount of the
deferred portion of the annual variable remuneration for 2015 to be paid to
Senior Management beneficiaries of such remuneration, if applicable conditions
are met, after the corresponding adjustment in light of the result of the TSR
indicator, has been determined in an amount of &#8364;2,936 thousand and 382,407 BBVA
shares, which includes the corresponding update.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As regards those members of the Senior Management who were
appointed by resolution of BBVA&#8217;s Board of Directors on December 20, 2018 (five
members) who were entitled to such deferred remuneration, their annual variable
remuneration for 2015 was calculated in line with their former positions and
functions, amounting to an aggregate of &#8364;110 thousand and 14,203 BBVA shares,
which includes the corresponding update, all in application of the remuneration
policy to which they were entitled in their condition as members of the
Identified Staff.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Remuneration system in shares with
deferred delivery for non-executive directors</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA has a remuneration system in shares with deferred
delivery for its non-executive directors, which was approved by the general
shareholders&#8217; meeting held on March 18, 2006 and extended by resolutions of the
general shareholders&#8217; meetings held on March 11, 2011 and on March 11, 2016,
respectively, for a further five-year period in each case.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This system is based on the annual allocation to
non-executive directors of a number of &#8220;theoretical shares&#8221;, equivalent to 20%
of the total remuneration in cash received by each director in the previous
year, calculated according to the average closing prices of BBVA shares during
the sixty trading sessions prior to the annual general shareholders&#8217; meetings
approving the corresponding financial statements for each year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">These shares will vest, where applicable, to each
beneficiary after they leave directorship for any reason other than serious
breach of their duties.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
number of &#8220;theoretical shares&#8221; allocated in 2018 to each non-executive director
beneficiary of the remuneration system in shares with deferred delivery,
corresponding to 20% of the total remuneration received in cash by said
directors in 2017, was as follows:</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:30.3pt;">
  <td width=32% style="height:30.3pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=35% style="height:30.3pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Theoretical
  shares allocated in 2018</font></b></font></p>
  </td>
 <td width=33% style="height:30.3pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Theoretical
  shares accumulated as of December 31, 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=32% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Tom&#225;s Alfaro Drake</font></font></p>
  </td>
 <td nowrap valign=top width=35% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">10,367</font></font></p>
  </td>
 <td nowrap valign=top width=33% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">83,449</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=32% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Jos&#233; Miguel Andr&#233;s Torrecillas</font></font></p>
  </td>
 <td nowrap valign=top width=35% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">12,755</font></font></p>
  </td>
 <td nowrap valign=top width=33% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">36,565</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=32% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Bel&#233;n Garijo L&#243;pez</font></font></p>
  </td>
 <td nowrap valign=top width=35% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">7,865</font></font></p>
  </td>
 <td nowrap valign=top width=33% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">34,641</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=32% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Sunir Kumar Kapoor</font></font></p>
  </td>
 <td nowrap valign=top width=35% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">4,811</font></font></p>
  </td>
 <td nowrap valign=top width=33% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">8,976</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=32% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Carlos Loring Mart&#237;nez de Irujo</font></font></p>
  </td>
 <td nowrap valign=top width=35% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">11,985</font></font></p>
  </td>
 <td nowrap valign=top width=33% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">98,876</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=32% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Lourdes M&#225;iz Carro</font></font></p>
  </td>
 <td nowrap valign=top width=35% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">7,454</font></font></p>
  </td>
 <td nowrap valign=top width=33% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">23,160</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=32% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Jos&#233; Maldonado Ramos</font></font></p>
  </td>
 <td nowrap valign=top width=35% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">11,176</font></font></p>
  </td>
 <td nowrap valign=top width=33% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">78,995</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=32% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Juan Pi Llorens</font></font></p>
  </td>
 <td nowrap valign=top width=35% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">11,562</font></font></p>
  </td>
 <td nowrap valign=top width=33% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">54,171</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=32% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Susana Rodr&#237;guez Vidarte</font></font></p>
  </td>
 <td nowrap valign=top width=35% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">12,425</font></font></p>
  </td>
 <td nowrap valign=top width=33% style="height:12.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">104,983</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=32% style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Total <sup>(1)</sup></font></b></font></p>
  </td>
 <td nowrap valign=top width=35% style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">90,400</font></b></font></p>
  </td>
 <td nowrap valign=top width=33% style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">523,816</font></b></font></p>
  </td>
 </tr>
</table>


</div>


<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;(1) In addition, in 2018, 10,188 &#8220;theoretical shares&#8221; were
allocated to Jos&#233; Antonio Fern&#225;ndez Rivero, who ceased as a director on March
16, 2018.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pension commitments</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">At year-end, the Bank has undertaken pension commitments in
favor of executive directors Carlos Torres Vila and Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo
Mart&#237;nez-Murillo to cover contingencies for retirement, disability and death,
in accordance with the Bylaws, the Remuneration Policy for BBVA Directors and
their respective contracts entered into with the Bank.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">With regard to Carlos Torres Vila, the Directors&#8217;
Remuneration Policy provides for a benefits framework according to which he is
entitled, provided that he does not leave his position due to serious breach of
duties, to receive a retirement pension when he reaches the legally established
retirement age, as a lump sum or as income. The amount of this pension shall
result from the funds accumulated by the Bank up to December 2016 to cover the
commitments under his previous benefits scheme and the sum of the annual
contributions made by the Bank from January 1, 2017 to cover said pension, as
well as the corresponding accumulated yields. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The amount set out in the Directors&#8217; Remuneration Policy as
the annual contribution to cover retirement benefit under the
defined-contribution scheme for Carlos Torres Vila is &#8364;1,642 thousand. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Of the agreed annual contribution, 15% will be based on
variable components and considered &#8220;discretionary pension benefits&#8221; subject to
the conditions regarding delivery in shares, retention and clawback established
in the applicable regulations, as well as any other conditions concerning
variable remuneration that may be applicable in accordance with the Directors&#8217;
Remuneration Policy.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Should the contractual relationship be terminated before he
reaches the retirement age for reasons other than serious breach of duties, the
retirement benefit due to Carlos Torres Vila when he reaches the legally
established retirement age will be calculated based on the total contributions
made by the Bank under the terms set out, up to that date, plus the
corresponding accumulated yield, with no additional contributions to be made by
the Bank from the time of termination.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">With respect to the commitments to cover the contingencies
for death and disability for Carlos Torres Vila, the Bank will undertake the
payment of the corresponding annual insurance premiums in order to top up
coverage for the death and disability contingencies included in his benefits
scheme.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">219</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">During 2018, in line with the
foregoing, &#8364;1,896 thousand was recorded to meet the benefits commitments for
Carlos Torres Vila, amount which includes the contribution relating to retirement
(&#8364;1,642 thousand) and to death and disability (&#8364;212 thousand), as well as &#8364;42
thousand corresponding to the adjustments made to the amount of &#8220;discretionary
pension benefits&#8221; for 2017, as declared at 2017 year-end and which had to be
registered in the accumulated fund in 2018. As a result, the total accumulated
amount of the fund to meet retirement commitments with Carlos Torres Vila
amounted to &#8364;18,581 thousand as at December 31, 2018. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Of the agreed annual contribution to his retirement, 15%
(&#8364;246 thousand) was registered in 2018 as &#8220;discretionary pension benefits&#8221;.
Following year-end, this amount was adjusted according to the criteria
established to determine Carlos Torres Vila&#8217;s annual variable remuneration for
2018. Accordingly, the &#8220;discretionary pension benefits&#8221; for 2018 amounted to
&#8364;245 thousand, which will be included in the accumulated fund for 2019, subject
to the same conditions as the Deferred Portion of his annual variable
remuneration for 2018, as well as the remaining conditions established for
these benefits in the Directors&#8217; Remuneration Policy. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the case of Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo
Mart&#237;nez-Murillo, the pension scheme provided for in the Directors&#8217;
Remuneration Policy establishes an annual contribution of 30% of his annual fixed
remuneration, to cover the contingency of his retirement, as well as the
payment of the corresponding insurance premiums in order to top up the coverage
of the death and disability contingencies.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Of the aforementioned agreed annual contribution, 15% will
be based on variable components and be considered &#8220;discretionary pension
benefits&#8221;, therefore subject to the conditions of delivery in shares, retention
and clawback established in the applicable regulations, as well as any other
conditions of variable remuneration that may be applicable in accordance with
the Directors&#8217; Remuneration Policy.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo, upon reaching
retirement age, will be entitled to receive, as a lump sum or as income, the
benefits arising from contributions made by the Bank to cover pension
commitments, plus the corresponding yield accumulated up to that date, provided
he does not leave his position due to serious breach of duties. In the event
that he voluntarily terminates his employment relationship with the Bank before
retirement, the benefits will be limited to 50% of the contributions made by
the Bank up to that date, as well as the corresponding accumulated yield, with
no additional contributions to be made by the Bank upon termination. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">With respect to the commitments to cover the contingencies
for death and disability for Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo, the
Bank will undertake the payment of the corresponding annual insurance premiums
in order to top up the coverage for the death and disability contingencies of
his pension system.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In line with the above, during 2018, &#8364;405 thousand was
recorded to meet the benefits commitments for Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo
Mart&#237;nez-Murillo, which amount includes both the contribution relating to
retirement (&#8364;250 thousand) and death and disability (&#8364;147 thousand), as well as
&#8364;8 thousand corresponding to the adjustments made to the amount of
&#8220;discretionary pension benefits&#8221; for 2017, as declared at 2017 year-end and
which had to be registered in the accumulated fund in 2018. As a result, the
total accumulated amount of the fund to meet retirement commitments with Jos&#233;
Manuel Gonz&#225;lez-P&#225;ramo amounted to &#8364;1,067 thousand as at December 31, 2018.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Of the agreed annual contribution to retirement, 15% (&#8364;38
thousand) was registered in 2018 as &#8220;discretionary pension benefits&#8221;. Following
year-end, this amount was adjusted according to the criteria established to
determine Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo&#8217;s annual variable
remuneration for 2018. Accordingly, the &#8220;discretionary pension benefits&#8221; for the
year amounted to &#8364;42 thousand, which will be included in the accumulated fund
for 2019, subject to the same conditions as the Deferred Portion of his annual
variable remuneration for 2018, as well as the remaining conditions established
for these benefits in the Directors&#8217; Remuneration Policy.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018 there were no other pension
commitments undertaken in favor of other executive directors. </font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">During 2018, &#8364;4,754 thousand
was recorded to meet the benefits commitments undertaken with members of the
Senior Management, excluding executive directors, who held their positions as
at December 20, 2018 (15 members), which amount includes the contribution
relating to retirement (&#8364;3,883 thousand) and to death and disability (&#8364;831
thousand), as well as &#8364;40 thousand corresponding to the adjustments made to the
amount of &#8220;discretionary pension benefits&#8221; for 2017, as declared at 2017
year-end and which had to be registered in the accumulated fund in 2018. As a
result, the total accumulated amount of the fund to meet retirement commitments
with Senior Management amounted to &#8364;57,429 thousand as at December 31, 2018. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Of the agreed annual contributions for members of Senior
Management who held that position as at December 20, 2018, 15% will be based on
variable components and considered &#8220;discretionary pension benefits&#8221;, therefore
subject to the conditions regarding delivery in shares, retention and clawback
established in the applicable regulations, as well as any other conditions
concerning variable remuneration that may be applicable in accordance with the
remuneration policy applicable to members of Senior Management.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Of the agreed annual contribution to retirement, an amount
of &#8364;571 thousand was registered in 2018 as &#8220;discretionary pension benefits&#8221;.
Following year-end, this amount was adjusted according to the criteria
established to determine the annual variable remuneration of the Senior
Management for 2018. Accordingly, the &#8220;discretionary pension benefits&#8221; for the
year, corresponding to members of the Senior Management who held that position
as at December 20, 2018, amounted to &#8364;555 thousand, which will be included in
the accumulated fund for 2019, subject to the same conditions as the Deferred
Portion of the annual variable remuneration for 2018, as well as the remaining
conditions established for these benefits in the remuneration policy applicable
to members of the Senior Management.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">During 2018, &#8364;146 thousand was recorded to meet the
benefits commitments undertaken with the members of the Senior Management,
excluding executive directors, who were appointed by BBVA&#8217;s Board of Directors
on December 20, 2018 (five members), pursuant to the commitments made by the
Bank with each of them in relation to their previous positions and functions,
with such amount including both the contribution to retirement (&#8364;97 thousand)
as well as to death and disability (&#8364;49 thousand), with the fund accumulated to
meet retirement commitments for this group amounting to a total of &#8364;1,713
thousand.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Extinction of contractual relationship</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with the Directors&#8217; Remuneration Policy, the
Bank has no commitments to pay severance indemnity to any executive directors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The contractual framework defined in the Directors&#8217;
Remuneration Policy for Carlos Torres Vila and for the executive director Jos&#233;
Manuel Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo, includes a post-contractual
non-compete agreement for a period of two years after they cease as BBVA
executive directors, in accordance with which they will receive remuneration
from the Bank for an amount equivalent to one annual fixed remuneration for
each year of duration of the non-compete arrangement, which shall be paid
periodically over the course of the two years, provided that they leave their
positions as executive directors for reasons other than retirement, disability
or serious breach of duties.</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;line-height:115%;">C</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;line-height:115%;">.&#160;&#160;&#160;&#160;&#160; </font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;line-height:115%;">Board
Practices </font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Committees </font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our corporate governance system is based on the
distribution of functions between the Board, the Executive Committee and the
following other specialized Board Committees: the Audit and Compliance
Committee; the Appointments Committee; the Remuneration Committee; the Risk
Committee; and the Technology and Cybersecurity Committee.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Additional information on our Board Committees, including
their current composition, is provided below.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Executive Committee </font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Board of Directors is assisted in fulfilling its
responsibilities by the Executive Committee (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Comisi&#243;n Delegada Permanente</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)
of the Board of Directors. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of the date of this Annual Report, BBVA&#8217;s Executive
Committee is comprised of two executive directors and four non-executive
directors, who are the following:</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="page-break-inside:avoid;">
  <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
   <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:9.0pt;">Position</font></b></font></p>
   </div>

   </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:9.0pt;">Name</font></b></font></p>
   </div>

   </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Chairman</font></font></p>
  </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Carlos Torres Vila</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Members</font></font></p>
  </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:115%;">Mr. Onur Gen&#231;</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:115%;">Mr. Jaime F&#233;lix Caruana
  Lacorte</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Carlos Loring
  Mart&#237;nez de Irujo</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Jos&#233; Maldonado Ramos</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:36.0pt;text-indent:-36.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mrs. Susana Rodr&#237;guez Vidarte</font></font></p>
  </td>
 </tr>
</table>


</div>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">According to our Board Regulations, the Executive Committee will be apprised
of such business as the Board of Directors resolves to confer on it, in
accordance with prevailing legislation, our Bylaws or our Board Regulations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Executive Committee shall meet on the dates indicated
in the annual calendar of scheduled meetings and when the chairman or acting
chairman so decides. During 2018, the Executive Committee met nineteen (19)
times.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Audit and Compliance Committee </font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Audit and Compliance Committee shall perform the duties
required under applicable laws, regulations and our Bylaws. Essentially, its
mission is to assist the Board in overseeing the financial information and the
exercise of the Group control duties.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Board Regulations establish that the Audit and
Compliance Committee shall have a minimum of four members, one of which shall
be appointed by the Board taking into account his/her knowledge and background
in accounting, auditing or both. In accordance with the Board Regulation, they
shall all be independent directors, one of whom shall act as Chairman, also
appointed by the Board. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 16.A. Audit Committee Financial Expert</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of the date of this Annual
Report, the Audit and Compliance Committee is comprised of five independent
directors, who are the following:</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="page-break-inside:avoid;">
  <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
   <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:9.0pt;">Position</font></b></font></p>
   </div>

   </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:9.0pt;">Name</font></b></font></p>
   </div>

   </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Chairman</font></font></p>
  </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Jos&#233; Miguel Andr&#233;s
  Torrecillas</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Members</font></font></p>
  </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mrs. Bel&#233;n Garijo L&#243;pez</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mrs. Lourdes M&#225;iz Carro</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mrs. Ana Cristina
  Peralta Moreno</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Juan Pi Llorens</font></font></p>
  </td>
 </tr>
</table>


</div>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under the Board Regulations and
the charter of the Audit and Compliance Committee, the scope of its functions
is as follows (for purposes of the below, &#8220;entity&#8221; refers to BBVA):</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">report to the general shareholders&#8217; meeting on questions raised
with respect to those matters falling within the Committee&#8217;s competence and, in
particular, on the result of the audit explaining how it has contributed to the
completeness of the financial information and the function performed by the
Committee in this process;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">oversee the efficacy of the internal control of the Company, the
internal audit and the risk-management systems in the process of drawing up and
reporting the regulatory financial information, including tax risks. Also to
discuss with the financial auditor any significant weaknesses in the internal
control system detected when the audit is conducted without undermining its
independence. For such purposes, and where appropriate, the Committee may
submit recommendations or proposals to the Board of Directors, and the
corresponding period for monitoring; </font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">oversee the process of drawing up and reporting financial
information and submit recommendations or proposals to the Board of Directors
aimed at safeguarding its completeness; </font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">submit to the Board of Directors proposals on the selection,
appointment, re-election and replacement of the external auditor, taking
responsibility for the selection process in accordance with applicable
regulations, as well as their contractual conditions, and regularly collect
information from the external auditor regarding the audit plan and its
implementation, as well as preserving the auditor&#8217;s independence in the
performance of their duties;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">establish correct relations with the external auditor in order to
receive information on any matters that may jeopardize their independence, for
examination by the Committee, and any others relating to the process of the financial
auditing; as well as those other communications provided for by law and by the
auditing regulations. Each year it must unfailingly receive the external
auditors&#8217; declaration of their independence with regard to the Company or
entities directly or indirectly related to it, as well as detailed and
individualized information on additional services provided of any kind and the
corresponding fees received by the external auditor or by persons or entities
linked to them as provided for under the legislation on financial auditing;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">each year before the external financial auditor issues their
report on the financial statements, to issue a report expressing an opinion on
whether the independence of the external financial auditor has been
compromised. This report must unfailingly contain the reasoned valuation of the
provision of each of the additional services referred to in the previous
subsection, considered individually and as a whole, other than the
legally-required audit and with respect to the regime of independence or to the
standards regulating the audit activity;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">report, prior to the Board of Directors adopting resolutions, on
all those matters established by law, by our Bylaws and by the Board
Regulations, and in particular on:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:71.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">the financial information that the Company must periodically
publish;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:71.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">the creation or acquisition of a holding in special-purpose
entities or entities domiciled in countries or territories considered tax
havens; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:71.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">related-party transactions;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">oversee compliance with applicable domestic and international
regulations on matters related to money laundering, conduct on the securities
markets, data protection and the scope of Group activities with respect to
anti-trust regulations. Also to ensure that any requests for action or information
made by official authorities with competence in these matters are dealt with in
due time and in due form;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">ensure that the codes of ethics and of internal conduct on the
securities market, as they apply to Group personnel, comply with regulatory
requirements and are adequate;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">especially to oversee compliance with the provisions applicable to
directors contained in the Board Regulations, as well as their compliance with
the applicable standards of conduct on the securities markets;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">any other duties that may have been allocated under the Board
Regulations or attributed to the Committee by a Board of Directors resolution;
and</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">the Committee shall also monitor the independence of external
auditors. This entails the following two duties:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:71.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">preventing any influence over the auditor&#8217;s warnings, opinions or
recommendations. To this end, ensure that compensation for the auditor&#8217;s work
does not compromise either its quality or independence, in compliance with
current legislation on auditing at all times; and</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:71.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">stipulating as incompatible the provision of audit and consulting
services unless they are works required by supervisors or whose provision by
the auditor is allowed by applicable legislation, and there are not available
in the market alternatives as regards content, quality or efficiency of equal
value to those which the auditor could provide; in this case approval by the
Committee shall be required, but this decision can be delegated in advance to
its Chairman. The auditor shall be prohibited from providing prohibited
services outside the audit, in compliance with what is set out at all times by
audit legislation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Committee <a name="_cp_text_1_961"></a>leads the
selection process of the external auditor for the Bank and its Group. It must
verify that the audit schedule is being carried out under the service agreement
and that it satisfies the requirements of the competent authorities and the
Bank&#8217;s governing bodies. The Committee will also require the auditors, at least
once each year, to assess the quality of the Group&#8217;s internal oversight
procedures.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Audit and Compliance Committee meets as often as
necessary to comply with its functions, although an annual calendar of meetings
will be drawn up in accordance with its duties. During 2018, the Audit and
Compliance Committee met twelve (12) times.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Executives heading areas that manage matters within the
scope of its competence, especially the Accounting, Internal Audit and
Compliance departments, may be called to attend the Audit and Compliance
Committee&#8217;s meetings and, at the request of these executives, other staff from
these departments who have particular knowledge or responsibility in the
matters contained in the agenda, when their presence at the meeting is deemed
advisable. However, only the Committee members and the <a name="_cp_text_1_963"></a>secretary
will be present when the results and conclusions of the meeting are
assessed.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Committee may engage external advisory services for
relevant issues when it considers that these cannot be properly provided by
experts or technical staff within the Group on grounds of specialization or
independence.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Likewise, the Committee may call on the personal
cooperation and reports of any employee or member of the management team when
it considers <a name="_cp_text_1_965"></a>it necessary <a name="_cp_text_1_967"></a>to
comply with its functions in relevant issues.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Committee has its own specific regulations, approved by
the Board of Directors. These are available on our website and, among other
things, regulate its operation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Appointments Committee</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Appointments Committee is tasked with assisting the
Board on issues related to the selection and appointment of Board members and
other matters contained in the Board Regulations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In compliance with the Board Regulations, this Committee
shall comprise a minimum of three members who must be non-executive directors
appointed by the Board of Directors, which will also appoint its Chairman. The
Chairman and the majority of its members must be independent directors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of the date of this Annual Report, the Appointments
Committee is comprised of three independent directors, including its Chair, and
of two external directors, who are the following:</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="page-break-inside:avoid;">
  <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
   <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:9.0pt;">Position</font></b></font></p>
   </div>

   </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:9.0pt;">Name</font></b></font></p>
   </div>

   </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Chairman</font></font></p>
  </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Jos&#233; Miguel Andr&#233;s
  Torrecillas</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Members</font></font></p>
  </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mrs. Bel&#233;n Garijo L&#243;pez</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mrs. Lourdes M&#225;iz Carro</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Jos&#233; Maldonado Ramos</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mrs. Susana Rodr&#237;guez
  Vidarte</font></font></p>
  </td>
 </tr>
</table>


</div>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The duties of the Appointments
Committee under the Board Regulations are as follows:</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">submit proposals to the Board of Directors on the appointment,
reelection or separation of independent directors and report on proposals for
the appointment, re-election or separation of the other directors.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">To such end, the Committee will evaluate the balance of
skills, knowledge and expertise on the Board of Directors, as well as the
conditions that candidates should display to fill the vacancies arising,
assessing the dedication necessary to be able to suitably perform their duties
in view of the needs that the Company&#8217;s governing bodies may have at any time.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Committee will
ensure that when filling new vacancies, the selection procedures are not marred
by implicit biases that may entail any discrimination and in particular
discrimination that may hinder the selection of female directors, trying to
ensure that women who display the professional profile being sought are
included on the shortlists.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Likewise, when
drawing up proposals within its scope of competence for the appointment of
directors the Committee will take into account in case they may be considered
suitable, any applications that may be made by any member of the Board of
Directors for potential candidates to fill the vacancies;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">submit proposals to the Board of Directors for policies on the
selection and diversity of members of the Board of Directors;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">establish a target for representation of the underrepresented
gender in the Board of Directors and draw up guidelines on how to reach that
target;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">analyze the structure, size and composition of the Board of
Directors, at least once a year when carrying out its operational assessment;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">analyze
the suitability of the various members of the Board of Directors;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">perform
an annual review of the status of each director, so that this may be reflected
in the annual corporate governance report;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">report
the proposals for the appointment of the Chairman and the Secretary and, where
applicable, the Deputy Chairman and the Deputy Secretary;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">report
on the performance of the duties of the Chairman of the Board, for the purposes
of the periodic assessment by the Board of Directors, under the terms
established <a name="_cp_text_1_969"></a>in the Board Regulations;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">examine
and organize the succession of the Chairman in conjunction with the Lead
Director and, as applicable, file proposals with the Board of Directors so that
the succession takes place in a planned and orderly manner;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">review
the Board of Directors&#8217; policy on the selection and appointment of members of
senior management, and file recommendations with the Board when applicable;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">report
on proposals for appointment and separation of senior managers; and</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">any
other duties that may have been allocated under the Board Regulations or
attributed to the Committee by a Board of Directors resolution or by applicable
legislation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the performance of its duties, the Appointments
Committee will consult with the Chairman of the Board via the Committee <a name="_cp_text_1_971"></a>chair, especially with respect to matters related to
executive directors and senior managers.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with our Board Regulations, the Committee may
request the attendance at its sessions of persons with tasks in the Group that
are related to the Committee&#8217;s duties. It may also obtain such advice as may be
necessary to establish an informed opinion on matters related to its business.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The chair of the Appointments Committee will convene it as
often as necessary to perform its functions. During 2018, the Appointments
Committee met ten (10) times.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Remuneration Committee</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Remuneration Committee is the body that assists the
Board in matters related to remuneration, as set out in the Board Regulations. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">It seeks to ensure that the remuneration policy established
by the Company is duly observed. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under the Board Regulations, the Committee will comprise a
minimum of three members appointed by the Board. All the members must be
non-executive directors, with a majority of independent directors, including
the Committee Chair.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of the date of this Annual Report, the Remuneration
Committee is comprised of three independent directors, including its Chair, and
of two external directors, who are the following: </font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="page-break-inside:avoid;">
  <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
   <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:9.0pt;">Position</font></b></font></p>
   </div>

   </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:9.0pt;">Name</font></b></font></p>
   </div>

   </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Chairman</font></font></p>
  </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mrs. Bel&#233;n Garijo L&#243;pez</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Members</font></font></p>
  </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Tom&#225;s Alfaro Drake</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Carlos Loring
  Mart&#237;nez de Irujo</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mrs. Lourdes M&#225;iz Carro</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mrs. Ana Cristina
  Peralta Moreno</font></font></p>
  </td>
 </tr>
</table>


</div>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with the Board
Regulations, the scope of the functions of the Remuneration Committee is as
follows:</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">propose</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;"> to the Board of Directors, for its submission to the general
shareholders&#8217; meeting, the directors&#8217; remuneration policy, with respect to its
items, amounts, and parameters for its determination and its vesting. Also to
submit the corresponding report, in the terms established by applicable law at
any time;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">determine the extent and amount of the individual remunerations,
entitlements and other economic compensations and other contractual conditions
for the executive directors, so that these can be reflected in their contracts.
The Committee&#8217;s proposals on such matters will be submitted to the Board of
Directors;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">propose the annual report on the remuneration of the Bank&#8217;s
directors to the Board of Directors each year, which will then be submitted to
the annual general shareholders&#8217; meeting, in compliance with the applicable
legislation;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">propose the remuneration policy to the Board of Directors for
senior managers and employees whose professional activities have a significant
impact on the Company&#8217;s risk profile;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">propose the basic conditions of the senior management contracts to
the Board of Directors, and directly supervise the remuneration of the senior
managers in charge of risk management and compliance functions within the
Company;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">oversee observance of the remuneration policy established by the
Company and periodically review the remuneration policy applied to directors,
senior managers and employees whose professional activities have a significant
impact on the Company&#8217;s risk profile;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">verify the information on directors and senior managers
remunerations contained in the different corporate documents, including the
annual report on directors&#8217; remuneration; and</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">any other duties that may have been allocated under the Board
Regulations or attributed to the Committee by a Board of Directors resolution
or by applicable legislation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the performance of its duties, the Remuneration
Committee will consult with the Chairman of the Board via the Committee Chair,
especially with respect to matters related to executive directors and senior
managers.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pursuant to our Board Regulations, the Committee may
request the attendance at its meetings of persons with tasks in the Group that
are related to the Committee&#8217;s duties. It may also obtain such advice as may be
necessary to establish an informed opinion on matters related to its business.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Remuneration Committee will meet as often as necessary
to perform its duties, convened by its Chair. During 2018, the Remuneration
Committee met on five (5) occasions.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Risk Committee</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Board&#8217;s Risk Committee&#8217;s essential function is to
assist the Board of Directors in the determination and monitoring of the Group
risk management and control policy and its strategy within this scope. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Risk Committee will comprise a minimum of three
members, appointed by the Board of Directors, which will also appoint its
Chairman. All Committee members must be non-executive directors, of whom at
least one third must be independent directors. Its Chairman must also be an
independent director.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of the date of this Annual
Report, the Risk Committee is comprised of three independent directors,
including its Chair, and of two external directors, who are the following:</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="page-break-inside:avoid;">
  <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
   <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:9.0pt;">Position</font></b></font></p>
   </div>

   </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:9.0pt;">Name</font></b></font></p>
   </div>

   </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Chairman</font></font></p>
  </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Juan Pi Llorens</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Members</font></font></p>
  </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Jos&#233; Miguel Andr&#233;s
  Torrecillas</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Jaime F&#233;lix Caruana
  Lacorte</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Carlos Loring
  Mart&#237;nez de Irujo</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mrs. Susana Rodr&#237;guez
  Vidarte</font></font></p>
  </td>
 </tr>
</table>


</div>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under the Board Regulations, it
has the following duties:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;layout-grid-mode:char;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">analyze and assess proposals related to the Group&#8217;s risk
management, control and strategy. In particular, these will identify:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:89.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;layout-grid-mode:char;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">the Group&#8217;s risk appetite; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:89.85pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;layout-grid-mode:char;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">establishment of the level of risk considered acceptable according
to the risk profile and capital at risk, broken down by the Group&#8217;s businesses
and areas of activity;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">analyze and assess the control and management policies for the
Group&#8217;s different risks and information and internal control systems;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">the measures established to mitigate the impact of the risks
identified, should they materialize;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">monitor the performance of the Group&#8217;s risks and their fit with
the strategies and policies defined and the Group&#8217;s risk appetite;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">analyze, prior to submitting them to the Board of Directors or the
Executive Committee, those risk transactions that must be put to its
consideration;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">review whether the prices of assets and liabilities offered to
customers take fully into account the Bank&#8217;s business model and risk strategy
and, if not, present a remedy plan to the Board of Directors;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">participate in the process of establishing the remuneration
policy, checking that it is consistent with sound and effective risk management
and does not encourage risk-taking that exceeds the level of tolerated risk of
the Company;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">check that the Company and its Group has the means, systems,
structures and resources in line with best practices that enable it to
implement its risk-management strategy, ensuring that the entity&#8217;s risk
management mechanisms are matched to its strategy; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">any other duties that may have been allocated under the Board
Regulations or attributed to the Committee by a Board of Directors resolution
or by applicable legislation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pursuant to our Board Regulations, the Committee may
request the attendance of the Head of the Global Risk Management Area at its
meetings and also of other executives heading different risks areas or the
persons who, within the Group organization, have missions related to its
functions. It may also obtain such advice as may be necessary to establish an
informed opinion on matters related to its business. </font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Committee meets as often as necessary to comply with
its duties, usually fortnightly. In 2018, it held twenty-one (21) meetings.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Committee
has its own specific regulations, approved by the Board of Directors. These are
available on our website and, among other things, regulate its operation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Technology and Cybersecurity Committee</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Technology and Cybersecurity Committee&#8217;s essential functions
<a name="_cp_text_1_984"></a>are to assist the Board of Directors in the
understanding <a name="_cp_text_1_986"></a>of the risks associated to
technology and information systems related to the Group&#8217;s activity and the
oversight of its management and control and in the supervision of the
infrastructure and technology strategy of the Group.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Technology and Cybersecurity Committee will have a
minimum of three members appointed by the Board among its directors, which will
nominate the <a name="_cp_text_1_990"></a>chairman of this Committee. For this
purpose, the Board will take into consideration the knowledge and experience in
technology, information systems and cyber-security matters<a name="_cp_text_1_991"></a> of its members.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of the date of this Annual
Report, the Technology and Cybersecurity Committee is comprised of one
executive director and five non-executive directors, who are the following:</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="page-break-inside:avoid;">
  <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
   <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:9.0pt;">&#160;&nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:9.0pt;">Position</font></b></font></p>
   </div>

   </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:9.0pt;">Name</font></b></font></p>
   </div>

   </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Chairman</font></font></p>
  </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Mr. Carlos Torres Vila</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;line-height:115%;">Members</font></font></p>
  </td>
 <td valign=bottom width=50% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:115%;">Mr. Tom&#225;s Alfaro Drake</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:115%;">Mr. Jaime F&#233;lix Caruana
  Lacorte</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:115%;">Mr. Sunir Kumar Kapoor</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:115%;">Mr. Juan Pi Llorens</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:115%;">Mr. Jan Paul Marie
  Francis Verplancke</font></font></p>
  </td>
 </tr>
</table>


</div>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under its <a name="_cp_text_1_993"></a>regulations,
the Technology and Cybersecurity Committee has the following <a name="_cp_text_1_995"></a>responsibilities:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">- Oversight of <a name="_cp_text_1_997"></a>technology-related risks and cyber-security
management<a name="_cp_text_1_998"></a>, which include the following:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><a name="_cp_text_1_1000"></a><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Assess the main technology-related risks to which </font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">the
Bank<a name="_cp_text_1_1001"></a> is exposed, including information security
and cyber-security risks, and the steps management has taken to monitor and
control <a name="_cp_text_1_1002"></a>its exposure to such <a name="_cp_text_1_1004"></a>risks.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Review policies and systems <a name="_cp_text_1_1006"></a>in place for
the assessment, control and management of the Group&#8217;s <a name="_cp_text_1_1008"></a>technology-related
risks and <a name="_cp_text_1_1010"></a>its infrastructure, including <a name="_cp_text_1_1012"></a>responses to cyber-attacks and recovery plans.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><a name="_cp_text_1_1014"></a><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Obtain </font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">business continuity planning <a name="_cp_text_1_1016"></a>reports on technology
and infrastructure matters<a name="_cp_text_1_1018"></a> from management.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><a name="_cp_text_1_1020"></a><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Obtain </font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">reports from management, as and when appropriate, on:</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:70.9pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">IT-related compliance risks; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:70.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">The steps taken to identify, assess, monitor, manage and mitigate
those risks.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Additionally, the Technology and Cybersecurity Committee will be
informed of any relevant event that may occur regarding cyber-security issues.
These are deemed to be those which, individually or <a name="_cp_text_1_1026"></a>in
the aggregate, may have a material impact <a name="_cp_text_1_1028"></a>on the
Group&#8217;s equity, results <a name="_cp_text_1_1029"></a>of operation or
reputation. In any case, such events <a name="_cp_text_1_1031"></a>shall be
informed to the <a name="_cp_text_1_1033"></a>chair of the Committee as soon as
possible.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">- Keeping abreast about the technology strategy of the
Group, which include the following:</font></font><a name="_cp_text_1_1035"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><a name="_cp_text_1_1037"></a><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Obtaining </font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">reports from management, as and when
appropriate, on technology strategy and trends that may affect the Company&#8217;s
strategic plans, including the monitoring of overall industry trends.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><a name="_cp_text_1_1039"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">228</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_234"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Obtaining </font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">reports from management, as and when appropriate, on the metrics
established by the Group for the management and control of IT-related matters,
including the progress of the developments and investments carried out by the
Group in this field.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><a name="_cp_text_1_1041"></a><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Obtaining </font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">reports from management, as and when
appropriate, on matters related to new technologies, applications, information
systems and best practices that affect the Group&#8217;s IT strategy or plans.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><a name="_cp_text_1_1043"></a><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Obtaining </font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">reports from management on the core policies,
strategic projects and plans defined by the <a name="_cp_text_1_1045"></a>engineering
area<a name="_cp_text_1_1046"></a> of the Bank.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><a name="_cp_text_1_1048"></a><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Informing </font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">the Board of Directors and, if applicable,
the Executive Committee, on any IT-related matters falling within the scope of
their functions.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For a better performance of its
functions, channels for an appropriate coordination between the Technology and
Cybersecurity Committee and the Audit and Compliance Committee will be<a name="_cp_text_1_1050"></a> <a name="_cp_text_2_1051"></a>established to ensure:</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><a name="_cp_text_1_1052"></a><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;(i) &nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">the
Technology and Cybersecurity Committee <a name="_cp_text_1_1055"></a>has access
to the conclusions of the work performed by the Internal Audit Department in
tech<a name="_cp_text_1_1057"></a>nology and cybersecurity matters; and </font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">(ii)</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;"> the Audit and Compliance Committee is informed on IT-related
systems and processes that are related to or affect the Bank&#8217;s internal control
systems and other matters falling within the scope of its functions.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:17.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
Committee meets as often as necessary to comply with its functions. In 2018 it
held seven (7) meetings.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Committee
has its own specific regulations, approved by the Board of Directors. These are
available on our website and, among other things, <a name="_cp_text_1_1059"></a>they
regulate <a name="_cp_text_1_1061"></a>the Committee&#8217;s operation<a name="_Retribuciones_y_otras"></a>.</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">D</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">.&#160;&#160;&#160;&#160;&#160; </font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">Employees</font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, we had
125,627 employees. Approximately 88% of our employees in Spain held technical,
managerial and executive positions, while the remainder were clerical and
support staff. The table below sets forth the number of BBVA employees by
geographic area.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td colspan=4 width=74% style="border:none;border-bottom:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">As of December 31,
  2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Country </font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">BBVA</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Bank Subsidiaries</font></b></font></p>
  </td>
 <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:0pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Non-bank
  Subsidiaries</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Spain</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">25,419</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,919</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">30,338</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">United Kingdom</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">126</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">126</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">France</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">72</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">72</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Italy</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">50</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">52</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Germany</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">41</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">41</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Switzerland</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">122</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">122</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Portugal</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">469</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">469</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Belgium</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">24</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">24</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">The Netherlands (Holland)</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">256</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">256</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Russia</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Romania</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,313</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,313</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Ireland</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Luxembourg</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">20,425</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">20,425</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Finland</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">83</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">83</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total Europe</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">26,204</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">22,120</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">5,004</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">53,328</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:8.65pt;">
  <td width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">The United States</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">141</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">10,843</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">10,984</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Argentina</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,262</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,262</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Brazil</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Colombia</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,803</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,803</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Venezuela</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3,384</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3,384</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">36,123</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">36,123</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Uruguay</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">578</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">578</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Paraguay</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">430</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">430</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Bolivia</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">396</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">396</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Chile</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">923</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">923</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Cuba</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Peru</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,267</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,267</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:8.65pt;">
  <td width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total Latin America</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">60,770</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">402</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">61,173</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Hong Kong</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">89</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">89</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Japan</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">China</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">23</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">25</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Singapore</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">India</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">South Korea</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">United Arab Emirates</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Taiwan</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Indonesia</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total Asia</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">140</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">142</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:8.65pt;">
  <td width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">26,017</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">94,202</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">5,408</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">125,627</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">229</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_235"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of
December 31, 2017, we had 131,856 employees. Approximately 88% of our employees
in Spain held technical, managerial and executive positions, while the
remainder were clerical and support staff. The table below sets forth the
number of BBVA employees by geographic area.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td colspan=4 width=74% style="border:none;border-bottom:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">As of December 31,
  2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Country </font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">BBVA</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Bank Subsidiaries</font></b></font></p>
  </td>
 <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:0pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Non-bank
  Subsidiaries</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Spain</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">26,048</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,536</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">30,584</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">United Kingdom</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">125</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">125</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">France</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">72</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">72</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Italy</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">51</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">56</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Germany</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">44</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">44</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Switzerland</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">121</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">121</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Portugal</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">472</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">472</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Belgium</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">27</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">27</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">The Netherlands (Holland)</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">242</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">242</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Russia</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Romania</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,255</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,255</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Ireland</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Luxembourg</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">21,118</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">21,118</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Finland</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">39</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">39</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total Europe</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">26,370</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">23,212</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,583</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">54,165</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:8.65pt;">
  <td width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">The United States</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">131</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">10,797</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">10,928</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Argentina</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,264</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,264</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Brazil</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Colombia</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,769</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,769</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Venezuela</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,159</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,159</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">37,207</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">37,207</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Uruguay</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">592</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">592</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Paraguay</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">446</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">446</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Bolivia</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">379</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">379</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Chile</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,852</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,852</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Cuba</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Peru</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">5,955</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">5,955</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:8.65pt;">
  <td width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total Latin America</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">66,244</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">385</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">66,630</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Hong Kong</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">85</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">85</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Japan</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">China</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">18</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">20</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Singapore</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">India</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">South Korea</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">United Arab Emirates</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Taiwan</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Indonesia</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:8.65pt;">
  <td width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total Asia</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">131</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">133</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.65pt;">
  <td nowrap valign=bottom width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=19% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=23% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:8.65pt;">
  <td width=26% style="height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">26,633</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">100,253</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,970</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:8.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">131,856</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">230</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_236"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of
December 31, 2016, we had 134,792 employees. Approximately 88% of our employees
in Spain held technical, managerial and executive positions, while the
remainder were clerical and support staff. The table below sets forth the
number of BBVA employees by geographic area.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:1.0pt;">
  <td nowrap valign=bottom width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td colspan=4 width=73% style="border:none;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">As of December 31,
  2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Country </font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">BBVA</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Bank Subsidiaries</font></b></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Non-bank Subsidiaries</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Spain</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">26,884</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,567</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">31,451</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">United Kingdom</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">150</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">150</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">France</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">78</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">78</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Italy</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">53</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">61</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Germany</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">45</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">45</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Switzerland</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">125</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">125</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Portugal</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">490</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">490</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Belgium</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">32</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">32</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">The Netherlands (Holland)</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">248</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">248</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Russia</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Romania</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,290</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1,290</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Ireland</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Luxembourg</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">22,140</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">22,140</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Finland</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">39</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">39</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total Europe</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">27,245</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">24,297</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,617</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">56,159</font></b></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=bottom width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:1.0pt;">
  <td width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">The United States</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">128</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">10,416</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">10,544</font></b></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=bottom width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Argentina</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,439</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,439</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Brazil</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">7</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Colombia</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">7,228</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">7,228</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Venezuela</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,888</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,888</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">37,378</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">37,378</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Uruguay</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">618</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">618</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Paraguay</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">463</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">463</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Bolivia</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">366</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">366</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Chile</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,522</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,522</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Cuba</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Peru</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,010</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6,010</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=bottom width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:1.0pt;">
  <td width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total Latin America</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">67,546</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">373</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">67,921</font></b></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=bottom width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Hong Kong</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">89</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">89</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Japan</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">China</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">18</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">26</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Singapore</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">India</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">South Korea</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">17</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">United Arab Emirates</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Taiwan</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">7</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Indonesia</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=bottom width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:1.0pt;">
  <td width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total Asia</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">158</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">8</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">166</font></b></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=bottom width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Australia</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:27.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total Oceania</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">2</font></b></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td nowrap valign=bottom width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=15% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=20% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=21% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 <td nowrap valign=bottom width=17% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">&nbsp;</td>
 </tr>
<tr style="height:1.0pt;">
  <td width=27% style="height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">27,535</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">102,259</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=21% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4,998</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:18.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">134,792</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">231</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_237"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The reduction in the number of employees in the last two years is mainly
attributable to divestitures and restructuring plans. See Notes 2.2.12, 3 and
25 to the Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The terms and basic conditions of employment in private sector banks in
Spain are negotiated with trade unions representing sector bank employees. Wage
negotiations take place on an industry-wide basis. This process has
historically produced collective bargaining agreements binding upon all Spanish
banks and their employees. On June 15, 2016, the XXIII collective bargaining
agreement was signed. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This agreement became
effective as of January 1, 2015 and expired on December 31, 2018. As of the
date of this Annual Report, the collective bargaining agreement is being
reviewed and updated.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, 2017 and 2016, we had 1,305, 1,300 and 1,598
temporary employees in our Spanish offices, respectively.</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">E</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">.&#160;&#160; &#160;&#160;&#160;</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">Share Ownership </font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> March 25, 2019, the members of the Board of Directors
owned an aggregate of BBVA shares as shown in the table below: </font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:0pt;width:100%;">
 <tr style="height:4.0pt;">
  <td valign=bottom style="height:4.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Name</font></b></font></p>
  </div>

  </td>
 <td valign=bottom style="height:4.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Directly owned shares</font></b></font></p>
  </div>

  </td>
 <td valign=bottom style="height:4.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Indirectly owned shares</font></b></font></p>
  </div>

  </td>
 <td valign=bottom style="height:4.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Total shares</font></b></font></p>
  </div>

  </td>
 <td valign=bottom style="height:4.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">% Capital Stock</font></b></font></p>
  </div>

  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Carlos Torres Vila</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">380,138</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">380,138</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.006%</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Onur Gen&#231; * </font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">51,057</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">51,057</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.001%</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Tom&#225;s </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Alfaro
  Drake</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;"> &nbsp;</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">18,459</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">18,459</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.000%</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Jos&#233; Miguel Andr&#233;s Torrecillas</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">10,828</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">10,828</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.000%</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Jaime F&#233;lix Caruana Lacorte</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Bel&#233;n </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Garijo
  L&#243;pez</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;"> &nbsp;</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Jos&#233; Manuel </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Gonz&#225;lez-P&#225;ramo
  Mart&#237;nez-Murillo</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">88,225</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">88,225</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.001%</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Sunir Kumar Kapoor *</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">10,000</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">10,000</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.000%</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Carlos </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Loring
  Mart&#237;nez de Irujo</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">59,390</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">59,390</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.001%</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Lourdes M&#225;iz Carro</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;"> &nbsp;</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Jos&#233; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Maldonado
  Ramos</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">38,761</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">38,761</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.001%</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Ana Cristina Peralta Moreno</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Juan </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Pi Llorens</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Susana Rodr&#237;guez Vidarte</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">26,980</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">26,980</font></font></p>
  </td>
 <td valign=top style="height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.000%</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="border:none;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Jan P. M. F. Verplancke</font></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top style="border:none;height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">TOTAL</font></b></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:double windowtext 2pt;height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">683,838</font></b></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:double windowtext 2pt;height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">0.000%</font></b></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:double windowtext 2pt;height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">683,838</font></b></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:double windowtext 2pt;height:1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">0.010%</font></b></font></p>
  </td>
 </tr>
</table></div>


<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">* Onur
Gen&#231; and Sunir Kumar Kapoor owned 106 and 10,000 shares in the form of ADSs,
respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA has not granted options on
its shares to any members of its administrative, supervisory or management
bodies.</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">232</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_238"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> March 25, 2019 the
Senior Management (excluding executive directors) owned an aggregate of BBVA
shares as shown in the table below:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:0pt;width:100%;">
 <tr style="height:4.0pt;">
  <td valign=bottom style="height:4.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Name</font></b></font></p>
  </div>

  </td>
 <td valign=bottom style="height:4.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Directly owned shares</font></b></font></p>
  </div>

  </td>
 <td valign=bottom style="height:4.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Indirectly owned shares</font></b></font></p>
  </div>

  </td>
 <td valign=bottom style="height:4.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">Total shares</font></b></font></p>
  </div>

  </td>
 <td valign=bottom style="height:4.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">% Capital Stock</font></b></font></p>
  </div>

  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Eduardo Arbizu Lostao</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">326,634</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">326,634</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.005</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Domingo Armengol Calvo </font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">102,798</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">102,798</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.002</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Mar&#237;a Jes&#250;s Arribas de Paz</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">73,181</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">73,181</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.001</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Carlos Casas Moreno</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">21,000</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">21,000</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.000</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Cristina de Parias Halc&#243;n</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">171,804</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">171,804</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.003</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Victoria del Castillo Marchese</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">12,033</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">12,033</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.000</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Ricardo Forcano Garc&#237;a</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">34,087</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">34,087</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.001</font></font></p>
  </td>
 </tr>
<tr style="height:15.3pt;">
  <td valign=top style="height:15.3pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Mar&#237;a Luisa G&#243;mez Bravo</font></font></p>
  </td>
 <td valign=top style="height:15.3pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">129,100</font></font></p>
  </td>
 <td valign=top style="height:15.3pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:15.3pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">129,100</font></font></p>
  </td>
 <td valign=top style="height:15.3pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.002</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Joaqu&#237;n M. Gortari D&#237;ez</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">48,712</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">48,712</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.001</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="background:white;height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Eduardo Osuna Osuna</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">16,853</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">16,853</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.000</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">David Puente Vicente</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">65,218</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">65,218</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.001</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Jorge S&#225;enz-Azc&#250;naga Carranza</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">94,682</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">94,682</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.001</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Jaime S&#225;enz de Tejada Pulido</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">332,160</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">211</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">332,371</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.005</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Rafael Salinas Mart&#237;nez de Lecea</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">185,936</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">19,530</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">205,466</font></font></p>
  </td>
 <td valign=top style="height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.003</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td valign=top style="border:none;border-bottom:solid windowtext 1.0pt;height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Derek Jensen White</font></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:solid windowtext 1.0pt;height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">47,761</font></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:solid windowtext 1.0pt;height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">-</font></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:solid windowtext 1.0pt;height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">47,761</font></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:solid windowtext 1.0pt;height:12.95pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.001</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top style="border:none;border-bottom:double windowtext 2pt;height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">TOTAL</font></b></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:double windowtext 2pt;height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">1,661,959</font></b></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:double windowtext 2pt;height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">19,741</font></b></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:double windowtext 2pt;height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">1,681,700</font></b></font></p>
  </td>
 <td valign=top style="border:none;border-bottom:double windowtext 2pt;height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">0.025</font></b></font></p>
  </td>
 </tr>
</table></div>


<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of March 22, 2019 a total of 19,638 employees (excluding
the members of the Senior Management and executive directors) owned 62,097,627
shares, which represented 0.93% of our capital stock.</font></font></p>

<h1 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;ITEM 7.&#160;&#160;&#160;&#160;&#160;
MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS </font></b></font></h1>

<p style="border:none;margin-bottom:10.0pt;margin-left:24.4pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-24.4pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A.</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;
&nbsp;</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Major Shareholders </font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On February 4, 2019, Blackrock, Inc. reported to the SEC
that, as of December 31, 2018, it beneficially owned 6.6% of BBVA&#8217;s common
stock.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of March 22, 2019, no other person, corporation or
government beneficially owned, directly or indirectly, five percent or more of
BBVA&#8217;s shares. BBVA&#8217;s major shareholders do not have voting rights which are
different from those held by the rest of its shareholders. To the extent known
to us, BBVA is not controlled, directly or indirectly, by any other
corporation, government or any other natural or legal person. As of March 22,
2019, there were 891,978 registered holders of BBVA&#8217;s shares, with an aggregate
of 6,667,886,580 shares, of which 658 shareholders with registered addresses in
the United States held a total of 1,338,586,920 shares (including shares
represented by American Depositary Shares evidenced by American Depositary
Receipts (&#8220;ADRs&#8221;)). Since certain of such shares and ADRs are held by nominees,
the foregoing figures are not representative of the number of beneficial holders.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">B.&#160;&#160;&#160;&#160;&#160; Related Party
Transactions</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Loans to Directors, Senior Management and Other Related
Parties</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">As
of December 31, 2018, 2017 and 2016, there were no loans granted by the Group&#8217;s
entities to the members of the Board of Directors. The amount availed against
the loans by the Group&#8217;s entities to the members of Senior Management
(excluding the executive directors) amounted to &#8364;3,783 thousand, &#8364;4,049
thousand and &#8364;5,573 thousand as of December 31, 2018, 2017 and 2016,
respectively.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">As
of December 31, 2018, 2017 and 2016, there were no loans granted to parties
related to the members of the Board of Directors. As of December 31, 2018, 2017
and 2016 the amount availed against the loans to parties related to members of
the Senior Management amounted to &#8364;69 thousand, &#8364;85 thousand and &#8364;98 thousand,
respectively.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">As
of December 31, 2018, 2017 and 2016, no guarantees had been granted to any
member of the Board of Directors.</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">233</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_239"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">As of December 31, 2018, 2017 and 2016,
the amount availed against guarantees arranged with members of the Senior
Management amounted to &#8364;38 thousand, &#8364;28 thousand and &#8364;28 thousand,
respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December
31, 2018, no guarantees had been granted with parties related to the members of
the Bank&#8217;s Board of Directors and the Senior Management. As of December 31,
2017 and 2016, the amount availed against guarantees arranged with parties
related to the members of the Bank&#8217;s Board of Directors and the Senior
Management totaled &#8364;8 thousand and &#8364;8 thousand, respectively.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Related Party Transactions in the
Ordinary Course of Business</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Loans extended to related parties (including guarantees)
were made in the ordinary course of business, on substantially the same terms,
including interest rates and collateral, as those prevailing at the time for
comparable transactions with other persons, and did not involve more than the
normal risk of collectability or present other unfavorable features.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA subsidiaries engage, on a
regular and routine basis, in a number of customary transactions with other
BBVA subsidiaries, including:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">overnight call deposits;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">time deposits;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">foreign exchange purchases and sales;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">derivative transactions, such as
forward purchases and sales;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">money market fund transfers;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">letters of credit for imports and
exports;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">financial guarantees;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">service level agreements; </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and other similar transactions
within the scope of the ordinary course of the banking business, such as loans
and other banking services to our shareholders, to employees of all levels, to
associates and to family members of all the above and to other BBVA non-banking
subsidiaries or affiliates. All these transactions have been made:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">in the ordinary course of business;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">on substantially the same terms,
including interest rates and collateral, as those prevailing at the time for
comparable transactions with other persons; and</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">did not involve more than the normal
risk of collectability or present other unfavorable features.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:24.4pt;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:-24.4pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">C</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&#160;&#160;&#160;&#160;&#160;
</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Interests of Experts and Counsel</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">234</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_240"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<h1 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 8.&#160;&#160;&#160;&#160;
FINANCIAL INFORMATION </font></b></font></h1>

<p style="border:none;margin-bottom:12.0pt;margin-left:24.4pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-24.4pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A.&#160;&#160;&#160;&#160;&#160; Consolidated Statements and
Other Financial Information </font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial Information </font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 18</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Dividends </font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The table below sets forth the gross amount of interim,
final and total cash dividends paid by BBVA on its shares for the years 2014 to
2018. The rate used to convert euro amounts to U.S. dollars was the noon buying
rate at the end of each year.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td valign=bottom width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=10 valign=bottom width=86% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Per Share </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=18% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">First Interim </font></u></b></font></p>
  </td>
 <td colspan=2 valign=bottom width=18% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Second Interim </font></u></b></font></p>
  </td>
 <td colspan=2 valign=bottom width=17% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Third Interim </font></u></b></font></p>
  </td>
 <td colspan=2 valign=bottom width=16% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Final </font></u></b></font></p>
  </td>
 <td colspan=2 valign=bottom width=17% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><u><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Total </font></u></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364;</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364;</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364;</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364;</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364;</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=14% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2014</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.080</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.097</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.080</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.097</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=14% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2015</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.080</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.087</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.080</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.087</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.160</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.174</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=14% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2016</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.080</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.084</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.080</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.084</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.160</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.169</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=14% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2017</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.090</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.108</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.150</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.185</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.240</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.293</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=14% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2018</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.100</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.115</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.160</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.183</font></font></p>
  </td>
 <td nowrap width=9% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8364; 0.260</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">$ 0.298</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(*)&#160;
</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">In execution of the 2014,
2015, 2016, 2017 and 2018 &#8220;Dividend Option&#8221; schemes described under &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Item 4.
Information on the Company&#8212;Business Overview &#8212;Supervision and
Regulation&#8212;Dividends</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8221; approved by the shareholders in the respective
general shareholders&#8217; meetings, BBVA shareholders were given the option to
receive their remuneration in newly issued ordinary shares or in cash.</font></font><font style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">235</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_241"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On February 1, 2017 BBVA updated its shareholders&#8217;
remuneration policy in order to implement a fully in cash remuneration policy
after the execution of the 2017 &#8220;Dividend Option&#8221;, which took place during
April 2017 (see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 4. Information on the Company&#8212;Business
Overview&#8212;Supervision and Regulation&#8212;Dividends</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). This fully in cash
shareholders&#8217; remuneration policy is expected to be composed, for each
financial year, of an interim dividend and a final dividend, subject to any
applicable restrictions and authorizations. On April 10, 2019, the final
dividend for 2018 will be paid. The rate used to convert euro amounts to U.S.
dollars was 1.130 as of March 22, 2019.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We have paid annual dividends to our shareholders since the date we were
founded. The cash dividend for a year is proposed by the Board of Directors to
be approved by the annual general shareholders&#8217; meeting following the end of
the year to which it relates and includes any interim dividend that may be
passed by the Board of Directors during that period. The scrip dividends, if
applicable, are proposed for approval of our shareholders in the annual general
shareholders&#8217; meeting, for being implemented during a period of one year from
their approval. Interim and final dividends are payable to holders of record on
the record date for the dividend payment date. Unclaimed cash dividends revert
to BBVA five years after declaration. For additional information see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item
4. Information on the Company&#8212;Business Overview&#8212;Supervision and
Regulation&#8212;Dividends</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">While we expect to declare and pay dividends on our shares in the future,
the payment of dividends will depend upon the results of BBVA, market
conditions, the regulatory framework, the recommendations or restrictions
regarding dividends that may be adopted by domestic or European regulatory
bodies or authorities and other factors.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Subject to the terms of the deposit agreement entered into with the Bank
of New York Mellon, holders of ADSs are entitled to receive dividends (in cash
or scrip, as applicable) attributable to the shares represented by the ADSs
evidenced by ADRs to the same extent as if they were holders of such shares.</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">236</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_242"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA may not pay
dividends except out of its annual results and its distributable reserves,
after taking into account the applicable capital adequacy requirements and any
recommendations on payment of dividends, and any other required authorization
or restriction, if applicable. Capital adequacy requirements are applied on
both a consolidated and individual basis. See </font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 4. Information on the
Company&#8212; Business Overview&#8212;Supervision and Regulation&#8212;Capital Requirements&#8221; </font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and&nbsp;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
&#8220;Item 5. Operating and Financial Review and Prospects&#8212;Liquidity and Capital
Resources&#8212;Capital&#8221;. </font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under applicable capital adequacy requirements, we
estimate that as of December&nbsp;31, 2018, BBVA had approximately &#8364;13.1
billion of reserves in excess of applicable capital and reserve requirements
(based on an 11.95% phased-in total capital minimum requirement)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Legal Proceedings</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><a name="_cp_text_1_2668"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA and its subsidiaries
are involved in a number of legal and regulatory actions and proceedings,
including legal claims and proceedings, civil and criminal regulatory
proceedings, governmental investigations and proceedings, tax proceedings and
other proceedings, in jurisdictions around the world.&#160; Legal and regulatory
actions and proceedings are subject to many uncertainties, and their outcomes,
including the timing thereof, the amount of fines or settlements or the form of
any settlements, or changes in business practices we may need to introduce as a
result thereof, any of which may be material, are often difficult to predict,
particularly in the early stages of a particular legal or regulatory matter.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><a name="_cp_text_1_2669"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">As of the date hereof, the Group is involved in a number of
legal and regulatory actions and proceedings in various jurisdictions around
the world (including, among others, Spain, Mexico and the United States), the
adverse resolution of which may also adversely impact the Group. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">Item
3. Key Information&#8212;Risk Factors&#8212;Legal, Regulatory and Compliance Risks&#8212;The
Group is party to a number of legal and regulatory actions and proceedings</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#8221;
and &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">Item 3. Key Information&#8212;Risk Factors&#8212;Legal, Regulatory and Compliance
Risks&#8212;We may be affected by actions that are incompatible with our ethics and
compliance standards, and by our failure to timely detect or remedy any such
actions</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><a name="_cp_text_1_2670"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA can provide no assurance that the legal and regulatory
actions and proceedings to which it is subject, or to which it may become
subject in the future or otherwise affected by, will not, if resolved
adversely, result in a material adverse effect on the Group&#8217;s financial
position, results of operations or liquidity.</font></font></p>



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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:12.0pt;margin-left:24.4pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-24.4pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">B.&#160;&#160;&#160;&#160;&#160;
Significant Changes</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">No significant change has
occurred since the date of the Consolidated Financial Statements other than
those mentioned in this Annual Report or our Consolidated Financial Statements.</font></font></p>

<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 9.&#160;&#160;&#160;&#160;&#160;&#160; THE
OFFER AND LISTING</font></b></font></h1>

<p style="border:none;margin-bottom:10.0pt;margin-left:24.4pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-24.4pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A.&#160;&#160;&#160;&#160; Offer and Listing Details</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA&#8217;s shares are listed on the Madrid, Bilbao, Barcelona
and Valencia stock exchanges (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish Stock Exchanges</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and on the
computerized trading system of the Spanish Stock Exchanges (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Automated
Quotation System</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) under the symbol &#8220;BBVA&#8221;. BBVA&#8217;s shares are also listed
on the Mexican and London stock exchanges as well as quoted on SEAQ
International in London. BBVA&#8217;s shares are listed on the New York Stock
Exchange as American Depositary Shares (ADSs) under the symbol &#8220;BBVA&#8221;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ADSs are listed on the New York Stock Exchange and are also
traded on the Lima (Peru) Stock Exchange, by virtue of an exchange agreement
entered into between these two exchanges. Each ADS represents the right to
receive one share. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fluctuations in the exchange rate between the euro and the
dollar will affect the dollar equivalent of the euro price of BBVA&#8217;s shares on
the Spanish Stock Exchanges and the price of BBVA&#8217;s ADSs on the New York Stock
Exchange. Cash dividends are paid by BBVA in euro, and exchange rate
fluctuations between the euro and the dollar will affect the dollar amounts
received by holders of ADRs on conversion by The Bank of New York Mellon (acting
as depositary) of cash dividends on the shares underlying the ADSs evidenced by
such ADRs. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, State Street Bank and Trust Co.,
The Bank of New York Mellon, SA NV and Chase Nominees Ltd in their capacity as
international custodian/depositary banks, held 10.69%, 2.31% and 6.33% of BBVA&#8217;s
common stock, respectively. Of said positions held by the custodian banks, BBVA
is not aware of any individual shareholders with direct or indirect holdings
greater than or equal to 3% of BBVA common stock outstanding. See also &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item
7. Major Shareholders and Related Party Transactions&#8212;Major Shareholders</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">From January&nbsp;1, 2018 through December&nbsp;31, 2018
the percentage of outstanding shares held by BBVA and its affiliates ranged
between </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.200</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% and 0.850%, calculated on a daily basis. As of February
28, 2019, the percentage of outstanding shares held by BBVA and its affiliates
was </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.500</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">%.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;page-break-after:avoid;text-align:justify;"><font color=#222222 style="background:white;border:none;"><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Securities Trading in Spain</font></b></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">The Spanish securities market for equity securities consists
of the Automated Quotation System and the four stock exchanges located in
Madrid, Bilbao, Barcelona and Valencia. During 2018, the Automated Quotation
System accounted for the majority of the total trading volume of equity
securities on the Spanish Stock Exchanges.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Automated Quotation System</font></i></font><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">. The Automated Quotation
System (</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Sistema de Interconexi&#243;n Burs&#225;til</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">) links the four local
exchanges, providing those securities listed on it with a uniform continuous
market that eliminates certain of the differences among the local exchanges. The
principal feature of the system is the computerized matching of buy and sell
orders at the time of entry of the order. Each order is executed as soon as a
matching order is entered, but can be modified or canceled until executed. The
activity of the market can be continuously monitored by investors and brokers.
The Automated Quotation System is operated and regulated by Sociedad de Bolsas,
S.A. (&#8220;</font><b><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Sociedad de Bolsas</font></i></b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;), a corporation owned by the companies
that manage the local exchanges. All trades on the Automated Quotation System
must be placed through a bank, brokerage firm, an official stock broker or a
dealer firm member of a Spanish Stock Exchange directly. Since January&nbsp;1,
2000, Spanish banks have been allowed to place trades on the Automated Quotation
System and have been allowed to become members of the Spanish Stock Exchanges.
We are currently a member of the four Spanish Stock Exchanges and can trade
through the Automated Quotation System.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Sociedad de Bolsas
reinstated the Operating Rules of the Spanish Automated Quotation System by
means of Sociedad de Bolsas Circular 1/2017, of December 18, which came into
effect January 3, 2018. Changes introduced in such Operating Rules include
changes to the way trading is technically undertaken (e.g. by introducing new
types of orders such as &#8220;hidden orders&#8221; and &#8220;combined blocks&#8221;, VWAP trades and
midpoint orders), the suppression of the New Market segment and the
introduction of a Market Making scheme as per MiFID II standards.&nbsp;BBVA, as
an active market member in the Spanish market has adapted its technical means
and procedures to such changes.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">In a pre-opening session held from 8:30 a.m. to 9:00 a.m.
each trading day, an opening price is established for each security traded on
the Automated Quotation System based on orders placed at that time. The regime
concerning opening prices was changed by an internal rule issued by
the&nbsp;Sociedad de Bolsas. In this new regime all references to maximum
changes in share prices are substituted by static and dynamic price ranges for
each listed share, calculated on the basis of the most recent historical
volatility of each share, and made publicly available and updated on a regular
basis by the&nbsp;Sociedad de Bolsas. The computerized trading hours are from
9:00 a.m. to 5:30 p.m., during which time the trading price of a security is
permitted to vary by up to the stated levels. If, during the open session, the
quoted price of a share exceeds these static or dynamic price ranges,
Volatility Auctions are triggered, resulting in new static or dynamic price
ranges being set for the share object of the same. Between 5:30 p.m. and 5:35
p.m. a closing price is established for each security through an auction system
similar to the one held for the pre-opening early in the morning.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Trading hours for block trades (i.e., operations involving a
large number of shares) are also from 9:00 a.m. to 5:30 p.m.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Between 5:30 p.m. and 8:00 p.m., special operations,
whether&nbsp;&#8220;authorized&#8221;&nbsp;or &#8220;communicated&#8221;,&nbsp;can take place outside
the computerized matching system of the&nbsp;</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Sociedad de Bolsas&nbsp;</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">if
they fulfill certain requirements. In such respect &#8220;communicated&#8221; special
operations</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">(those that do not</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">need the prior
authorization of the&nbsp;</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Sociedad de Bolsas</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">) can be traded if all of
the following requirements are met: (i) the trade price of the share must be
within the range of 5% above the higher of the average price and closing price
for the day and 5% below the lower of the average price and closing price for
the day; (ii) the market member executing the trade must have previously
covered certain positions in securities and cash before executing the trade;
and (iii) the size of the trade must involve at least &#8364;300,000 and represent at
least a 20% of the average daily trading volume of the shares in the&nbsp;</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Automated
Quotation System</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&nbsp;during the preceding three months. If any of the
aforementioned requirements is not met, a special operation may still take
place, but it will need to take the form of&nbsp;&#8220;authorized&#8221; special operation
(i.e., those needing the prior authorization of the&nbsp;</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Sociedad de Bolsas</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">).
Such authorization will only be upheld if any of the following requirements are
met:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">the trade involves more than &#8364;1.5&nbsp;million
and more than 40% of the average daily volume of the stock during the preceding
three months;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">the transaction derives from a merger or spin-off
process or from the reorganization of a group of companies;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">the transaction is executed for the purposes of
settling a litigation or completing a complex group of contracts; or</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">the&nbsp;Sociedad de Bolsas&nbsp;finds other
justifiable cause.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Information
with respect to the computerized trades between 9:00 a.m. and 5:30 p.m. is made
public immediately, and information with respect to trades outside the
computerized matching system is reported to the&nbsp;</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Sociedad de Bolsas</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&nbsp;by
the end of the trading day and published in the&nbsp;</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Bolet&#237;n de
Cotizaci&#243;n&nbsp;</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">and in the computer system by the beginning of the next
trading day.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Sociedad
de Bolsas</font></i></font><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&nbsp;is
also the manager of the IBEX 35&#174; Index. This index is made up by the 35 most
liquid securities traded on the Spanish Market and, technically, it is a price
index that is weighted by capitalization and adjusted according to the free
float of each company comprised in the index. Apart from its quotation on the
four Spanish Exchanges, BBVA is also currently included in the IBEX 35&#174; Index.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="background:white;border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;page-break-after:avoid;text-align:justify;"><font color=#222222 style="background:white;border:none;"><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Clearing and Settlement System</font></b></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">On April 1, 2003, by virtue of Law 44/2002 and of Order ECO
689/2003 of March 27, 2003 approved by the Spanish Ministry of Economy, the
integration of the two main existing book-entry settlement systems existing in
Spain at the time (the equity settlement system&nbsp;</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Servicio de
Compensaci&#243;n y Liquidaci&#243;n de Valores</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&nbsp;(&#8220;</font><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">SCLV</font></b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;) and the Public
Debt settlement system&nbsp;</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Central de Anotaciones de Deuda del Estado</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&nbsp;(&#8220;</font><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">CADE</font></b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;))&nbsp;took
place</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">.&nbsp;</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">As a result of this integration,</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">a&nbsp;single
entity, known as&nbsp;</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Sociedad de Gesti&#243;n de los Sistemas de Registro
Compensaci&#243;n y Liquidaci&#243;n de Valores</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&nbsp;(&#8220;</font><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Iberclear</font></b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;) assumed the
functions formerly performed by SCLV and CADE according to the legal regime
then stated in article 44 bis of the Spanish Securities Market Act (Law
24/1988).</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Notwithstanding the above, rules concerning the book-entry
settlement systems enacted before this date by SCLV and the Bank of Spain, as
former manager of CADE, continued in force, but any reference to the SCLV or
CADE was deemed to be substituted by Iberclear.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">In addition, and according to Law 41/1999, Iberclear currently
manages the ARCO Securities settlement system (the &#8220;</font><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">ARCO System</font></b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;) for
securities in book-entry form listed on the four Spanish Stock Exchanges, on
the Spanish Public Debt Book-Entry Market, on &#8220;</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">AIAF Mercado de Renta Fija</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;,
or on other Multilateral Trading Facilities that have appointed Iberclear for
such purposes. Cash settlement for all systems is managed through the
TARGET2-Banco de Espa&#241;a payment system.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Laws 32/2011 and 11/2015 amended the Spanish Securities
Market Act and Royal Decree 878/2015 replaced Royal Decree 116/1992 from
February 3, 2016, introducing changes to the Spanish clearing, settlement and
book-entry registry procedures applicable to securities transactions to allow
post-trading Spanish systems to integrate into the TARGET2 Securities System
(T2S). The project to reform Spain&#8217;s clearing, settlement and registry system
and connect it to the T2S (the &#8220;</font><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Reform</font></b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;) introduced significant changes
that affected all classes of securities and all post-trade activities.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">The Reform was implemented
in two phases:</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">The first phase took place from April 27, 2016 and involved
setting up a new system for equities including all the changes envisaged in the
Reform, encompassing the incorporation of central counterparty clearing
(performed by, among others, BME Clearing, S.A.U.) in a post-trading scheme
compatible with the T2S (including with respect to messages, account structure,
definition of operations, etc.).&nbsp;</font></font><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=ES style="background:white;font-size:10.0pt;">Accordingly, the SCLV (Servicio de Compensaci&#243;n y
Liquidaci&#243;n de Valores) platform was discontinued.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">The T+3 settlement cycle for trades executed in trading
venues, affecting mainly equities, was reduced to T+2 from October 2016, in
line with what is set forth in European Regulation 909/2014, of July 23 on
improving securities settlement in the European Union and on Central Securities
Depositories (&#8220;</font><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">CSDR</font></b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;).</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">The CADE platform continued to operate unchanged until the
last quarter of 2017, and cash settlements in the new system continue to be
made through the TARGET2-Bank of Spain cash accounts.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">The second phase started on September 18, 2017, when
Iberclear successfully connected itself to T2S. At this time, fixed-income
securities were transferred to the new system (being the CADE discontinued), as
well as equity securities, with both types of securities beginning to be also
settled in accordance with the procedures, formats and time periods of the T2S
and under the ARCO System. The Reform culminated with the successful migration
to T2S.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">The latest amendments to Iberclear&#8217;s Rulebook reflecting the
Reform were officially published in the Spanish Official Gazette (May 3 and
August 18, 2016 and September 14, 2017) while each Spanish Stock Exchange has
approved its respective new rulebook between April 2016 and December 2017.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">During the last quarter of 2017, Iberclear filed for
authorization as Central Securities Depository pursuant to CSDR.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="background:white;border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Under Law 41/1999 and Royal
Decree 878/2015 (which replaced Royal Decree 116/1992 on February 3, 2016),
transactions carried out on the Spanish Stock Exchanges are cleared and settled
through Iberclear and its participants (each an entidad participante), through
the ARCO System. Only Iberclear participants to this ARCO System are entitled
to use it, with participation restricted to credit entities, investment firms
authorized to render custody services, certain public bodies, and Central
Securities Depositories and Central Counterparties authorized under their
respective European Union Regulations. BBVA is currently a participant in
Iberclear. Iberclear and its participants are responsible for maintaining
records of purchases and sales under the book-entry system. In order to be
listed, shares of Spanish companies must be held in book-entry form. Iberclear,
maintains a &#8220;two-step&#8221; book-entry registry reflecting the number of shares held
by each of its participants as well as the amount of such shares held on behalf
of beneficial owners. Each participant, in turn, maintains a registry of the
owners of such shares. Spanish law considers the legal owner of the shares to
be:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">the participant appearing in the records of
Iberclear as holding the relevant shares in its own name, or</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">the investor appearing in the records of the
participant as holding the shares.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Obtaining legal title to shares of a company listed on a
Spanish Stock Exchange requires the participation of an investment firm, bank
or other entity authorized under Spanish law to record the transfer of shares
in book-entry form in its capacity as Iberclear participant for the equity
securities settlement system. To evidence title to shares, at the owner&#8217;s
request the relevant participant entity must issue a certificate of ownership.
In the event the owner is a participant entity, Iberclear is in charge of the
issuance of the certificate with respect to the shares held in the participant
entity&#8217;s own name.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">According to the Securities Market Act, brokerage commissions
are not regulated. Brokers&#8217; fees, to the extent charged, will apply upon
transfer of title of our shares from the depositary to a holder of ADSs, and
upon any later sale of such shares by such holder. Transfers of ADSs do not
require the participation of a member of a Spanish Stock Exchange. The deposit
agreement provides that holders depositing our shares with the depositary in
exchange for ADSs or withdrawing our shares in exchange for ADSs will pay the
fees of the official stockbroker or other person or entity authorized under
Spanish law applicable both to such holder and to the depositary.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;page-break-after:avoid;text-align:justify;"><font color=#222222 style="background:white;border:none;"><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Securities Market
Legislation</font></b></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">The Securities Markets Act
was enacted in 1988 with the purpose of reforming the organization and
supervision of the Spanish securities markets. This legislation and the
regulation implementing it:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">established an independent regulatory authority,
the Spanish Securities Market Commission (</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Comisi&#243;n Nacional del Mercado de
Valores</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;"> or &#8220;</font><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">CNMV</font></b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;), to supervise the securities markets;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">established a framework for the regulation of
trading practices, tender offers and insider trading;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">required stock exchange members to be corporate
entities;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">required companies listed on a Spanish Stock
Exchange to file annual audited financial statements and to make public
quarterly financial information;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">established the legal framework for the Automated
Quotation System;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">exempted the sale of securities from transfer and
value added taxes;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">deregulated brokerage commissions; and</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">provided for transfer of shares by book-entry or
by delivery of evidence of title.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">On February 14, 1992, Royal
Decree No. 116/92 established the clearance and settlement system and the
book-entry system, and required that all companies listed on a Spanish Stock
Exchange adopt the book-entry system. On February 3, 2016 Royal Decree 878/2015
came into force and replaced Royal Decree 116/1992 (Royal Decree 827/2017, of
September 1 and Royal Decree 1464/2018, of December 21, amended Royal Decree
878/2015 by reflecting certain aspects of the Reform and of MiFID II).</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">On April 12, 2007, the Spanish Congress approved Law 6/2007,
which amends the Securities Markets Act in order to adapt it to Directive
2004/25/EC on takeover bids, and Directive 2004/109/EC on the harmonization of
transparency requirements in relation to information about issuers whose
securities are admitted to trading on a regulated market (amending Directive
2001/34/EC). Regarding the transparency of listed companies, Law 6/2007 amended
the reporting requirements and the disclosure regime, and established changes
in the supervision system. On the takeover bids side, Law 6/2007 has
established the cases in which a company must launch a takeover bid and the
ownership thresholds at which a takeover bid must be launched. It also
regulates conduct rules for the board of directors of target companies and the
squeeze-out and sell-out when a 90% of the share capital is held after a
takeover bid. Additionally, Law 6/2007 was further developed by Royal Decree
1362/2007, on transparency requirements for issuers of listed securities, which
was subsequently amended. See &#8220;&#8212;</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Trading by the Bank and its Affiliates in
the Shares&#8221;</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">On December 19, 2007, the Spanish Congress approved Law
47/2007, which amends the Securities Markets Act in order to adapt it to
Directive 2004/37/EC on markets in financial instruments (MiFID), Directive
2006/49/EC on the capital adequacy of investment firms and credit institutions,
and Directive 2006/73/EC implementing Directive 2004/39/EC with respect to
organizational requirements and operating conditions for investment firms and
defined terms for the purposes of that Directive. Further MiFID implementation
was introduced by Royal Decree 217/2008. Royal Decree 217/2008 has been amended
from time to time, including in 2018 by Royal Decree 1464/2018, of December 21,
in order to adapt it to MiFID II rules.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">The Regulation of the European Parliament and of the Council
on short selling and certain aspects of credit default swaps (EU) No 236/2012
(Regulation) has been in force since March 25, 2012 and became directly
effective in EU countries from November 1, 2012. This Regulation introduced a
pan-European regulatory framework for dealing with short selling and requires
persons to disclose short positions in relation to shares of EU listed
companies and EU sovereign debt. For significant net short positions in shares
of EU listed companies, these regulations create a two-tier reporting model:
(i) when a net short position reaches 0.20% of an issuer&#8217;s share capital (and
at every 0.1% thereafter), such position must be privately reported to the
relevant regulator; and (ii) when such position reaches 0.50% (and at every
0.1% thereafter) of an issuer&#8217;s share capital, apart from being disclosed to
the regulators, such position must be publicly reported to the market.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Law 9/2012 and Royal Decree 1698/2012 implemented European
Directive 2010/73/EU (which amended Directive 2003/71/EC, on the prospectus to
be published when securities are offered to the public or admitted to trading
and Directive 2004/109/EC, on the harmonization of transparency requirements in
relation to information about issuers whose securities are admitted to trading
on a regulated market). The main changes to requirements applicable to
prospectuses introduced by Regulation (EU) 2017/1129 of the European Parliament
and of the Council, of October 14, will come into effect on July 21, 2019.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Directive 2014/65/EU (MiFID II) of the European Parliament
and of the Council of May 15, 2014 on markets in financial instruments and
amending Directive 2002/92/EC and Directive 2011/61/EU, and Regulation (EU)
600/2014 of the European Parliament and Council of May 15, 2014 on markets in
financial instruments and amending Regulation (EU) 648/2012 (MiFIR), were
published on June 12, 2014 and, when fully implemented and in force. will
affect the Spanish securities market legislation, markets and infrastructures,
implying higher compliance costs for financial institutions. MiFID II has been
implemented into Spanish Law by Royal Decree-Law 21/2017, of December 29, by
Royal Decree-Law 14/2018, of September 28, and by Royal Decree 1464/2018, of
December 21.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Royal
Legislative Decree 4/2015, of October 23, approved the reinstated text of the
Securities Markets Act and it has also been affected and amended by the
aforementioned MiFID II implementation rules.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="background:white;border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;page-break-after:avoid;text-align:justify;"><font color=#222222 style="background:white;border:none;"><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Trading by the Bank and its Affiliates in the Shares</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Trading by subsidiaries in their parent companies shares is
restricted by the Corporate Enterprises Act.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Neither BBVA nor its affiliates may purchase BBVA&#8217;s shares
unless the making of such purchases is authorized at a meeting of BBVA&#8217;s
shareholders by means of a resolution establishing, among other matters, the
maximum number of shares to be acquired and the authorization term, which
cannot exceed five years. Restricted reserves equal to the purchase price of
any shares that are purchased by BBVA or its subsidiaries must be made by the
purchasing entity. The total number of shares held by BBVA and its subsidiaries
may not exceed 10% of BBVA&#8217;s total share capital, as per the treasury stock
limits set forth in the Corporate Enterprises Act (Royal Legislative Decree
1/2010). It is the practice of Spanish banking groups, including the BBVA
Group, to establish subsidiaries to trade in their parent company&#8217;s shares in
order to meet imbalances of supply and demand, to provide liquidity (especially
for trades by their customers) and to modulate swings in the market price of their
parent company&#8217;s shares.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;page-break-after:avoid;text-align:justify;"><font color=#222222 style="background:white;border:none;"><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Spanish Financial
Transaction Tax Bill</font></b></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">During a meeting
held on January 18, 2019, the Spanish council of ministers approved the Bill on
the Financial Transaction Tax, which is based in part on the Commission&#8217;s
Proposal. The Spanish FTT Bill introduces a new indirect tax, amounting to
0.2%, to be charged on acquisitions of shares in Spanish companies, regardless
of the tax residence of the participants in such transactions, provided that
such companies are listed and their respective market capitalization is above
&#8364;1,000 million. The bill is currently under discussion in the Spanish
Parliament, and while there is no assurance it will be approved due to the
forthcoming general elections, if it did, it would affect any purchaser of BBVA&#8217;s
shares not falling under an exemption, and likely, BBVA itself as purchaser of
its treasury stock.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;page-break-after:avoid;text-align:justify;"><font color=#222222 style="background:white;border:none;"><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">Reporting Requirements</font></b></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree
1362/2007, as amended, requires that any person or entity which acquires or
transfers shares and as a consequence the number of voting rights held exceeds,
reaches or is below the thresholds of 3%, 5%, 10%, 15%, 20%, 25%, 30%, 35%,
40%, 45%, 50%, 60%, 70%, 75%, 80% and 90% of the capital stock of a company
listed on a Spanish Stock Exchange must, within four stock exchange business
days after that acquisition or transfer, report it to such company, and to the
CNMV. This duty to report the holding of a significant stake is applicable not
only to the acquisitions and transfers in the terms described above, but also
to those cases in which in the absence of an acquisition or transfer of shares,
the ratio of an individual&#8217;s voting rights exceeds, reaches or is below the
thresholds that trigger the duty to report, as a consequence of an alteration
in the total number of voting rights of an issuer.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, any company listed on a Spanish Stock Exchange must report
on a non-public basis to the CNMV, within four Stock Exchange business days,
any acquisition by such company (or an affiliate) of the company&#8217;s own shares
if such acquisition, together with any previous one from the date of the last
communication, exceeds 1% of its capital stock, regardless of the balance
retained. Members of the board of directors must report the ratio of voting
rights held at the time of their appointment as members of the board, when they
are ceased as members, and each time they transfer or acquire share capital of
a company listed on the Spanish Stock Exchanges, regardless of the size of the
transaction. Additionally, since we are a credit entity, any individual or
company who intends to acquire a significant participation in BBVA&#8217;s share
capital must obtain prior approval from the Bank of Spain in order to carry out
the transaction. See&nbsp;&#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 10. Additional Information&#8212;Exchange
Controls&#8212;Restrictions on Acquisitions of Shares</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree 1362/2007 also establishes reporting requirements in
connection with any entity acting from a tax haven or a country where no
securities regulatory commission exists, in which case the threshold of three
percent is reduced to one percent.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree 1362/2007 was amended in 2015 in order to,
among other matters, include some changes to the reporting requirements
applicable to major shareholdings. In particular, cash settled instruments
creating long positions on underlying listed shares shall be disclosed if the
specified shareholding threshold is reached or exceeded; cash holdings and
holdings as a result of financial instruments shall be aggregated for
disclosure purposes and a disclosure exemption for shareholding positions held
by financial entities in their trading books is available.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regulation (EU) No 596/2014 of the European Parliament and of the Council
of April 16, 2014 on market abuse (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MAR</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and its implementing
regulations entered into force on July 3, 2016, involving a number of changes
for BBVA as a listed issuer, including in relation to areas such as disclosure
of inside information to the market, maintenance of insider lists and
disclosure of restrictions on dealings by directors and persons discharging
managerial responsibilities.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Through Royal Decree-Law 19/2018
of November 23, on payment services and other urgent financial measures, the
consolidated text of the Securities Market Act has been completely adapted to
the European MAR framework, including the following changes:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">the Spanish legislator has opted for certain
solutions among those permitted by the European MAR framework in certain
specific cases;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">several amendments have been introduced in the
sanctioning regime on market abuse (inside information and market
manipulation); and </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#222222 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#222222 face="Times New Roman,serif" style="background:white;border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">some special provisions applicable to listed
companies in this area which were not compatible with this European regulatory
framework or not consistent with the objective of MAR of achieving full
harmonization throughout the European Union have been expressly repealed.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Each Spanish bank is required to provide to the Bank of
Spain, within one month following each natural quarter, a list of all the
bank&#8217;s shareholders that are financial institutions and other non-financial
institution shareholders owning at least 0.25% of a bank&#8217;s total share capital.
Furthermore, the banks are required to inform the Bank of Spain, as soon as
they become aware, of any acquisitions or disposals of holdings in their
capital that cross any of the levels indicated in Articles 16 (at least 10% of
the capital or of the voting rights of the credit institution), 17 (either the
percentage of voting rights or capital held is equal to or greater than 20%,
30% or 50%, or the acquisition entails acquiring control of the credit
institution) and 21 (the percentage of voting rights or of capital held falls
below 20%, 30% or 50% or the disposal entails the loss of control of the credit
institution) of Law 10/2014, of June 26, 2014.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax Requirements</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">According to Law 10/2014, an issuer&#8217;s parent company (credit entity or
listed company) is required, on an annual basis, to provide the Spanish tax
authorities with the following: (i) disclosure of information regarding those
investors with Spanish Tax residency obtaining income from securities and (ii)
the amount of income obtained by them in each period.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">B.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;
&nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Plan of distribution</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">C.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;
&nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Markets</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 9. The Offer and Listing&#8221;.</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">D.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;
&nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Selling Shareholders</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">E.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;
&nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Dilution</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">F.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Expenses
of the Issue</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<h1 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 10.</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ADDITIONAL
INFORMATION</font></b></font></h1>

<p style="border:none;margin-bottom:10.0pt;margin-left:24.4pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-24.4pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A.&#160;&#160; Share Capital </font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:24.4pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-24.4pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">B.&#160;&#160; Memorandum and Articles of Association</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish law and BBVA&#8217;s Bylaws are the main sources of
regulation affecting the Company. All rights and obligations of BBVA&#8217;s
shareholders are contained in BBVA&#8217;s Bylaws and in Spanish law. Pursuant to
Royal Decree 84/2015<a name="_cp_text_1_1093"></a> of February 13, implementing
Law 10/2014, amendments of the Bylaws of a bank are subject to notice or prior
authorization of the Bank of Spain.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Registry and Company&#8217;s Objects and
Purposes</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA is registered with the Commercial Registry of Bizkaia
(Spain). Its registration number at the Commercial Registry of Bizkaia is
volume 2,083, Company section folio 1, sheet BI-17-1, 1st entry. Its corporate
purpose is to engage in all kinds of activities, operations, acts, contracts
and services within the banking business or directly or indirectly related to
it that are permitted or not prohibited by prevailing provisions and ancillary
activities. Its corporate purpose also includes the acquisition, holding,
utilization and divestment of securities, public offerings to buy and sell
securities, and any kind of holdings in any company or enterprise. BBVA&#8217;s
corporate purpose is contained in Article 3 of BBVA&#8217;s Bylaws.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Certain Powers of the Board of
Directors</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In general, provisions regarding directors are contained in
our Bylaws. Also, our Board Regulations govern the internal </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">procedures</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and the
operation of the Board of Directors and its Committees and directors&#8217; rights
and duties as </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">described</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> in their charter. The referred Board Regulations limit a
director&#8217;s right to vote on a proposal, arrangement or contract in which the
director is materially interested and require retirement of directors at a
certain age. Directors are not required to hold shares of BBVA in order to be
appointed as such. As regards compensation in shares for executive directors,
please see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 6. Directors, Senior Management and Employees&#8212;Compensation&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Lastly, the Board Regulations contain a series of ethical
standards. For more information please see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 6. Directors, Senior
Management and Employees&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Certain Provisions Regarding
Privileged Shares</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Bylaws authorize us to </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">issue</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> ordinary, non-voting, redeemable and privileged shares. As
of the date of the filing of this Annual Report, we have no non-voting,
redeemable or privileged shares outstanding.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Company may issue shares that confer some privilege
over ordinary shares under the legally established terms and conditions,
complying with the formalities prescribed for amending our Bylaws.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Redemption of shares may only occur according to the terms
set forth when they are issued. Redeemable shares must be fully paid-up at the
time of their subscription. If the redemption right was attributed exclusively
to the issuer, it may not be enforced until three years have elapsed since the
issue. Redemption of redeemable shares must be charged to earnings or to free
reserves or be made with the proceeds of a new share issue made under a
resolution from the <a name="_cp_text_1_1099"></a>general shareholders&#8217; meeting or,
as the case may be, from the Board of Directors, for the purpose of financing
the redemption transaction. If the redemption of these shares is charged to
earnings or to free reserves, the Company must set up a reserve for the amount
of the nominal value of the shares redeemed. If the redemption is not charged
to earnings or free reserves or made with the proceeds of the issuance of new
shares, it may only be carried out under the requirements established for the
reduction of share capital by refunding contributions.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Holders of non-voting shares,
if issued, are entitled to receive a minimum fixed or variable annual dividend,
as resolved by the <a name="_cp_text_1_1101"></a>general shareholders&#8217; meeting and/or
the Board of Directors at the time of deciding to issue the shares. The right
of non-voting shares to accumulate unpaid dividends whenever funds to pay
dividends are not available, any preemptive subscription rights associated with
non-voting shares, and the ability of holders of non-voting shares to recover
voting rights also must be established at the time of deciding to issue the
shares. Once the minimum dividend has been agreed upon, holders of non-voting
shares will be entitled to the same dividend as holders of ordinary shares.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Certain Provisions Regarding
Shareholders Rights</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of the date of the filing of this Annual Report, our
capital is comprised of one class of ordinary shares, all of which have the
same rights.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Once the allocation requirements established by law and in
our Bylaws have been covered, dividends may be paid out to shareholders and
charged to the year&#8217;s profit or to unrestricted reserves, in proportion to the
capital they may have paid up, provided the value of the total net assets is
not, or as a result of such distribution would not be, less than the share
capital. Shareholders will participate in the distribution of earnings in
proportion to their capital paid-up. The right to collect a dividend lapses
after five years as of the date in which it was first available to the
shareholders. Shareholders also have the right to participate in proportion to
their capital paid-up in any distribution of net assets resulting from our
liquidation. For more information regarding dividends see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 4.
Information on the Company&#8212;Business Overview&#8212;Supervision and
Regulation&#8212;Dividends</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:28.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Each voting share will confer the right to one vote on the
holder present or represented at the <a name="_cp_text_1_1103"></a>general
shareholders&#8217; meeting. However, unpaid shares with respect to which a
shareholder is in default of the resolutions of the Board of Directors relating
to their payment will not be entitled to vote. Our Bylaws contain no provisions
regarding cumulative voting.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Bylaws do not contain any provisions relating to sinking
funds or potential liability of shareholders to further capital calls by us.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Bylaws do not establish that special quorums are
required to change the rights of shareholders. Under Spanish law, the rights of
shareholders may only be changed by an amendment to the Bylaws that complies
with the requirements explained below under &#8220;&#8212;Shareholders&#8217; Meetings&#8221;, plus the
affirmative vote of the majority of the shares of the class that will be
affected by the amendment.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Shareholders&#8217; Meetings</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The <a name="_cp_text_1_1105"></a>annual general shareholders&#8217;
meeting has its own set of regulations on issues such as how it operates
and what rights shareholders enjoy regarding <a name="_cp_text_1_1107"></a>general
meetings. These establish the possibility of voting or delegating votes
over remote communication media.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">General <a name="_cp_text_1_1109"></a>shareholders&#8217; meetings may
be annual or extraordinary. The <a name="_cp_text_1_1111"></a>annual general
shareholders&#8217; meeting is held within the first six months of each year. It
will give approval, among other things and where applicable, to the corporate
management of the Company and the financial statements for the previous year
and resolve as to the allocation of profits or losses. Extraordinary <a name="_cp_text_1_1113"></a>general shareholders&#8217; meetings are those meetings
that are not ordinary. In any case, the requirements mentioned below for
constitution and adoption of resolutions are applicable to both categories of <a name="_cp_text_1_1115"></a>general shareholders&#8217; meetings.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">General <a name="_cp_text_1_1117"></a>shareholders&#8217; meetings will
be called at the initiative of and according to the agenda determined by the
Board of Directors, whenever it deems necessary or advisable for the Company&#8217;s
interests, and in any case on the dates or in the periods determined by law and
the Company Bylaws, or upon the request of one or several shareholders
representing at least three percent of our share capital.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our <a name="_cp_text_1_1119"></a>general
shareholders&#8217; meeting Regulations establish that annual and extraordinary <a name="_cp_text_1_1121"></a>general shareholders&#8217; meetings must be called within
the notice period required by law. This will be done by means of an
announcement published by the Board of Directors or its proxy in the Official
Gazette of the Companies Registry (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BORME</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) or one of the most widely
disseminated daily newspapers in Spain, as well as being disseminated on the
CNMV (the Spanish Securities Market Commission) website and the Company
website, except when legal provisions establish other media for disseminating
the notice.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Company&#8217;s <a name="_cp_text_1_1123"></a>general
shareholders&#8217; meetings may be attended by anyone owning the minimum number
of shares established in our Bylaws (500), provided that their holding is
registered in the corresponding accounting records five days before the <a name="_cp_text_1_1125"></a>meeting is scheduled and that they keep at least
that same number of shares until the <a name="_cp_text_1_1127"></a>meeting is
held. Holders of fewer shares may group together until they make up at least
that number, appointing a representative.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">General shareholders&#8217; meetings
will be validly constituted at first summons with the presence of at least 25%
of our voting capital, either in person or by proxy. No minimum quorum is
required to hold a <a name="_cp_text_1_1129"></a>general shareholders&#8217; meeting at
second summons. In either case, resolutions will be agreed by the majority of
the votes. However, a <a name="_cp_text_1_1131"></a>general shareholders&#8217; meeting will
only be validly held with the presence of 50% of our voting capital at first
summons or of 25% of the voting capital at second summons, in the case of
resolutions concerning the following matters:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:71.15pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8211;&#160;&#160;
debt issuances;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:71.15pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8211;&#160;&#160;
share capital increases or decreases;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:71.15pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8211;&#160;&#160;
the exclusion or limitation of the pre-emptive subscription rights over new
shares;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:71.15pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8211;&#160;&#160;
transformation, merger of BBVA or spin-off and global assignment of assets and
liabilities;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:71.15pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8211;&#160;&#160;
the off-shoring of domicile, and</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:71.15pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8211;&#160;&#160;
any other amendment to the Bylaws.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In these cases, resolutions may only be approved with the
vote of the absolute majority of the shares if at least 50% of the voting
capital is present or represented at the <a name="_cp_text_1_1133"></a>general
shareholders&#8217; meeting. If the voting capital present or represented at the
meeting at second summons is less than 50% (but over 25%), then resolutions may
only be adopted by two-thirds of the shares present or represented.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Additionally, our Bylaws state that, in order to adopt
resolutions approving the replacement of the corporate purpose, the
transformation, total spin-off, the winding up of BBVA and amending that
paragraph of the relevant article of our Bylaws, two-thirds of the subscribed
voting capital must attend the <a name="_cp_text_1_1135"></a>general shareholders&#8217;
meeting at first summons, or 60% of that capital at second summons.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Restrictions on the Ownership of
Shares</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our Bylaws do not provide for any restrictions on the
ownership of our ordinary shares. Spanish law, however, provides for certain
restrictions which are described below under &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange
Controls&#8212;Restrictions on Acquisitions of Shares</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Restrictions on Foreign Investments</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Spanish Stock Exchanges are open to foreign investors.
Investments in shares of Spanish companies by foreign entities or individuals
may be freely executed but require the notification to the Spanish Foreign
Investment Authorities for administrative statistical and economical purposes. See
&#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange Controls</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;. In addition, they are subject to certain
restrictions and requirements which are also applicable to investments by
domestic entities or individuals.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Current Spanish regulations provide that foreign investors
may freely transfer out of Spain any amounts of invested capital, capital gains
and dividends subject to applicable taxes. See &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange Controls</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">C.</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Material Contracts</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Joint Venture Agreement with Cerberus</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On November 28, 2017, BBVA and
various BBVA Group companies entered into a joint venture agreement (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Joint
Venture Agreement</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) with Promontoria Marina, S.L.U. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Promontoria</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;),
a company managed by </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Cerberus Capital
Management, L.P. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Cerberus</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;),&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> for the
creation of a joint venture to which an important part of the real estate
business of BBVA in Spain (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Business</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) was contributed. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Business comprises: (i) REOs held by BBVA as of June
26, 2017, with a gross book value of approximately &#8364;13,000 million; and (ii)
the necessary assets and employees to manage the Business in an autonomous
manner. For purposes of the transaction, the Business was valued at
approximately &#8364;5,000 million. The final price will be determined based on the
volume of REOs effectively contributed.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On October 10, 2018, after </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">obtaining</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> all the required
authorizations, BBVA completed the contribution of the Business (except for
part of the agreed REOs, as further explained below) to a company called
Divarian Propiedad, S.A. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Divarian</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), and the sale of an 80% stake in
Divarian to Promontoria.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Joint Venture </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Agreement</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> governs the main
terms and conditions of the contribution of the Business and the sale of the
80% stake in Divarian to Promontoria (including the granting by BBVA of certain
representation and warranties in favor of Promontoria in relation to the Joint
Venture Agreement and its assets and REOs).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of the
date of this </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Annual</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> Report, the transfer of several REOs remains subject to
the fulfilment of certain conditions:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(i)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">failure by the Public Administration to
exercise the preferential acquisition right over the REOs located in Catalonia
(this condition has to be fulfilled by June 30, 2019);</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(ii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">authorization by the Public
Administration of the transfer of the REOs subject to a special public
protection scheme (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">viviendas de protecci&#243;n p&#250;blica</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) (this condition has
to be fulfilled by April 10, 2020); and</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(iii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">recording of REOs in the Land Registry
in favor of BBVA (this condition has to be fulfilled by April 10, 2020).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On October 10, 2018 the parties
executed the following agreements (among others):</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(i)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a loan agreement by virtue of which
BBVA granted a loan to Promontoria Holding 208 B.V., a Dutch entity and the
sole shareholder of Promontoria, for the payment of 20% of the purchase price;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(ii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a shareholders&#8217; agreement for Divarian
entered into between BBVA and Promontoria, in which the rights and obligations
of the parties are regulated. According to this shareholders&#8217; agreement,
Divarian will be primarily managed by Promontoria and BBVA will have no
representation in the board of directors. However, BBVA will have certain veto
rights at the general shareholders&#8217; meeting over material decisions. The
shareholders&#8217; agreement also provides for a lock-up period of two years for
Promontoria and BBVA, and sets forth drag-along, first refusal and the
tag-along rights (the first two in favor of Promontoria and the third one in
favor of BBVA). In addition, Promontoria has granted to BBVA an option to
require Promontoria to acquire BBVA&#8217;s stake in the share capital of Divarian,
which may be exercised within 12 months from the third anniversary of the
closing date (October 10, 2018).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(iii)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a services agreement entered into
between BBVA and Haya Real Estate, S.L.U. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Haya</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), a company managed by
Cerberus, by virtue of which Haya has agreed to provide management services for
most of the real estate portfolio held by BBVA in Spain which was not
contributed to Divarian (and for real estate assets in Spain that come into
BBVA&#8217;s possession after June 26, 2017) for a term of 10 years as from October
10, 2018; and</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(iv)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a transition services agreement entered
into between BBVA and Divarian by virtue of which BBVA has agreed to provide
support services for a transitional term which duration varies depending on the
particular service.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:12.0pt;margin-left:24.4pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-24.4pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">D.&#160;&#160;&#160;&#160;&#160;
Exchange Controls</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In 1991, Spain adopted the EU Standards for free movement
of capital and services. As a result, foreign investors may transfer invested
capital, capital gains and dividends out of Spain without limitation as to
amount, subject to applicable taxes. See &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Taxation</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pursuant to Spanish Law 18/1992 on Foreign Investments and
Royal Decree 664/1999 on the Applicable rules to Foreign Investments, foreign
investors may freely invest in shares of Spanish companies except in the case
of certain </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">strategic</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> industries.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Notwithstanding this, Royal Decree 664/1999 and Law
19/2003, on exchange controls and foreign transactions, require notification of
all foreign investments in Spain and liquidations of such investments upon
completion of such investments to the Investments Registry of the Ministry of
Economy and Competitiveness for administrative </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">statistical</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and economical purposes. Shares in listed Spanish
companies acquired or held by foreign investors must be reported to the Spanish
Registry of Foreign Investments by the depositary bank or relevant Iberclear
member. When a foreign investor acquires shares that are subject to the
reporting requirements of the CNMV regarding significant stakes, notice must be
given directly by the foreign investor to the relevant authorities.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Moreover, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">investments</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> by foreigners domiciled in enumerated tax haven
jurisdictions, under Royal Decree 1080/1991, are subject to special reporting
requirements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In certain circumstances and following a specific
procedure, the Council of Ministers may agree to suspend the application of
Royal Decree 664/1999, if the investments, due to their nature, form or
condition, affect or may potentially affect </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">activities</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> relating to the exercise of public powers, national
security or public health. Law 19/2003 authorizes the Spanish Government to
take measures to impose specific limits or prohibitions, related to third
countries, when such measures have been previously approved by the European
Union or by an international organization to which Spain is member. Should such
regimes be suspended, the affected investor shall obtain prior administrative
authorization.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:28.05pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Restrictions on Acquisitions of Shares</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pursuant to Spanish Law 10/2014, any individual or
corporation, acting alone or in concert with others, intending to directly or
indirectly acquire a significant holding in a Spanish financial institution (as
defined in article 16 of the aforementioned Law 10/2014) or to directly or
indirectly increase its holding in one in such a way that either the percentage
of voting rights or of capital owned were equal to <a name="_cp_text_1_1170"></a>or
exceed 20%, 30% or 50%, or by virtue of the acquisition, might take control
over the financial institution, must first notify the Bank of Spain.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For the purpose of this Law, a significant participation is
considered 10% of the outstanding share capital of a financial institution or a
lower percentage if such holding allows for the exercise of a significant
influence.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Bank of Spain will be responsible for evaluating the
proposed transaction, in accordance with the terms established by Royal Decree
84/2015, of February 13 (as stated in Article 25.1 of said Royal Decree
84/2015) in order to guarantee the sound and prudent operation on the target
financial institution. The Bank of Spain will submit a proposition before the
European Central Bank, which will be in charge of deciding upon the proposed
transaction in the term of 60 working days after the date on which the
notification was received.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any acquisition without such prior
notification, or before the period established in the Royal Decree 84/2015 has
elapsed or against the objection of the Bank of Spain, will produce the
following results:</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:45.9pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-&#160;&#160; the acquired
shares will have no voting rights; </font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:45.9pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-&#160;&#160; if considered
appropriate, the target bank may be taken over or its directors replaced; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:45.9pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">-&#160;&#160; the
sanctions established in Title IV of Law 10/2014. </font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Regarding the transparency of
listed companies, such matter is mainly regulated in Spain in Royal Decree
4/2015, of October 23, approving the restated text of the Securities Market
Act. The transparency requirements set out in such Act are further developed by
Royal Decree 1362/2007 developing the Securities Market Act on transparency
requirement for issuers of listed securities, which stipulates among other
matters a communication threshold of 3% for significant stakes and extends the
disclosure obligations to the acquisition or transfer of financial instruments
that grant rights to acquire shares with voting rights. For more information
see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 9. The Offer and Listing&#8212;Offer and Listing Details &#8212; Reporting
Requirements</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:28.05pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tender Offers</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Spanish
legal regime concerning takeover bids, which <a name="_cp_text_1_1173"></a>reflects
the related EU regulation <a name="_cp_text_1_1175"></a>(mainly Directive
2004/25/EC<a name="_cp_text_1_1176"></a>), is <a name="_cp_text_1_1178"></a>set
forth in Royal Decree 4/2015, of October 23, approving the restated text of
the Securities Market Act<a name="_cp_text_1_1179"></a>, and Royal Decree
1066/2007, of July 29, on takeover bids.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:24.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-24.5pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">E.</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Taxation</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish Tax
Considerations</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following is a summary of
the material Spanish tax consequences to U.S. Residents (as defined below) of
the acquisition, ownership and disposition of BBVA&#8217;s ADSs or ordinary shares as
of the date of the filing of this Annual Report. This summary does not address
all tax considerations that may be relevant to all categories of potential
purchasers, some of whom (such as life insurance companies, tax-exempt
entities, dealers in securities or financial institutions) may be subject to
special rules. In particular, the summary deals only with U.S. Holders (as
defined below) that will hold ADSs or ordinary shares as capital assets and who
do not at any time own individually, and are not treated as owning, 25% or more
of BBVA&#8217;s shares, including ADSs.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As used
in this particular section, the following terms have the following meanings:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(1) &#8220;U.S.
Holder&#8221; means a beneficial owner of BBVA&#8217;s ADSs or ordinary shares that is for
U.S. federal income tax purposes:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:53.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:11.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a citizen or an individual resident of
the United States,</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:53.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a corporation or other entity treated
as a corporation, created or organized under the laws of the United States, any
state therein or the District of Columbia, or</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:53.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">an estate or trust the income of which
is subject to U.S. federal income tax without regard to its source.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(2) &#8220;Treaty&#8221; means the
Convention between the United States and the Kingdom of Spain for the Avoidance
of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes
on Income, together with a related Protocol.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(3) &#8220;U.S. Resident&#8221; means a U.S.
Holder that is a resident of the United States for the purposes of the Treaty
and entitled to the benefits of the Treaty, whose holding is not effectively
connected with (1) a permanent establishment in Spain through which such holder
carries on or has carried on business, or (2) a fixed base in Spain from which
such holder performs or has performed independent personal services.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Holders of ADSs or ordinary
shares should consult their tax advisors, particularly as to the applicability
of any tax treaty. The statements regarding Spanish tax laws set out below are
based on interpretations of those laws in force as of the date of this Annual
Report. Such statements also assume that each obligation in the Deposit
Agreement and any related agreement will be performed in full accordance with
the terms of those agreements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Taxation of Dividends</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under Spanish law, cash
dividends paid by BBVA to a holder of ordinary shares or ADSs who is not
resident in Spain for tax purposes and does not operate through a permanent
establishment in Spain, are subject to Spanish Non-Resident Income Tax,
withheld at source at a 19% tax rate. For these purposes, upon distribution of
the dividend, BBVA or its paying agent will withhold an amount equal to the tax
due according to the rules set forth above (applying a withholding tax rate of
19%), transferring the resulting net amount to the depositary.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">However,
under the Treaty, if you are a U.S. Resident, you are entitled to a reduced
withholding tax rate of 15%. To benefit from the Treaty-reduced rate of 15%, if
you are a U.S. Resident, you must provide to BBVA through our paying agent
depositary, before the tenth day following the end of the month in which the
dividends were payable, a certificate from the U.S. Internal Revenue Service (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IRS</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
stating that, to the best knowledge of the IRS, you are a resident of the
United States within the meaning of the Treaty and entitled to its benefits.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If the paying agent depositary
provides timely evidence (i.e., by means of the IRS certificate) of your right
to apply the Treaty-reduced rate it will immediately receive the surplus amount
withheld, which will be credited to you. The IRS certificate is valid for a
period of one year from issuance.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">To help shareholders obtain such
certificates, BBVA has set up an online procedure to make this as easy as
possible.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If the certificate referred to
in the above paragraph is not provided to us through our paying agent
depositary within said term, you may afterwards obtain a refund of the amount
withheld in excess of the rate provided for in the Treaty.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish Refund Procedure</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">According
to Spanish Regulations on Non-Resident Income Tax, approved by Royal Decree
1776/2004 dated July 30, 2004, as amended, a refund for the amount withheld in
excess of the Treaty-reduced rate can be obtained from the relevant Spanish tax
authorities. To pursue the refund claim, if you are a U.S. Resident, you are
required to file:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:38.25pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">the corresponding Spanish tax form,</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:38.25pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">the certificate referred to in the preceding section, and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:38.25pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">evidence of the Spanish Non-Resident Income Tax that was withheld
with respect to you.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The refund claim must be filed
within four years from the date in which the withheld tax was collected by the
Spanish tax authorities, but not before February 1 of the following year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">U.S. Residents are urged to
consult their own tax advisors regarding refund procedures and any U.S. tax
implications thereof.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">U.S. Holders should consult
their tax advisors regarding the availability of, and the procedures to be
followed in connection with, this exemption.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Taxation of Rights</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Distribution of preemptive
rights to subscribe for new shares made with respect to shares in BBVA will not
be treated as income under Spanish law and, therefore, will not be subject to
Spanish Non-Resident Income Tax. The exercise of such preemptive rights is not
considered a taxable event under Spanish law and thus is not subject to Spanish
tax. Capital gains derived from the disposition of preemptive rights received
by U.S. Residents are generally not taxed in Spain provided that certain
conditions are met (see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Taxation of Capital Gains</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">below).&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Taxation of Capital Gains</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under Spanish law, any capital
gains derived from securities issued by persons residing in Spain for tax
purposes are considered to be Spanish-source income and, therefore, are taxable
in Spain. For Spanish tax purposes, gain recognized by U.S. Residents from the
sale of BBVA&#8217;s ADSs or ordinary shares will be treated as capital gains.
Spanish Non-Resident Income Tax is currently levied at a 19% tax rate, on
capital gains recognized by persons who are not residents of Spain for tax
purposes, who are not entitled to the benefit of any applicable treaty for the
avoidance of double taxation and who do not operate through a fixed base or a
permanent establishment in Spain.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Notwithstanding
the discussion above, capital gains derived from the transfer of shares on an
official Spanish secondary stock market by any holder who is resident in a
country that has entered into a treaty for the avoidance of double taxation
with an &#8220;exchange of information&#8221; clause (the Treaty contains such a clause)
will be exempt from taxation in Spain. Additionally, capital gains realized by
non-residents of Spain who are entitled to the benefit of an applicable treaty
for the avoidance of double taxation will, in the majority of cases, not be
taxed in Spain (since most tax treaties provide for taxation only in the
taxpayer&#8217;s country of residence). Under the Treaty, U.S. Residents&#8217; capital
gains arising from the disposition of ordinary shares or ADSs will not be taxed
in Spain. U.S. Residents will be required to establish that they are entitled
to this exemption by providing to the relevant Spanish tax authorities a
certificate of residence in the United States from the IRS (discussed above in </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8212;Taxation
of Dividends&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">), together with the corresponding Spanish tax form.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish Inheritance and Gift Taxes</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Transfers of BBVA&#8217;s shares or
ADSs upon death or by gift to individuals are subject to Spanish inheritance
and gift taxes (Spanish Law 29/1987), if the transferee is a resident in Spain
for tax purposes, or if BBVA&#8217;s shares or ADSs are located in Spain, regardless
of the residence of the transferee. In this regard, the Spanish tax authorities
may argue that all shares of a Spanish corporation and all ADSs representing
such shares are located in Spain for Spanish tax purposes. The applicable tax
rate for individuals, after applying all relevant factors, ranges between
approximately 7.65% and 81.6% under Spanish Law 29/1987. After determining the
tax rate, multipliers that range from 1.0 to 2.4, are applied in order to
assess the tax due. Those multipliers take into account the preexisting wealth
of the inheritor / donee, and the kinship with the deceased / donor.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Corporations that are
non-residents of Spain that receive BBVA&#8217;s shares or ADSs as a gift are subject
to Spanish Non-Resident Income Tax at a 19% tax rate on the fair market value
of such ordinary shares or ADSs as a capital gain tax. If the donee is a U.S.
resident corporation, the exclusions available under the Treaty described in &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Taxation
of Capital Gains</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; above will be applicable.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish Transfer Tax</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Transfers of BBVA&#8217;s ordinary
shares or ADSs will be exempt from Transfer Tax (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impuesto sobre Transmisiones
Patrimoniales</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) or Value-Added Tax. Additionally, no stamp duty will be
levied on such transfers.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">U.S. Tax Considerations </font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
following summary describes material U.S. federal income tax consequences of
the ownership and disposition of ADSs or ordinary shares, but it does not
purport to be a comprehensive description of all of the tax considerations that
may be relevant to a particular person&#8217;s decision to hold the securities. The
summary applies only to U.S. Holders that are eligible for the benefits of the
Treaty (in each case, as defined under &#8220;Spanish Tax Considerations&#8221; above) and
that hold ADSs or ordinary shares as capital assets for tax purposes. This
discussion does not address all of the tax consequences that may be relevant to
any particular U.S. Holder, including the potential application of the
provisions of the Internal Revenue Code of 1986, as amended (the &#8220;Code&#8221;) known
as the Medicare contribution tax, and tax consequences that may be relevant to
holders subject to special rules, such as:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8226;&#160;&#160;&#160;
certain financial institutions;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:17.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8226;&#160;&#160;&#160;
dealers or traders in securities who use a mark-to-market method of accounting;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:1.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-11.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8226;&#160;&#160; persons holding ADSs or ordinary shares as part of a
hedging transaction, straddle, wash sale, conversion&#160;&#160; transaction or
integrated transaction or persons entering into a constructive sale with
respect to the ADSs or ordinary shares;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:17.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8226;&#160;&#160;&#160;&#160;
persons whose &#8220;functional currency&#8221; for U.S. federal income tax purposes is not
the U.S. dollar;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:17.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8226;&#160;&#160;&#160;&#160;
persons liable for the alternative minimum tax;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:17.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8226;&#160;&#160;&#160;&#160;
tax-exempt entities;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:17.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8226;&#160;&#160;&#160;&#160;
partnerships or other entities classified as partnerships for U.S. federal
income tax purposes;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:34.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8226;&#160;&#160; persons holding ADSs or ordinary shares in connection
with a trade or business conducted outside of the United States;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">252</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:34.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8226;&#160;&#160; persons who acquired our
ADSs or ordinary shares pursuant to the exercise of any employee stock option
or otherwise as compensation; or</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:17.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8226; &#160;&#160;&#160;&#160;persons
who own or are deemed to own 10% or more of our stock, by vote or value.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If an entity that is classified
as a partnership for U.S. federal income tax purposes holds ADSs or ordinary
shares, the U.S. federal income tax treatment of a partner will generally
depend on the status of the partner and the activities of the partnership.
Partnerships holding ADSs or ordinary shares and partners in such partnerships
should consult their tax advisors as to the particular U.S. federal income tax
consequences of holding and disposing of the ADSs or ordinary shares.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The summary is based upon the
tax laws of the United States, including the Code, the Treaty, administrative
pronouncements, judicial decisions and final, temporary and proposed Treasury
regulations, all as of the date hereof. These laws are subject to change,
possibly with retroactive effect. In addition, the summary is based in part on
representations by the depositary and assumes that each obligation provided for
in or otherwise contemplated by BBVA&#8217;s deposit agreement and any other related
document will be performed in accordance with its terms. Prospective purchasers
or owners of the ADSs or ordinary shares are urged to consult their tax
advisors as to the U.S., Spanish or other tax consequences of the ownership and
disposition of ADSs or ordinary shares in their particular circumstances,
including the effect of any U.S. state or local tax laws.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In general, for United States
federal income tax purposes, a U.S. Holder who owns ADSs will be treated as the
owner of the underlying ordinary shares represented by those ADSs. Accordingly,
no gain or loss will be recognized if a U.S. Holder exchanges ADSs for the
underlying ordinary shares represented by those ADSs.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The U.S. Treasury has expressed
concerns that parties to whom American depositary shares are released before
shares are delivered to the depositary, or intermediaries in the chain of
ownership between holders and the issuer of the security underlying the
American depositary shares, may be taking actions that are inconsistent with
the claiming of foreign tax credits by U.S. holders of American depositary
shares. Such actions would also be inconsistent with the claiming of the
reduced rate of tax applicable to dividends received by certain non-corporate
U.S. Holders, as described below. Accordingly, the analysis of the
creditability of Spanish taxes and the availability of the reduced tax rate for
dividends received by certain non-corporate U.S. Holders, each described below,
could be affected by future actions that may be taken by such parties.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This discussion assumes that
BBVA has not been, and will not become, a passive foreign investment company
(&#8220;PFIC&#8221;) (as discussed below).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Taxation of Distributions</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Distributions, before reduction
for any Spanish income tax withheld by BBVA or its paying agent, made with
respect to ADSs or ordinary shares (other than certain pro rata distributions
of ordinary shares or rights to subscribe for ordinary shares of BBVA&#8217;s capital
stock) will be includible in the income of a U.S. Holder as ordinary income, to
the extent paid out of BBVA&#8217;s current or accumulated earnings and profits as
determined in accordance with U.S. federal income tax principles. Because we do
not maintain calculations of our earnings and profits under U.S. federal income
tax principles, it is expected that distributions generally will be reported to
U.S. Holders as dividends. The amount of such dividends will generally be
treated as foreign-source dividend income and will not be eligible for the &#8220;dividends-received
deduction&#8221; generally allowed to U.S. corporations under the Code. Subject to
applicable limitations and the discussion above regarding concerns expressed by
the U.S. Treasury, dividends paid to certain non-corporate U.S. Holders of ADSs
will be taxable as &#8220;qualified dividend income&#8221; and therefore will be taxable at
favorable rates applicable to long-term capital gains. U.S. Holders should
consult their own tax advisors to determine the availability of these favorable
rates in their particular circumstances.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The amount of dividend income
will equal the U.S. dollar value of the euro received, calculated by reference
to the exchange rate in effect on the date of receipt (which, for U.S. Holders
of ADSs, will be the date such distribution is received by the depositary),
whether or not the depositary or U.S. Holder in fact converts any euro received
into U.S. dollars at that time. If the dividend is converted into U.S. dollars
on the date of receipt, a U.S. Holder should not be required to recognize
foreign currency gain or loss in respect of the dividend income. A U.S. Holder
may have foreign currency gain or loss if the dividend is converted into U.S.
dollars after the date of receipt.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Subject
to applicable limitations that vary depending upon a U.S. Holder&#8217;s
circumstances and subject to the discussion above regarding concerns expressed
by the U.S. Treasury, a U.S. Holder will be entitled to a credit against its
U.S. federal income tax liability for Spanish income taxes withheld by BBVA or
its paying agent at a rate not exceeding the rate the U.S. Holder is entitled
to under the Treaty. Spanish taxes withheld in excess of the rate applicable
under the Treaty will not be eligible for credit against the U.S. Holder&#8217;s U.S.
federal income tax liability. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Spanish Tax Considerations&#8212;Taxation of
Dividends&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> for a discussion of how to obtain the Treaty rate. The rules
governing foreign tax credits are complex and, therefore, U.S. Holders should
consult their tax advisors regarding the availability of foreign tax credits in
their particular circumstances. Instead of claiming a credit, the U.S. Holder
may, at its election, deduct such Spanish taxes in computing its U.S. federal
taxable income. An election to deduct foreign taxes instead of claiming foreign
tax credits must apply to all taxes paid or accrued in the taxable year to
foreign countries and possessions of the United States.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Sale or Other Disposition of ADSs or Shares</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For U.S. federal income tax
purposes, gain or loss realized by a U.S. Holder on the sale or other
disposition of ADSs or ordinary shares will be capital gain or loss in an
amount equal to the difference between the U.S. Holder&#8217;s tax basis in the ADSs
or ordinary shares disposed of and the amount realized on the disposition, in
each case as determined in U.S. dollars. Such gain or loss will be long-term
capital gain or loss if the U.S. Holder held the ordinary shares or ADSs for
more than one year at the time of disposition. Gain or loss, if any, will
generally be U.S. source for foreign tax credit purposes. The deductibility of
capital losses is subject to limitations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Passive Foreign Investment Company Rules</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Based upon certain proposed
Treasury regulations which are proposed to be effective for taxable years
beginning after December 31, 1994 (&#8220;Proposed Regulations&#8221;), we believe that we
were not a PFIC for U.S. federal income tax purposes for our 2018 taxable year.
However, since our PFIC status depends upon the composition of our income and
assets and the market value of our assets (including, among others, less than
25% owned equity investments) from time to time and since there is no guarantee
that the Proposed Regulations will be adopted in their current form and because
the manner of the application of the Proposed Regulations is not entirely
clear, there can be no assurance that we will not be considered a PFIC for any
taxable year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">If we were treated as a PFIC for
any taxable year during which a U.S. Holder held ADSs or ordinary shares, gain
recognized by such U.S. Holder on a sale or other disposition (including
certain pledges) of an ADS or an ordinary share would be allocated ratably over
the U.S. Holder&#8217;s holding period for the ADS or the ordinary share. The amounts
allocated to the taxable year of the sale or other exchange and to any year
before we became a PFIC would be taxed as ordinary income. The amount allocated
to each other taxable year would be subject to tax at the highest rate in
effect for individuals or corporations, as applicable for that taxable year,
and an interest charge would be imposed on the amount of tax allocated to such
taxable year. The same treatment would apply to any distribution received by a
U.S. Holder on its ordinary shares or ADSs to the extent that such distribution
exceeds 125% of the average of the annual distributions on the ordinary shares
or ADSs received during the preceding three years or the U.S. Holder&#8217;s holding
period, whichever is shorter. In addition, if we were a PFIC or, with respect
to a particular U.S. Holder, were treated as a PFIC for the taxable year in
which we paid a dividend or the prior taxable year, the favorable tax rates
discussed above with respect to dividends paid to certain non-corporate U.S.
Holders would not apply. Certain elections may be available (including a mark-to-market
election) that may provide alternative tax treatments. U.S. Holders should
consult their tax advisors regarding whether we are or were a PFIC, the
potential application of the PFIC rules to their ownership and disposition of
ordinary shares or ADSs, whether any of these elections for alternative
treatment would be available and, if so, what the consequences of the
alternative treatments would be in their particular circumstances. If we were a
PFIC for any taxable year during which a U.S. Holder owned our shares, the U.S.
Holder would generally be required to file IRS Form 8621 with their annual U.S.
federal income tax returns, subject to certain exceptions.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Information
Reporting and Backup Withholding</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Information returns may be filed
with the IRS in connection with payments of dividends on, and the proceeds from
a sale or other disposition of, ADSs or ordinary shares. A U.S. Holder may be
subject to U.S. backup withholding on these payments if the U.S. Holder fails
to provide its taxpayer identification number to the paying agent and comply
with certain certification procedures or otherwise establish an exemption from
backup withholding. The amount of any backup withholding from a payment to a
U.S. Holder will be allowed as a credit against the U.S. Holder&#8217;s U.S. federal
income tax liability and may entitle the U.S. Holder to a refund, provided that
the required information is timely furnished to the IRS.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Certain U.S. Holders who are
individuals or specified entities may be required to report information
relating to securities of non-U.S. companies, or non-U.S. accounts through
which they are held. U.S. Holders should consult their tax advisors regarding
the effect, if any, of these rules on their ownership or disposition of
ordinary shares or ADSs.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">F.&#160;&#160;&#160;&#160;&#160; Dividends and Paying Agents</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">G.&#160;&#160;&#160;&#160;&#160; Statement by Experts</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:24.4pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-24.4pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">H.&#160;&#160;&#160;&#160; Documents on Display </font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We are subject to the information requirements of the Exchange Act,
except that as a foreign private issuer, we are not subject to the proxy rules
or the short-swing profit disclosure rules of the Exchange Act. In accordance
with these statutory requirements, we file or furnish reports and other
information with the SEC. Reports and other information filed or furnished by
BBVA with the SEC may be inspected and copied at the public reference
facilities maintained by the SEC at 100 F Street, N.E., Washington, D.C. 20549.
Copies of such material may also be inspected at the offices of the New York
Stock Exchange, 11 Wall Street, New York, New York 10005, on which BBVA&#8217;s ADSs
are listed. In addition, the SEC maintains a web site that contains information
filed or furnished electronically with the SEC, which can be accessed over the
internet at http://www.sec.gov. Except as
otherwise expressly indicated herein, any such information does not form part
of this Annual Report on Form 20-F.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">I.&#160;&#160;&#160;&#160;&#160;&#160; Subsidiary Information</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 11.&#160;&#160;&#160;&#160;&#160;
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</font></b></font></h1>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Trading Portfolio Activities</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Market risk originates as a result of movements in the
market variables that impact the valuation of traded financial products and
assets. The main risks can be classified as follows:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Interest-rate risk: This arises as a
result of exposure to movements in the different interest-rate curves involved
in trading. Although the typical products that generate sensitivity to the
movements in interest rates are money-market products (deposits, interest-rate
futures, call money swaps, etc.) and traditional interest-rate derivatives
(swaps and interest-rate options such as caps, floors, swaptions, etc.),
practically all financial products are exposed to interest-rate movements due
to the effect that such movements have on the valuation of the financial
discount.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.15pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Equity risk: This arises as a result of
movements in share prices. This risk is generated in spot positions in shares
or any derivative products whose underlying asset is a share or an equity
index. Dividend risk is a sub-risk of equity risk, arising as an input for any
equity option. Its variation may affect the valuation of positions and it is
therefore a factor that generates risk on the books.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">255</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.15pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange-rate risk: This is caused by
movements in the exchange rates of the different currencies in which a position
is held. As in the case of equity risk, this risk is generated in spot currency
positions, and in any derivative product whose underlying asset is an exchange
rate. In addition, the quanto effect (operations where the underlying asset and
the instrument itself are denominated in different currencies) means that in
certain transactions in which the underlying asset is not a currency, an
exchange-rate risk is generated that has to be measured and monitored.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.15pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Credit-spread risk: Credit spread is an
indicator of an issuer&#8217;s credit quality. Spread risk occurs due to variations
in the levels of spread of both corporate and government issues, and affects
positions in bonds and credit derivatives.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.15pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Volatility risk: This occurs as a
result of changes in the levels of implied price volatility of the different
market instruments on which derivatives are traded. This risk, unlike the
others, is exclusively a component of trading in derivatives and is defined as
a first-order convexity risk that is generated in all possible underlying
assets in which there are products with options that require a volatility input
for their valuation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We believe
the metrics developed to control and monitor market risk in the BBVA Group are
aligned with best practices in the market, and they are implemented
consistently across all the local market risk units.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Measurement
procedures are established in terms of the possible impact of negative market
conditions on the trading portfolio of the Group&#8217;s Global Markets units, both
under ordinary circumstances and in situations of heightened risk factors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The standard
metric used by the Group to measure market risk in the trading portfolio is
Value at Risk (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">VaR</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), which indicates the maximum loss expected to
occur in the portfolios at a given confidence level (99%) and time horizon (one
day). This statistic value is widely used in the market and has the advantage
of summing up in a single metric the risks inherent to trading activity, taking
into account how they are related and providing a prediction of the loss that
the trading book could sustain as a result of fluctuations in equity prices,
interest rates, foreign exchange rates and credit spreads. The market risk
analysis considers various market risks, such as credit-spread risk, basis
risk, volatility risk and correlation risk, among others.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Headings of the balance sheet
subject to VaR measurement</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We rely on
VaR to measure market risk in our trading portfolio. The table below shows the
aggregate amount of our traded financial products and assets, by accounting
line of the consolidated balance sheet, as of December 31, 2018, in respect of
which there is a market risk and therefore is subject to a VaR measurement:</font></font></p>



<font face="Times New Roman,serif" style="border:none;display:none;">
&nbsp;</font>



<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=64% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=32% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">As of December 31, 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=64% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=red face=Arial,sans-serif style="border:none;"><b><font color=red face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=32% style="background:white;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">VaR</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=64% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=red face=Arial,sans-serif style="border:none;"><b><font color=red face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=32% style="background:white;border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=64% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Assets subject to market risk</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy style="border:none;"><b><font color=navy face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=32% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy style="border:none;"><b><font color=navy face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=64% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial assets held for trading</font></font></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=32% style="background:white;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">57,486</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td nowrap valign=bottom width=64% style="height:22.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial assets at fair value through other
  comprehensive income</font></font></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=32% style="background:white;height:22.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5,652</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=64% style="height:15.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Of which: Equity instruments</font></font></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=32% style="background:white;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=64% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Hedging derivatives</font></font></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:15.0pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=32% style="background:white;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">688</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=64% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Liabilities subject to market risk</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy style="border:none;"><font color=navy face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=32% style="background:white;height:12.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=64% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Financial liabilities held for trading</font></font></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=32% style="background:white;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38,844</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=64% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Hedging derivatives</font></font></p>
  </td>
 <td nowrap valign=bottom width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=32% style="background:white;height:15.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">550</font></font></p>
  </td>
 </tr>
</table></div>





<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:.3pt;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Although the table above provides information on the
financial positions in our trading portfolio subject to market risk and
therefore VaR measurement, such information is provided for information
purposes only and does not reflect how market risk in trading activity is
managed.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">256</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:.3pt;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">With
respect to the risk measurement models used by the BBVA Group, the Bank of
Spain has authorized the use of the internal market risk model to determine
bank capital requirements deriving from risk positions on the Banco Bilbao
Vizcaya Argentaria, S.A. and BBVA Bancomer trading book, which jointly
accounted for around 76% and 70% of the Group&#8217;s trading book market risk as of
December 31, 2018 and 2017, respectively. For the rest of the geographical
areas where the Group operates (applicable mainly to the Group&#8217;s South America
subsidiaries, Garanti and BBVA Compass), bank capital for the risk positions in
the trading book is calculated using the Standardised Approach defined by the
Basel Committee on Banking Supervision (which is referred to herein as the
&#8220;standard model&#8221;).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:.3pt;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The current management structure includes the monitoring of
market-risk limits, consisting of a scheme of limits based on VaR, economic
capital (based on VaR measurements) and VaR sub-limits, as well as stop-loss
limits for each of the Group&#8217;s business units.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:.3pt;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The model used estimates VaR in accordance with the
&#8220;historical simulation&#8221; methodology, which involves estimating losses and gains
that would have taken place in the current portfolio if the changes in market
conditions that took place over a specific period of time in the past were
repeated. Based on this information, it predicts the maximum expected loss of
the current portfolio within a given confidence level. This model has the
advantage of reflecting precisely the historical distribution of the market
variables and not assuming any specific distribution of probability. The
historical period used in this model is two years. The historical simulation
method is used by Banco Bilbao Vizcaya Argentaria, S.A., BBVA Bancomer, BBVA
Colombia, S.A., Compass Bank and Garanti.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">VaR figures are estimated
following two methodologies:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.75pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">VaR </font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">without smoothing,
which awards equal weight to the daily information for the previous two years.
This is currently the official methodology for measuring market risks for the
purpose of monitoring compliance with risk limits.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.75pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">VaR </font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">with smoothing,
which gives a greater weight to more recent market information. This metric
supplements the previous one.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the case
of the Global Markets units of Argentina and Peru, a parametric methodology is
used to measure risk in terms of VaR.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">At the same time, and following the guidelines established
by the Spanish and European authorities, BBVA incorporates metrics in addition
to VaR with the aim of meeting the Bank of Spain&#8217;s regulatory requirements with
respect to the calculation of bank capital for the trading book. Specifically,
the measures incorporated in the Group since December 2011 (stipulated by Basel
2.5) are:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.75pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">VaR</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">: In regulatory
terms, the VaR charge incorporates the stressed VaR charge, and the sum of the
two (VaR and stressed VaR) is calculated. This quantifies the losses associated
with the movements of the risk factors inherent to market operations (including
interest-rate risk, exchange-rate risk, equity risk and credit risk, among
others). Both VaR and stressed VaR are rescaled by a regulatory multiplier set
at three and by the square root of ten to calculate the capital charge.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.75pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Specific Risk - Incremental Risk Capital (&#8220;IRC&#8221;)
Quantification of the risks of default and downgrading of the credit ratings of
the bond and credit derivative positions in the portfolio</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. The IRC charge is exclusively applied in entities in
respect of which the internal market risk model is used (i.e., Banco Bilbao
Vizcaya Argentaria, S.A. and BBVA Bancomer). The IRC charge is determined based
on the associated losses (calculated at 99.9% confidence level over a one year
horizon under the hypothesis of constant risk) due to a rating change and/or
default of the issuer with respect to an asset. In addition, the price risk is
included in sovereign positions for the specified items.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.75pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Specific Risk - Securitization and correlation portfolios</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. Capital charges for securitizations and correlation
portfolios are assessed based on the potential losses associated with the
rating level of a specific credit structure. They are calculated by the
standard model. The scope of the correlation portfolios refers to the First To
Default (FTD)-type market operation and/or tranches of market CDOs and only for
positions with an active market and hedging capacity.</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">257</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_263"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Validity tests are performed regularly on the risk
measurement models used by the Group. They estimate the maximum loss that could
have been incurred in the assessed positions with a certain level of
probability (backtesting), as well as measurements of the impact of extreme
market events on risk positions (stress testing). As an additional control
measure, backtesting is conducted at a trading desk level in order to enable
more specific monitoring of the validity of the measurement models.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Market risk in 2018</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s market risk related to its trading portfolio
remains at low levels compared with other risks managed by BBVA, particularly
credit risk. This is due to the nature of the business. During 2018 the average
VaR was &#8364;21 million, below the average and highest figures for 2017. VaR
reached a high on March 16, 2018 of &#8364;26 million. The evolution in the Group&#8217;s
market risk during 2018, measured as VaR without smoothing with a 99%
confidence level and a one-day horizon (shown in millions of euros) was as
follows:</font></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;text-indent:17.85pt;"><font style="border:none;"><img border=0 height=400 src="maindocument001x262x0.gif" width=624></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">By type of
market risk assumed by the Group&#8217;s trading portfolio, the main risk factor for
the Group continued to be that linked to interest rates, with a weight of 55%
of the total at December 31, 2018 (this figure includes the spread risk). The
relative weight of this risk increased compared with its relative weight at
December 31, 2017 (48%). Exchange-rate risk had a relative weight of 14%, the
same as in 2017, while the relative weight of equity, volatility and
correlation risk decreased from 38% at December 31, 2017 to 31% at December 31,
2018.</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The VaR
average in 2018, 2017 and 2016 was &#8364;21 million, &#8364;27 million and &#8364;29 million,
respectively. The total VaR figures for 2018, 2017 and 2016 can be broken down
as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Risk</font></b></font></p>
  </td>
 <td width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=23% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=29% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=71% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">(In Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">At December 31</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Interest/Spread risk</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">19</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Currency risk</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Stock-market risk</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Vega/Correlation risk</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">7</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">14</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=29% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Diversification effect(*)</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:13.5pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(17)</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:13.5pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(26)</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="background:white;height:13.5pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(24)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">For period</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">17</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">VaR average in the period</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">21</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">27</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">29</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">VaR max in the period</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">26</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">34</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">38</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=29% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">VaR min in the period</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="background:white;height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">16</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">22</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:12.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">23</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=29% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=24% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=23% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=4 valign=bottom width=100% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*)&#160;&#160;&#160;&#160; The diversification
  effect is the difference between the sum of the average individual risk
  factors and the total VaR figure that includes the implied correlation
  between all the variables and scenarios used in the measurement.</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">VaR and other measures of the
risk of loss used by the Group involve risks and uncertainties. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Cautionary
Statement Regarding Forward-Looking Statements</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Validation of the internal
market risk model</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The internal market risk model
is validated on a regular basis by backtesting in both Banco Bilbao Vizcaya
Argentaria, S.A. and BBVA Bancomer. The aim of backtesting is to validate the
quality and precision of the internal market risk model used by the Group to
estimate the maximum daily loss of a portfolio, at a 99% level of confidence
and a 250-day time horizon, by comparing the Group&#8217;s results and the risk
measurements generated by the internal market risk model. These tests showed
that the internal market risk model of both Banco Bilbao Vizcaya Argentaria,
S.A. and BBVA Bancomer is adequate and precise.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Two types
of backtesting were carried out during the years ended December 31, 2018, 2017
and 2016:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Hypothetical&#8221; backtesting: the daily VaR is compared with
the results obtained, not taking into account the intraday results or the
changes in the portfolio positions. This validates the appropriateness of the
market risk metrics for the end-of-day position.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Real&#8221; backtesting: the daily VaR is compared with the
total results, including intraday transactions, but discounting the possible
minimum charges or fees involved. This type of backtesting includes the
intraday risk in portfolios.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, each of these two
types of backtesting was carried out at a risk factor or business type level,
thus making a deeper comparison of the results with respect to risk
measurements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">During the year ended December
31, 2018, we carried out the backtesting of the internal VaR calculation model,
comparing the daily results obtained with the risk level estimated by the
internal VaR calculation model. At the end of 2018, the comparison showed the
internal VaR calculation model was working correctly, within the &#8220;green&#8221; zone
(0-4 exceptions), thus validating the internal VaR calculation model, as has
occurred each year since the internal market risk model was approved for the
Group.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Stress test analysis</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A number of stress tests are
carried out on the Group&#8217;s trading portfolios. First, global and local
historical scenarios are used that replicate the behavior of an extreme past
event, such as for example the collapse of Lehman Brothers or the &#8220;Tequilazo&#8221;
crisis. These stress tests are complemented with simulated scenarios, where the
aim is to generate scenarios that have a significant impact on the different
portfolios, but without being anchored to any specific historical scenario.
Finally, for some portfolios or positions, fixed stress tests are also carried
out that have a significant impact on the market variables affecting these
positions</font><font color=#222222 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Historical scenarios</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font color=#222222 style="border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The historical benchmark stress scenario for the BBVA Group is
Lehman Brothers, whose sudden collapse in September 2008 led to a significant
impact on the behavior of financial markets at a global level. The following
are the most relevant effects of this historical scenario</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.75pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">Credit shock: reflected mainly in the increase of credit
spreads and downgrades in credit ratings.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.75pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">Increased volatility in most of the financial markets
(giving rise to a great deal of variation in the prices of different assets
(currency, equity, debt).</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.75pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">Liquidity shock in the financial
systems, reflected by a major movement in interbank curves, particularly in the
shortest sections of the euro and dollar curves.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Simulated scenarios</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Unlike the historical scenarios,
which are fixed and therefore not suited to the composition of the risk
portfolio at all times, the scenario used for the exercises of economic stress
is based on a resampling methodology. This methodology is based on the use of
dynamic scenarios that are recalculated periodically depending on the main risks
affecting the trading portfolios. On a data window wide enough to collect
different periods of stress (data are taken from January 1, 2008 until the date
of the assessment), a simulation is performed by resampling of historic
observations, generating a distribution of losses and gains that serve to
analyze the most extreme of births in the selected historical window. The
advantage of this resampling methodology is that the period of stress is not
predetermined, but depends on the portfolio maintained at each time, and making
a large number of simulations (10,000 simulations) allows a greater richness of
information for the analysis of expected shortfall than what is available in
the scenarios included in the calculation of VaR.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The main features of this approach
are: a) the generated simulations respect the correlation structure of the
data, b) there is flexibility in the inclusion of new risk factors and c) it
allows the introduction of a lot of variability in the simulations (desirable
for considering extreme events).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Structural Risk &#8212; Non-Trading
Activities</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Structural interest-rate risk</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The structural interest-rate
risk (&#8220;SIRR&#8221;) is related to the potential impact that variations in market
interest rates have on an entity&#8217;s net interest income and equity. In order to
measure SIRR, BBVA takes into account the main sources that generate this risk:
repricing risk, yield curve risk, option risk and basis risk, which are
analyzed from two complementary points of view: net interest income (short
term) and economic value (long term).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ALCO monitors the interest-rate
risk metrics and the Assets and Liabilities Management unit carries out the
management proposals for the structural balance sheet. The management objective
is to ensure the stability of net interest income and book value in the face of
changes in market interest rates, while respecting the internal solvency and
other limits in the different balance sheets and for the Group as a whole, and
complying with current and future regulatory requirements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA&#8217;s structural interest-rate
risk management control and monitoring is based on a set of metrics and tools
aimed at enabling the entity&#8217;s risk profile to be monitored correctly. A wide
range of scenarios are measured on a regular basis, including sensitivities to
parallel movements in the event of different shocks, changes in slope and
curve, as well as delayed movements. Other probabilistic metrics based on
statistical scenario-simulating methods are also assessed, such as earnings at
risk (&#8220;EaR&#8221;) and economic capital (&#8220;EC&#8221;), which are defined as the maximum
adverse deviations in net interest income and economic value, respectively, for
a given confidence level and time horizon. Impact thresholds are established on
these management metrics both in terms of deviations in net interest income and
in terms of the impact on economic value. The process is carried out separately
for each currency to which the Group is exposed, and the diversification effect
between currencies and business units is considered after this.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In order to evaluate its
effectiveness, the model is subjected to regular internal validation, which
includes backtesting. In addition, the banking book&#8217;s interest-rate risk
exposures are subjected to different stress tests in order to reveal balance
sheet vulnerabilities under extreme scenarios. This testing includes an
analysis of adverse macroeconomic scenarios designed specifically by BBVA
Research, together with a wide range of potential scenarios that aim to
identify interest-rate environments that are particularly damaging for the
entity. This is done by generating extreme scenarios of a breakthrough in
interest rate levels and historical correlations, giving rise to sudden changes
in the slopes and even to inverted curves.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
model is necessarily underpinned by an elaborate set of assumptions that aim to
reproduce the behavior of the balance sheet as closely as possible to reality.
Especially relevant among these assumptions are those related to the behavior
of deposits with no explicit maturity, for which stability and remuneration
assumptions are established, consistent with an adequate segmentation by type
of product and customer, and prepayment estimates (implicit optionality). The
assumptions are reviewed and adapted, at least on an annual basis, to signs of
changes in behavior, kept properly documented and reviewed on a regular basis
in the internal validation processes.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The impacts on the metrics are
assessed both from a point of view of economic value with a static model (gone
concern) and from the perspective of net interest income, for which a dynamic
model (going concern) consistent with the corporate assumptions of earnings
forecasts is used.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The table below shows the
estimated impact on net interest income and economic value as of December 31,
2018, for the next succeeding year, of the main entities in the BBVA Group in
2018 of 100 basis points increases/decreases in interest rates (while certain
information in this table is provisional, the distributions should not be
significantly affected):</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td width=17% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=42% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Impact on Net Interest Income
  (*)</font></b></font></p>
  </td>
 <td colspan=2 width=41% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Impact on Economic Value(**)</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=17% style="height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100 Basis-Point Increase</font></b></font></p>
  </td>
 <td width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100 Basis-Point Decrease</font></b></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100 Basis-Point Increase</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">100 Basis-Point Decrease</font></b></font></p>
  </td>
 </tr>
<tr style="height:.75pt;">
  <td width=17% style="height:.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=21% style="border:none;height:.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=21% style="border:none;height:.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=21% style="border:none;height:.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border:none;height:.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Europe (***)</font></font></p>
  </td>
 <td width=21% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">+ (5% - 10%)</font></font></p>
  </td>
 <td width=21% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- (5% - 10%)</font></font></p>
  </td>
 <td width=21% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 <td width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- (0% - 5%)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">USA</font></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">+ (5% - 10%)</font></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- (5% - 10%)</font></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- (5% - 10%)</font></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Mexico</font></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- (0% - 5%)</font></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- (0% - 5%)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Turkey</font></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- (0% - 5%)</font></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- (0% - 5%)</font></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">South America</font></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- (0% - 5%)</font></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- (0% - 5%)</font></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">BBVA Group</font></b></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">+ (0% - 5%)</font></b></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- (0% - 5%)</font></b></font></p>
  </td>
 <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- (0% - 5%)</font></b></font></p>
  </td>
 <td width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">- (0% - 5%)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:33.75pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(*)&#160;&#160;&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Percentage impact of &#8220;one year&#8221; net
interest income forecast for each unit.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:33.75pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(**)&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Percentage impact of core capital for each
unit.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(***) </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">In
Europe falling interest rates at more negative levels than the current interest
rates.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In 2018, European monetary
policy has remained expansionary, maintaining interest rates at 0% and the
deposit rate at (0.4)%. In the United States, the rising rate cycle initiated
by the Federal Reserve in 2015 has continued. In Mexico and Turkey, the upward
cycle has continued as a result of volatility in their currencies and inflation
prospects. In South America, monetary policy has continued to be expansive in
most of the economies where the Group operates, with the exception of
Argentina, where rates increased and actions were taken to slow inflation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group overall maintains a
positive and moderate sensitivity in its net interest income to an increase in
interest rates. Higher relative net interest income sensitivities are
particularly observed in markets using the euro and U.S. dollar. In Europe,
however, the possible decrease in interest rates is limited by the very low or
even negative prevailing interest rates, which prevent that very adverse
scenarios may occur. The Group maintains a moderate risk profile, according to
its target risk, through effective management of its balance sheet structural
risk.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Structural exchange-rate risk</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the Group, structural
exchange-rate risk arises from the consolidation of holdings in subsidiaries
with functional currencies other than the euro. Its management is centralized
in order to optimize the joint handling of permanent foreign currency
exposures, taking into account diversification.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The corporate Assets and
Liabilities Management unit, through ALCO, designs and executes hedging
strategies with the main purpose of controlling the potential negative effect
of exchange-rate fluctuations on capital ratios and on the equivalent value in
euros of the foreign-currency earnings of the Group&#8217;s subsidiaries, considering
transactions according to market expectations and their cost.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The risk monitoring metrics
included in the framework of limits are integrated into management and
supplemented with additional assessment indicators. At the corporate level they
are based on probabilistic metrics that measure the maximum deviation in the
Group&#8217;s Capital, CET1 ratio, and net attributable profit. The probabilistic
metrics make it possible to estimate the joint impact of exposure to different
currencies taking into account the different variability in exchange rates and
their correlations.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">261</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
suitability of these risk assessment metrics is reviewed on a regular basis
through backtesting exercises. The final element of structural exchange-rate
risk control is the analysis of scenarios and stress with the aim of
identifying in advance possible threats to future compliance with the risk
appetite levels set, so that any necessary preventive management actions can be
taken. The scenarios are based both on historical situations simulated by the
risk model and on the risk scenarios provided by BBVA Research.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In 2018, emerging markets
experienced higher volatility levels in exchange rates. As for the main
currencies of the countries where the Group operates, the Mexican peso and U.S.
dollar appreciated against the euro in terms of period-end exchange rates
(around 5% in both cases), while the Turkish lira and Argentine peso have
strongly depreciated against the euro (25% and 48%, respectively) affected by
idiosyncratic factors at period-end.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s structural
exchange-rate risk exposure level has remained fairly stable since the end of
2017. The hedging policy intends to keep low levels of sensitivity to movements
in the exchange rates of emerging currencies against the euro and focuses on
the Mexican peso and the Turkish lira. The risk mitigation level in BBVA&#8217;s
capital ratio due to the book value of the Group&#8217;s holdings in foreign emerging
markets currencies stood at around 70% and, as of the end of 2018, the CET1
ratio sensitivity to the appreciation of 1% in the euro exchange rate for each
currency was as follows: U.S. dollar +1.1 bps; Mexican peso -0.2 bps; Turkish
lira -0.2 bps; and other currencies -0.2 bps. Hedging of emerging
markets-currency denominated earnings in 2018 increased to 82% (from 61% in
2017), concentrated in the Mexican peso, Turkish lira and other main Latin
American currencies.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Structural equity risk</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s exposure to
structural equity risk stems mainly from minority shareholdings in industrial
and financial companies held with long or medium-term investment horizons. This
exposure is modulated in some portfolios with positions held in derivative
instruments on the same underlying assets, in order to adjust the portfolio
sensitivity to potential changes in equity prices.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The management of structural
equity portfolios is the responsibility of the Group&#8217;s units specialized in
this area. Their activity is subject to the risk management corporate policy on
structural equity risk management, which complies with the defined management
principles of BBVA and its Risk Appetite Framework.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s risk management
systems also make it possible to anticipate potential negative impacts and take
appropriate measures to prevent damage being caused to the entity. The risk control
and limitation mechanisms are focused on the exposure, annual performance and
economic capital estimated for each portfolio. Economic capital is estimated in
accordance with a corporate model based on Monte Carlo simulations, taking into
account the statistical performance of asset prices and the diversification
existing among the different exposures.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Stress tests and analyses of
sensitivity to different simulated scenarios are carried out periodically to
analyze the risk profile in more depth. They are based on both past crisis
situations and forecasts made by BBVA Research. This aims to check that the
risks are limited and that the tolerance levels set by the Group are not at
risk.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Backtesting is carried out on a
regular basis on the risk measurement model used.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">With regards to equity markets,
the world indexes at the end of 2018 experienced generalized falls and
volatility surges in a scenario of global growth slowdown, increase of
political uncertainty and normalization of monetary policies.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Structural equity risk, measured
in terms of economic capital, decreased in 2018 mainly due to lower exposure.
The aggregate sensitivity of the Group&#8217;s consolidated equity to a 1% fall in
the price of shares of the companies making up the equity portfolio was around &#8364;(28)
million as of December 31, 2018 and &#8364;(32) million as of December 31, 2017. This
estimate takes into account the exposure in shares valued at market prices, or
if not applicable, at fair value (excluding the positions in the Treasury Area
portfolios) and the net delta-equivalent positions in derivatives on the same
underlyings.</font></font></p>

<p style="-sec-extract:summary;border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See Note 7 of the Consolidated
Financial Statements for additional information on risks faced by BBVA.</font></font></p>

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<h1 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 12.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">DESCRIPTION
OF SECURITIES OTHER THAN EQUITY SECURITIES</font></b></font></h1>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">&#160;&#160; &#160;&#160;&#160;&nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Debt Securities</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:18.15pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">B.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;
&nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Warrants and Rights</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:18.15pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">C.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;
&nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other Securities</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:18.15pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">D.</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">American Depositary Shares</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.6pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our ADSs are listed on the New York Stock Exchange under
the symbol &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;. The Bank of New York Mellon is the depositary (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Depositary</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
issuing ADSs pursuant to an amended and restated deposit agreement dated June
29, 2007 among BBVA, the Depositary and the holders from time to time of ADSs
(the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Deposit Agreement</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). Each ADS represents the right to receive one
share. The table below sets forth the fees payable, either directly or
indirectly, by a holder of ADSs as of the date of this Annual Report.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="page-break-inside:avoid;">
  <td valign=bottom width=29% style="padding:0cm 2.9pt 0cm 2.9pt;">
   <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 1.0pt 31.0pt;">
   <p align=left style="border:none;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:left;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:8.0pt;line-height:9.0pt;">Category</font></b></font></p>
   </div>

   </td>
 <td valign=bottom width=38% style="padding:0cm 2.9pt 0cm 2.9pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 1.0pt 31.0pt;">
   <p align=left style="border:none;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:left;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:8.0pt;line-height:9.0pt;">Depositary Actions</font></b></font></p>
   </div>

   </td>
 <td valign=bottom width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 1.0pt 31.0pt;">
   <p align=left style="border:none;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:left;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:8.0pt;line-height:9.0pt;">Associated Fee / By
   Whom Paid</font></b></font></p>
   </div>

   </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">(a) Depositing or substituting the
  underlying shares</font></font></p>
  </td>
 <td valign=top width=38% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Issuance of ADSs</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Up
  to $5.00 for each 100 ADSs (or portion thereof) evidenced by the new ADSs
  delivered (charged to person depositing the shares or receiving the ADSs)</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">(b) Receiving or distributing dividends</font></font></p>
  </td>
 <td valign=top width=38% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Distribution of cash dividends or other
  cash distributions; distribution of share dividends or other free share
  distributions; distribution of securities other than ADSs or rights to
  purchase additional ADSs</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Not applicable</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">(c) Selling or exercising rights</font></font></p>
  </td>
 <td valign=top width=38% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Distribution or sale of securities</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Not applicable</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">(d) Withdrawing an underlying security</font></font></p>
  </td>
 <td valign=top width=38% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Acceptance of ADSs surrendered for
  withdrawal of deposited securities</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Up to $5.00 for each 100 ADSs (or portion
  thereof) evidenced by the ADSs surrendered (charged to person surrendering or
  to person to whom withdrawn securities are being delivered)</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">(e) Transferring, splitting or grouping
  receipts</font></font></p>
  </td>
 <td valign=top width=38% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Transfers, combining or grouping of
  depositary receipts</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Not applicable</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">(f) General depositary services,
  particularly those charged on an annual basis</font></font></p>
  </td>
 <td valign=top width=38% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Other services performed by the
  Depositary in administering the ADSs</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Not applicable</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">(g) Expenses of the Depositary</font></font></p>
  </td>
 <td valign=top width=38% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Expenses incurred on behalf of holders in
  connection with </font></font></p>
  <p style="border:none;margin-bottom:10.0pt;margin-left:15.8pt;margin-right:0cm;margin-top:0cm;text-indent:-15.8pt;"><font face=Symbol style="border:none;"><font face=Symbol style="font-size:8.5pt;">&#183;</font><font face="Times New Roman" style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">stock transfer or
  other taxes (including Spanish income taxes) and other governmental charges;</font></font></p>
  <p style="border:none;margin-bottom:10.0pt;margin-left:15.8pt;margin-right:0cm;margin-top:0cm;text-indent:-15.8pt;"><font face=Symbol style="border:none;"><font face=Symbol style="font-size:8.5pt;">&#183;</font><font face="Times New Roman" style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">cable, telex and
  facsimile transmission and delivery charges incurred at request of holder of
  ADS or person depositing shares for the issuance of ADSs;</font></font></p>
  <p style="border:none;margin-bottom:10.0pt;margin-left:15.8pt;margin-right:0cm;margin-top:0cm;text-indent:-15.8pt;"><font face=Symbol style="border:none;"><font face=Symbol style="font-size:8.5pt;">&#183;</font><font face="Times New Roman" style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">transfer, brokerage
  or registration fees for the registration of shares or other deposited securities
  on the share register and applicable to transfers of shares or other
  deposited securities to or from the name of the custodian;</font></font></p>
  <p style="border:none;margin-bottom:10.0pt;margin-left:15.8pt;margin-right:0cm;margin-top:0cm;text-indent:-15.8pt;"><font face=Symbol style="border:none;"><font face=Symbol style="font-size:8.5pt;">&#183;</font><font face="Times New Roman" style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">reasonable and
  customary expenses of the depositary in connection
  with the conversion of foreign currency into U.S. dollars</font></font></p>
  </td>
 <td valign=top width=33% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.5pt;">Expenses payable by holders of ADSs or
  persons depositing shares for the issuance of ADSs; expenses payable in
  connection with the conversion of foreign currency into U.S. dollars are
  payable out of such foreign currency</font></font></p>
  </td>
 </tr>
</table></div>



<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">263</font></font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_269"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Depositary may remit to us all or a portion of the
Depositary fees charged for the reimbursement of certain of the expenses we
incur in respect of the ADS program established pursuant to the Deposit
Agreement upon such terms and conditions as we may agree from time to time. In
the year ended December 31, 2018, the Depositary reimbursed us $897,129 with
respect to certain fees and expenses. The table below sets forth the types of
expenses that the Depositary has agreed to reimburse and the amounts reimbursed
in 2018.</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="page-break-inside:avoid;">
  <td valign=bottom width=84% style="padding:0cm 2.9pt 0cm 2.9pt;">
   <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 1.0pt 31.0pt;">
   <p style="border:none;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:8.0pt;line-height:9.0pt;">Category of Expenses</font></b></font></p>
   </div>

   </td>
 <td valign=bottom width=16% style="padding:0cm 2.9pt 0cm 2.9pt;">
<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:31.0pt 31.0pt 1.0pt 31.0pt;">
   <p style="border:none;margin-bottom:2.0pt;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:8.0pt;line-height:9.0pt;">Amount Reimbursed in the Year Ended December
   31, 2018</font></b></font></p>
   </div>

   </td>
 </tr>
<tr>
  <td valign=bottom width=84% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:9.35pt;margin-right:9.35pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:8.0pt;">(In Dollars)</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=84% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:9.35pt;margin-right:0pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">NYSE Listing Fees</font></font></p>
  </td>
 <td valign=bottom width=16% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">359,262</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=84% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:9.35pt;margin-right:0pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Investor Relations Marketing</font></font></p>
  </td>
 <td valign=bottom width=16% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">260,693</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=84% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:9.35pt;margin-right:0pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Professional Services</font></font></p>
  </td>
 <td valign=bottom width=16% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">103,714</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=84% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:9.35pt;margin-right:0pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Annual General Shareholders&#8217; Meeting Expenses</font></font></p>
  </td>
 <td valign=bottom width=16% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">167,552</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=84% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin-bottom:0cm;margin-left:9.35pt;margin-right:0pt;margin-top:0cm;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Other</font></font></p>
  </td>
 <td valign=bottom width=16% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">5,908</font></font></p>
  </td>
 </tr>
</table>


</div>

<p align=center style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">PART II</font></b></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<h1 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 13.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">DEFAULTS,
DIVIDEND ARREARAGES AND DELINQUENCIES </font></b></font></h1>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 14.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">MATERIAL
MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS</font></b></font></h1>

<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 15.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">CONTROLS
AND PROCEDURES</font></b></font></h1>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Conclusion Regarding the Effectiveness of
Disclosure Controls and Procedures</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31,
2018, BBVA, under the supervision and with the participation of BBVA&#8217;s
management, including our Group Executive Chairman, Chief Executive Officer and
Chief Financial Officer, performed an evaluation of the effectiveness of the
design and operation of our disclosure controls and procedures (as defined in
Rule 13a-15(e) under the Exchange Act). There are inherent limitations to the
effectiveness of any control system, including disclosure controls and procedures.
Accordingly, even effective disclosure controls and procedures can provide only
reasonable assurance of achieving their control objectives.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Based upon their
evaluation, BBVA&#8217;s Group Executive Chairman, Chief Executive Officer and&#160; Chief
Financial Officer concluded that BBVA&#8217;s disclosure controls and procedures are
effective at a reasonable assurance level in ensuring that information relating
to BBVA, including its consolidated subsidiaries, required to be disclosed in
reports that it files under the Exchange Act is&#160; (1) recorded, processed,
summarized and reported within the time periods specified in the SEC&#8217;s rules
and forms, and (2) accumulated and communicated to the management, including
principal financial officers, as appropriate to allow timely decisions
regarding required disclosure.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">264</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Management&#8217;s
Report on Internal Control Over Financial Reporting</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:13.05pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The management of BBVA is responsible for establishing and
maintaining adequate internal control over financial reporting as defined in
Rule 13a-15(f) under the Exchange Act. BBVA&#8217;s internal control over financial
reporting is a process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting
principles and includes those policies and procedures that:</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;vertical-align:baseline;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">pertain to the maintenance of records that, in
reasonable detail, accurately and fairly reflect the transactions and
dispositions of the assets of BBVA;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;vertical-align:baseline;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and that our receipts
and expenditures are being made only in accordance with authorizations of
BBVA&#8217;s management and directors; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;vertical-align:baseline;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face="Times New Roman,serif" style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">provide reasonable assurance regarding prevention or
timely detection of unauthorized acquisition, use or disposition of our assets
that could have a material effect on the financial statements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:13.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Because of its inherent
limitations, internal control over financial reporting may not prevent or
detect misstatements. Also, projections of any evaluation of effectiveness to
future periods are subject to the risk that controls may become inadequate
because of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under the supervision and with
the participation of BBVA&#8217;s management, including our Group Executive
Chairman,&nbsp;Chief Executive Officer and&#160; Chief Financial Officer, we
conducted an evaluation of the effectiveness of our internal control over
financial reporting based on the criteria established in </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Internal Control &#8211;
Integrated Framework (2013)&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> issued by the Committee of Sponsoring
Organizations of the Treadway Commission (&#8220;COSO&#8221;). Based on this assessment,
our management concluded that, as of December 31, 2018, our internal control
over financial reporting was effective based on those criteria</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:11.9pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><b><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in Internal Control Over Financial
Reporting</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:1.0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">There have been no changes in
BBVA&#8217;s internal control over financial reporting (as defined in Rule 13a-15(f)
under the Exchange Act) which have materially affected or are reasonably likely
to materially affect BBVA&#8217;s internal control over financial reporting during
the year ended December 31, 2018. BBVA adopted IFRS 9 on January 1, 2018 and
has updated and modified certain controls over financial reporting as a result
of the new accounting standard, embedding them into the existing control
environment.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:11.9pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Our internal control over
financial reporting as of December 31, 2018 has been audited by KPMG Auditores
S.L., an independent registered public accounting firm, as stated in their
report which follows below.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p align=center style="border:none;margin-bottom:8.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">REPORT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-indent:11.9pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">To the Shareholders and Board of
Directors </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;page-break-after:avoid;text-align:justify;text-indent:11.9pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Banco
Bilbao Vizcaya Argentaria, S.A.:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Opinion on Internal Control Over Financial Reporting</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We have
audited Banco Bilbao Vizcaya Argentaria, S.A. and subsidiaries&#8217; (the Company)
internal control over financial reporting as of December 31, 2018, based on
criteria established in Internal Control &#8211; Integrated Framework (2013) issued
by the Committee of Sponsoring Organizations of the Treadway Commission. In our
opinion, the Company maintained, in all material respects, effective internal
control over financial reporting as of December 31, 2018, based on criteria
established in Internal Control &#8211; Integrated Framework (2013) issued by the
Committee of Sponsoring Organizations of the Treadway Commission.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We also
have audited, in accordance with the standards of the Public Company Accounting
Oversight Board (United States) (PCAOB), the consolidated balance sheets of the
Company as of December 31, 2018 and 2017, the related consolidated statements
of income, recognized income and expenses, changes in equity, and cash flows
for the years then ended, and the related notes&#160; (collectively, the
consolidated financial statements), and our report dated March 28, 2019
expressed an unqualified opinion on those consolidated financial statements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Basis for Opinion</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
Company&#8217;s management is responsible for maintaining effective internal control
over financial reporting and for its assessment of the effectiveness of
internal control over financial reporting, included in the accompanying
Management&#8217;s Report on Internal Control Over Financial Reporting. Our
responsibility is to express an opinion on the Company&#8217;s internal control over
financial reporting based on our audit. We are a public accounting firm
registered with the PCAOB and are required to be independent with respect to
the Company in accordance with the U.S. federal securities laws and the
applicable rules and regulations of the Securities and Exchange Commission and
the PCAOB.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We
conducted our audit in accordance with the standards of the PCAOB. Those
standards require that we plan and perform the audit to obtain reasonable
assurance about whether effective internal control over financial reporting was
maintained in all material respects. Our audit of internal control over financial
reporting included obtaining an understanding of internal control over
financial reporting, assessing the risk that a material weakness exists, and
testing and evaluating the design and operating effectiveness of internal
control based on the assessed risk. Our audit also included performing such
other procedures as we considered necessary in the circumstances. We believe
that our audit provides a reasonable basis for our opinion.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Definition and Limitations of Internal Control Over
Financial Reporting</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A
company&#8217;s internal control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles. A company&#8217;s internal control
over financial reporting includes those policies and procedures that (1)
pertain to the maintenance of records that, in reasonable detail, accurately
and fairly reflect the transactions and dispositions of the assets of the
company; (2) provide reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and expenditures of
the company are being made only in accordance with authorizations of management
and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use, or disposition
of the company&#8217;s assets that could have a material effect on the financial
statements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Because
of its inherent limitations, internal control over financial reporting may not
prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may
become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;page-break-after:avoid;text-align:justify;text-indent:11.9pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">/s/&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">KPMG Auditores, S.L.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-indent:11.9pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;Madrid, Spain</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;text-align:justify;text-indent:11.9pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">March 28, 2019</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ITEM 16.&#160;&#160;&#160;&#160;&#160; &#160;[RESERVED]</font></b></font></p>

<h1 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 16A.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">AUDIT
COMMITTEE FINANCIAL EXPERT </font></b></font></h1>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:21.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The charter for our Audit and Compliance Committee provides
that the members of the Audit and Compliance Committee, and particularly its
Chairman, shall be appointed with regard to their knowledge and background in
accounting, auditing and risk management, and we have determined that Mr. Jos&#233;
Miguel Andr&#233;s Torrecillas, the Chairman of the Audit and Compliance Committee
has such experience and knowledge and is an &#8220;audit committee financial expert&#8221;
as such term is defined by the regulations of the Securities and Exchange
Commission issued pursuant to Section 407 of the Sarbanes-Oxley Act of 2002.
Mr. Andr&#233;s is independent within the meaning of the New York Stock Exchange
listing standards.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:21.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In addition, we believe that the remaining members of the
Audit and Compliance Committee have an understanding of applicable generally
accepted accounting principles, experience analyzing and evaluating financial
statements that present a breadth and level of complexity of accounting issues
that are generally comparable to the breadth and complexity of issues that can
reasonably be expected to be raised by our Consolidated Financial Statements,
an understanding of internal controls over financial reporting, and an understanding
of audit committee functions. Our Audit and Compliance Committee has experience
overseeing and assessing the performance of BBVA and its consolidated
subsidiaries and our external auditors with respect to the preparation,
auditing and evaluation of our Consolidated Financial Statements.</font></font></p>

<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 16B.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">CODE
OF ETHICS</font></b></font></h1>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The BBVA Group Code of Conduct,
which was updated by the Board of Directors on May 28, 2015, applies to all
companies and persons which form part of the BBVA Group. This Code sets out the
standards of behavior that should be adhered to so that the Group&#8217;s conduct
towards its customers, colleagues and the society be consistent with BBVA&#8217;s
values. The BBVA Group Code of Conduct can be found on BBVA&#8217;s website at
www.bbva.com.</font></font></p>

<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;">&nbsp;</h1>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">267</font></font></p>


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<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 16C.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;
&nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">PRINCIPAL ACCOUNTANT FEES AND SERVICES</font></b></font></h1>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table provides information on the aggregate
fees paid and payable by our principal accountants KPMG Auditores S.L. and its
worldwide affiliates, by type of service rendered for the periods indicated.</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:5.65pt;">
  <td width=70% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
   </td>
 <td colspan=2 width=20% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
   </td>
 <td width=10% style="border:none;padding:0cm 0cm 0cm 0cm;"><p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=bottom width=70% style="height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:2.0pt;">&nbsp;</font></font></p>
   </td>
 <td colspan=3 valign=bottom width=30% style="height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Year ended
   December 31,</font></b></font></p>
   <div style="border:none;border-top:solid windowtext 1.0pt;padding:1.0pt 31.0pt 31.0pt 31.0pt;">
   <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:1.0pt;">&nbsp;</font></font></p>
   </div>

   </td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=bottom width=70% style="height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">Services Rendered</font></b></font></p>
<div style="border:none;border-top:solid windowtext 1.0pt;padding:1.0pt 31.0pt 31.0pt 31.0pt;">
   <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:1.0pt;">&nbsp;</font></font></p>
   </div>

   </td>
 <td valign=bottom width=15% style="height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">2018</font></b></font></p>
<div style="border:none;border-top:solid windowtext 1.0pt;padding:1.0pt 31.0pt 31.0pt 31.0pt;">
   <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:1.0pt;">&nbsp;</font></font></p>
   </div>

   </td>
 <td colspan=2 valign=bottom width=15% style="height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">2017</font></b></font></p>
<div style="border:none;border-top:solid windowtext 1.0pt;padding:1.0pt 31.0pt 31.0pt 31.0pt;">
   <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:1.0pt;">&nbsp;</font></font></p>
   </div>

   </td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=bottom width=70% style="height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;line-height:2.0pt;">&nbsp;</font></font></p>
   </td>
 <td colspan=3 valign=bottom width=30% style="height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
   <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">(In Millions
   of Euros)</font></b></font></p>
   </td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=bottom width=70% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-left:12.0pt;margin-right:0cm;page-break-after:avoid;text-indent:-12.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Audit Fees</font></font><sup><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(1)</font></font></sup></p>
  </td>
 <td nowrap width=15% style="background:white;height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:11.9pt;margin-top:0cm;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">22.7</font></font></p>
  </td>
 <td colspan=2 nowrap width=15% style="height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:11.9pt;margin-top:0cm;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">23.3</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=bottom width=70% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-left:12.0pt;margin-right:0cm;page-break-after:avoid;text-indent:-12.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Audit-Related Fees</font></font><sup><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(2)</font></font></sup></p>
  </td>
 <td nowrap width=15% style="background:white;height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:11.9pt;margin-top:0cm;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">5.2</font></font></p>
  </td>
 <td colspan=2 nowrap width=15% style="height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:11.9pt;margin-top:0cm;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">6.1</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=bottom width=70% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-left:12.0pt;margin-right:0cm;page-break-after:avoid;text-indent:-12.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Tax Fees</font></font><sup><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(3)</font></font></sup></p>
  </td>
 <td nowrap width=15% style="background:white;height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:11.9pt;margin-top:0cm;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td colspan=2 nowrap width=15% style="height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:11.9pt;margin-top:0cm;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=bottom width=70% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-left:12.0pt;margin-right:0cm;page-break-after:avoid;text-indent:-12.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">All Other Fees</font></font><sup><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(4)</font></font></sup></p>
  </td>
 <td nowrap width=15% style="background:white;border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:11.9pt;margin-top:0cm;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td colspan=2 nowrap width=15% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:11.9pt;margin-top:0cm;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">0.2</font></font></p>
  </td>
 </tr>
<tr style="height:12.85pt;">
  <td valign=bottom width=70% style="height:12.85pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-left:0cm;margin-right:0cm;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Total</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="background:white;border:none;height:12.85pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:11.9pt;margin-top:0cm;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">27.9</font></font></p>
  </td>
 <td colspan=2 nowrap valign=bottom width=15% style="border:none;height:12.85pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:11.9pt;margin-top:0cm;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">29.6</font></font></p>
  </td>
 </tr>
<tr height=0>
  <td width=70% style="border:none;">&nbsp;</td>
 <td width=15% style="border:none;">&nbsp;</td>
 <td width=5% style="border:none;">&nbsp;</td>
 <td width=10% style="border:none;">&nbsp;</td>
 </tr>
</table>


</div>

<div style="border:none;border-bottom:solid windowtext 1.0pt;margin-left:0cm;margin-right:396.0pt;padding:31.0pt 31.0pt 1.0pt 31.0pt;">

<p style="border:none;margin-bottom:2.5pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>

</div>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Aggregate fees paid and payable for each of the last two
fiscal years for professional services rendered by our principal accountants
and&#160; its worldwide affiliates for the audit of BBVA&#8217;s annual financial
statements or services that are normally provided by our principal accountants&#160;
and&#160; its worldwide affiliates in connection with statutory and regulatory
filings or engagements for those fiscal years.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Aggregate fees paid and payable in each of the last two
fiscal years for assurance and related services by our principal accountants&#160;
and&#160; its worldwide affiliates that are reasonably related to the performance of
the audit or review of BBVA&#8217;s financial statements and are not reported under
(1)&nbsp;above.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Aggregate fees paid and payable in each of the last two
fiscal years for professional services rendered by our principal accountants
and&#160; its worldwide affiliates for tax compliance, tax advice, and tax planning.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Aggregate fees paid and payable in each of
the last two fiscal years for products and services provided by our principal
accountants and&#160; its worldwide affiliates other than the services reported in
(1), (2)&nbsp;and (3)&nbsp;above. Services in this category consisted primarily
of consultancy and implementation of new regulation.</font></font><font style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">268</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Audit and Compliance
Committee&#8217;s Pre-Approval Policies and Procedures</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In order to assist in ensuring the independence of our external auditor,
the regulations of our Audit and Compliance Committee provides that our
external auditor is generally prohibited from providing us with non-audit
services, other than under the specific circumstance described below. For this
reason, our Audit and Compliance Committee has developed a pre-approval policy
regarding the contracting of BBVA&#8217;s external auditor, or any affiliate of the
external auditor, for professional services. The professional services covered
by such policy include audit and non-audit services provided to BBVA or any of
its subsidiaries reflected in agreements dated on or after May 6, 2003.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The pre-approval policy is as follows:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-35.45pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">1.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The hiring of BBVA&#8217;s external auditor
or any of its affiliates is prohibited, unless there is no other firm available
to provide the needed services at a comparable cost and that could deliver a
similar level of quality.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-35.45pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the event that there is no other
firm available to provide needed services at a comparable cost and delivering a
similar level of quality, the external auditor (or any of its affiliates) may
be hired to perform such services, but only with the pre-approval of the Audit
and Compliance Committee.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-35.45pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">3.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Chairman of the Audit and
Compliance Committee has been delegated the authority to approve the hiring of
BBVA&#8217;s external auditor (or any of its affiliates). In such an event, however,
the Chairman would be required to inform the Audit and Compliance Committee of
such decision at the Committee&#8217;s next meeting.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-35.45pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">4.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The hiring of the external auditor for
any of BBVA&#8217;s subsidiaries must also be pre-approved by the&#160; Audit and
Compliance Committee.</font></font></p>

<h1 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 16D.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">EXEMPTIONS
FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES </font></b></font></h1>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:24.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not Applicable.</font></font></p>

<h1 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 16E.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">PURCHASES
OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS</font></b></font></h1>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:12.75pt;">
  <td rowspan=3 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td rowspan=3 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total Number of Ordinary
  Shares Purchased</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;"> &nbsp;</font></font></p>
  </td>
 <td rowspan=3 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Average&nbsp;Price
  Paid&nbsp;per&nbsp;Share (or Unit)</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;"> </font><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">in Euros</font></b></font></p>
  </td>
 <td rowspan=3 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Total Number of Shares (or
  Units) Purchased as Part of Publicly Announced Plans or Programs</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;"> &nbsp;</font></font></p>
  </td>
 <td rowspan=3 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">Maximum Number (or
  Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased
  Under the Plans or Programs&#160; </font></b></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:24.0pt;">
  <td style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">January&nbsp;1 to
  January&nbsp;31 </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">10,576,152
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">7.37</font></font></p>
  </td>
 <td nowrap style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;&nbsp;&nbsp; </font></font></p>
  </td>
 <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:24.0pt;">
  <td style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">February&nbsp;1 to
  February&nbsp;28 </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">34,678,539
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">7.06</font></font></p>
  </td>
 <td nowrap style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;&nbsp;&nbsp; </font></font></p>
  </td>
 <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">March&nbsp;1 to March&nbsp;31
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">24,133,223
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6.60</font></font></p>
  </td>
 <td nowrap style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;&nbsp;&nbsp; </font></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">April&nbsp;1 to April&nbsp;30
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">21,355,583
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6.45</font></font></p>
  </td>
 <td nowrap style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;&nbsp;&nbsp; </font></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">May&nbsp;1 to May&nbsp;31 </font></font></p>
  </td>
 <td nowrap style="background:white;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">22,620,981
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6.39</font></font></p>
  </td>
 <td nowrap style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;&nbsp;&nbsp; </font></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">June&nbsp;1 to June&nbsp;30 </font></font></p>
  </td>
 <td nowrap style="background:white;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">29,272,628
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6.14</font></font></p>
  </td>
 <td nowrap style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;&nbsp;&nbsp; </font></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">July&nbsp;1 to July&nbsp;31 </font></font></p>
  </td>
 <td nowrap style="background:white;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">16,255,315
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6.08</font></font></p>
  </td>
 <td nowrap style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;&nbsp;&nbsp; </font></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:24.0pt;">
  <td style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">August&nbsp;1 to
  August&nbsp;31 </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">20,605,698
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">5.64</font></font></p>
  </td>
 <td nowrap style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;&nbsp;&nbsp; </font></font></p>
  </td>
 <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:24.0pt;">
  <td style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">September&nbsp;1 to
  September&nbsp;30 </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">24,846,251
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">5.58</font></font></p>
  </td>
 <td nowrap style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;&nbsp;&nbsp; </font></font></p>
  </td>
 <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:24.0pt;">
  <td style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">October&nbsp;1 to
  October&nbsp;31 </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">32,025,964
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">5.13</font></font></p>
  </td>
 <td nowrap style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;&nbsp;&nbsp; </font></font></p>
  </td>
 <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:24.0pt;">
  <td style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">November&nbsp;1 to
  November&nbsp;30 </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">22,330,170
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">4.95</font></font></p>
  </td>
 <td nowrap style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;&nbsp;&nbsp; </font></font></p>
  </td>
 <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:24.75pt;">
  <td style="height:24.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">December&nbsp;1 to
  December&nbsp;31 </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">21,203,340
  </font></font></p>
  </td>
 <td nowrap style="background:white;height:24.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">5.24</font></font></p>
  </td>
 <td nowrap style="height:24.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap style="height:24.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;&nbsp;&nbsp; </font></font></p>
  </td>
 <td height=33 style="border:none;height:24.75pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="height:13.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:9.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">Total</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;"> &nbsp;</font></font></p>
  </td>
 <td nowrap style="background:white;border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;height:13.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;text-indent:9.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">279,903,844
  </font></b></font></p>
  </td>
 <td style="background:white;height:13.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">6.01</font></b></font></p>
  </td>
 <td nowrap style="height:13.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap style="height:13.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&#8212;&nbsp;&nbsp; </font></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-left:0cm;margin-right:0cm;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">During 2018, we sold a total of 245,985,735
shares for an average price of &#8364;6.13 per share.</font></font></p>

<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 16F.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">CHANGE
IN REGISTRANT</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">&#8217;</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">S
CERTIFYING ACCOUNTANT</font></b></font></h1>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not applicable.</font></font></p>

<h1 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;line-height:150%;">ITEM
16G.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; CORPORATE GOVERNANCE</font></b></font></h1>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Compliance with NYSE Listing Standards on Corporate
Governance</font></i></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On November 4, 2003, the SEC approved rules proposed by the
New York Stock Exchange (the &#8220;NYSE&#8221;) intended to strengthen corporate
governance standards for listed companies. In compliance therewith, the
following is a summary of the significant differences between our corporate
governance practices and those applicable to domestic issuers under the NYSE
listing standards.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-indent:11.9pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Independence of the Directors
on the Board of Directors and Board Committees</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">Under
the NYSE corporate governance rules, (i) a majority of a U.S. company&#8217;s board
of directors must be composed of independent directors, (ii) all members of the
audit committee must be independent and (iii) all U.S. companies listed on the
NYSE must have a compensation committee and a nominations committee and all
members of such committees must be independent. In each case, the independence
of directors must be established pursuant to highly detailed rules promulgated
by the NYSE and, in the case of the audit committee, the NYSE and the SEC.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">Spanish
Corporate Enterprises Act sets out a definition of what constitutes
independence for the purpose of board or committee membership. Such definition
is in line with the definition provided by our Board Regulations.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">In
addition, pursuant to the Spanish Corporate Enterprises Act, listed companies
shall have, at least, an audit committee and an appointments and remuneration
committee. This Law also establishes that such committees (i)&nbsp;shall be
composed exclusively by non-executive directors, (ii) shall have a majority of
independent directors (in the case of the audit committee) or at least two of
their members shall be independent directors (in the case of the appointments
and remuneration committee) and (iii) they shall be chaired by an independent
director.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">Likewise,
Law 10/2014, which completes the transposition of CRD IV into Spanish
legislation, includes rules on corporate governance, among others, as regards
board committees and their membership, establishing that the remuneration
committee, the appointments committee and risk committee shall be composed of
non-executive directors and at least one third of their members shall be
independent and, in any event, the Chairman of these committees shall also be
an independent director.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">Moreover, pursuant to the Good
Governance Code <a name="_cp_text_1_1206"></a>for Listed Companies of the CNMV,
which includes non-binding recommendations applicable to listed companies in
Spain, under the comply or explain principle: (i)&nbsp;independent directors
must represent, at least, half of the total board members; (ii) the majority of
the members of the audit committee and the appointments and remuneration
committee must be independent; and (iii) companies with high market
capitalization must have two separate committees, an appointments committee and
a remuneration committee.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">Pursuant to article 1
of our Board Regulations, BBVA considers that independent directors are
non-executive directors appointed for their personal and professional
background who can perform their duties without being constrained by their
relations with the Company or its Group, its significant shareholders or its
executives. Directors cannot be deemed independent if they</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">a)&#160;&#160; have been employees or executive directors in Group
companies, unless three or five years have elapsed, respectively since they
ceased as employees or executive directors, as the case may be;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">b)&#160; receive from the Company or its Group entities, any
amount or benefit for an item other than remuneration for their directorship,
except where the sum is insignificant and expect further for dividends or
pension supplements that a director may receive due to a former professional or
employment relationship, provided these are unconditional and, consequently,
the company paying them may not at its own discretion, suspend, amend or revoke
their accrual unless there has been a breach of duty;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">c)&#160;&#160; are partners of the external auditor or in charge of
the audit report or have been so in the last three years, whether the audit in
question was carried out on the Company or any other Group entity;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">d)&#160;&#160; are executive directors or senior managers of another
company in which a Company&#8217;s executive director or senior manager is an
external director;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">e)&#160;&#160; maintain any significant business relationship with
the Company or with any Group company or have done so over the last year,
either in their own name or as a significant shareholder, director or senior
manager of a company that maintains or has maintained such a relationship.
Business relationship here means any relationship as supplier of goods or
services, including financial goods or services, and as advisor or consultant;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">f)&#160;&#160; are significant shareholders, executive directors or
senior managers of any entity that receives, or has received over the last
three years, donations from the Company or its Group. Those persons who are
merely trustees in a foundation receiving donations shall not be deemed to be
included under this letter;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">g)&#160;&#160; are spouses, or spousal equivalents or related up to
second degree of kinship to an executive director or senior manager of the
Company;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">h)&#160;&#160; have not been proposed by the Appointments Committee
for appointment or renewal;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">i)&#160;&#160; have held a directorship for a continuous period of
more than 12 years; or</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">j)&#160;&#160; are related to any significant shareholder or
shareholder represented on the Board of Directors under any of the
circumstances described under letters (a), (e), (f) or (g) above. In the event
of kinship relationships mentioned in letter (g), the limitation will apply not
only with respect to the shareholder, but also with respect to their
proprietary directors in the company in which the shareholder holds an
interest.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">Directors
who hold shares in the Bank may be considered independent provided they comply
with the above conditions and their shareholding is not legally considered to
be significant.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">As
of the date of this Annual Report, our Board of Directors has a large number of
non-executive directors and eight out of the 15 members of our Board are
independent under the definition of independence described above, which is in
line with the definition provided by the Spanish Corporate Enterprises Act.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">271</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">In addition, our Audit and Compliance
Committee is composed exclusively of independent directors, who are not members
of the Bank&#8217;s Executive Committee and the <a name="_cp_text_1_1209"></a>Committee chairman
has experience in accounting, auditing and risk management, in accordance with
the specific regulations of the Audit and Compliance Committee. Our Risk
Committee is composed exclusively of non-executive directors, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">the majority of whom (including its
chairman) are independent directors</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">. Also, in accordance with the Corporate Enterprises Act and with
corporate governance non-binding recommendations, our Board of Directors has
two separate committees: an Appointments Committee and a Remuneration
Committee, which are composed exclusively of non-executive directors</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">the majority of whom (</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">including</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">
their chairman) are independent directors</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:11.9pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:5.95pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Separate Meetings for Independent
Directors</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">In accordance with the NYSE corporate governance
rules, independent directors must meet periodically outside of the presence of
the executive directors. Under Spanish law, this requirement is not
contemplated as such. We note, however, that our non-executive directors meet
periodically outside the presence of our executive directors every time a
Committee with oversight functions meets, since these Committees are comprised
solely of non- executive directors. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">Furthermore</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">, the
Board of Directors has appointed a Lead Director with powers to coordinate and
meet with the non-executive directors, among other faculties conferred by the
law and in Article 5 ter of our Board of Directors Regulations. In addition,
our independent directors meet outside the presence of our executive directors
as often as they deem fit, and usually prior to meetings of the Board of
Directors or its Committees.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:11.9pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:5.95pt;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Code of Ethics</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">The
NYSE listing standards require U.S. companies to adopt a code of business
conduct and ethics for directors, officers and employees, and promptly disclose
any waivers of the code for directors or executive officers. For information
with respect to BBVA&#8217;s code of business conduct and ethics see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;font-weight:normal;">&#8220;Item 16 B.
Code of Ethics&#8221;.</font></i></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 16H.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">MINE
SAFETY DISCLOSURE</font></b></font></h1>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Not
Applicable.</font></font></p>

<p align=center style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">PART III</font></b></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



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&nbsp;</font>



<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 17.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">FINANCIAL
STATEMENTS</font></b></font></h1>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We have responded to Item&nbsp;18 in lieu of responding to this Item. </font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 18.</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">FINANCIAL
STATEMENTS </font></b></font></h1>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Please see pages F-1 through F-319.</font></font><font style="border:none;">
&nbsp;</font></p>



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&nbsp;</font>



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&nbsp;</font>



<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;">&nbsp;</h1>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">272</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h1 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">ITEM 19</font></b></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;&#160;
&nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;EXHIBITS &nbsp;</font></b></font></h1>

<p style="border:none;margin-bottom:0cm;margin-left:28.05pt;margin-right:360.0pt;margin-top:0cm;padding:0cm;text-indent:37.4pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;line-height:6.0pt;">&nbsp;</font></font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr>
  <td valign=bottom width=17% style="padding:0cm 0cm 0cm 7.2pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:7.5pt;">Exhibit</font></b></font></p>
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:7.5pt;">Number</font></b></font></p>
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
   </td>
 <td colspan=2 valign=bottom width=83% style="padding:0cm 0cm 0cm 7.2pt;">
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:7.5pt;">Description</font></b></font></p>
   <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
   </td>
 </tr>
<tr style="height:6.0pt;">
  <td width=17% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=83% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">1.1</font></font></p>
  </td>
 <td valign=top width=82% style="padding:0cm 0cm 0cm 0cm;">
  <a style="-sec-extract:exhibit" HREF="http://www.sec.gov/Archives/edgar/data/842180/000084218018000006/d20f2017exhibits1.htm"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Amended and Restated Bylaws (Estatutos)
  of the Registrant (English translation) (*)</font></font></a>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=82% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">8.1</font></font></p>
  </td>
 <td valign=top width=82% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Consolidated Companies Composing
  Registrant (see Appendix I to IX to our Consolidated Financial Statements
  included herein)</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=82% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:23.15pt;">
  <td colspan=2 valign=top width=18% style="height:23.15pt;padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">10.1</font></font></p>
  </td>
 <td width=82% style="height:23.15pt;padding:0cm 0cm 0cm 0cm;">
  <a style="-sec-extract:exhibit" HREF="http://www.sec.gov/Archives/edgar/data/842180/000119312519039617/d706922d6k.htm"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Information on Compensation Plans (**)</font></font></a>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">12.1</font></font></p>
  </td>
 <td valign=top width=82% style="padding:0cm 0cm 0cm 0cm;">
  <a style="-sec-extract:exhibit" href="d20f2018exhibits12.htm"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Section 302 Group Executive Chairman
  Certification</font></font></a>
  </td>
 </tr>
<tr style="height:6.0pt;">
  <td colspan=2 width=18% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=82% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">12.2</font></font></p>
  </td>
 <td valign=top width=82% style="padding:0cm 0cm 0cm 0cm;">
  <a style="-sec-extract:exhibit" href="d20f2018exhibits1202.htm"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Section 302 Chief Executive Officer
  Certification</font></font></a>
  </td>
 </tr>
<tr style="height:6.0pt;">
  <td colspan=2 width=18% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=82% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">12.3</font></font></p>
  </td>
 <td valign=top width=82% style="padding:0cm 0cm 0cm 0cm;">
  <a style="-sec-extract:exhibit" href="d20f2018exhibits1203.htm"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Section 302 Chief Financial Officer
  Certification</font></font></a>
  </td>
 </tr>
<tr style="height:6.0pt;">
  <td colspan=2 width=18% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=82% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">13.1</font></font></p>
  </td>
 <td valign=top width=82% style="padding:0cm 0cm 0cm 0cm;">
  <a style="-sec-extract:exhibit" href="d20f2018exhibits13.htm"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Section 906 Certification</font></font></a>
  </td>
 </tr>
<tr style="height:6.0pt;">
  <td colspan=2 width=18% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=82% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">15.1</font></font></p>
  </td>
 <td valign=top width=82% style="padding:0cm 0cm 0cm 0cm;">
  <a style="-sec-extract:exhibit" href="d20f2018exhibits151.htm"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Consent of Independent Registered
  Public Accounting Firm</font></font></a>
  </td>
 </tr>
<tr>
  <td colspan=2 width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=82% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">15.2</font></font></p>
  </td>
 <td width=82% style="padding:0cm 0cm 0cm 0cm;">
  <a style="-sec-extract:exhibit" href="d20f2018exhibits152.htm"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Consent of Independent Registered
  Public Accounting Firm</font></font></a>
  </td>
 </tr>
<tr>
  <td colspan=2 width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=82% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">101</font></font></p>
  </td>
 <td valign=top width=82% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Interactive Data File</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=3 valign=top width=100% style="padding:0cm 0cm 0cm 7.2pt;">
  <div style="border:none;border-bottom:solid windowtext 1.0pt;margin-left:0cm;margin-right:396.0pt;padding:31.0pt 31.0pt 1.0pt 31.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:2.5pt;padding:0cm;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </div>

  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(*) Incorporated by reference to BBVA&#8217;s Annual Report on Form
  20-F for the year ended December 31, 2017</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(**) Incorporated by reference to BBVA&#8217;s report on Form 6-K
  submitted on February 14, 2019 (SEC Accession No. 0001193125-19-039617).</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">We will furnish to the Commission,
  upon request, copies of any unfiled instruments that define the rights of
  holders of our long-term debt.</font></font></p>
  </td>
 </tr>
<tr height=0>
  <td width=17% style="border:none;">&nbsp;</td>
 <td width=1% style="border:none;">&nbsp;</td>
 <td width=82% style="border:none;">&nbsp;</td>
 </tr>
</table>


</div>

<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">273</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">SIGNATURES</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pursuant to the requirements of Section&nbsp;12 of the
Securities Exchange Act of 1934, the Registrant certifies that it meets all of
the requirements for filing on Form 20-F and had duly caused this Annual Report
to be signed on its behalf by the undersigned, thereto duly authorized. </font></font></p>

<div align=right>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:4.0pt;">
  <td width=21% style="height:4.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:.5pt;">&nbsp;</font></font></p>
  </td>
 <td width=79% style="height:4.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:.5pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-left:12.0pt;margin-right:0cm;text-indent:-12.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  <p style="border:none;margin-left:12.0pt;margin-right:0cm;text-indent:-12.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">BANCO BILBAO VIZCAYA ARGENTARIA, S.A.</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=21% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=79% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=21% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-left:12.0pt;margin-right:0cm;text-indent:-12.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">By:&#160;&#160;&#160; </font></font></p>
  </td>
 <td valign=bottom width=79% style="padding:0cm 0cm 0cm 0cm;">
  <div style="border:none;border-bottom:solid black 1.0pt;padding:31.0pt 31.0pt 0cm 31.0pt;">
  <p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;padding:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;">/s/ </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Jaime
  S&#225;enz de Tejada Pulido</font></font></p>
  </div>

<div style="border:none;border-top:solid black 1.0pt;padding:0cm 31.0pt 31.0pt 31.0pt;">
  <p align=left style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;text-align:left;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:4.0pt;line-height:1.0pt;">&nbsp;</font></font></p>
  </div>

  </td>
 </tr>
<tr>
  <td valign=top width=21% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-left:12.0pt;margin-right:0cm;text-indent:-12.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Name:&#160;&#160; </font></font></p>
  </td>
 <td valign=bottom width=79% style="padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Jaime
  S&#225;enz de Tejada Pulido</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;"> &nbsp;</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=top width=21% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-left:12.0pt;margin-right:0cm;text-indent:-12.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Title: </font></font></p>
  </td>
 <td valign=bottom width=79% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Chief
  Financial Officer</font></font></p>
  </td>
 </tr>
</table>


</div>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Date: March 28, 2019</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><a name="_Toc298431712"></a><a name="_Toc299029448"></a><a name="_Toc299031530"></a><a name="_Toc299032869"></a><a name="_Toc331260310"></a><a name="_Toc347755848"></a><a name="_Toc376949938"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">274</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font style="border:none;display:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="_Toc363037098"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><a name="_Toc363037099"></a><font color=#004580 style="border:none;"><font color=#004580 face="Times New Roman,serif" lang=EN-US style="font-size:36.0pt;line-height:115%;">Consolidated Financial Statements and Reports of Independent Registered
Public Accounting Firms for the years 2018, 2017, and 2016</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:justify;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


</DIV>
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font color=#004580 style="border:none;"><font color=#004580 face="Times New Roman,serif" lang=EN-US style="font-size:26.0pt;line-height:115%;">Contents</font></font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;text-align:justify;"><font face="Times New Roman,serif" style="border:none;"><b><font color=#072146 face="Times New Roman,serif" lang=EN-US style="font-size:14.0pt;">CONSOLIDATED FINANCIAL STATEMENTS</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:.9pt;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=87% style="height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_285"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Consolidated balance sheets</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-3</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=87% style="height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_288"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Consolidated income statements</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-6</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=87% style="height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_289"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Consolidated statements of recognized income and expenses</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-7</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=87% style="height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_290"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Consolidated statements of changes in equity</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-8</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=87% style="height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_293"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Consolidated statements of cash flows</font></u></a></font></p>
  </td>
 <td nowrap valign=bottom width=13% style="height:15.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-11</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;text-align:justify;"><font face="Times New Roman,serif" style="border:none;"><b><font color=#072146 face="Times New Roman,serif" lang=EN-US style="font-size:14.0pt;">NOTES TO THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">1.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_294"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Introduction, basis for the presentation of the Consolidated
  Financial Statements, internal control over financial information and other
  information</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-12</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">2.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_298"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Principles of consolidation, accounting policies and
  measurement bases applied and recent IFRS pronouncements</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-16</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">3.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_345"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Group</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-63</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">4.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_348"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Shareholder remuneration system</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-66</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">5.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_351"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Earnings per share</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-69</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">6.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_352"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating segment reporting</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-70</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">7.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_355"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Risk management</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-73</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">8.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_422"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fair Value of financial instruments</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-140</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">9.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_435"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Cash, cash balances at central banks and other demands
  deposits</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-153</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">10.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_436"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets and liabilities held for trading</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-154</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">11.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_442"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Non-trading financial assets mandatorily at fair value through
  profit or loss</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-160</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">12.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_442"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets and liabilities designated at fair value
  through profit or loss</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-160</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">13.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_443"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets at fair value through other comprehensive
  income</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-161</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">14.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_450"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial assets at amortized cost</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-168</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">15.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_452"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Hedging derivatives and fair value changes of the hedged items
  in portfolio hedges of interest rate risk</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-170</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">16.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_454"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investments in joint ventures, associates</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-172</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">17.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_456"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tangible assets</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-174</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">18.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_459"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Intangible assets</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-177</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">19.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_463"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tax assets and liabilities</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-181</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">20.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_467"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other assets and liabilities</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-185</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">21.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_468"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Non-current assets and disposal groups held for sale</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-186</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">22.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_471"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial liabilities at amortized cost</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-189</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">23.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_476"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Assets and Liabilities under insurance and reinsurance
  contracts</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-194</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">24.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_478"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-196</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">25.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_480"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Post-employment and other employee benefit commitments</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-198</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">26.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_489"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Common stock</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-207</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">27.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_492"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Share premium</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-210</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">28.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_492"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Retained earnings, revaluation reserves and other reserves</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-210</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">29.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_495"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Treasury shares</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-213</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">30.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_496"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Accumulated other comprehensive income (loss)</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-214</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">31.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_497"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Minority interest</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-215</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">32.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_498"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Capital base and capital management</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-216</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">33.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_501"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Commitments and guarantees given</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-219</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">34.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_501"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other contingent assets and liabilities</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-219</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">35.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_502"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Purchase and sale commitments and future payment obligations</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-220</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">36.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_503"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Transactions on behalf of third parties</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-221</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">37.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_504"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Net interest income</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-222</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">38.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_506"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Dividend income</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-224</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">39.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_506"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Share of profit or loss of entities accounted for using the
  equity method</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-224</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">40.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_507"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fee and commission income and expense</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-225</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">41.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_508"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Gains (losses) on financial assets and liabilities, net and
  Exchange differences</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-226</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">42.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_510"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other operating income and expense</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-228</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">43.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_511"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Income and expense from insurance and reinsurance contracts</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-229</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">44.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_512"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Administration costs</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-230</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">45.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_515"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Depreciation</font></u><u><font color=#0563C1 face="Times New Roman,serif" lang=ES style="font-size:10.0pt;"> and amortization</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-233</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">46.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_515"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions or (reversal) of provisions</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-233</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">47.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_516"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or (reversal) of impairment on financial assets not
  measured at fair value through profit or loss</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-234</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">48.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_516"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or (reversal) of impairment on non-financial assets</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-234</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">49.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_516"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Gains (losses) on derecognition of non - financial assets and
  subsidiaries, net</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-234</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">50.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_517"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit (loss) from non-current assets and disposal groups
  classified as held for sale not qualifying as discontinued operations</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-235</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">51.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_518"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Consolidated statements of cash flows</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-236</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">52.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_519"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Accountant fees and services</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-237</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">53.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_520"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Related-party transactions</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-238</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">54.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_522"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Remuneration and other benefits to the Board of Directors and
  to the members of the Bank&#8217;s Senior Management</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-240</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">55.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_534"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other information</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-252</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">56.</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_536"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Subsequent events</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-254</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:justify;"><font style="border:none;mso-ansi-language:ES-TRAD;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_282"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:107%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">&nbsp;</td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 style="border:none;"><b><font color=#072146 face="Times New Roman,serif" style="font-size:10.0pt;">APPENDICES</font></b></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">&nbsp;</td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_538"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">APPENDIX I Additional information on consolidated subsidiaries
  and consolidated structured entities composing the BBVA Group</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-256</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">&nbsp;</td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_546"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">APPENDIX II Additional information on investments joint
  ventures and associates in the BBVA Group</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-264</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">&nbsp;</td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_547"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">APPENDIX III Changes and notification of participations in the
  BBVA Group in 2018</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-265</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">&nbsp;</td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_550"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">APPENDIX IV Fully consolidated subsidiaries with more than 10%
  owned by non-Group shareholders as of December 31, 2018</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-268</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">&nbsp;</td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_551"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">APPENDIX V BBVA Group&#8217;s structured entities. Securitization
  funds</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-269</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">&nbsp;</td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_553"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">APPENDIX VI Details of the outstanding subordinated debt and
  preferred securities issued by the Bank or entities in the Group consolidated
  as of December 31, 2018, 2017 and 2016</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-271</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">&nbsp;</td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_557"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">APPENDIX VII Consolidated balance sheets held in foreign
  currency as of December 31, 2018, 2017 and 2016</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-275</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">&nbsp;</td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_560"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">APPENDIX VIII. Quantitative information on refinancing and
  restructuring operations and other requirement under Bank of Spain Circular
  6/2012</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-278</font></font></p>
  </td>
 </tr>
<tr style="height:10.7pt;">
  <td valign=top width=7% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">&nbsp;</td>
 <td valign=top width=81% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=BBVABentonSansLight style="border:none;"><a href="#page_576"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">APPENDIX IX Additional information on Risk Concentration</font></u></a></font></p>
  </td>
 <td valign=top width=12% style="height:10.7pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">F-294</font></font></p>
  </td>
 </tr>
</table></div>



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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p align=center style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">Report of Independent Registered Public Accounting Firm</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">To the Shareholders and Board of Directors</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Banco Bilbao Vizcaya Argentaria, S.A.:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Opinion on the Consolidated
Financial Statements</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We have audited the accompanying consolidated balance
sheets of Banco Bilbao Vizcaya Argentaria, S.A. and subsidiaries (the Company)
as of December 31, 2018 and 2017, the related consolidated statements of
income, recognized income and expenses, changes in equity, and cash flows for
the years then ended, and the related notes (collectively, the consolidated
financial statements). In our opinion, the consolidated financial statements
present fairly, in all material respects, the financial position of the Company
as of December 31, 2018 and 2017, and the results of its operations and its
cash flows for the years then ended, in conformity with International Financial
Reporting Standards as issued by the International Accounting Standards Board.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We also have audited, in accordance with the standards of
the Public Company Accounting Oversight Board (United States) (PCAOB), the
Company&#8217;s internal control over financial reporting as of December 31, 2018,
based on criteria established in Internal Control &#8211; Integrated Framework (2013)
issued by the Committee of Sponsoring Organizations of the Treadway Commission,
and our report dated March 28, 2019 expressed an unqualified opinion on the
effectiveness of the Company&#8217;s internal control over financial reporting.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in Accounting
Principles</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As discussed in Note 1.3 to the consolidated financial
statements, in 2018 the Company has changed its method of accounting for
financial instruments due to the adoption of International Financial Reporting
Standard 9, Financial Instruments, and the Company has elected to change its
method of accounting for hyperinflationary economies under International
Accounting Standard 29, Financial Reporting in Hyperinflationary Economies.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Basis for Opinion</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">These consolidated financial statements are the
responsibility of the Company&#8217;s management. Our responsibility is to express an
opinion on these consolidated financial statements based on our audits. We are
a public accounting firm registered with the PCAOB and are required to be
independent with respect to the Company in accordance with the U.S. federal
securities laws and the applicable rules and regulations of the Securities and
Exchange Commission and the PCAOB.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We conducted our audits in accordance with the standards of
the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the consolidated financial statements are
free of material misstatement, whether due to error or fraud. Our audits
included performing procedures to assess the risks of material misstatement of
the consolidated financial statements, whether due to error or fraud, and
performing procedures that respond to those risks. Such procedures included
examining, on a test basis, evidence regarding the amounts and disclosures in
the consolidated financial statements. Our audits also included evaluating the
accounting principles used and significant estimates made by management, as
well as evaluating the overall presentation of the consolidated financial
statements. We believe that our audits provide a reasonable basis for our
opinion.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:11.9pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">/s/&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">KPMG Auditores, S.L.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We have served as the Company&#8217;s auditor since 2017.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Madrid, Spain </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">March 28, 2019</font></font></p>



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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;"><font face=Calibri,sans-serif style="border:none;mso-ansi-language:ES;mso-fareast-font-family:Calibri;"><font face=Calibri,sans-serif lang=ES style="font-size:11.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;text-indent:12.0pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">REPORT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM</font></b></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">To the&nbsp;</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Board of Directors and Shareholders</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">Banco Bilbao Vizcaya Argentaria, S.A.:</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:4.5pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">We have audited the accompanying
consolidated balance sheet of BANCO BILBAO VIZCAYA ARGENTARIA, S.A. (the
&#8220;Company&#8221;) and subsidiaries composing the BANCO BILBAO VIZCAYA ARGENTARIA Group
(the &#8220;Group&#8221; - Note 3) as of December 31, 2016 and the related consolidated
income statement, statement of recognized income and expenses, statement of
changes in equity and statement of cash flows for the year then ended. These
consolidated financial statements are the responsibility of the Group&#8217;s
Directors. Our responsibility is to express an opinion on these financial
statements based on our audit.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">We conducted our audit in accordance
with the standards of the Public Company Accounting Oversight Board (United
States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audit provide a reasonable basis
for our opinion.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">In our opinion, such consolidated financial
statements present fairly, in all material respects, the consolidated financial
position of BANCO BILBAO VIZCAYA ARGENTARIA, S.A. and subsidiaries composing
the BANCO BILBAO VIZCAYA ARGENTARIA Group as of December 31, 2016 and the
consolidated results of their operations and their cash flows for the year then
ended in conformity with the International Financial Reporting Standards, as
issued by the International Accounting Standards Board (&#8220;IFRS &#8211; IASB&#8221;).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">/s/
DELOITTE, S.L.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Madrid, Spain</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">March 31, 2017</font></font></p>



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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-2</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-fareast-font-family:Calibri;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:13.0pt;">Consolidated balance sheets as of December 31, 2018, 2017 and 2016</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSETS
  (Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CASH, CASH BALANCES
  AT CENTRAL BANKS AND OTHER DEMAND DEPOSITS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">58,196</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42,680</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40,039</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FINANCIAL ASSETS HELD
  FOR TRADING</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">90,117</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">64,695</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">74,950</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30,536</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">35,265</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42,955</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Equity
  instruments</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,254</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,801</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,675</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25,577</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22,573</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27,166</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,163</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14,566</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12,021</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">56</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">154</font></font></p>
  </td>
 </tr>
<tr style="height:15.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">NON-TRADING FINANCIAL
  ASSETS MANDATORILY AT FAIR VALUE THROUGH PROFIT OR LOSS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,135</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Equity
  instruments</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,095</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">237</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,803</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FINANCIAL ASSETS
  DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,313</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,709</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,062</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Equity
  instruments</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,888</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,920</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,313</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">174</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">142</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">648</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FINANCIAL ASSETS AT
  FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">56,337</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">69,476</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">79,221</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Equity
  instruments</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,595</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,224</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,641</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53,709</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">66,251</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">74,580</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">33</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FINANCIAL ASSETS AT
  AMORTIZED COST</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">419,660</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">445,275</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">483,672</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32,530</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24,093</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28,905</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,941</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,300</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,894</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,163</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26,261</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31,373</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">374,027</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">387,621</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">414,500</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HEDGING
  DERIVATIVES </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,892</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,485</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,833</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FAIR VALUE CHANGES OF
  THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(21)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(25)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURES
  AND ASSOCIATES</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,578</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,588</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">765</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Joint ventures</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">173</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">256</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">229</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Associates</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,405</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,332</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">536</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCE AND
  REINSURANCE ASSETS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">366</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">421</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">447</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TANGIBLE ASSETS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,229</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,191</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,941</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Property, plants
  and equipment</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,066</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,996</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,250</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; For own use</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,756</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,581</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,519</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other assets
  leased out under an operating lease</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">310</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">415</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">732</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Investment
  properties</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">163</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">195</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">691</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INTANGIBLE
  ASSETS </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,314</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,464</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,786</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Goodwill</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,180</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,062</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,937</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Other intangible
  assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,134</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,402</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,849</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TAX ASSETS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18,100</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,888</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18,245</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Current</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,784</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,163</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,853</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Deferred</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15,316</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14,725</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,391</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">OTHER ASSETS </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,472</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,359</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,274</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160; Insurance
  contracts linked to pensions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160; Inventories</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">635</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">229</font></font></p>
  </td>
 <td nowrap width=11% style="height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,298</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160; Other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,837</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,130</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,976</font></font></p>
  </td>
 </tr>
<tr style="height:15.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">NON-CURRENT ASSETS
  AND DISPOSAL GROUPS HELD FOR SALE </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,001</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,853</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,603</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TOTAL ASSETS</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">676,689</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">690,059</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">731,856</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
accompanying Notes 1 to 56 are an integral part of the consolidated financial
statements.</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-3</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_286"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:13.0pt;">Consolidated
balance sheets as of December 31, 2018, 2017 and 2016</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">LIABILITIES AND
  EQUITY (Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">FINANCIAL LIABILITIES
  HELD FOR TRADING </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">80,774</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46,182</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">54,675</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Trading
  derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">31,815</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">36,169</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">43,118</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Short positions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11,025</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10,013</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11,556</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Deposits from
  central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10,511</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Deposits from
  credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15,687</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Customer
  deposits</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11,736</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Debt
  certificates</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">FINANCIAL LIABILITIES
  DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,993</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,222</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,338</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Deposits from
  central banks</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Deposits from
  credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Customer
  deposits</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">976</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Debt
  certificates</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,858</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,159</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,222</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,338</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Of which:
  Subordinated liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">FINANCIAL LIABILITIES
  AT AMORTIZED COST </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">509,185</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">543,713</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">589,210</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Deposits from
  central banks</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27,281</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">37,054</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">34,740</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Deposits from
  credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">31,978</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">54,516</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">63,501</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Customer
  Deposits</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">375,970</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">376,379</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">401,465</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Debt
  certificates</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">61,112</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">63,915</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">76,375</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12,844</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11,850</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13,129</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Of which:
  Subordinated liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18,047</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17,316</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17,230</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">HEDGING
  DERIVATIVES</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,680</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,880</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,347</font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">FAIR VALUE CHANGES OF
  THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(7)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">LIABILITIES UNDER
  INSURANCE AND REINSURANCE CONTRACTS </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9,834</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9,223</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9,139</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PROVISIONS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,772</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,477</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9,071</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Provisions for
  pensions and similar obligations</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,787</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,407</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,025</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Other long term
  employee benefits</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">62</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">67</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">69</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Provisions for
  taxes and other legal contingencies</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">686</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">756</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">418</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Provisions for
  contingent risks and commitments</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">636</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">578</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">950</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Other provisions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">601</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">669</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,609</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">TAX LIABILITIES
  </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,276</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,298</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,668</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Current</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,230</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,114</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,276</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Deferred</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,046</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,184</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,392</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">OTHER
  LIABILITIES </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">20</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,301</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,550</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,979</font></b></font></p>
  </td>
 </tr>
<tr style="height:19.15pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">LIABILITIES INCLUDED
  IN DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17,197</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">TOTAL
  LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">623,814</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">636,736</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">676,428</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
accompanying Notes 1 to 56 are an integral part of the consolidated financial
statements.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-4</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_287"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:13.0pt;">Consolidated
balance sheets as of December 31, 2018, 2017 and 2016</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">LIABILITIES AND
  EQUITY (Continued) (Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">SHAREHOLDERS&#8217;
  FUNDS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">54,326</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">53,283</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">50,985</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Capital</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,267</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,267</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,218</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Paid up capital</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,267</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,267</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,218</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Unpaid capital which
  has been called up</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Share premium</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23,992</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Equity instruments
  issued other than capital</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other equity
  instruments</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">50</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">54</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">54</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Retained
  earnings</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23,018</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23,612</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21,844</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Revaluation
  reserves</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">20</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other reserves</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(58)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(35)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(59)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Reserves or
  accumulated losses of investments in subsidiaries, joint ventures and
  associates</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(58)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(35)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(59)</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Less: Treasury
  shares</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">29</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(296)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(96)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(48)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Profit or loss
  attributable to owners of the parent</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,324</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,519</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,475</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Less: Interim
  dividends</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(975)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,043)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,510)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">ACCUMULATED OTHER
  COMPREHENSIVE INCOME (LOSS)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">30</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(7,215)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(6,939)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(3,622)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Items that will not
  be reclassified to profit or loss</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,284)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,183)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,095)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Actuarial gains or
  losses on defined benefit pension plans</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,245)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,183)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,095)</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Non-current assets
  and disposal groups classified as held for sale</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:19.15pt;">
  <td width=56% style="height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;Share of other
  recognized income and expense of investments in subsidiaries, joint ventures
  and associates</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:19.15pt;">
  <td width=56% style="height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  equity instruments measured at fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(155)</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:19.15pt;">
  <td width=56% style="height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Hedge ineffectiveness
  of fair value hedges for equity instruments measured at fair value through
  other comprehensive income</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:19.15pt;">
  <td width=56% style="height:19.15pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  equity instruments measured at fair value through other comprehensive income
  (hedged item)</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:19.15pt;">
  <td width=56% style="height:19.15pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  equity instruments measured at fair value through other comprehensive income
  (hedging instrument)</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:19.15pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  financial liabilities at fair value through profit or loss attributable to
  changes in their credit risk </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">116</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Items that may be
  reclassified to profit or loss</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(5,932)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(5,755)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2,527)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Hedge of net
  investments in foreign operations (effective portion)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(218)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(118)</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Foreign currency
  translation </font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(6,643)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(7,297)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(3,341)</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Hedging derivatives.
  Cash flow hedges (effective portion)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(34)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets
  available for sale</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,641</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">947</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=56% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  debt instruments measured at fair value through other comprehensive income</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">943</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Hedging instruments
  (non-designated items)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Non-current assets
  and disposal groups classified as held for sale</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(26)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:19.15pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Share of other
  recognized income and expense of investments in subsidiaries, joint ventures
  and associates</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(40)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(31)</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">MINORITY INTERESTS
  (NON-CONTROLLING INTEREST)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">31</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,764</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,979</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,064</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td width=56% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Accumulated other
  comprehensive income (loss)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(3,236)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2,550)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,430)</font></font></p>
  </td>
 </tr>
<tr style="height:6.95pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9,000</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9,530</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9,494</font></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">TOTAL EQUITY</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">52,874</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">53,323</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">55,428</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">TOTAL EQUITY AND
  TOTAL LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">676,689</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">690,059</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">731,856</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">MEMORANDUM&#160; ITEM
  (OFF-BALANCE SHEET EXPOSURES)&#160; (Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white style="border:none;"><font color=white face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><font color=white face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><font color=white face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><font color=white face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.1pt;">
  <td nowrap width=56% style="border:none;height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Loan commitments
  given</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">118,959</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">94,268</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">107,254</font></font></p>
  </td>
 </tr>
<tr style="height:8.1pt;">
  <td nowrap width=56% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Financial guarantees
  given</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16,454</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16,545</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18,267</font></font></p>
  </td>
 </tr>
<tr style="height:8.1pt;">
  <td nowrap width=56% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other commitments
  given</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">35,098</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">45,738</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">42,592</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
accompanying Notes 1 to 56 are an integral part of the consolidated financial
statements.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-5</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_288"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:13.0pt;">Consolidated
income statements for the years ended December 31, 2018, 2017 and 2016</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:7.9pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CONSOLIDATED INCOME
  STATEMENTS (Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:23.45pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Interest and other
  income</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37.1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29,831</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29,296</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27,708</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Interest expense</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37.2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(12,239)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(11,537)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10,648)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">NET INTEREST
  INCOME</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,591</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,758</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,059</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Dividend income </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">157</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">334</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">467</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Share of profit or
  loss of entities accounted for using the equity method </font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Fee and commission
  income </font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,132</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,150</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,804</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Fee and commission
  expense</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,253)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,229)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,086)</font></font></p>
  </td>
 </tr>
<tr style="height:15.6pt;">
  <td width=56% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Gains (losses) on
  derecognition of financial assets and liabilities not measured at fair value
  through profit or loss, net</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">216</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">985</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,375</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Gains (losses) on
  financial assets and liabilities held for trading, net</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">707</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">218</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">248</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Gains (losses) on
  non-trading financial assets mandatorily at fair value through profit or
  loss, net</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">96</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Gains (losses) on
  financial assets and liabilities designated at fair value through profit or
  loss, net</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">143</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(56)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">114</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Gains (losses) from
  hedge accounting, net </font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">72</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(209)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(76)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Exchange differences,
  net</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,030</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">472</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other operating
  income </font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">949</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,439</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,272</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other operating
  expense</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,101)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,223)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,128)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Income from insurance
  and reinsurance contracts</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,949</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,342</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,652</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Expense from
  insurance and reinsurance contracts</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,894)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,272)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,545)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GROSS INCOME</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,747</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25,270</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24,653</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Administration costs </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10,494)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(11,112)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(11,366)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Personnel
  expenses</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">44.1</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6,120)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6,571)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6,722)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Other
  administrative expenses</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">44.2</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,374)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,541)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,644)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Depreciation and
  amortization</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">45</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,208)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,387)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,426)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Provisions or
  reversal of provisions</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(373)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(745)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,186)</font></font></p>
  </td>
 </tr>
<tr style="height:15.6pt;">
  <td width=56% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Impairment or
  reversal of impairment on financial assets not measured at fair value through
  profit or loss or net gains by modification</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,981)</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,803)</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,801)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160; &#160;Financial assets
  measured at amortized cost</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,980)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,676)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,598)</font></font></p>
  </td>
 </tr>
<tr style="height:7.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Financial assets
  at fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,127)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(202)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">NET OPERATING
  INCOME</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,691</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,222</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,874</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Impairment or
  reversal of impairment of investments in subsidiaries, joint ventures and
  associates</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Impairment or
  reversal of impairment on non-financial assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">48</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(138)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(364)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(521)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Tangible assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(42)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(143)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Intangible
  assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(83)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(16)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Other assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(51)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(306)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(375)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Gains (losses) on
  derecognition of non - financial assets and subsidiaries, net</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">78</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">70</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Negative goodwill
  recognized in profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Profit (loss) from
  non-current assets and disposal groups classified as held for sale not
  qualifying as discontinued operations&#160;&#160;&#160; </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">815</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(31)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PROFIT OR LOSS BEFORE
  TAX FROM CONTINUING OPERATIONS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55.2</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,446</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,931</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,392</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Tax expense or income
  related to profit or loss from continuing operations</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,295)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,169)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,699)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PROFIT OR LOSS AFTER
  TAX FROM CONTINUING OPERATIONS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,151</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,762</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,693</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Profit or loss after
  tax from discontinued operations, net</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROFIT FOR THE
  YEAR</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,151</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,762</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,693</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Attributable to
  minority interest [non-controlling interest]</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">827</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,243</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,218</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Attributable to
  owners of the parent</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55.2</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,324</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,519</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,475</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">EARNINGS PER
  SHARE&#160; (Euros)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.76</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.48</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.49</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.1pt;">
  <td width=56% style="border:none;height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Basic earnings
  per share from continued operations</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.76</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.48</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.49</font></font></p>
  </td>
 </tr>
<tr style="height:8.1pt;">
  <td width=56% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Diluted earnings
  per share from continued operations </font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.76</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.48</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.49</font></font></p>
  </td>
 </tr>
<tr style="height:8.1pt;">
  <td width=56% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Basic earnings
  per share from discontinued operations </font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.1pt;">
  <td width=56% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160;&#160; Diluted earnings
  per share from discontinued operations</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
accompanying Notes 1 to 56 are an integral part of the consolidated financial
statements.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-6</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_289"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:13.0pt;">Consolidated statements of
recognized income and expenses for the years ended December 31, 2018, 2017 and
2016</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">CONSOLIDATED
  STATEMENTS OF RECOGNIZED INCOME AND EXPENSES (MILLIONS OF EUROS)</font></b></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">PROFIT RECOGNIZED IN
  INCOME STATEMENT</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,151</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,762</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,693</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">OTHER
  RECOGNIZED INCOME (EXPENSES)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2,523)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(4,439)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(3,012)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">ITEMS NOT SUBJECT TO
  RECLASSIFICATION TO INCOME STATEMENT</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(141)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(91)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(240)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; Actuarial
  gains and losses from defined benefit pension plans</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(79)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(96)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(303)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; Non-current
  assets and disposal groups held for sale</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=67% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; Fair value
  changes of equity instruments measured at fair value through other
  comprehensive income </font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(172)</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=67% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; Fair value
  changes of financial liabilities at fair value through profit or loss
  attributable to changes in their credit risk</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">166</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; Income tax
  related to items not subject to reclassification to income statement</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(56)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">63</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">ITEMS SUBJECT TO
  RECLASSIFICATION TO INCOME STATEMENT</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2,382)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(4,348)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2,772)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Hedge of net
  investments in foreign operations (effective portion)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(244)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">80</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">166</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Valuation
  gains or losses taken to equity</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(244)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">112</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">166</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Transferred
  to profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other
  reclassifications</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(32)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Foreign
  currency translation </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,537)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(5,080)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2,157)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Valuation
  gains or losses taken to equity</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,542)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(5,089)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2,110)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Transferred
  to profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(22)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(47)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other
  reclassifications</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">31</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Cash flow hedges
  (effective portion)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(67)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">80</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Valuation
  gains or losses taken to equity</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(32)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(122)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">134</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Transferred
  to profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">58</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">55</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(54)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Transferred
  to initial carrying amount of hedged items</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other
  reclassifications</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;
  Available-for-sale financial assets</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">719</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(694)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Valuation
  gains or losses taken to equity</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">384</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">438</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Transferred
  to profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">347</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,248)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other
  reclassifications</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">116</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Debt securities
  at fair value through other comprehensive income</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(901)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Valuation
  gains or losses taken to equity</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(766)</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Transferred
  to profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(135)</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other
  reclassifications</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Non-current
  assets and disposal groups held for sale</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">20</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(20)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Valuation
  gains or losses taken to equity</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Transferred
  to profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">20</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other
  reclassifications</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Entities
  accounted for using the equity method</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(14)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(89)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Income tax
  relating to items subject to reclassification to income statements</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">244</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">35</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(78)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">TOTAL
  RECOGNIZED INCOME/EXPENSES</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,628</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">323</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,681</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  Attributable to minority interest (non-controlling interests)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(420)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">127</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">305</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  Attributable to the parent company</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,048</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">196</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,376</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The accompanying Notes 1 to 56 are an integral part of the
consolidated financial statements.</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-7</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_290"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:13.0pt;">Consolidated
statements of changes in equity for the years ended December 31, 2018, 2017 and
2016</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.45pt;">
  <td colspan=15 nowrap width=100% style="background:#E9E9E9;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CONSOLIDATED
  STATEMENTS OF CHANGES IN EQUITY (MILLIONS OF EUROS)</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=20% style="border:none;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Capital</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Note 26)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Share Premium</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Equity instruments issued other than capital</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Retained earnings </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Note 28)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Revaluation reserves</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;(Note 28)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other reserves</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Note 28)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(-) Treasury shares</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Profit or loss attributable to owners of the parent</font></b></font></p>
  </td>
 <td rowspan=2 width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(-) Interim dividends (Note 4)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Accumulated other comprehensive income</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&#160;(Note 30)</font></b></font></p>
  </td>
 <td colspan=2 width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-controlling interest</font></b></font></p>
  </td>
 <td rowspan=2 width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:31.15pt;">
  <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:31.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 <td width=5% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:31.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Valuation adjustments (Note 31)</font></b></font></p>
  </td>
 <td width=5% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:31.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Note 31)</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balances as of
  January 1, 2018</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,267</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25,474</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(44)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(96)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,519</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,043)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8,792)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,378)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,358</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53,323</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Effect of changes in
  accounting policies ( Note 1.3)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,713)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,756</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">850</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(822)</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(919)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Adjusted
  initial balance</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,267</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22,761</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(34)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(96)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,519</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,043)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7,036)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,528)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,536</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52,404</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total
  income/expense recognized</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,324</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,276)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,247)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">827</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,628</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other changes
  in equity</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">256</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(23)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(199)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,519)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">68</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,096</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">540</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,364)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,158)</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Issuances of common
  shares</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Issuances of
  preferred shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Issuance of other
  equity instruments</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Settlement or
  maturity of other equity instruments issued </font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Conversion of debt on
  equity</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Common Stock
  reduction</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Dividend distribution</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(992)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(975)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(378)</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,349)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Purchase of treasury
  shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,684)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,684)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Sale or cancellation
  of treasury shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(24)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,484</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,460</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Reclassification of
  other equity instruments to financial liabilities</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Reclassification of
  financial liabilities to other equity instruments</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfers within
  total equity (see Note 2.2.20)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,408</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(19)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,519)</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,043</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,096</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">540</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(540)</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Increase/Reduction of
  equity due to business combinations</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Share based payments</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(19)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(19)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other increases or
  (-) decreases in equity</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(135)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(446)</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(566)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balances as of
  December 31, 2018</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,267</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,018</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(58)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(296)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,324</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(975)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7,215)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,236)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,000</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52,874</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The accompanying Notes 1 to 56 are an integral part of the
consolidated financial statements.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-8</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_291"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:13.0pt;">Consolidated
statements of changes in equity for the years ended December 31, 2018, 2017 and
2016</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.45pt;">
  <td colspan=15 nowrap width=100% style="background:#E9E9E9;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CONSOLIDATED
  STATEMENTS OF CHANGES IN EQUITY (MILLIONS OF EUROS)</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=20% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Capital</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Note 26)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Share Premium</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Equity instruments issued other than capital</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Retained earnings </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Note 28)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Revaluation reserves</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;(Note 28)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other reserves</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Note 28)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(-) Treasury shares</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Profit or loss attributable to owners of the parent</font></b></font></p>
  </td>
 <td rowspan=2 width=5% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(-) Interim dividends (Note 4)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Accumulated other comprehensive income</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&#160;(Note 30)</font></b></font></p>
  </td>
 <td colspan=2 width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-controlling interest</font></b></font></p>
  </td>
 <td rowspan=2 width=5% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:54.0pt;">
  <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2017</font></b></font></p>
  </td>
 <td width=5% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Valuation adjustments (Note 31)</font></b></font></p>
  </td>
 <td width=5% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Note 31)</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balances as of
  January 1, 2017</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,218</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,688</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(67)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(48)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,475</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,510)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,458)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,246)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,310</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55,428</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Effect of changes in
  accounting policies ( Note 1.3)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,843)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,836</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">817</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(817)</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Adjusted
  initial balance</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,218</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21,845</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(60)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(48)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,475</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,510)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,622)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,429)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,493</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55,428</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total
  income/expense recognized</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,519</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,317)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,122)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,243</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">323</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other changes
  in equity</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,768</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(48)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,475)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">467</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,207)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,428)</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Issuances of common
  shares</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(50)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Issuances of
  preferred shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Issuance of other
  equity instruments</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Settlement or
  maturity of other equity instruments issued </font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Conversion of debt on
  equity</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Common Stock
  reduction</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Dividend distribution</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(900)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(290)</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,189)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Purchase of treasury
  shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,674)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,674)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Sale or cancellation
  of treasury shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,626</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,627</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Reclassification of
  other equity instruments to financial liabilities</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Reclassification of
  financial liabilities to other equity instruments</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Transfers within
  total equity</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,932</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,475)</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,510</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Increase/Reduction of
  equity due to business combinations</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Share based payments</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(22)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(22)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other increases or
  (-) decreases in equity</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(125)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(144)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(917)</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,169)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balances as of
  December 31, 2017</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,267</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,612</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(34)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(96)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,519</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,043)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6,939)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,551)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,529</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53,323</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The accompanying Notes 1 to 56 are an integral part of the
consolidated financial statements.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-9</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_292"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:13.0pt;">Consolidated
statements of changes in equity for the years ended December 31, 2018, 2017 and
2016</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.45pt;">
  <td colspan=15 nowrap width=100% style="background:#E9E9E9;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CONSOLIDATED
  STATEMENTS OF CHANGES IN EQUITY (MILLIONS OF EUROS)</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=20% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Capital</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Note 26)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Share Premium </font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Equity instruments issued other than capital</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Retained earnings </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Note 28)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Revaluation reserves</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;(Note 28)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other reserves</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Note 28)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(-) Treasury shares </font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Profit or loss attributable to owners of the parent</font></b></font></p>
  </td>
 <td rowspan=2 width=5% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(-) Interim dividends (Note 4)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Accumulated other comprehensive income</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&#160;(Note 30)</font></b></font></p>
  </td>
 <td colspan=2 width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-controlling interest</font></b></font></p>
  </td>
 <td rowspan=2 width=5% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:54.0pt;">
  <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2016 </font></b></font></p>
  </td>
 <td width=5% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Valuation adjustments (Note 31)</font></b></font></p>
  </td>
 <td width=5% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Note 31)</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balances as of
  January 1, 2016</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,120</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">35</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22,588</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(98)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(309)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,642</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,352)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,349)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,333)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,325</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55,281</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Effect of changes in
  accounting policies ( Note 1.3)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,834)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,826</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">816</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(816)</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.5pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Adjusted
  initial balance</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,120</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">35</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20,754</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(91)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(309)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,642</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,352)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,523)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(517)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,509</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55,282</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.5pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total
  income/expense recognized</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,475</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,099)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(913)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,218</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,681</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other changes
  in equity</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">98</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,090</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">260</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,642)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(158)</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(233)</font></b></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,535)</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Issuances of common
  shares</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">98</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(98)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Issuances of
  preferred shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Issuance of other
  equity instruments</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Settlement or
  maturity of other equity instruments issued </font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Conversion of debt on
  equity</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Common Stock
  reduction</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Dividend distribution</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">93</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(93)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,301)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(234)</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,535)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Purchase of treasury
  shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,004)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,004)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Sale or cancellation
  of treasury shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(30)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,264</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,234</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Reclassification of
  other equity instruments to financial liabilities</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Reclassification of
  financial liabilities to other equity instruments</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Transfers within
  total equity</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,166</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">126</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,642)</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,352</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Increase/Reduction of
  equity due to business combinations</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Share based payments</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(16)</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(12)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other increases or
  (-) decreases in equity</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">35</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(44)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(210)</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=5% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(219)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=20% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balances as of
  December 31, 2016</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,218</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21,845</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(60)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(48)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,475</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,510)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,622)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,429)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,494</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55,428</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The accompanying Notes 1 to 56 are an integral part of the
consolidated financial statements.</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-10</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_293"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:13.0pt;">Consolidated
statements of cash flows for the years ended December 31, 2018, 2017 and 2016</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CONSOLIDATED
  FINANCIAL STATEMENTS OF CASH FLOWS (MILLIONS OF EUROS)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">A) CASH FLOWS FROM
  OPERATING ACTIVITIES&#160; (1 + 2 + 3 + 4 + 5)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,664</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,055</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,623</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1. Profit for
  the year</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,151</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,762</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,693</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2. Adjustments to
  obtain the cash flow from operating activities:</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,695</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,526</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,784</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Depreciation and
  amortization</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,208</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,387</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,426</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other adjustments</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,487</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,139</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,358</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">3. Net
  increase/decrease in operating assets </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(12,679)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,894)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,428)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,379</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,662</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,289</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-trading financial
  assets mandatorily at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(643)</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other financial
  assets designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">349</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(783)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=56% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial assets at
  fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(206)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,032</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14,445</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and receivables</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(12,652)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(14,503)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(21,075)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other operating
  assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(906)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(302)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">915</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4. Net
  increase/decrease in operating liabilities </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,286</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,916)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,273</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial liabilities
  held for trading</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(466)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6,057)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">361</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other financial
  liabilities designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,338</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(53)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial liabilities
  at amortized cost</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,481</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,111</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other operating
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,067)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">972</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">5.
  Collection/Payments for income tax</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,789)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,423)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,699)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">B) CASH FLOWS FROM
  INVESTING ACTIVITIES&#160; (1 + 2)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,516</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,902</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(560)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1. Investment </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,154)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,339)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,978)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Tangible assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(943)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(777)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,312)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Intangible assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(552)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(564)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(645)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Investments in joint
  ventures and associates</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(150)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(101)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(76)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Subsidiaries and
  other business units</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(897)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(95)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-current assets
  held for sale and associated liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(489)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Held-to-maturity
  investments</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,850)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other settlements
  related to investing activities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2. Divestments</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,670</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,241</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,418</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Tangible assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">731</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">518</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">795</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Intangible assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Investments in joint
  ventures and associates</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">558</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">322</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Subsidiaries and
  other business units</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,268</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">936</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">73</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-current assets
  held for sale and associated liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,917</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,002</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">900</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Held-to-maturity
  investments</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A6A6A6;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,711</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,215</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other collections
  related to investing activities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">196</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">93</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">C) CASH FLOWS FROM
  FINANCING ACTIVITIES&#160;&#160; (1 + 2)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,092)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(98)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,113)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1. Payments</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8,995)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,763)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,335)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Dividends</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,107)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,698)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,599)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Subordinated
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,825)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,098)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(502)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Treasury stock
  amortization</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Treasury stock
  acquisition</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,686)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,674)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,004)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other items relating
  to financing activities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(377)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(293)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(230)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2. Collections</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,903</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,665</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,222</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Subordinated
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,451</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,038</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,000</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Treasury shares
  increase</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Treasury shares
  disposal</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,452</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,627</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,222</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other items relating
  to financing activities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">D) EFFECT OF EXCHANGE
  RATE CHANGES</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,498)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,266)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,463)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">E) NET
  INCREASE/DECREASE IN CASH OR CASH EQUIVALENTS (A+B+C+D)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,590</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">594</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,489</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">F) CASH AND CASH
  EQUIVALENTS AT BEGINNING OF THE YEAR</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">45,549</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">44,955</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43,466</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">G) CASH AND CASH
  EQUIVALENTS AT END OF THE YEAR (E+F)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54,138</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">45,549</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">44,955</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">COMPONENTS OF CASH
  AND EQUIVALENT AT END OF THE YEAR (Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 style="border:none;"><font color=#666666 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 style="border:none;"><font color=#666666 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 style="border:none;"><font color=#666666 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 style="border:none;"><font color=#666666 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Cash</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,346</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,416</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,413</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Balance of cash
  equivalent in central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47,792</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39,132</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37,542</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other financial
  assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Less: Bank overdraft
  refundable on demand</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">TOTAL CASH AND CASH
  EQUIVALENTS AT END OF THE YEAR</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54,138</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">45,549</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">44,955</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The accompanying Notes 1 to 56 are an integral part of the
consolidated financial statements.</font></font></p>

<p style="-sec-extract:summary;border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="_Toc376949865"></a><a name="_Toc376972273"></a></p>
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<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><img border=0 height=36 src="maindocument001x293x0.gif" width=185></font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">Notes to the
Consolidated Financial Statements</font></b></font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc376949866"></a><a name="_Toc376972274"></a><a name="XBRL_TS_ea02bc092e924b6697a9e9c60"></a><a name="_Toc105906"></a><a name="_Toc457490008"></a><a name="_Toc481589063"></a><a name="_Toc495478115"></a><a name="_Toc505355934"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">1.&#160;&#160;&#160;
Introduction, basis for the presentation of the Consolidated Financial
Statements, internal control over financial reporting and other information</font></b></font><a name="XBRL_TS_ea02bc092e924b6697a9e9c60_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_318b7bbc1d64408a910e04239"></a><a name="_Toc105907"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">1.1&#160;&#160; Introduction</font></b></font><a name="XBRL_TS_318b7bbc1d64408a910e04239_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_3def99c8a469464a8fdc1d44b"></a><a name="XBRL_CS_355e8bc94c3d43da9c07631b3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Banco Bilbao Vizcaya Argentaria,
S.A.</font></font><a name="XBRL_CS_355e8bc94c3d43da9c07631b3_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">
(hereinafter &#8220;the Bank&#8221; or &#8220;BBVA&quot;) is a <a name="XBRL_CS_5c258092bf664bc0a36dd91f0"></a>private-law entity<a name="XBRL_CS_5c258092bf664bc0a36dd91f0_bclEnd"></a> subject to the laws and
regulations governing banking entities operating in <a name="XBRL_CS_6f92bf590cbe4c5588eefb8e9"></a>Spain<a name="XBRL_CS_6f92bf590cbe4c5588eefb8e9_bclEnd"></a>. It carries out its
activity through branches and agencies across the country and abroad.</font></font><a name="XBRL_TS_3def99c8a469464a8fdc1d44b_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_4133dd71611d4dff9867a9090"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Bylaws
and other public information are available for inspection at the Bank&#8217;s
registered address (</font></font><a name="XBRL_CS_3d543a3ef1cf4f92a5cc77d5d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Plaza San
Nicol&#225;s, 4 </font></font><a name="XBRL_CS_4dc837a6f8554c1c8548997f9"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Bilbao</font></font><a name="XBRL_CS_3d543a3ef1cf4f92a5cc77d5d_bclEnd"></a><a name="XBRL_CS_4dc837a6f8554c1c8548997f9_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">) as noted on its web site
(www.bbva.com).</font></font><a name="XBRL_TS_4133dd71611d4dff9867a9090_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_d09951e82d0746f6bc54e24f3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition
to the activities it carries out directly, the Bank heads a group of
subsidiaries, joint ventures and associates which perform a wide range of
activities and which together with the Bank constitute the Banco Bilbao Vizcaya
Argentaria Group (hereinafter, &#8220;the Group&#8221; or &#8220;the </font></font><a name="XBRL_CS_d9f6ed6d7b044ad0a81d84b86"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA Group</font></font><a name="XBRL_CS_d9f6ed6d7b044ad0a81d84b86_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&#8221;). In addition to its own
separate Financial Statements, the Bank is required to prepare Consolidated
Financial Statements comprising all consolidated subsidiaries of the Group.</font></font><a name="XBRL_TS_d09951e82d0746f6bc54e24f3_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_68c0a9b2db69416ba2bae342f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, the BBVA Group had </font></font><a name="XBRL_CS_2a65e435d4324aae9510a6bf0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">297 consolidated entities</font></font><a name="XBRL_CS_2a65e435d4324aae9510a6bf0_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> and <a name="XBRL_CS_3213c1ed4f604442add8efde9"></a>66 entities accounted for using the
equity method<a name="XBRL_CS_3213c1ed4f604442add8efde9_bclEnd"></a> (see
Notes 3 and 16 and Appendix I to V).</font></font><a name="XBRL_TS_68c0a9b2db69416ba2bae342f_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_6c2abf02327e482092687bad3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
Consolidated Financial Statements of the BBVA Group for the year ended December
31, 2018</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> have been authorized for issue on March 28, 2019</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font><a name="XBRL_TS_6c2abf02327e482092687bad3_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_865c4bfd853942d98cc258c35"></a><a name="_Toc105908"></a><a name="_Toc376949867"></a><a name="_Toc376972275"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">1.2&#160;&#160; Basis for the presentation of the </font></b></font><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">Consolidated Financial Statements</font></b></font><a name="XBRL_TS_865c4bfd853942d98cc258c35_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_391f27bb7d5642168dffc2969"></a><a name="XBRL_TS_3d347925f79843c5a920cff59"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group&#8217;s Consolidated Financial Statements are presented
in compliance with IFRS-IASB (International Financial Reporting Standards as
issued by the International Accounting Standards Board), as well as in
accordance with the International Financial Reporting Standards endorsed by the
European Union (hereinafter, &#8220;EU-IFRS&#8221;) applicable as of December 31, 2018,
considering the Bank of Spain Circular 4/2017, and with any other legislation
governing financial reporting applicable to the Group in Spain.</font></font><a name="XBRL_TS_391f27bb7d5642168dffc2969_bclEnd"></a><a name="XBRL_TS_3d347925f79843c5a920cff59_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_b43d1c6ef8b74b3f810618c59"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group&#8217;s
accompanying Consolidated Financial Statements for the year ended December 31,
2018 were prepared by the Group&#8217;s Directors (through the Board of Directors
meeting held on February 11, 2019) by applying the principles of consolidation,
accounting policies and valuation criteria described in Note 2, so that they
present fairly the Group&#8217;s total consolidated equity and financial position as
of December 31, 2018, together with the consolidated results of its operations
and cash flows generated during the year ended December 31, 2018.</font></font><a name="XBRL_TS_b43d1c6ef8b74b3f810618c59_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_cc9155d888504b6390e27fbf8"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These Consolidated Financial
Statements were prepared on the basis of the accounting records kept by the
Bank and each of the other entities in the Group. Moreover, they include the
adjustments and reclassifications required to harmonize the accounting policies
and valuation criteria used by the Group (see Note 2.2).</font></font><a name="XBRL_TS_cc9155d888504b6390e27fbf8_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_63baa46a3beb44e2a5ea4196f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">All effective accounting
standards and valuation criteria with a significant effect in the Consolidated
Financial Statements were applied in their preparation.</font></font><a name="XBRL_TS_63baa46a3beb44e2a5ea4196f_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
amounts reflected in the accompanying Consolidated Financial Statements are
presented in millions of euros, unless it is more appropriate to use smaller
units. Some items that appear without a balance in these Consolidated Financial
Statements are due to how the units are expressed. Also, in presenting amounts
in millions of euros, the accounting balances have been rounded up or down. It
is therefore possible that the totals appearing in some tables are not the
exact arithmetical sum of their component figures.</font></font><a name="XBRL_TS_f2a97aff3283471592c7b974d_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_199056edb2904276bc530e9f4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The percentage changes in
amounts have been calculated using figures expressed in thousands of euros</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font><a name="XBRL_TS_199056edb2904276bc530e9f4_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_da63cbed320341368fbb6fcaf"></a><a name="_Toc105909"></a><a name="_Toc376949868"></a><a name="_Toc376972276"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">1.3&#160;&#160; Comparative information</font></b></font><a name="XBRL_TS_da63cbed320341368fbb6fcaf_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_7b7a96e6012f4948ac8c1c0f3"></a><font face=Arial,sans-serif style="border:none;"><i><font color=#5B9BD5 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;letter-spacing:.75pt;line-height:115%;">Changes in accounting policies</font></i></font><a name="XBRL_TS_7b7a96e6012f4948ac8c1c0f3_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_0f30522aef81481dbee5148c0"></a><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Application of IFRS 9</font></font><a name="XBRL_TS_0f30522aef81481dbee5148c0_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_c05792fd6cb6440da50a56e84"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
January 1, 2018, IFRS 9 &#8220;Financial instruments&#8221; replaced IAS 39 &#8220;Financial
Instruments: Recognition and Measurement&#8221; and includes changes in the
requirements for the classification and measurement of financial assets and
financial liabilities, the impairment of financial assets and hedge accounting
(see Note 2.2.1). As permitted by the standard, IFRS 9 has not been applied
retrospectively for previous years. The impact of the first application of IFRS
9 is presented in Note 2.4.</font></font><a name="XBRL_TS_c05792fd6cb6440da50a56e84_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_68e410b65f40483dbbeb9e821"></a><a name="XBRL_TS_6b1e9d84234c42e380bef8f8c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As a consequence of the application
of IFRS 9, the comparative information for the financial years 2017 and 2016
included in these Consolidated Financial Statements has been subject to some
non-significant modifications in order to improve the comparability with the
figures of the financial year 2018.</font></font><a name="XBRL_CS_68e410b65f40483dbbeb9e821_bclEnd"></a><a name="XBRL_TS_6b1e9d84234c42e380bef8f8c_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_3bbf398711d042c3b525a6900"></a><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Hyperinflationary economies</font></font><a name="XBRL_TS_3bbf398711d042c3b525a6900_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_e991ee25dce34fff9de64e979"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group&#8217;s
experience applying IAS 29 &quot;Financial information in hyperinflationary
economies&quot; in its subsidiaries in Venezuela allows us to confirm the
complexity of applying the accounting mechanism of inflation together with the
historical movements of the exchange rates in a way that results are
economically understandable, especially when there is not a consistent
evolution between inflation and exchange rate in each period.</font></font><a name="XBRL_TS_e991ee25dce34fff9de64e979_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_ab657295324041839bf2e11f4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In this
context, with the aim of improving the faithful representation of the financial
statements, during 2018 the Group made an accounting policy change which
involves recording in a single account of &quot;Shareholders&#8217; funds &#8211; retained
earnings&quot;, both the revaluation of non-monetary items due to the effect of
hyperinflation and the differences generated when translating the restated
financial statements of the subsidiaries in hyperinflationary economies into
euros. Translation differences, prior to the accounting policy change were
recorded in the item &#8220;Accumulated other comprehensive income &#8211; items that may
be reclassified to profit or loss &#8211; foreign currency translation&#8221; (see Notes
2.2.16 and 2.2.20). The accounting policy change, in accordance with IAS 8,
offers and provides more reliable and relevant information of operations in
hyperinflationary economies.</font></font><a name="XBRL_TS_ab657295324041839bf2e11f4_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_7e2ef7c8cfc74f47b5a48dc46"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In order to
make the information comparable, we have restated the information of the
previous years, in such a way that &#8364;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">1,853, &#8364;1,836 and &#8364;1,826 </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">million have been reclassified from
&quot;Accumulated other comprehensive income &#8211; items that may be reclassified
to profit or loss &#8211; foreign currency translation&quot; to &quot;Shareholders&#8217;
funds &#8211; retained earnings&quot; as of December 31, 2017, December 31, 2016 and
January 1, 2016, respectively, relating to the Group companies registered in
Venezuela (an economy that was also considered hyperinflationary in 2017 and
2016). Additionally, &#8364;828, &#8364;817 and &#8364;816 million have been reclassified from
&#8220;Non-controlling interest &#8211;Accumulated other comprehensive income&#8221; to
&#8220;Non-controlling interest &#8211; other&#8221; as of December 31, 2017, December 31, 2016
and January 1, 2016, respectively.</font></font><a name="XBRL_TS_7e2ef7c8cfc74f47b5a48dc46_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-13</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
reclassification corresponding to January 1, 2018, 2017 and 2016 is recorded as
&quot;Effects of changes in accounting policies&quot; in the Consolidated
Statement of Changes in Equity corresponding to the years ended December 31,
2018, 2017 and 2016. In the consolidated balance sheet as of December 31, 2018,
2017 and 2016, the heading &quot; Shareholders&#8217; funds &#8211; retained earnings&#8221;
includes both the translation differences and the effects of restatement for
inflation</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font><a name="XBRL_TS_096c7962a73d452d97d0af42f_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_36768e6efffb48aca3d787c28"></a><font face=Arial,sans-serif style="border:none;"><i><font color=#5B9BD5 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;letter-spacing:.75pt;line-height:115%;">Operating segments</font></i></font><a name="XBRL_TS_36768e6efffb48aca3d787c28_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><i><font color=#5B9BD5 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;letter-spacing:.75pt;line-height:115%;"> &nbsp;</font></i></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_57988dd7d25a495abff59689d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">During
2018, there were no significant changes to the existing structure of the BBVA
Group&#8217;s operating segments in comparison to 2017 (see Note 6). Certain prior
year balances have been reclassified to conform to current year presentation.</font></font><a name="XBRL_TS_57988dd7d25a495abff59689d_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_d3813f64580a49c4b06b9bdcb"></a><a name="_Toc105910"></a><a name="_Toc376949869"></a><a name="_Toc376972277"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">1.4&#160;&#160; Seasonal nature of income and expenses</font></b></font><a name="XBRL_TS_d3813f64580a49c4b06b9bdcb_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_049c67c484be4edb94230c46f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The nature
of the most significant activities carried out by the BBVA Group&#8217;s entities is
mainly related to typical activities carried out by financial institutions,
which are not significantly affected by seasonal factors within the same year.</font></font><a name="XBRL_TS_049c67c484be4edb94230c46f_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_13a21eee10104ddf9e93bc4a4"></a><a name="_Toc105911"></a><a name="_Toc376949870"></a><a name="_Toc376972278"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">1.5&#160;&#160; Responsibility for the information and for the estimates
made</font></b></font><a name="XBRL_TS_13a21eee10104ddf9e93bc4a4_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_0b29eaf7ee574de281aedc965"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
information contained in the BBVA Group&#8217;s Consolidated Financial Statements is
the responsibility of the Group&#8217;s Directors.</font></font><a name="XBRL_TS_0b29eaf7ee574de281aedc965_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_db5b991824c445fea275c273f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Estimates
were required to be made at times when preparing these Consolidated Financial
Statements in order to calculate the recorded or disclosed amount of some
assets, liabilities, income, expenses and commitments. These estimates relate
mainly to the following:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Impairment
on certain financial assets (see Notes 7, 13, 14 and 16).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
assumptions used to quantify certain provisions (see Note 24) and for the
actuarial calculation of post-employment benefit liabilities and commitments
(see Note 25).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
useful life and impairment losses of tangible and intangible assets (see Notes
17, 18, 20 and 21).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
valuation of goodwill and price allocation of business combinations (see Note
18).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The fair
value of certain unlisted financial assets and liabilities (see Notes 7, 8, 10,
11, 12 and 13).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
recoverability of deferred tax assets (See Note 19).</font></font><a name="XBRL_TS_db5b991824c445fea275c273f_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_667a2986e6c14dec8275bac1b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Although these estimates
were made on the basis of the best information available as of the end of the
reporting period, future events may make it necessary to modify them (either up
or down) over the coming years. This would be done prospectively in accordance
with applicable standards, recognizing the effects of changes in the estimates
in the corresponding consolidated income statement.</font></font><a name="XBRL_TS_667a2986e6c14dec8275bac1b_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_16f6b87a33b643c4a9d594fd6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">During 2018, 2017 and 2016
there were no significant changes to the assumptions and estimations, except as
indicated in these Consolidated Financial Statements.</font></font><a name="XBRL_TS_16f6b87a33b643c4a9d594fd6_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_77b9310897c141eabc0e6520b"></a><a name="_Toc105912"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">1.6&#160;&#160;
BBVA Group&#8217;s Internal Control over Financial Reporting</font></b></font><a name="XBRL_TS_77b9310897c141eabc0e6520b_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_10206401aab145a4884cfd348"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA
Group&#8217;s Consolidated Financial Statements are prepared under an Internal
Control over Financial Reporting Model (hereinafter &#8220;ICFR&quot;). It provides
reasonable assurance with respect to the reliability and the integrity of the
consolidated financial statements. It is also aimed to ensure that the
transactions are processed in accordance with the applicable laws and
regulations.</font></font><a name="XBRL_TS_10206401aab145a4884cfd348_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-14</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The ICFR is in accordance with the control framework established
in 2013 by the &#8220;Committee of Sponsoring Organizations of the Treadway
Commission&#8221; (hereinafter, &quot;COSO&quot;). The COSO 2013 framework sets five
components that constitute the basis of the effectiveness and efficiency of the
internal control systems:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The establishment
of an appropriate control framework.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
assessment of the risks that could arise during the preparation of the
financial information.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
design of the necessary controls to mitigate the identified risks.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
establishment of an appropriate system of information to detect and report
system weaknesses.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
monitoring activities over the controls to ensure they perform correctly and
are effective over time.</font></font><a name="XBRL_TS_a76814342dfa45279d1b0ebe2_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_1b3bdab9d0c644588cf2920e5"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The ICFR is
a dynamic model that evolves continuously over time to reflect the reality of
the BBVA Group&#8217;s businesses and processes, as well as the risks and controls
designed to mitigate them. It is subject to a continuous evaluation by the
internal control units located in the different entities of BBVA Group.</font></font><a name="XBRL_TS_1b3bdab9d0c644588cf2920e5_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_7d6add5a5e3d425b9b166b5d8"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These
internal control units are integrated within the BBVA internal control model
which is based in two pillars:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A
control system organized into three lines of defense:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:32.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- The first line is located
within the business and support units, which are responsible for identifying
risks associated with their processes and to execute the controls established
to mitigate them.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:32.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- The second line comprises
the specialized control units (Compliance, Internal Financial Control, Internal
Risk Control, Engineering Risk, Fraud &amp; Security, and Operations Control
among others). This second line defines the models and controls under their
areas of responsibility and monitors the design, correct implementation and
effectiveness of the controls</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:32.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- The third line is the
Internal Audit unit, which conducts an independent review of the model,
verifying the compliance and effectiveness of the model.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A set of
committees called Corporate Assurance that helps to escalate the internal
control issues to the management at a Group level and also in each of the
countries where the Group operates.</font></font><a name="XBRL_TS_7d6add5a5e3d425b9b166b5d8_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The internal control units comply with a common
and standard methodology established at Group level, as set out in the
following diagram:</font></font></p>

<p align=center style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face=Arial,sans-serif style="border:none;"><img border=0 height=196 id="Picture 2" src="maindocument001x296x0.jpg" width=650></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_3634a062ead7494f94984259e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The ICFR
Model is subject to annual evaluations by the Group&#8217;s Internal Audit Unit. It
is also supervised by the Audit and Compliance Committee of the Bank&#8217;s Board of
Directors.</font></font><a name="XBRL_TS_3634a062ead7494f94984259e_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_5e62a9f0ff2b4e1dbbff6330b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA
Group is also required to comply with Sarbanes-Oxley Act (hereafter &#8220;SOX&#8221;) for
Consolidated Financial Statements as a listed company with the U.S. Securities
and Exchange Commission (&#8220;SEC&#8221;). The main senior executives of the Group are
involved in the design, compliance and implementation of the internal control
model to make it effective and to ensure the quality and accuracy of the
financial information.
</font></font><a name="XBRL_TS_5e62a9f0ff2b4e1dbbff6330b_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_d1ebe8bdd3c3478a8181873fc"></a><a name="_Toc105913"></a><a name="_Toc505355935"></a><a name="_Toc495478116"></a><a name="_Toc481589064"></a><a name="_Toc457490009"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-15</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">2.&#160; Principles of consolidation, accounting
policies and measurement bases applied and recent IFRS pronouncements</font></b></font><a name="XBRL_TS_d1ebe8bdd3c3478a8181873fc_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_4b60572a8d6a455a9fa948357"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
Glossary includes the definition of some of the financial and economic terms
used in Note 2 and subsequent Notes.</font></font><a name="Nota_2_1"></a><a name="Nota_2_1_bclEnd"></a><a name="XBRL_TS_4b60572a8d6a455a9fa948357_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_12d575bd54c44ec2a9efef17e"></a><a name="_Toc105914"></a><a name="_Toc376949874"></a><a name="_Toc376972282"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">2.1&#160;&#160; Principles of
consolidation</font></b></font><a name="XBRL_TS_12d575bd54c44ec2a9efef17e_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_dc7068814f8a4e56bc952abca"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In terms of
its consolidation, in accordance with the criteria established by IFRS, the
BBVA Group is made up of four types of entities: subsidiaries, joint ventures,
associates and structured entities, defined as follows:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Subsidiaries</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Subsidiaries are entities
controlled by the Group. The financial statements of the subsidiaries are fully
consolidated with those of the Bank. The share of non-controlling interests
from subsidiaries in the Group&#8217;s consolidated total equity is presented under
the heading &#8220;Minority interests (Non-controlling interests)&#8221; in the
consolidated balance sheet. Their share in the profit or loss for the period or
year is presented under the heading &#8220;Attributable to minority interest
(non-controlling interests)&#8221; in the accompanying consolidated income statement
(see Note 31).</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Note 3 includes information
related to the main subsidiaries in the Group as of December 31, 2018. Appendix
I includes other significant information on these entities.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Joint ventures</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Joint ventures are those entities
over which there is a joint arrangement to joint control with third parties
other than the Group (for definitions of joint arrangement, joint control and
joint venture, refer to Glossary). </font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The investments in joint
ventures are accounted for using the equity method (see Note 16). Appendix II
shows the main figures for joint ventures accounted for using the equity
method. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Associates</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Associates are entities in
which the Group is able to exercise significant influence (for definition of
significant influence, see Glossary). Significant influence is deemed to exist
when the Group owns 20% or more of the voting rights of an investee directly or
indirectly, unless it can be clearly demonstrated that this is not the case.</font></font><a name="XBRL_TS_dc7068814f8a4e56bc952abca_bclEnd"></a></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_4e82ebe2c94b4bcaa388a73cd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">However, certain entities in which the Group owns 20% or more of
the voting rights are not included as Group associates, since the Group does
not have the ability to exercise significant influence over these entities.
Investments in these entities, which do not represent material amounts for the
Group, are classified as &#8220;Financial assets at fair value through other
comprehensive income&#8221;. </font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In contrast, some
investments in entities in which the Group holds less than 20% of the voting
rights are accounted for as Group associates, as the Group is considered to
have the ability to exercise significant influence over these entities. As of
December 31, 2018, 2017 and 2016 these entities are not significant in the
Group.</font></font><a name="XBRL_TS_4e82ebe2c94b4bcaa388a73cd_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_a0a02749155848c3b006da178"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Appendix II shows the most significant information related to the
associates (see Note 16), which are accounted for using the equity method.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Structured
Entities</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A structured entity is an
entity that has been designed so that voting or similar rights are not the
dominant factor in deciding who controls the entity, such as when the voting
rights relate to administrative matters only and the relevant activities are
directed by means of contractual arrangements (see Glossary).</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-16</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In
those cases where the Group sets up entities or has a holding in such entities,
in order to allow its customers access to certain investments, to transfer
risks or for other purposes, in accordance with internal criteria and
procedures and with applicable regulations, the Group determines whether
control over the entity in question actually exists and therefore whether it
should be subject to consolidation.</font></font><a name="XBRL_TS_a0a02749155848c3b006da178_bclEnd"></a></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_aea7cfb19cf64cfa8d0e7fd46"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Such methods and procedures determine whether there is control by
the Group, considering how the decisions are made about the relevant
activities, assesses whether the Group has all power over the relevant elements,
exposure, or rights, to variable returns from involvement with the investee and
the ability to use power over the investee to affect the amount of the
investor&#8217;s returns.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=ES style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Structured</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;"> entities subject to
consolidation</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">To determine if a structured
entity is controlled by the Group, and therefore should be consolidated into
the Group, the existing contractual rights (different from the voting rights)
are analyzed. For this reason, an analysis of the structure and purpose of each
investee is performed and, among others, the following factors will be
considered:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Evidence of the current
ability to manage the relevant activities of the investee according to the
specific business needs (including any decisions that may arise only in
particular circumstances).</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Potential existence of a
special relationship with the investee.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Implicit or explicit Group
commitments to support the investee.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- The ability to use the
Group&#180;s power over the investee to affect the amount of the Group&#8217;s returns.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">There are cases where the
Group has a high exposure to variable returns and retains decision-making power
over the investee, either directly or through an agent.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The main structured entities
of the Group are the asset securitization funds, to which the BBVA Group
transfers loans and receivables portfolios, and other vehicles, which allow the
Group&#8217;s customers to gain access to certain investments or to allow for the
transfer of risks or for other purposes (see Appendices I and V). The BBVA
Group maintains the decision-making power over the relevant activities of these
vehicles and financial support through securitized market standard contracts.
The most common ones are: investment positions in equity note tranches, funding
through subordinated debt, credit enhancements through derivative instruments
or liquidity lines, management rights of defaulted securitized assets,
&#8220;clean-up&#8221; call derivatives, and asset repurchase clauses by the grantor.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">For these reasons, the loans
and receivable portfolios related to the vast majority of the securitizations
carried out by the Bank or Group subsidiaries are not derecognized in the books
of said entity and the issuances of the related debt securities are recorded as
liabilities within the Group&#8217;s consolidated balance sheet.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=ES style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">Non-consolidated
structured entities</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group owns other
vehicles also for the purpose of allowing customers access to certain
investments, to transfer risks, and for other purposes, but without the Group
having control of the vehicles, which are not consolidated in accordance with
&#8220;IFRS 10 - Consolidated Financial Statements&#8221;. The balance of assets and
liabilities of these vehicles is not material in relation to the Group&#8217;s
Consolidated Financial Statements. </font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018,
2017 and 2016 there was no material financial support from the Bank or its
subsidiaries to unconsolidated structured entities.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-17</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
Group does not consolidate any of the mutual funds it manages since the
necessary control conditions are not met (see definition of control in the
Glossary). Particularly, the BBVA Group does not act as arranger but as agent
since it operates the mutual funds on behalf and for the benefit of investors
or parties (arranger or arrangers) and, for this reason it does not control the
mutual funds when exercising its authority for decision making.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The mutual funds managed by
the Group are not considered structured entities (generally, retail funds
without corporate identity over which investors have participations which gives
them ownership of said managed equity). These funds are not dependent on a
capital structure that could prevent them from carry out activities without
additional financial support, being in any case insufficient as far as the
activities themselves are concerned. Additionally, the risk of the investment
is absorbed by the fund participants, and the Group is only exposed when it
becomes a participant, and as such, there is no other risk for the Group.</font></font><a name="XBRL_TS_aea7cfb19cf64cfa8d0e7fd46_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_839eb41e26db478d95aa53c13"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In all
cases, the operating results of equity method investees acquired by the BBVA
Group in a particular period only include the period from the date of
acquisition to the financial statements date. Similarly, the results of
entities disposed of during any only include year the period from the start of
the year to the date of disposal.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The consolidated financial statements of
subsidiaries, associates and joint ventures used in the preparation of the
Consolidated Financial Statements of the Group have the same presentation date
as the Consolidated Financial Statements. If financial statements at those same
dates are not available, the most recent will be used, as long as these are not
older than three months, and adjusted to take into account the most significant
transactions. As of December 31, 2018, except for the case of the consolidated
financial statements of two subsidiaries and six associates and joint-ventures
deemed non-significant for which </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">financial statements</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">as of November 30, 2018 were used, </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">the
December 31, 2018 financial statements for of all Group entities were utilized.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA banking subsidiaries, associates and joint
ventures worldwide, are subject to supervision and regulation from a variety of
regulatory bodies in relation to, among other aspects, the satisfaction of
minimum capital requirements. The obligation to satisfy such capital requirements
may affect the ability of such entities to transfer funds in the form of cash
dividends, loans or advances. In addition, under the laws of the various
jurisdictions where such entities are incorporated, dividends may only be paid
out through funds legally available for such purpose. Even when the minimum
capital requirements are met and funds are legally available, the relevant
regulators or other public administrations could discourage or delay the
transfer of funds to the Group in the form of cash, dividends, loans or
advances for prudential reasons.</font></font><a name="XBRL_TS_839eb41e26db478d95aa53c13_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_0e09f9239bf342d488bbcca23"></a><a name="_Toc105915"></a><a name="_Toc376972283"></a><a name="_Toc376949875"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">2.2&#160;&#160; Accounting policies
and valuation criteria applied</font></b></font><a name="XBRL_TS_0e09f9239bf342d488bbcca23_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_0d219506e9c1480287821f4d6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
accounting standards and policies and the valuation criteria applied in
preparing these Consolidated Financial Statements may differ from those used by
some of the entities within the BBVA Group. For this reason, necessary
adjustments and reclassifications have been made in the consolidation process
to standardize these principles and criteria and comply with the IFRS-IASB.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The accounting standards and policies and
valuation criteria used in preparing the accompanying Consolidated Financial
Statements are as follows:</font></font><a name="XBRL_TS_0d219506e9c1480287821f4d6_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_db0fd5207c714b54863c2b384"></a><a name="_Toc105916"></a><a name="_Toc376972284"></a><a name="_Toc376949876"></a><a name="Nota_2_2_1"></a><a name="Nota_2_2_1_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.1&#160;&#160; <a name="XBRL_TS_e091ba31ed8144b185f87502c"></a>Financial instruments</font></b></font><a name="XBRL_TS_db0fd5207c714b54863c2b384_bclEnd"></a><a name="XBRL_TS_e091ba31ed8144b185f87502c_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_3e2a9810a61e46c9b734e6f42"></a><a name="XBRL_TS_71681a28c55c4775a4005d3a3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As mentioned in Note 1.3, IFRS 9 became effective as of January 1,
2018 and replaced IAS 39 regarding the classification and measurement of
financial assets and liabilities, the impairment of financial assets and hedge
accounting.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The disclosures related to the financial years 2017 and 2016 are
based on the accounting policies and valuation criteria applicable under IAS
39.</font></font><a name="XBRL_TS_71681a28c55c4775a4005d3a3_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_CS_8ac8e52659cb46b19c35cecc2"></a><a name="XBRL_TS_408d13785b7e4524b160b7efc"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-18</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Classification and measurement of financial assets under IFRS 9</font></b></font><a name="XBRL_TS_408d13785b7e4524b160b7efc_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_5f573a4ba9b24827abbdcd2f4"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Classification of financial assets</font></font><a name="XBRL_TS_5f573a4ba9b24827abbdcd2f4_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_2552076e492d47068ca786276"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRS 9 contains three main categories for financial assets
classification: measured at amortized cost, measured at fair value with changes
through other comprehensive income, and measured at fair value through profit
or loss.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The classification of financial assets measured
at amortized cost or fair value must be carried out on the basis of two tests:
the entity's business model and the assessment of the contractual cash flow,
commonly known as the &quot;solely payments of principle and interest&quot;
criterion (hereinafter, the SPPI).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A debt
instrument will be classified in the amortized cost portfolio if </font></font><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">the two following conditions are fulfilled:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The financial
asset is managed within a business model whose purpose is to maintain the
financial assets to receive contractual cash flows; and</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In
accordance with the contractual characteristics of the instrument its cash
flows only represent the return of the principal and interest, basically
understood as consideration for the time value of money and the debtor's credit
risk.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A debt instrument will be classified in the
portfolio of financial assets at fair value with changes through other
comprehensive income if the two following conditions are fulfilled:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
financial asset is managed with a business model whose purpose combines
collection of the contractual cash flows and sale of the assets, and</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
contractual characteristics of the instrument generate, at specific dates, cash
flows which only represent the return of the principal and interest.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A debt instrument will be classified at fair
value with changes in profit and loss provided that the entity's business model
for their management or the contractual characteristics of its cash flows do
not require classification into one of the portfolios described above.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In general, equity instruments will be measured
at fair value through profit or loss. However the Group may make an irrevocable
election at initial recognition to present subsequent changes in the fair value
through other comprehensive income.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial assets will only be reclassified when
BBVA Group decides to change the business model. In this case, all of the
financial assets assigned to this business model will be reclassified. The
change of the objective of the business model should occur before the date of
the reclassification.</font></font><a name="XBRL_TS_2552076e492d47068ca786276_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_17a643a0c0b84c45854dab0ae"></a><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Valuation of financial
assets</font></font><a name="XBRL_TS_17a643a0c0b84c45854dab0ae_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_0c6343d3c94a46d7bee89cd86"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">All financial instruments are initially recognized at fair value
plus, in the case of a financial asset not at fair value through profit or
loss, transaction costs that are directly attributable to the acquisition or
issue of the instrument.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Excluding all trading derivatives not considered
as accounting or economic hedges, all the changes in the fair value of the
financial instruments arising from the accrual of interest and similar items
are recognized under the headings &#8220;Interest and other income&#8221; or &#8220;Interest
expense&#8221;, as appropriate, in the accompanying consolidated income statement in
the period in which the change occurred (see Note 37). The changes in fair
value after the initial recognition, for reasons other than those mentioned in
the preceding paragraph, are treated as described below, according to the
categories of financial assets.</font></font><a name="XBRL_TS_0c6343d3c94a46d7bee89cd86_bclEnd"></a><font color=windowtext face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-19</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8220;Financial
assets held for trading&#8221;, &#8220;Non-trading financial assets mandatorily at fair
value through profit and loss&#8221; and &#8220;Financial assets designated at fair value
through profit or loss&#8221;</font></font><a name="XBRL_TS_78c5ab58792b45b295ef4fcf8_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_b80b6a3255d24987bda6d396f"></a><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial assets are
recorded under the heading &#8220;Financial assets held for trading&#8221; if the objective
of the business model is to generate gains by buying and selling these
financial instruments or generate short-term results. The financial assets
recorded in the heading &#8220;Non-trading financial assets mandatorily at fair value
through profit and loss&#8221; are assigned to a business model which objective is to
obtain the contractual cash flows and / or to sell those instruments but its
contractual cash flows do not comply with the requirements of the SPPI test. In
&#8220;Financial assets designated at fair value through profit or loss&#8221; the Group
classifies financial assets only if it eliminates or significantly reduces a
measurement or recognition inconsistency (an &#8216;accounting mismatch&#8217;) that would
otherwise arise from measuring financial assets or financial liabilities, or
recognizing gains or losses on them, on different bases. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
assets recognized under these headings of the consolidated balance sheets are
measured upon acquisition at fair value and changes in the fair value (gains or
losses) are recognized as their net value under the heading &#8220;Gains (losses) on
financial assets and liabilities, net&#8221; in the accompanying consolidated income
statements (see Note 41). Interests from derivatives designated as economic
hedges on interest rate are recognized in &#8220;Interest and other income&#8221; or
&#8220;Interest expense&#8221; (see Note 37), depending on the result of the hedging
instrument. However, changes in fair value resulting from variations in foreign
exchange rates are recognized under the heading &#8220;Gains (losses) on financial
assets and liabilities, net&#8221; in the accompanying consolidated income statements
(Note 41).</font></font><a name="XBRL_TS_b80b6a3255d24987bda6d396f_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_4372e8bfb8744c50861cbec01"></a><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;Financial assets at fair
value through other comprehensive income&#8221;</font></font><a name="XBRL_TS_4372e8bfb8744c50861cbec01_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><a name="XBRL_TS_8db5622424184e22b6c6c590b"></a><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Debt
instruments</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assets
recognized under this heading in the consolidated balance sheets are measured
at their fair value. Subsequent changes in fair value (gains or losses) are
recognized temporarily net of tax effect, under the heading &#8220;Accumulated other
comprehensive income- Items that may be reclassified to profit or loss - Fair
value changes of debt instruments measured at fair value through other
comprehensive income&#8221; in the consolidated balance sheets (see Note 30).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
amounts recognized under the headings &#8220;Accumulated other comprehensive income-
Items that may be reclassified to profit or loss - Fair value changes of
financial assets measured at fair value through other comprehensive income&#8221; and
&#8220;Accumulated other comprehensive income- Items that may be reclassified to
profit or loss - Exchange differences&#8221; continue to form part of the Group's
consolidated equity until the corresponding asset is derecognized from the
consolidated balance sheet or until an impairment loss is recognized on the
corresponding financial instrument. If these assets are sold, these amounts are
derecognized and included under the headings &#8220;Gains (losses) on financial
assets and liabilities, net&#8221; or &#8220;Exchange differences, net&quot;, as
appropriate, in the consolidated income statement for the year in which they
are derecognized (see Note 41).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The net
impairment losses in &#8220;Financial assets at fair value through other
comprehensive income&#8221; over the year are recognized under the heading
&#8220;Impairment losses on financial assets, net &#8211; Financial assets at fair value
through other comprehensive income&#8221; (see Note 47) in the consolidated income
statements for that period.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Changes
in foreign exchange rates which affect monetary items are recognized under the
heading &#8220;Exchange differences, net&quot; in the accompanying consolidated
income statements (see Note 41).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Equity
instruments</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA
Group, at the time of the initial recognition, may elect to present changes in
the fair value in other comprehensive income of an investment in an equity
instrument that is not held for trading. The election is irrevocable and can be
made on an instrument-by-instrument basis. Subsequent changes in fair value
(gains or losses) are recognized, under the heading &#8220;Accumulated other
comprehensive income (loss) &#8211; Items that will not be reclassified to profit or
loss &#8211; Fair value changes of equity instruments measured at fair value through
other comprehensive income&#8221;.</font></font><a name="XBRL_TS_8db5622424184e22b6c6c590b_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_63d7ef9497624264bf0ae8a69"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-20</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_303"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8220;Financial
assets at amortized cost&#8221;</font></font><a name="XBRL_TS_63d7ef9497624264bf0ae8a69_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_0778367024b34f989c0713ffa"></a><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A financial asset is
classified as subsequently measured at amortized cost if it is held within a
business model whose objective is to hold financial assets in order to collect
and it meets the SPPI Criterion.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
assets under this category are subsequently measured at amortized cost, using
the effective interest rate method.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Net
impairment losses of assets recorded under these headings arising in each
period are recognized under the heading &#8220;Impairment or reversal of impairment
on financial assets not measured at fair value through profit or loss &#8211;
financial assets measured at cost&#8221; (see Note 47) in the consolidated income
statement for that period.</font></font><a name="XBRL_TS_0778367024b34f989c0713ffa_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_4876c1aee5ed40ab9b60238d2"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Classification and measurement of financial liabilities under IFRS
9</font></b></font><a name="XBRL_TS_4876c1aee5ed40ab9b60238d2_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_54d264823ff7427abd814826f"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Classification of financial liabilities</font></font><a name="XBRL_TS_54d264823ff7427abd814826f_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_ce6eb024e88c4a95b4fd7bfca"></a><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Under IFRS 9, financial
liabilities are classified in the following categories:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial
liabilities at amortized cost;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial
liabilities that are held for trading including derivatives are financial
instruments which are recorded in this category when the Group&#8217;s objective is
to generate gains by buying and selling these financial instruments;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial
liabilities that are designated at fair value through profit or loss on initial
recognition under the Fair Value Option. The Group has the option to designate
irrevocably on initial recognition a financial liability as at fair value
through profit or loss provided that doing so results in the elimination or
significant reduction of measurement or recognition inconsistency, or if a
group of financial liabilities, or a group of financial assets and financial
liabilities, has to be managed, and its performance evaluated, on a fair value
basis in accordance with a documented risk management or investment strategy.</font></font><a name="XBRL_TS_ce6eb024e88c4a95b4fd7bfca_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_e86e6c4e147247ad8c4ff8e45"></a><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Valuation of financial
liabilities</font></font><a name="XBRL_TS_e86e6c4e147247ad8c4ff8e45_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_2956eac26df34677ada91d546"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">All financial instruments are initially recognized at fair value
plus, in the case of a financial liability not at fair value through profit or loss,
transaction costs that are directly attributable to the acquisition or issue of
the financial liability. Unless there is evidence to the contrary, the best
evidence of the fair value of a financial instrument at initial recognition
shall be the transaction price.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Excluding all trading derivatives not considered
as accounting or economic hedges, all the changes in the fair value of the
financial instruments arising from the accrual of interest and similar items
are recognized under the headings &#8220;Interest and other income&#8221; or &#8220;Interest
expense&#8221;, as appropriate, in the accompanying consolidated income statement in
the period in which the change occurred (see Note 37).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The changes in fair value after the initial
recognition, for reasons other than those mentioned in the preceding paragraph,
are treated as described below, according to the categories of financial
liabilities.</font></font><a name="XBRL_TS_2956eac26df34677ada91d546_bclEnd"></a><font color=windowtext face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_4cef4187620c43799365cb513"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-21</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_304"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8220;Financial
liabilities held for trading&#8221; and &#8220;Financial liabilities designated at fair
value through profit or loss&#8220;</font></font><a name="XBRL_TS_4cef4187620c43799365cb513_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_96012b28d9f84354af0c7ffd2"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The subsequent changes in the fair value (gains or losses) of the
liabilities recognized under these headings of the consolidated balance sheets
are recognized as their net value under the heading &#8220;Gains (losses) on
financial assets and liabilities, net&#8221; in the accompanying consolidated income
statements (see Note 41), except for the financial liabilities designated at
fair value through profit and loss under the fair value option for which the
amount of change in the fair value that is attributable to changes in the own credit
risk which is presented in under the heading &#8220;Accumulated other comprehensive
income (loss) &#8211; Items that will not be reclassified to profit or loss &#8211; Fair
value changes of financial liabilities at fair value through profit or loss
attributable to changes in their </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">credit risk&#8221;</font></font><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. Interests from derivatives designated as
economic hedges on interest rate are recognized in &#8220;Interest and other income&#8221;
or &#8220;Interest expense&#8221; (Note 37), depending on the result of the hedging
instrument. However, changes in fair value resulting from variations in foreign
exchange rates are recognized under the heading &#8220;Gains (losses) on financial
assets and liabilities, net&#8221; in the accompanying consolidated income statements
(Note 41).</font></font><a name="XBRL_TS_96012b28d9f84354af0c7ffd2_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_700e47a757ba4f28be7001c36"></a><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8220;Financial liabilities at
amortized cost&#8221;</font></font><a name="XBRL_TS_700e47a757ba4f28be7001c36_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_d6ba6892b9b94b2bbc069be75"></a><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The liabilities under this
category are subsequently measured at amortized cost, using the effective
interest rate method.</font></font><a name="XBRL_CS_8ac8e52659cb46b19c35cecc2_bclEnd"></a><a name="XBRL_TS_d6ba6892b9b94b2bbc069be75_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_82bef2bae84a4e2a9d9b10863"></a><a name="XBRL_TS_62e20080791e4cfc95755c9f9"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Measurement of financial assets and liabilities under IAS 39
applicable in the financial years 2017 and 2016</font></b></font><a name="XBRL_TS_62e20080791e4cfc95755c9f9_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_a9be7b7c4dd24c6db32bf40f0"></a><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Measurement of financial instruments
and recognition of changes in subsequent fair value</font></font><a name="XBRL_TS_a9be7b7c4dd24c6db32bf40f0_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_2a35e87a14b347fd9de0615ad"></a><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">All financial instruments
are initially accounted for at fair value plus, in the case of a financial
asset or financial liability not at fair value through profit or loss,
transaction costs that are directly attributable to the acquisition or issue of
the financial asset or financial liability. Unless there is evidence to the
contrary, the best evidence of the fair value of a financial instrument at
initial recognition shall be the transaction price.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Excluding
all trading derivatives not considered as accounting or economic hedges, all
the changes in the fair value of the financial instruments arising from the
accrual of interest and similar items are recognized under the headings
&#8220;Interest and other income&#8221; or &#8220;Interest expense&#8221;, as appropriate, in the
accompanying consolidated income statement the year in which the change
occurred (see Note 37). The dividends received from other entities, other than
associated entities and joint venture entities, are recognized under the
heading &#8220;Dividend income&#8221; in the accompanying consolidated income statement in
the year in which the right to receive them arises (see Note 38).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The changes in fair value after the initial
recognition, for reasons other than those mentioned in the preceding</font><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">paragraph, are treated as described below,
according to the categories of financial assets and liabilities.</font></font><a name="XBRL_TS_2a35e87a14b347fd9de0615ad_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_d553388663a3481bb0a3d7b0f"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8220;Financial assets and liabilities held for trading&#8221; and &#8220;Financial
assets and liabilities designated at fair value through profit or loss&#8221;</font></font><a name="XBRL_TS_d553388663a3481bb0a3d7b0f_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_d8caeb4fb6b44ea0a11cc3f83"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The assets
and liabilities recognized under these headings of the consolidated balance
sheets are measured upon acquisition at fair value and changes in the fair
value (gains or losses) are recognized as their net value under the heading
&#8220;Gains (losses) on financial assets and liabilities, net&#8221; in the accompanying
consolidated income statements (see Note 41). Interests from derivatives
designated as economic or accounting hedges on interest rate are recognized
under the heading &#8220;Interest and other income&#8221; or &#8220;Interest expense&#8221; (Note 37),
depending on the result of the hedging instrument</font><font color=red face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Changes
in fair value resulting from variations in foreign exchange rates are
recognized under the heading &#8220;Gains (losses) on financial assets and liabilities,
net&#8221; in the accompanying consolidated income statements (Note 41).</font></font><a name="XBRL_TS_d8caeb4fb6b44ea0a11cc3f83_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_393e84531fc84cca8a2d9b44a"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-22</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_305"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8220;Financial assets at fair
value through other comprehensive income&#8221;</font></font><a name="XBRL_TS_393e84531fc84cca8a2d9b44a_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_6eb0c8230e5e4a00ae527fb43"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assets
recognized under this heading in the consolidated balance sheets are measured
at their fair value. Subsequent changes in fair value (gains or losses) are
recognized temporarily net of tax effect, under the heading &#8220;Accumulated other
comprehensive income - Items that may be reclassified to profit or loss -
Financial assets at fair value through other comprehensive income&#8221; in the
consolidated balance sheets (see Note 30).</font></font><a name="XBRL_TS_6eb0c8230e5e4a00ae527fb43_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_3943fdf9a5754b6abeefba981"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amounts
recognized under the headings &#8220;Accumulated other comprehensive income - Items
that may be reclassified to profit or loss - Financial assets at fair value
through other comprehensive income&#8221; and &#8220;Accumulated other comprehensive income
- Items that may be reclassified to profit or loss - Exchange differences&#8221;
continue to form part of the Group's consolidated equity until the
corresponding asset is derecognized from the consolidated balance sheet or
until an impairment loss is recognized on the corresponding financial
instrument. If these assets are sold, these amounts are derecognized and
included under the headings &#8220;Gains (losses) on financial assets and
liabilities, net&#8221; or &#8220;Exchange differences, net&quot;, as appropriate, in the
consolidated income statement for the year in which they are derecognized (see
Note 41).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The net impairment losses in &#8220;Financial assets
at fair value through other comprehensive income&#8221; over the year are recognized under
the heading &#8220;Impairment losses on financial assets, net &#8211; Other financial
instruments not at fair value through profit or loss&#8221; (see Note 47) in the
consolidated income statements for that year.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Changes in the value of non-monetary items
resulting from changes in foreign exchange rates are recognized temporarily
under the heading &#8220;Accumulated other comprehensive income - Items that may be
reclassified to profit or loss - Exchange differences&#8221; in the accompanying
consolidated balance sheets. Changes in foreign exchange rates which affect
monetary items are recognized under the heading &#8220;Exchange differences,
net&quot; in the accompanying consolidated income statements (see Note 41).</font></font><a name="XBRL_TS_3943fdf9a5754b6abeefba981_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_7515417539154265afde8a340"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8220;Financial assets and liabilities at amortized cost&#8221;</font></font><a name="XBRL_TS_7515417539154265afde8a340_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_5546fe3a828e4074b10469397"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assets and
liabilities recognized under these headings in the accompanying consolidated
balance sheets are subsequently measured at &#8220;amortized cost&#8221; using the
&#8220;effective interest rate&#8221; method. This is because the consolidated entities
generally intend to hold such financial instruments to maturity.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Net impairment losses of assets recognized
under these headings arising in each year are recognized under the heading
&#8220;Impairment or reversal of impairment on financial assets not measured at fair
value through profit or loss &#8211; financial assets measured at cost&#8221; (see Note 47)
in the consolidated income statement for that year.</font></font><a name="XBRL_TS_5546fe3a828e4074b10469397_bclEnd"></a><a name="XBRL_TS_82bef2bae84a4e2a9d9b10863_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_af00c328b8284c0481e2ed629"></a><a name="XBRL_TS_5fc63aa131e149c783974b70e"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8220;Derivatives-Hedge Accounting&#8221; and &#8220;Fair value changes of the
hedged items in portfolio hedges of interest-rate risk&#8221; applicable in the
financial years 2018, 2017 and 2016</font></b></font><a name="XBRL_TS_5fc63aa131e149c783974b70e_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_d7667e4699c0426d9f3a1e947"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assets and
liabilities recognized under these headings in the accompanying consolidated
balance sheets are measured at fair</font><font color=#7F7F7F face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">value.
&nbsp;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-23</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Changes
occurring subsequent to the designation of the hedging relationship in the
measurement of financial instruments designated as hedged items as well as
financial instruments designated as hedge accounting instruments are recognized
as follows:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In fair
value hedges, the changes in the fair value of the derivative and the hedged
item attributable to the hedged risk are recognized under the heading &#8220;Gains or
losses from hedge accounting, net&#8221; in the consolidated income statement, with a
corresponding offset under the headings where hedging items (&quot;Hedging
derivatives&quot;) and the hedged items are recognized, as applicable. Almost
all of the hedges used by the Group are for interest-rate risks. Therefore, the
valuation changes are recognized under the headings &#8220;Interest and other income&#8221;
or &#8220;Interest expense&#8221;, as appropriate, in the accompanying consolidated income
statement (see Note 37).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In fair
value hedges of interest rate risk of a portfolio of financial instruments
(portfolio-hedges), the gains or losses that arise in the measurement of the
hedging instrument are recognized in the consolidated income statement, and the
gains or losses that arise from the change in the fair value of the hedged item
(attributable to the hedged risk) are also recognized in the consolidated
income statement (in both cases under the heading &#8220;Gains or losses from hedge
accounting, net&#8221;, using, as a balancing item, the headings &quot;Fair value
changes of the hedged items in portfolio hedges of interest rate risk&quot; in
the consolidated balance sheets, as applicable).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In cash
flow hedges, the gain or loss on the hedging instruments relating to the effective
portion are recognized temporarily under the heading&#160;&#160; &#8221;Accumulated other
comprehensive income - Items that may be reclassified to profit or loss -
Hedging derivatives. Cash flow hedges&#8221; in the consolidated balance sheets, with
a balancing entry under the heading &#8220;Hedging derivatives&#8221; of the Assets or
Liabilities of the consolidated balance sheets as applicable. These differences
are recognized in the accompanying consolidated income statement under the
headings &#8220;Interest and other income&#8221; or &#8220;Interest expense&#8221; at the time when the
gain or loss in the hedged instrument affects profit or loss, when the forecast
transaction is executed or at the maturity date of the hedged item (see Note
37). </font></font></p>

<p style="border:none;margin-bottom:8.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:107%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:107%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">Differences
in the measurement of the hedging items corresponding to the ineffective
portions of cash flow hedges are recognized directly in the heading &#8220;Gains or
losses from hedge accounting, net&#8221; in the consolidated income statement (see
Note 41).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the
hedges of net investments in foreign operations, the differences attributable
to the effective portions of hedging items are recognized temporarily under the
heading &quot;Accumulated other comprehensive income - Items that may be
reclassified to profit or loss &#8211; Hedging of net investments in foreign
transactions&quot; in the consolidated balance sheets with a balancing entry
under the heading &#8220;Hedging derivatives&#8221; of the Assets or Liabilities of the
consolidated balance sheets as applicable. These differences in valuation are
recognized under the heading &#8220;Exchange differences, net&quot; in the
consolidated income statement when the investment in a foreign operation is
disposed of or derecognized (see Note 41).</font></font><a name="XBRL_TS_d7667e4699c0426d9f3a1e947_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_9bba2bbbf8a74f8f83372c261"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Other financial instruments under IAS 39 applicable in the
financial years 2017 and 2016</font></b></font><a name="XBRL_TS_9bba2bbbf8a74f8f83372c261_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_9fe68e8dcbf44dca8ff67345b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
following exceptions are applicable with respect to the above general criteria:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Equity
instruments whose fair value cannot be determined in a sufficiently objective
manner and financial derivatives that have those instruments as their
underlying asset and are settled by delivery of those instruments are recorded
in the consolidated balance sheet at acquisition cost; this may be adjusted,
where appropriate, for any impairment loss (see Note 8).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Accumulated
other comprehensive income arising from financial instruments classified at the
consolidated balance sheet date as &#8220;Non-current assets and disposal groups
classified as held for sale&#8221; are recognized with the corresponding entry under
the heading &#8220;Accumulated other comprehensive income- Items that may be
reclassified to profit or loss &#8211; Non-current assets and disposal groups
classified as held for sale&#8221; in the accompanying consolidated balance sheets
(see note 30).</font></font><a name="XBRL_TS_9fe68e8dcbf44dca8ff67345b_bclEnd"></a><a name="XBRL_TS_af00c328b8284c0481e2ed629_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_484516ac357641079bc85ba15"></a><a name="XBRL_TS_262288fbbe4e47b68f92f81dd"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-24</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Impairment losses on
financial assets</font></b></font><a name="XBRL_TS_262288fbbe4e47b68f92f81dd_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_ef05dea5c7c54c9cb199688d9"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Definition of impaired financial assets under IFRS 9</font></font><a name="XBRL_TS_ef05dea5c7c54c9cb199688d9_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_cf7392e394014c5e9c36be2dd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRS 9 replaced the &quot;incurred
loss&quot; model in IAS 39 with one of &quot;expected credit loss&quot;. The
IFRS 9 impairment model is applied to financial assets valued at amortized cost
and to financial assets valued at fair value with changes in accumulated other
comprehensive income, except for investments in equity instruments and
contracts for financial guarantees and loan commitments </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">unilaterally
revocable by BBVA. Likewise, all the financial instruments valued at fair value
with change through profit and loss are excluded from the impairment model</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The new standard classifies financial
instruments into three categories, which depend on the evolution of their
credit risk from the moment of initial recognition. The first category includes
the transactions when they are initially recognized (Stage 1); the second
comprises the financial assets for which a significant increase in credit risk
has been identified since its initial recognition (Stage 2) and the third one,
the impaired financial assets (Stage 3).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The calculation of the provisions for credit
risk in each of these three categories must be done differently. In this way,
expected loss up to 12 months for the financial assets classified in the first
of the aforementioned categories must be recorded, while expected losses
estimated for the remaining life of the financial assets classified in the
other two categories must be recorded. Thus, IFRS 9 differentiates between the
following concepts of expected loss: </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Expected
loss at 12 months: expected credit loss that arises from possible default events
within 12 months following the presentation date of the financial statements;
and</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Expected
loss during the life of the transaction: this is the expected credit loss that
arises from all possible default events over the remaining life of the
financial instrument.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">All this requires considerable judgment, both
in the modeling for the estimation of the expected losses and in the forecasts,
on how the economic factors affect such losses, which must be carried out on a
weighted probability basis. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group has applied the following
definitions in accordance with IFRS 9:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Default</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA has applied a definition of default for
financial instruments that is consistent with that used in internal credit risk
management, as well as the indicators under applicable regulation at the date
of implementation of IFRS 9. Both qualitative and quantitative indicators have
been considered.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group has considered there is a default
when one of the following situations occurs: </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Payment past-due
for more than 90 days; or</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">There
are reasonable doubts regarding the full reimbursement of the instrument.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In accordance with IFRS 9, the 90-day past-due
stipulation may be waived in cases where the entity considers it appropriate,
based on reasonable and documented information that it is appropriate to use a
longer term. </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, the Group has not considered periods
higher than 90 days for any of the significant portfolios. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Credit
impaired asset</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">An asset is credit-impaired according to IFRS 9
if one or more events have occurred and they have a detrimental impact on the
estimated future cash flows of the asset. Evidence that a financial asset is
credit-impaired includes observable data about the following events:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Significant
financial difficulty of the issuer or the borrower.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-25</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A breach
of contract (e.g. a default or past due event).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A lender
having granted a concession to the borrower &#8211; for economic or contractual
reasons relating to the borrower&#8217;s financial difficulty &#8211; that the lender would
not otherwise consider.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">It becoming
probable that the borrower will enter bankruptcy or other financial
reorganization.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
disappearance of an active market for that financial asset because of financial
difficulties.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
purchase or origination of a financial asset at a deep discount that reflects
the incurred credit losses.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">It may not be possible to identify a single
discrete event. Instead, the combined effect of several events may cause
financial assets to become credit-impaired.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The definition of impaired financial assets in
the Group is aligned with the definition of default explained in the above
paragraphs.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Significant
increase in credit risk </font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The objective of the impairment requirements is
to recognize lifetime expected credit losses for financial instruments for
which there have been significant increases in credit risk since initial
recognition considering all reasonable and supportable information, including
that which is forward-looking.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The model developed by the Group for assessing
the significant increase in credit risk has a two-prong approach that is
applied globally, although the specific characteristics of each geographic area
are respected:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Quantitative
criterion: the Group uses a quantitative analysis based on comparing the
current expected probability of default over the life of the transaction with
the original adjusted expected probability of default, so that both values are
comparable in terms of expected default probability for their residual life.
The thresholds used for considering a significant increase in risk take into
account special cases according to geographic areas and portfolios. Depending
on how old current transactions are at the time implementation of the standard,
some simplifications were made to compare the probabilities of default between
the current and the initial moment, based on the best information available at
that moment.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Qualitative
criterion: most indicators for detecting significant risk increase are included
in the Group's systems through rating/scoring systems or macroeconomic
scenarios, so the quantitative analysis covers the majority of circumstances.
The Group will use additional qualitative criteria when it considers it
necessary to include circumstances that are not reflected in the rating/score
systems or macroeconomic scenarios used. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Additionally, instruments under one of the
following circumstances are considered Stage 2:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">More
than 30 days past due. According to IFRS 9, default of more than 30 days is a
presumption that can be rebutted in those cases in which the entity considers, based
on reasonable and documented information, that such non-payment does not
represent a significant increase in risk. As of December 31, 2018, the Group
has not considered periods higher than 30 days for any of the significant
portfolios.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Watch
list: They are subject to special watch by the Risks units because they show
negative signs in their credit quality, even though there may be no objective
evidence of impairment.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Refinance
or restructuring that does not show evidence of impairment.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-26</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Although
the standard introduces a series of operational simplifications or practical
solutions for analyzing the increase in significant risk, the Group does not
use them as a general rule. However, for high-quality assets, mainly related to
certain government institutions and bodies, the standard allows for considering
that their credit risk has not increased significantly because they have a low
credit risk at the presentation date.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Thus the classification of financial
instruments subject to impairment under the new IFRS 9 is as follows:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font color=#365F91 face=Symbol style="border:none;"><font color=#365F91 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#365F91 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#365F91 face=Arial,sans-serif style="border:none;"><font color=#365F91 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Stage 1&#8211; without significant increase in credit risk</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial assets which are not considered to
have significantly increased in credit risk have loss allowances measured at an
amount equal to 12 months expected credit losses. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font color=#365F91 face=Symbol style="border:none;"><font color=#365F91 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#365F91 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#365F91 face=Arial,sans-serif style="border:none;"><font color=#365F91 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Stage 2&#8211; significant increases in credit risk</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When the credit risk of a financial asset has
increased significantly since the initial recognition, the impairment losses of
that financial instrument is calculated as the expected credit loss during the
entire life of the asset.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font color=#365F91 face=Symbol style="border:none;"><font color=#365F91 face=Symbol lang=ES style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#365F91 face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#365F91 face=Arial,sans-serif style="border:none;"><font color=#365F91 face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">Stage 3 &#8211; </font></font><font color=#365F91 face=Arial,sans-serif style="border:none;"><font color=#365F91 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Impaired</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When there is objective evidence that the
instrument is credit impaired, the financial asset is transferred to this
category </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">in
which the provision for losses of that financial instrument is calculated as
the expected credit loss </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">during the entire life of the asset.</font></font><a name="XBRL_TS_cf7392e394014c5e9c36be2dd_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_c1e43e0d478246eca93321a7a"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Definition of impaired financial assets under IAS 39 applicable in
the financial years 2017 and 2016</font></font><a name="XBRL_TS_c1e43e0d478246eca93321a7a_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_2c4dbec1c13b4a5598a175727"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A financial
asset is considered impaired &#8211; and therefore its carrying amount is adjusted to
reflect the effect of impairment &#8211; when there is objective evidence that events
have occurred, which:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the
case of debt instruments (loans and advances and debt securities), reduce the
future cash flows that were estimated at the time the instruments were
acquired. So they are considered impaired when there are reasonable doubts that
the carrying amounts will be recovered in full and/or the related interest will
be collected for the amounts and on the dates initially agreed.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the
case of equity instruments, it means that their carrying amount may not be
fully recovered.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As a general rule, the carrying amount of
impaired financial assets is adjusted with a charge to the consolidated income
statement for the year in which the impairment becomes known. The recoveries of
previously recognized impairment losses are reflected, if appropriate, in the
consolidated income statement for the year in which the impairment is reversed
or reduced, with an exception: any recovery of previously recognized impairment
losses for an investment in an equity instrument classified as financial assets
at fair value through other comprehensive income is not recognized in the
consolidated income statement, but under the heading &quot; Accumulated other
comprehensive income - Items that may be reclassified to profit or loss -
financial assets at fair value through other comprehensive income&quot; in the
consolidated balance sheet (see Note 30).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In general, amounts collected on impaired loans
and receivables are used to recognize the related accrued interest and any
excess amount is used to reduce the unpaid principal. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When the recovery of any recognized amount is
considered remote, such amount is written-off on the consolidated balance
sheet, without prejudice to any actions that may be taken in order to collect
the amount until the rights extinguish in full either because it is time-barred
debt, the debt is forgiven, or other reasons.</font></font><a name="XBRL_TS_2c4dbec1c13b4a5598a175727_bclEnd"></a><a name="XBRL_TS_484516ac357641079bc85ba15_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Method for calculating
expected credit loss under IFRS 9</font></b></font><a name="XBRL_TS_e858187ccbdc449b82c069c50_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_68460f119d4743e9b7fc57b19"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Method for
calculating expected loss</font></font><a name="XBRL_TS_68460f119d4743e9b7fc57b19_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_3be538feb4164c56833b21e9c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In accordance with IFRS 9, the measurement
of expected losses must reflect:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A
considered and unbiased amount, determined by evaluating a range of possible
results.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The time
value of money.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Reasonable
and supportable information that is available without undue cost or effort and
that reflects current conditions and forecasts of future economic conditions. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group measures the expected losses both
individually and collectively. The purpose of the Group's individual
measurement is to estimate expected losses for significant impaired instruments,
or instruments classified in Stage 2. In these cases, the amount of credit
losses is calculated as the difference between expected discounted cash flows
at the effective interest rate of the transaction and the carrying amount of
the instrument. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">For the collective measurement of expected
losses the instruments are grouped into groups of assets based on their risk
characteristics. Exposure within each group is segmented according to the
common credit risk characteristics, similar characteristics of the credit risk,
indicative of the payment capacity of the borrower in accordance with their
contractual conditions. These risk characteristics have to be relevant in
estimating the future flows of each group. The characteristics of credit risk
may consider, among others, the following factors:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Type of
instrument.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Rating
or scoring tools.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Credit
risk scoring or rating.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Type of
collateral.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Amount
of time at default for stage 3.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Segment.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Qualitative
criteria which can have a significant increase in risk.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Collateral
value if it has an impact on the probability of a default event.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The estimated losses are derived from the
following parameters:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">PD:
estimate of the probability of default in each period.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">EAD:
estimate of the exposure in case of default at each future period, taking into
account the changes in exposure after the presentation date of the financial
statements. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">LGD:
estimate of the loss in case of default, calculated as the difference between
the contractual cash flows and receivables, including guarantees. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the case of debt securities, the Group
supervises the changes in credit risk through monitoring the external published
credit ratings.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">To determine whether there is a significant
increase in credit risk that is not reflected in the published ratings, the
Group also revises the changes in bond yields, and when they are available, the
prices of CDS, together with the news and regulatory information available on
the issuers.</font></font><a name="XBRL_TS_3be538feb4164c56833b21e9c_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Use of present, past and future information</font></font><a name="XBRL_TS_f836c6721d604530a114cf959_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_73460f88a8fe4e1da641a68a1"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRS 9 requires incorporation of
present, past and future information to detect any significant increase in risk
and measure expected loss.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The standard does not require identification of
all possible scenarios for measuring expected loss. However, the probability of
a loss event occurring and the probability it will not occur have to be
considered, even though the possibility of a loss may be very small. Also, when
there is no linear relation between the different future economic scenarios and
their associated expected losses, more than one future economic scenario must
be used for the measurement. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The approach used by the Group consists of
using first the most probable scenario (baseline scenario) consistent with that
used in the Group's internal management processes, and then applying an
additional adjustment, calculated by considering the weighted average of
expected losses in other economic scenarios (one more positive and the other
more negative). The main macroeconomic variables that are valued in each of the
scenarios for each of the geographies in which the Group operates are Gross
Domestic Product (GDP), tax rates, unemployment rate and loan to value (LTV).</font></font><a name="XBRL_TS_73460f88a8fe4e1da641a68a1_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_babcea9deef849918d6f0a96a"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Method for calculating the impairment on financial assets under
IAS 39 applicable in the financial years 2017 and 2016</font></b></font><a name="XBRL_TS_babcea9deef849918d6f0a96a_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_139a2792d87248f3968c799ed"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The impairment
on financial assets is determined by type of instrument and other circumstances
that could affect it, taking into account the guarantees received to assure (in
part or in full) the performance of the financial assets. The BBVA Group
recognizes impairment charges directly against the impaired financial asset
when the likelihood of recovery is deemed remote, and uses an offsetting or
allowance account when it recognizes non-performing loan provisions for the
estimated losses.</font></font><a name="XBRL_TS_139a2792d87248f3968c799ed_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_ecc37cd43c734ad3a967fb1e9"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Impairment of debt instruments measured at amortized cost</font></font><a name="XBRL_TS_ecc37cd43c734ad3a967fb1e9_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_ec4b601fd07b483180726b60b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With regard
to impairment losses arising from insolvency risk of the obligors (credit
risk), a debt instrument, mainly Loans and receivables, is impaired due to
insolvency when a deterioration in the ability to pay by the obligor is
evidenced, either due to past due status or for other reasons.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group has developed policies, methods
and procedures to estimate incurred losses on outstanding credit risk. These
policies, methods and procedures are applied in the due diligence, approval and
execution of debt instruments and commitments and guarantees given; as well as
in identifying the impairment and, where appropriate, in calculating the
amounts necessary to cover estimated losses.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amount of impairment losses on debt
instruments measured at amortized cost is calculated based on whether the
impairment losses are determined individually or collectively. First it is
determined whether there is objective evidence of impairment individually for
individually significant debt instrument, and collectively for debt instrument
that are not individually significant. If the Group determines that there is no
objective evidence of impairment, the assets are classified in groups of debt
instrument based on similar risk characteristics and impairment is assessed
collectively.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In determining whether there is objective
evidence of impairment the Group uses observable data in the following aspects:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Significant
financial difficulties of the obligors.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Ongoing
delays in the payment of interest or principal.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Refinancing
of credit due to financial difficulties by the counterparty.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Bankruptcy
or reorganization / liquidation are considered likely.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Disappearance
of the active market for a financial asset because of financial difficulties.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Observable
data indicating a reduction in future cash flows from the initial recognition
such as adverse changes in the payment status of the counterparty (delays in
payments, reaching credit cards limits, etc.).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">National
or local economic conditions that are linked to &quot;defaults&quot; in the
financial assets (unemployment rate, falling property prices, etc.).</font></font><a name="XBRL_TS_ec4b601fd07b483180726b60b_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:6.0pt;page-break-after:auto;text-align:justify;text-indent:-35.4pt;"><a name="XBRL_TS_a7d15111b094431d9906933f0"></a><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Impairment losses on financial assets individually evaluated for
impairment</font></font><a name="XBRL_TS_a7d15111b094431d9906933f0_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_75bea5a372964dee9ec558f43"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amount
of the impairment losses incurred on financial assets represents the excess of
their respective carrying amounts over the present values of their expected
future cash flows. These cash flows are discounted using the original effective
interest rate. If a financial asset has a variable interest rate, the discount
rate for measuring any impairment loss is the current effective rate determined
under the contract.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As an exception to the rule described above,
the market value of listed debt instruments is deemed to be a fair estimate of
the present value of their expected future cash flows.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The following is to be taken into consideration
when estimating the future cash flows of debt instruments:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">All
amounts that are expected to be recovered over the remaining life of the debt
instrument; including, where appropriate, those which may result from the
collateral and other credit enhancements provided for the debt instrument
(after deducting the costs required for foreclosure and subsequent sale).
Impairment losses include an estimate for the possibility of collecting
accrued, past-due and uncollected interest.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
various types of risk to which each debt instrument is subject.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
circumstances in which collections will foreseeably be made.</font></font><a name="XBRL_TS_75bea5a372964dee9ec558f43_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_6a66e65b728943e888efcd681"></a><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Impairment losses on
financial assets collectively evaluated for impairment</font></font><a name="XBRL_TS_6a66e65b728943e888efcd681_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_f450e42fd2c24091a668caa14"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With regard
to the collective impairment analysis, financial assets are grouped by risk
type considering the debtor's capacity to pay based on the contractual terms.
As part of this analysis, the BBVA Group estimates the impairment loan losses
that are not individually significant, distinguishing between those that show
objective evidence of impairment, and those that do not show objective evidence
of impairment, as well as the impairment of significant loans that the BBVA
Group has deemed as not showing an objective evidence of impairment.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With respect to financial assets that have no
objective evidence of impairment, the Group applies statistical methods using
historical experience and other specific information to estimate the losses
that the Group has incurred as a result of events that have occurred as of the
date of preparation of the Consolidated Financial Statements but have not been
known and will be apparent, individually after the date of submission of the
information. This calculation is an intermediate step until these losses are
identified on an individual level, at which time these financial instruments
will be segregated from the portfolio of financial assets without objective
evidence of impairment.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The incurred loss is calculated taking into
account three key factors: exposure at default, probability of default and loss
given default.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Exposure
at default (EAD) is the amount of risk exposure at the date of default by the
counterparty.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Probability
of default (PD) is the probability of the counterparty failing to meet its
principal and/or interest payment obligations. The PD is associated with the
rating/scoring of each counterparty/transaction. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Loss
given default (LGD) is the estimate of the loss arising in the event of
default. It depends mainly on the characteristics of the counterparty, and the
valuation of the guarantees or collateral associated with the asset.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-30</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In order to
calculate the LGD at each balance sheet date, the Group evaluates the whole
amount expected to be obtained over the remaining life of the financial asset.
The recoverable amount from executable secured collateral is estimated based on
the property valuation, discounting the necessary adjustments to adequately
account for the potential fall in value until its execution and sale, as well
as execution costs, maintenance costs and sale costs.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In addition, to identify the
possible incurred but not reported losses (IBNR) in the unimpaired portfolio,
an additional parameter called &quot;LIP&quot; (loss identification period) has
to be introduced. The LIP parameter is the period between the time at which the
event that generates a given loss occurs and the time when the loss is
identified at an individual level. </font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">When the property right is
contractually acquired at the end of the foreclosure process or when the assets
of distressed borrowers are purchased, the asset is recognized in the
consolidated balance sheets (see Note 2.2.4).</font></font><a name="XBRL_TS_f450e42fd2c24091a668caa14_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_1b17b204696a44e38c2f38d40"></a><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Impairment of other debt
instruments classified as financial assets available for sale</font></font><a name="XBRL_TS_1b17b204696a44e38c2f38d40_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_c0cd620f248a43eca1445f30d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
impairment losses on other debt instruments included in the &#8220;Available-for-sale
financial asset&#8221; portfolio are equal to the excess of their acquisition cost
(net of any principal repayment), after deducting any impairment loss
previously recognized in the consolidated income statement over their fair value.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When there is objective evidence that the
negative differences arising on measurement of these debt instruments are due
to impairment, they are no longer considered as &#8220;Accumulated other
comprehensive income - Items that may be reclassified to profit or loss -
financial assets at fair value through other comprehensive income&#8221; and are
recognized in the consolidated income statement. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">If all, or part of the impairment losses are
subsequently recovered, the amount is recognized in the consolidated income statement
for the year in which the recovery occurred, up to the amount previously
recognized in the income statement.</font></font><a name="XBRL_TS_c0cd620f248a43eca1445f30d_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_0e64cbd65c3d447d8e6cffa39"></a><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Impairment of equity
instruments</font></font><a name="XBRL_TS_0e64cbd65c3d447d8e6cffa39_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_75d01256c4b742588843a556c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amount
of the impairment in the equity instruments is determined by the category where
they are recognized:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Equity
instruments classified at available for sale at fair value:</font></i></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When there is objective evidence that the negative differences
arising on measurement of these equity instruments are due to impairment, they
are no longer recorded as &#8220;Accumulated other comprehensive income - Items that
may be reclassified to profit or loss - Financial assets available for sale&#8221;
and are recognized in the consolidated income statement. In general, the Group
considers that there is objective evidence of impairment on equity instruments
classified as available-for-sale when significant unrealized losses have
existed over a sustained period of time due to a price reduction of at least
40% or over a period of more than 18 months. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When applying this evidence of impairment, the Group takes into
account the volatility in the price of each individual equity instrument to
determine whether it is a percentage that can be recovered through its sale in
the market; other different thresholds may exist for certain equity instruments
or specific sectors. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, for individually significant investments, the Group
compares the valuation of the most significant equity instruments against
valuations performed by independent experts.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Any
recovery of previously recognized impairment losses for an investment in an
equity instrument classified at fair value through other comprehensive income
is not recognized in the consolidated income statement, but under the heading
&quot; Accumulated other comprehensive income - Items that may be reclassified
to profit or loss - financial assets available for sale&quot; in the
consolidated balance sheet (see Note 30).</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-31</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_314"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Equity
instruments measured at cost:</font></i></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The impairment losses on equity instruments measured at
acquisition cost are equal to the excess of their carrying amount over the
present value of expected future cash flows discounted at the market rate of
return for similar equity instruments. In order to determine these impairment
losses, unless there is better evidence, an assessment of the equity of the investee
is carried out (excluding Accumulated other comprehensive income due to cash
flow hedges) based on the last approved (consolidated) balance sheet, adjusted
by the unrealized gains at measurement date.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Impairment
losses are recognized in the consolidated income statement in the year in which
they arise as a direct reduction of the cost of the instrument. These
impairment losses may only be recovered subsequently in the event of the sale
of these assets.</font></font><a name="XBRL_TS_3e2a9810a61e46c9b734e6f42_bclEnd"></a><a name="XBRL_TS_75d01256c4b742588843a556c_bclEnd"></a><a name="XBRL_TS_7cd4b60af92749078c2a4fb4b_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_176aa5fc0e0941068a429866e"></a><a name="_Toc105917"></a><a name="_Toc376972285"></a><a name="_Toc376949877"></a><a name="Nota_2_2_2"></a><a name="Nota_2_2_2_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.2&#160;&#160; <a name="XBRL_TS_1f92e904863b4ebaaa29f4069"></a>Transfers and derecognition of
financial assets and liabilities</font></b></font><a name="XBRL_TS_176aa5fc0e0941068a429866e_bclEnd"></a><a name="XBRL_TS_1f92e904863b4ebaaa29f4069_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_8c205de7f7a4409786e610ff3"></a><a name="XBRL_TS_fa42859d9ab946cdbabce5b3c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The accounting treatment of
transfers of financial assets is determined by the form in which risks and
benefits associated with the financial assets involved are transferred to third
parties. Thus the financial assets are only derecognized from the consolidated
balance sheet when the cash flows that they generate are extinguished, when
their implicit risks and benefits have been substantially transferred to third
parties or when the control of financial asset is transferred even in case of
no physical transfer or substantial retention of such assets. In the latter
case, the financial asset transferred is derecognized from the consolidated
balance sheet, and any right or obligation retained or created as a result of
the transfer is simultaneously recognized.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Similarly, financial
liabilities are derecognized from the consolidated balance sheet only if their
obligations are extinguished or acquired (with a view to subsequent
cancellation or renewed placement).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group is considered to
have transferred substantially all the risks and benefits if such risks and
benefits account for the majority of the risks and benefits involved in
ownership of the transferred financial assets. If substantially all the risks
and benefits associated with the transferred financial asset are retained:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
transferred financial asset is not derecognized from the consolidated balance
sheet and continues to be measured using the same criteria as those used before
the transfer.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A
financial liability is recognized at the amount equal to the amount received,
which is subsequently measured at amortized cost or fair value with changes in
the income statement, whichever the case.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Both the
income generated on the transferred (but not derecognized) financial asset and
the expenses of the new financial liability continue to be recognized.</font></font><a name="XBRL_TS_8c205de7f7a4409786e610ff3_bclEnd"></a><a name="XBRL_TS_fa42859d9ab946cdbabce5b3c_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_b8f32d5ec7784520922d0c77b"></a><a name="_Toc105918"></a><a name="_Toc376949878"></a><a name="_Toc376972286"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.3&#160;&#160; </font></b></font><a name="XBRL_TS_83223a86024c4109ac7358fe5"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">Financial guarantees</font></b></font><a name="XBRL_TS_83223a86024c4109ac7358fe5_bclEnd"></a><a name="XBRL_TS_b8f32d5ec7784520922d0c77b_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_dc4ee768c56543f48aeb72a70"></a><a name="XBRL_TS_127f99fba0a44268bc717a2bd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial guarantees are considered
to be those contracts that require their issuer to make specific payments to
reimburse the holder of the financial guarantee for a loss incurred when a
specific borrower breaches its payment obligations on the terms &#8211; whether
original or subsequently modified &#8211; of a debt instrument, irrespective of the
legal form it may take. Financial guarantees may take the form of a deposit,
bank guarantee, insurance contract or credit derivative, among others.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In their
initial recognition, financial guarantees are recognized as liabilities in the
consolidated balance sheet at fair value, which is generally the present value
of the fees, commissions and interest receivable from these contracts over the
term thereof, and the Group simultaneously recognize a corresponding asset in
the consolidated balance sheet for the amount of the fees and commissions
received at the inception of the transactions and the amounts receivable at the
present value of the fees, commissions and interest outstanding.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-32</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_315"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial guarantees,
irrespective of the guarantor, instrumentation or other circumstances, are
reviewed periodically so as to determine the credit risk to which they are
exposed and, if appropriate, to consider whether a provision is required for
them. The credit risk is determined by application of criteria similar to those
established for quantifying impairment losses on debt instruments measured at
amortized cost (see Note 2.2.1).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The provisions recognized for financial
guarantees considered impaired are recognized under the heading &#8220;Provisions -
Provisions for contingent risks and commitments&#8221; on the liability side in the
consolidated balance sheets (see Note 24). These provisions are recognized and
reversed with a charge or credit, respectively; to &#8220;Provisions or reversal of
provision&#8221; in the consolidated income statements (see Note 46).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Income from financial guarantees is recorded
under the heading &#8220;Fee and commission income&#8221; in the consolidated income
statement and is calculated by applying the rate established in the related
contract to the nominal amount of the guarantee (see Note 40).</font></font><a name="XBRL_TS_127f99fba0a44268bc717a2bd_bclEnd"></a><a name="XBRL_TS_dc4ee768c56543f48aeb72a70_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_448eaf7dd9344e5796f2021c6"></a><a name="_Toc105919"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.4&#160;&#160;
</font></b></font><a name="XBRL_TS_a23172a932034b6a83f413633"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">Non-current assets and disposal groups held for
sale and liabilities included in disposal groups classified as held for sale </font></b></font><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">and Liabilities included in
disposal groups classified as held for sale</font></b></font><a name="XBRL_TS_448eaf7dd9344e5796f2021c6_bclEnd"></a><a name="XBRL_TS_a23172a932034b6a83f413633_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_4a1c43debdbb41ceb44596ba1"></a><a name="XBRL_TS_928b3e4b9e38405e96ca012f0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The headings &#8220;Non-current assets
and disposal groups held for sale&#8221; and &#8220;Liabilities included in disposal groups
classified as held for sale&#8221; in the consolidated balance sheets includes the
carrying amount of assets that are not part of the BBVA Group&#8217;s operating
activities. The recovery of this carrying amount is expected to take place
through the price obtained on its disposal (see Note 21).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These headings include individual items and
groups of items (&#8220;disposal groups&#8221;) and disposal groups that form part of a
major operating segment and are being held for sale as part of a disposal plan
(&#8220;discontinued operations&#8221;). The heading </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&#8220;Non-current assets and disposal groups held for sale&#8221;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> include
the assets received by the subsidiaries from their debtors, in full or partial
settlement of the debtors&#8217; payment obligations (assets foreclosed or received
in payment of debt and recovery of lease finance transactions), unless the
Group has decided to make continued use of these assets. The BBVA Group has
units that specialize in real estate management and the sale of this type of
asset.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Symmetrically, the heading &#8220;Liabilities included
in disposal groups classified as held for sale&#8221; in the consolidated balance
sheets reflects the balances payable arising from disposal groups and
discontinued operations.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Non-current assets and disposal groups
classified as held for sale are generally measured, at the acquisition date and
at any later date deemed necessary, at either their carrying amount or the fair
value of the property (less costs to sell), whichever is lower.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the case of real estate assets foreclosed or
received in payment of debts, they are initially recognized at the lower of:
the restated carrying amount of the financial asset and the fair value at the
time of the foreclosure or receipt of the asset less estimated sales costs. The
carrying amount of the financial asset is updated at the time of the
foreclosure, treating the real property received as a secured collateral and
taking into account the credit risk coverage that would correspond to it
according to its classification prior to the delivery. For these purposes, the collateral
will be valued at its current fair value (less sale costs) at the time of
foreclosure. This carrying amount will be compared with the previous carrying
amount and the difference will be recognized as a provision increase, if
applicable. On the other hand, the fair value of the foreclosed asset is
obtained by appraisal, evaluating the need to apply a discount on the asset
derived from the specific conditions of the asset or the market situation for
these assets, and in any case, deducting the company&#8217;s estimated sale costs.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-33</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_316"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">At the time
of the initial recognition, these real estate assets foreclosed or received in
payment of debts, classified as &#8220;Non-current assets and disposal groups held
for sale&#8221; and &#8220;Liabilities included in disposal groups classified as held for
sale&#8221; are valued at the lower of: their restated fair value less estimated sale
costs and their carrying amount; a deterioration or impairment reversal can be
recognized for the difference if applicable.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Non-current assets and disposal groups held for
sale groups classified as held for sale are not depreciated while included
under the heading &#8220;Non-current assets and disposal groups held for sale&#8221;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Fair value of non-current assets held for sale
from foreclosures or recoveries is based, mainly, in appraisals or valuations
made by independent experts&nbsp;on an annual basis or more frequently, should
there be indicators of impairment. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Gains and losses generated on the disposal of
assets and liabilities classified as non-current held for sale, and liabilities
included in disposal groups classified as held for sale as well as impairment
losses and, where pertinent, the related recoveries, are recognized in &#8220;Profit
or loss from non-current assets and disposal groups classified as held for sale
not qualifying as discontinued operations&#8221; in the consolidated income statement
(see Note 50). The remaining income and expense items associated with these
assets and liabilities are classified within the relevant consolidated income
statement headings.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Income and expenses for discontinued
operations, whatever their nature, generated during the year, even if they have
occurred before their classification as discontinued operations, are presented
net of the tax effect as a single amount under the heading &#8220;Profit from
discontinued operations&#8221; in the consolidated income statement, whether the
business remains on the consolidated balance sheet or is derecognized from the
consolidated balance sheet. As long as an asset remains in this category, it
will not be amortized. This heading includes the earnings from their sale or
other disposal.</font></font><a name="XBRL_TS_4a1c43debdbb41ceb44596ba1_bclEnd"></a><a name="XBRL_TS_928b3e4b9e38405e96ca012f0_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_78b04482baad4330ac5a4d1c3"></a><a name="_Toc105920"></a><a name="_Toc376949880"></a><a name="_Toc376972288"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.5&#160;&#160; Tangible assets</font></b></font><a name="XBRL_TS_78b04482baad4330ac5a4d1c3_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_594f3e33fd3f424aa55c343dc"></a><a name="XBRL_TS_3ff1cf133ee248a59f1420659"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Property, plant and equipment for own use</font></font><a name="XBRL_TS_3ff1cf133ee248a59f1420659_bclEnd"></a><a name="XBRL_TS_594f3e33fd3f424aa55c343dc_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_880e3244d50b4a7e98931f7cc"></a><a name="XBRL_TS_9f8f686065ff48d0a025df087"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This heading includes the assets
under ownership or acquired under finance lease, intended for future or current
use by the BBVA Group and that it expects to hold for more than one year. It
also includes tangible assets received by the consolidated entities in full or
partial settlement of financial assets representing receivables from third
parties and those assets expected to be held for continuing use.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Property, plant and equipment for own use are
presented in the consolidated balance sheets at acquisition cost, less any
accumulated depreciation and, where appropriate, any estimated impairment
losses resulting from comparing this net carrying amount of each item with its
corresponding recoverable amount (see Note 17).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Depreciation is calculated using the
straight-line method, on the basis of the acquisition cost of the assets less
their residual value; the land is considered to have an indefinite life and is
therefore not depreciated</font></font><a name="XBRL_TS_9f8f686065ff48d0a025df087_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_1fb85b73ce2b42efbf634c8f7"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
tangible asset depreciation charges are recognized in the accompanying
consolidated income statements under the heading &quot;Depreciation and
Amortization&quot; (see Note 45) and are based on the application of the
following depreciation rates (determined on the basis of the average years of
estimated useful life of the various assets):</font></font><a name="XBRL_TS_1fb85b73ce2b42efbf634c8f7_bclEnd"></a><a name="XBRL_TS_880e3244d50b4a7e98931f7cc_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=2 nowrap width=100% style="background:#E9E9E9;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Depreciation Rates
  for Tangible Assets</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=89% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Type of
  Assets</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Annual Percentage</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=89% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Buildings for own use</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1% - 4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=89% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Furniture</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8% - 10%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=89% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fixtures</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6% - 12%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=89% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Office supplies and hardware</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8% - 25%</font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-34</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_317"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_0cd62d3c01c143ae98ffd88c9"></a><a name="XBRL_TS_fd1767a844444990a6d57af0a"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">At each reporting date, the Group
entities analyze whether there are internal or external indicators that a
tangible asset may be impaired. When there is evidence of impairment, the Group
analyzes whether this impairment actually exists by comparing the asset&#8217;s net
carrying amount with its recoverable amount (as the higher between its
recoverable amount less disposal costs and its value in use). When the carrying
amount exceeds the recoverable amount, the carrying amount is written down to
the recoverable amount and depreciation charges going forward are adjusted to
reflect the asset&#8217;s remaining useful life.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Similarly, if there is any indication that the
value of a tangible asset is now recoverable, the consolidated entities will
estimate the recoverable amounts of the asset and recognize it in the
consolidated income statement, recording the reversal of the impairment loss
recognized in previous years and thus adjusting future depreciation charges.
Under no circumstances may the reversal of an impairment loss on an asset raise
its carrying amount above that which it would have if no impairment losses had
been recognized in prior years.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the BBVA Group, most of the buildings held
for own use are assigned to the different Cash-Generating-Units (CGU) to which
they belong. The corresponding impairment analysis are performed for these CGUs
to check whether sufficient cash flows are generated to support the value of
the assets comprised within.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Running and maintenance expenses relating to
tangible assets held for own use are recognized as an expense in the year they
are incurred and recognized in the consolidated income statements under the
heading &quot;Administration costs - Other administrative expenses - Property,
fixtures and equipment&quot; (see Note 44.2).</font></font><a name="XBRL_TS_fd1767a844444990a6d57af0a_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_9000e3389f8a4d2ab28efd162"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Other assets leased out under an operating lease</font></font><a name="XBRL_TS_9000e3389f8a4d2ab28efd162_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_f93a2c718c9646a7b4f217263"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
criteria used to recognize the acquisition cost of assets leased out under
operating leases, to calculate their depreciation and their respective
estimated useful lives and to recognize the impairment losses on them, are the
same as those described in relation to tangible assets for own use.</font></font><a name="XBRL_TS_f93a2c718c9646a7b4f217263_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_108432db26ad4576ae7c659c1"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Investment properties</font></font><a name="XBRL_TS_108432db26ad4576ae7c659c1_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_fc7907817e054be09c4140635"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The heading
&#8220;Tangible assets - Investment properties&#8221; in the consolidated balance sheets
reflects the net values (purchase cost minus the corresponding accumulated
depreciation and, if appropriate, estimated impairment losses) of the land,
buildings and other structures that are held either to earn rentals or for
capital appreciation through sale and that are neither expected to be sold off
in the ordinary course of business nor are destined for own use (see Note 17).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The criteria used to recognize the acquisition
cost of investment properties, calculate their depreciation and their respective
estimated useful lives and recognize the impairment losses on them, are the
same as those described in relation to tangible assets held for own use.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group determines periodically the fair
value of its investment properties in such a way that, at the end of the
financial year, the fair value reflects the market conditions of investment
property assets&#8217; market at this date. This fair value will be determined taking
as references the valuations performed by independent experts.</font></font><a name="XBRL_TS_0cd62d3c01c143ae98ffd88c9_bclEnd"></a><a name="XBRL_TS_fc7907817e054be09c4140635_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_033f69021ec741f8b8cd22468"></a><a name="_Toc105921"></a><a name="_Toc376949881"></a><a name="_Toc376972289"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-35</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.6&#160;&#160;
<a name="XBRL_TS_cf715fa9cc494e7b83ceade56"></a>Inventories</font></b></font><a name="XBRL_TS_033f69021ec741f8b8cd22468_bclEnd"></a><a name="XBRL_TS_cf715fa9cc494e7b83ceade56_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_604f28f0786d47db9aa2ab533"></a><a name="XBRL_TS_96b352cddd2f488a980a19f62"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The balance under the heading
&#8220;Other assets - Inventories&#8221; in the consolidated balance sheets mainly includes
the land and other properties that the BBVA Group&#8217;s real estate entities hold
for development and sale as part of their real estate development activities
(see Note 20).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The cost of inventories includes those costs
incurred in their acquisition and development, as well as other direct and
indirect costs incurred in getting them to their current condition and
location.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the case of the cost of real estate assets
accounted for as inventories, the cost is comprised of: the acquisition cost of
the land, the cost of urban planning and construction, non-recoverable taxes
and costs corresponding to construction supervision, coordination and management.
Financing cost incurred during the year form part of cost, provided that the
inventories require more than a year to be in a condition to be sold.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Properties purchased from customers in
distress, which the Group manages for sale, are measured at the acquisition
date and any subsequent time, at either their related carrying amount or the
fair value of the property (less costs to sell), whichever is lower. The
carrying amount at acquisition date of these properties is defined as the
balance pending collection on those assets that originated said purchases (net
of provisions).</font></font><a name="XBRL_TS_604f28f0786d47db9aa2ab533_bclEnd"></a><a name="XBRL_TS_96b352cddd2f488a980a19f62_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_368a11bbcbc0448081c5bf878"></a><a name="XBRL_TS_9f66111d1d084a3690140e4a0"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Impairment</font></font><a name="XBRL_TS_9f66111d1d084a3690140e4a0_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_98198651897e47d29c0e973f6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amount
of any subsequent adjustment due to inventory valuation for reasons such as
damage, obsolescence, reduction in sale price to its net realizable value, as
well as losses for other reasons and, if appropriate, subsequent recoveries of
value up to the limit of the initial cost value, are recognized under the
heading &quot;Impairment or reversal of impairment on non-financial assets&#8221; in
the accompanying consolidated income statements (see Note 48) for the year in
which they are incurred.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the case of the above mentioned real-estate
assets, if the fair value less costs to sell is lower than the carrying amount
of the loan recognized in the consolidated balance sheet, a loss is recognized
under the heading &quot;Impairment or reversal of impairment on non-financial
assets&quot; in the consolidated income statement for the year. In the case of
real-estate assets accounted for as inventories, the BBVA Group&#8217;s criterion for
determining their net realizable value is mainly based on independent
appraisals no more than one year old, or less if there are indications of
impairment.</font></font><a name="XBRL_TS_368a11bbcbc0448081c5bf878_bclEnd"></a><a name="XBRL_TS_98198651897e47d29c0e973f6_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_0abfa0070eb94307ba86d91a5"></a><a name="XBRL_TS_7af8bfd5634c4da4b30b33070"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Inventory sales</font></font><a name="XBRL_TS_7af8bfd5634c4da4b30b33070_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_bb03da3ac83c4b52a988abc3d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In sale
transactions, the carrying amount of inventories is derecognized from the
consolidated balance sheet and recognized as an expense under the income
statement heading &quot;Other operating expenses &#8211; Changes in inventories&#8221; in
the year in which the income from its sale is recognized. This income is
recognized under the heading &#8220;Other operating income &#8211; Financial income from
non-financial services&#8221; in the consolidated income statements (see Note 42).</font></font><a name="XBRL_TS_0abfa0070eb94307ba86d91a5_bclEnd"></a><a name="XBRL_TS_bb03da3ac83c4b52a988abc3d_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_a1df7b1ff20e46f195efd6455"></a><a name="_Toc105922"></a><a name="_Toc376949882"></a><a name="_Toc376972290"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.7&#160;&#160; </font></b></font><a name="XBRL_TS_9b0c2c141efd4429acc654768"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">Business combinations</font></b></font><a name="XBRL_TS_9b0c2c141efd4429acc654768_bclEnd"></a><a name="XBRL_TS_a1df7b1ff20e46f195efd6455_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_bcfcb7d9a1774ca285cd80bf3"></a><a name="XBRL_TS_ba6a42af3a274fa9b7080c897"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A business combination is a
transaction, or any other deal, by which the Group obtains control of one or
more businesses. It is accounted for by applying the acquisition method.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">According to this method, the acquirer has to
recognize the assets acquired and the liabilities and contingent liabilities
assumed, including those that the acquired entity had not recognized in the
accounts. The method involves the measurement of the consideration received for
the business combination and its allocation to the assets, liabilities and
contingent liabilities measured according to their fair value, at the purchase
date, as well as the recognition of any non-controlling participation (minority
interests) that may arise from the transaction.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-36</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_319"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In a
business combination achieved in stages, the acquirer shall remeasure its
previously held equity interest in the acquiree at its acquisition-date fair
value and recognize the resulting gain or loss, if any, in profit or loss under
the heading &#8220;Gains (losses) on derecognition of non-financial assets and
subsidiaries, net&#8221; of the consolidated income statements. In prior reporting
periods, the acquirer may have recognized changes in the value of its equity
interest in the acquiree in other comprehensive income. If so, the amount that
was recognized in other comprehensive income shall be recognized on the same
basis as would be required if the acquirer had disposed directly of the
previously held equity interest.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, the acquirer shall recognize an
asset in the consolidated balance sheet under the heading &#8220;Intangible asset -
Goodwill&#8221; if on the acquisition date there is a positive difference between:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">the sum
of the consideration transferred, the amount of all the non-controlling
interests and the fair value of stock previously held in the acquired business;
and </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">the net
fair value of the assets acquired and liabilities assumed.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">If this difference is negative, it shall be
recognized directly in the income statement under the heading &#8220;Negative
goodwill recognized in profit or loss&#8221;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Non-controlling interests in the acquired
entity may be measured in two ways: either at their fair value; or at the proportional
percentage of net assets identified in the acquired entity. The method of
valuing non-controlling interest may be elected in each business combination.
BBVA Group has always elected for the second method.</font></font><a name="XBRL_TS_ba6a42af3a274fa9b7080c897_bclEnd"></a><a name="XBRL_TS_bcfcb7d9a1774ca285cd80bf3_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_b2177d57c539462e952f06742"></a><a name="_Toc105923"></a><a name="_Toc376972291"></a><a name="_Toc376949883"></a><a name="Nota_2_2_8"></a><a name="Nota_2_2_8_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.8&#160;&#160; Intangible assets</font></b></font><a name="XBRL_TS_b2177d57c539462e952f06742_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_11eba29a5aac44e694f672f6e"></a><a name="XBRL_TS_8773d43ee86b466cb5d89edeb"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Goodwill</font></font><a name="XBRL_TS_8773d43ee86b466cb5d89edeb_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_437a0f23a8a245578fef8b573"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Goodwill
represents a portion of consideration transferred in advance by the acquiring
entity for the future economic benefits from assets that cannot be individually
identified and separately recognized. Goodwill is never amortized. It is
subject periodically to an impairment analysis, and is written off if there has
been impairment (see Note 18).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Goodwill is assigned to one or more
cash-generating units that expect to be the beneficiaries of the synergies
derived from the business combinations. The cash-generating units represent the
Group&#8217;s smallest identifiable asset groups that generate cash flows for the
Group and that are largely independent of the flows generated from the Group&#8217;s
other assets or groups of assets. Each unit or units to which goodwill is allocated:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Is the
lowest level at which the entity manages goodwill internally.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Is not
larger than an operating segment.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The cash-generating units to which goodwill has
been allocated are tested for impairment (including the allocated goodwill in
their carrying amount). This analysis is performed at least annually or more
frequently if there is any indication of impairment.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">For the purpose of determining the impairment
of a cash-generating unit to which a part of goodwill has been allocated, the
carrying amount of that cash-generating unit, adjusted by the theoretical
amount of the goodwill attributable to the non-controlling interests, in the
event they are not valued at fair value, is compared with its recoverable
amount.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-37</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_320"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
recoverable amount of a cash-generating unit is equal to the fair value less
sale costs or its value in use, whichever is greater. Value in use is
calculated as the discounted value of the cash flow projections that the unit&#8217;s
management estimates and is based on the latest budgets approved for the coming
years. The main assumptions used in its calculation are: a sustainable growth
rate to extrapolate the cash flows indefinitely, and the discount rate used to
discount the cash flows, which is equal to the cost of the capital assigned to
each cash-generating unit, and equivalent to the sum of the risk-free rate plus
a risk premium inherent to the cash-generating unit being evaluated for
impairment.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">If the carrying amount of the cash-generating
unit exceeds the related recoverable amount, the Group recognizes an impairment
loss; the resulting loss is apportioned by reducing, first, the carrying amount
of the goodwill allocated to that unit and, second, if there are still
impairment losses remaining to be recognized, the carrying amount of the remainder
of the assets. This is done by allocating the remaining loss in proportion to
the carrying amount of each of the assets in the unit. In the event the
non-controlling interests are measured at fair value, the deterioration of
goodwill attributable to non-controlling interests will be recognized. In any
case, an impairment loss recognized for goodwill shall not be reversed in a
subsequent period.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Goodwill impairment losses are recognized under
the heading &quot;Impairment or reversal of impairment on non-financial assets
&#8211; Intangible assets&#8221; in the consolidated income statements (see Note 48).</font></font><a name="XBRL_TS_11eba29a5aac44e694f672f6e_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_6d61837f4f4d4b85983d81612"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Other intangible assets</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These assets may have an indefinite useful life
if, based on an analysis of all relevant factors, it is concluded that there is
no foreseeable limit to the period over which the asset is expected to generate
net cash flows for the consolidated entities. In all other cases they have a
finite useful life (see Note 18).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Intangible assets with a finite useful life are
amortized according to the duration of this useful life, using methods similar
to those used to depreciate tangible assets. The defined useful life intangible
asset is made up mainly of IT applications acquisition costs which have a
useful life of 3 to 5 years. The depreciation charge of these assets is
recognized in the accompanying consolidated income statements under the heading
&quot;Depreciation and amortization&quot; (see Note 45).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#222222 face=Arial,sans-serif style="background:white;border:none;"><font color=#222222 face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;line-height:115%;">The consolidated
entities recognize any impairment loss on the carrying amount of these assets
with charge to the heading &#8220;Impairment or reversal of impairment on non -
financial assets- Intangible assets&#8221; in the accompanying consolidated income
statements (see Note 48). </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The criteria used to recognize the impairment
losses on these assets and, where applicable, the recovery of impairment losses
recognized in prior years, are similar to those used for tangible assets.</font></font><a name="XBRL_TS_437a0f23a8a245578fef8b573_bclEnd"></a><a name="XBRL_TS_6d61837f4f4d4b85983d81612_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_980e60168ffc410a9879308c3"></a><a name="_Toc105924"></a><a name="_Toc376949884"></a><a name="_Toc376972292"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.9&#160;&#160; </font></b></font><a name="XBRL_TS_0fb5c336f4d74c0db7f23b120"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">Insurance and reinsurance contracts</font></b></font><a name="XBRL_TS_0fb5c336f4d74c0db7f23b120_bclEnd"></a><a name="XBRL_TS_980e60168ffc410a9879308c3_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_2dd9eca4e54f492f962f01978"></a><a name="XBRL_TS_65d05da7037849bdbe494ad84"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The assets and liabilities of the
BBVA Group&#8217;s insurance subsidiaries are recognized according to their nature
under the corresponding headings of the consolidated balance sheets, and the
initial recognition and valuation is carried out according to the criteria set
out in IFRS 4.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The heading &#8220;Insurance and reinsurance assets&#8221;
in the accompanying consolidated balance sheets includes the amounts that the
consolidated insurance subsidiaries are entitled to receive under the
reinsurance contracts entered into by them with third parties and, more
specifically, the reinsurer&#180;s share of the technical provisions recognized by
the consolidated insurance subsidiaries.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The heading &#8220;Liabilities under insurance and
reinsurance contracts&#8221; in the accompanying consolidated balance sheets includes
the technical provisions for direct insurance and inward reinsurance recognized
by the consolidated insurance subsidiaries to cover claims arising from
insurance contracts open at period-end (see Note 23).
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-38</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_321"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The income
or expenses reported by the BBVA Group&#8217;s consolidated insurance subsidiaries on
their insurance activities is recognized, in accordance with their nature, in
the corresponding items of the consolidated income statements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The consolidated insurance entities of the BBVA
Group recognize the amounts of the premiums written and a charge for the
estimated cost of the claims that will be incurred at their final settlement to
their consolidated income statements. At the close of each year the amounts
collected and unearned, as well as the costs incurred and unpaid, are accrued.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The most significant provisions recorded by
consolidated insurance entities with respect to insurance policies issued by
them are set out by their nature in Note 23.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">According to the type of product, the
provisions may be as follows:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Life insurance provisions:</font></b></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Represents the value of the
net obligations undertaken with the life insurance policyholder. These
provisions include:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:37.4pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Provisions
for unearned premiums. These are intended for the accrual, at the date of
calculation, of the premiums written. Their balance reflects the portion of the
premiums received until the closing date that has to be allocated to the period
from year-end to the end of the insurance policy period.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:37.4pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Mathematical
reserves: Represents the value of the life insurance obligations of the
insurance entities at year-end, net of the policyholder&#8217;s obligations, arising
from life insurance contracted.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Non-life insurance
provisions:</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:37.4pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Provisions
for unearned premiums. These provisions are intended for the accrual, at the
date of calculation, of the premiums written. Their balance reflects the
portion of the premiums received until the closing date that has to be
allocated to the period between the year-end and the end of the policy period.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:37.4pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Provisions
for unexpired risks: The provision for unexpired risks supplements the
provision for unearned premiums by the amount by which that provision is not
sufficient to reflect the assessed risks and expenses to be covered by the
consolidated insurance subsidiaries in the policy period not elapsed at
year-end.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Provision for claims:</font></b></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">This reflects
the total amount of the outstanding obligations arising from </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">claims incurred prior to
year-end. Insurance subsidiaries calculate this</font><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">provision
as the difference between the total estimated or certain cost of the claims not
yet reported, settled or paid, and the total amounts already paid in relation
to these claims. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Provision for bonuses and
rebates:</font></b></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">This provision
includes the amount of the bonuses </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">accruing to policyholders, insurees or beneficiaries and the
premiums to be returned to policyholders or insurees, as the case may be, based
on the behavior of the risk insured, to the extent that such amounts have not
been individually assigned to each of them.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-39</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Technical provisions for reinsurance ceded:</font></b></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Calculated by
applying the criteria indicated </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">above for direct insurance, taking account of the assignment
conditions established in the open reinsurance contracts.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Other
technical provisions:</font></b></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Insurance
entities have recognized provisions to cover the probable </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">mismatches in the market
reinvestment interest rates with respect to those used in the valuation of the
technical provisions.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group controls and
monitors the exposure of the insurance subsidiaries to financial risk and, to
this end, uses internal methods and tools that enable it to measure credit risk
and market risk and to establish the limits for these risks.</font></font><a name="XBRL_TS_2dd9eca4e54f492f962f01978_bclEnd"></a><a name="XBRL_TS_65d05da7037849bdbe494ad84_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_1ddbda5280b04ae482d07b57a"></a><a name="_Toc105925"></a><a name="_Toc376949885"></a><a name="_Toc376972293"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.10&#160;&#160; Tax assets and
liabilities</font></b></font><a name="XBRL_TS_1ddbda5280b04ae482d07b57a_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_6946ec303d69475da64efe2d0"></a><a name="XBRL_TS_c8b595d710c647ea94295658b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Expenses on corporate income tax
applicable to the BBVA Group&#8217;s Spanish entities and on similar income taxes
applicable to consolidated foreign entities are recognized in the consolidated
income statement, except when they result from transactions on which the
profits or losses are recognized directly in equity, in which case the related
tax effect is also recognized in equity. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The total corporate income tax expense is calculated
by aggregating the current tax arising from the application of the
corresponding tax rate as per the tax base for the year (after deducting the
tax credits or discounts allowable for tax purposes) and the change in deferred
tax assets and liabilities recognized in the consolidated income statement.</font></font><a name="XBRL_TS_c8b595d710c647ea94295658b_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_d3b790d818be48778509d53c9"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Deferred
tax assets and liabilities include temporary differences, defined as the
amounts to be payable or recoverable in future years arising from the
differences between the carrying amount of assets and liabilities and their tax
bases (the &#8220;tax value&#8221;), and tax loss and tax credit or discount carry forwards
(see Note 19).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The &quot;Tax Assets&quot; line item in the
accompanying consolidated balance sheets includes the amount of all the assets
of a tax nature, broken down into: &quot;Current&#8221; (amounts of tax recoverable
in the next twelve months) and &quot;Deferred&quot; (which includes the amount
of tax to be recovered in future years, including those arising from tax losses
or credits for deductions or rebates that can be compensated). The &quot;Tax
Liabilities&quot; line item in the accompanying consolidated balance sheets
includes the amount of all the liabilities of a tax nature, except for
provisions for taxes, broken down into: &quot;Current&#8221; (income tax payable on
taxable profit for the year and other taxes payable in the next twelve months)
and &quot;Deferred&quot; (the amount of corporate tax payable in subsequent
years).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Deferred tax liabilities attributable to
taxable temporary differences associated with investments in subsidiaries,
associates or joint venture entities are recognized as such, except where the
Group can control the timing of the reversal of the temporary difference and it
is unlikely that it will reverse in the future. Deferred tax assets are
recognized to the extent that it is considered probable that the consolidated
entities will have sufficient taxable profits in the future against which the
deferred tax assets can be utilized and are not from the initial recognition
(except in the case of a business combination) of other assets or liabilities
in a transaction that does not affect the fiscal outcome or the accounting
result.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The deferred tax assets and liabilities
recognized are reassessed by the consolidated entities at each balance sheet
date in order to ascertain whether they still qualify as deferred tax assets
and liabilities, and the appropriate adjustments are made on the basis of the
findings of the analyses performed. In those circumstances in which it is
unclear how a specific requirement of the tax law applies to a particular
transaction or circumstance, and the acceptability of the definitive tax
treatment depends on the decisions taken by the relevant taxation authority in
future, the entity recognizes current and deferred tax liabilities and assets
considering whether it is probable or not that a taxation authority will accept
an uncertain tax treatment.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-40</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_323"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Thus, if
the entity concludes that it is not probable that the taxation authority will
accept an uncertain tax treatment, the entity uses the amount expected to be paid
to (recovered from) the taxation authorities.</font></font><a name="XBRL_TS_d3b790d818be48778509d53c9_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_79c5b5e020724c11b468c5869"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The income
and expenses directly recognized in consolidated equity that do not increase or
decrease taxable income are accounted for as temporary differences.</font></font><a name="XBRL_TS_6946ec303d69475da64efe2d0_bclEnd"></a><a name="XBRL_TS_79c5b5e020724c11b468c5869_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_076b01d9b3e046e5aabcba783"></a><a name="_Toc105926"></a><a name="_Toc376949886"></a><a name="_Toc376972294"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.11&#160;&#160; </font></b></font><a name="XBRL_TS_a9a7c03de7274241801da7032"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">Provisions, contingent assets and contingent liabilities</font></b></font><a name="XBRL_TS_076b01d9b3e046e5aabcba783_bclEnd"></a><a name="XBRL_TS_a9a7c03de7274241801da7032_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_519044a189f14b3d8e844ecee"></a><a name="XBRL_TS_55e3597e17424cd9a7594713a"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The heading &#8220;Provisions&#8221; in the
consolidated balance sheets includes amounts recognized to cover the BBVA
Group&#8217;s current obligations arising as a result of past events. These are
certain in terms of nature but uncertain in terms of amount and/or settlement
date. The settlement of these obligations is deemed likely to entail an outflow
of resources embodying economic benefits (see Note 24). The obligations may
arise in connection with legal or contractual provisions, valid expectations formed
by Group entities relative to third parties in relation to the assumption of
certain responsibilities or through virtually certain developments of
particular aspects of the regulations applicable to the operation of the
entities; and, specifically, future legislation to which the Group will
certainly be subject. The provisions are recognized in the consolidated balance
sheets when each and every one of the following requirements is met:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">They
represent a current obligation that has arisen from a past event. At the date
of the Consolidated Financial Statements, there is more probability that the
obligation will have to be met than that it will not.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">It is
probable that an outflow of resources embodying economic benefits will be
required to settle the obligation.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
amount of the obligation can be reasonably estimated.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Among other items, these provisions include the
commitments made to employees by some of the Group entities (mentioned in Note
2.2.12), as well as provisions for tax and legal litigation.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Contingent assets are possible assets that
arise from past events and whose existence is conditional on, and will be
confirmed only by, the occurrence or non-occurrence of events beyond the
control of the Group. Contingent assets are not recognized in the consolidated
balance sheet or in the consolidated income statement; however, they will be
disclosed, should they exist, in the Notes to the Consolidated Financial
Statements, provided that it is probable will give rise to an increase in
resources embodying economic benefits.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Contingent liabilities are possible obligations
of the Group that arise from past events and whose existence is conditional on
the occurrence or non-occurrence of one or more future events beyond the
control of the Group. They also include the existing obligations of the Group
when it is not probable that an outflow of resources embodying economic
benefits will be required to settle them; or when, in extremely rare cases,
their amount cannot be measured with sufficient reliability. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Contingent liabilities are not recognized in
the consolidated balance sheet or the income statement (excluding contingent
liabilities from business combination) but are disclosed in the Notes to the
Consolidated Financial Statements, unless the possibility of an outflow of
resources embodying economic benefits is remote.</font></font><a name="_Toc376972295"></a><a name="_Toc376949887"></a><a name="Nota_2_2_12"></a><a name="Nota_2_2_12_bclEnd"></a><a name="XBRL_TS_519044a189f14b3d8e844ecee_bclEnd"></a><a name="XBRL_TS_55e3597e17424cd9a7594713a_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_36ad3a5adeb542edb3566ef72"></a><a name="_Toc105927"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.12&#160;&#160;
</font></b></font><a name="XBRL_TS_567ce0dfd3354fe6834479926"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">Pensions and other post-employment commitments</font></b></font><a name="XBRL_TS_36ad3a5adeb542edb3566ef72_bclEnd"></a><a name="XBRL_TS_567ce0dfd3354fe6834479926_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_703065722029426da8fa2779a"></a><a name="XBRL_TS_c4e98a90227145d99fbb15fbf"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Below we provide a description of
the most significant accounting policies relating to post-employment and other
employee benefit commitments assumed by BBVA Group entities (see Note 25).
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-41</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_324"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Short-term
employee benefits</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Benefits for current active employees which are
accrued and settled during the year and for which a provision is not required
in the entity&#180;s accounts. These include wages and salaries, social security
charges and other personnel expenses.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Costs are charged and recognized under the
heading &#8220;Administration costs &#8211; Personnel expenses &#8211; Other personnel expenses&#8221;
of the consolidated income statement (see Note 44.1).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Post-employment benefits &#8211;
Defined-contribution plans</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group sponsors defined-contribution plans
for the majority of its active employees. The amount of these benefits is
established as a percentage of remuneration and/or as a fixed amount.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The contributions made to these plans in each
year by BBVA Group entities are charged and recognized under the heading
&#8220;Administration costs &#8211; Personnel expenses &#8211; Defined-contribution plan expense&#8221;
of the consolidated income statement (see Note 44.1). </font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Post-employment benefits &#8211;
Defined-benefit plans</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Some Group entities maintain pension
commitments with employees who have already retired or taken early retirement,
certain closed groups of active employees still accruing defined benefit
pensions, and in-service death and disability benefits provided to most active
employees. These commitments are covered by insurance contracts, pension funds
and internal provisions.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, some of the Spanish entities have
offered certain employees the option to retire before their normal retirement
age, recognizing the necessary provisions to cover the costs of the associated
benefit commitments, which include both the liability for the benefit payments
due as well as the contributions payable to external pension funds during the
early retirement period.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Furthermore, certain Group entities provide
welfare and medical benefits which extend beyond the date of retirement of the
employees entitled to the benefits.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">All of these commitments are quantified based
on actuarial valuations, with the amounts recorded under the heading
&#8220;Provisions &#8211; Provisions for pensions and similar obligations&#8221; in the
consolidated balance sheet and determined as the difference between the value
of the defined-benefit commitments and the fair value of plan assets at the
date of the Consolidated Financial Statements (see Note 25).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Current service cost are charged and recognized
under the heading &#8220;Administration costs &#8211; Personnel expenses &#8211; Defined-benefit
plan expense&#8221; of the consolidated income statement (see Note 44.1).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Interest credits/charges relating to these
commitments are charged and recognized under the headings &#8220;Interest and other
income&#8221; and &#8220;Interest expense&#8221; of the consolidated income statement (see Note
37).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Past service costs arising from benefit plan
changes as well as early retirements granted during the year are recognized
under the heading &#8220;Provisions or reversals of provisions&#8221; of the consolidated
income statement (see Note 46).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Other long-term employee
benefits</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition to the above commitments, certain
Group entities provide long-term service awards to their employees, consisting
of monetary amounts or periods of vacation granted upon completion of a number
of years of qualifying service.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-42</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_325"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These
commitments are quantified based on actuarial valuations and the amounts
recorded under the heading &#8220;Provisions &#8211; Other long-term employee benefits&#8221; of
the consolidated balance sheet (see Note 24).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Valuation of commitments:
actuarial assumptions and recognition of gains/losses</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The present value of these commitments is
determined based on individual member data. Active employee costs are
determined using the &#8220;projected unit credit&#8221; method, which treats each period
of service as giving rise to an additional unit of benefit and values each unit
separately.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In establishing the actuarial assumptions we
take into account that:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">They
should be unbiased, i.e. neither unduly optimistic nor excessively
conservative.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Each
assumption does not contradict the others and adequately reflect the existing
relationship between economic variables such as price inflation, expected wage
increases, discount rates and the expected return on plan assets, etc. Future
wage and benefit levels should be based on market expectations, at the balance
sheet date, for the period over which the obligations are to be settled.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
interest rate used to discount benefit commitments is determined by reference
to market yields, at the balance sheet date, on high quality bonds.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group recognizes actuarial
gains/losses relating to early retirement benefits, long service awards and
other similar items under the heading &#8220;Provisions or reversal of provisions&#8221; of
the consolidated income statement for the period in which they arise (see Note
46). Actuarial gains/losses relating to pension and medical benefits are
directly charged and recognized under the heading &quot;Accumulated other
comprehensive income &#8211; Items that will not be reclassified to profit or loss &#8211;
Actuarial gains or losses on defined benefit pension plans&quot; of equity in
the consolidated balance sheet (see Note 30).</font></font><a name="XBRL_TS_703065722029426da8fa2779a_bclEnd"></a><a name="XBRL_TS_c4e98a90227145d99fbb15fbf_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_c94f6cc039e24bb082dc86e50"></a><a name="_Toc105928"></a><a name="_Toc376949888"></a><a name="_Toc376972296"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.13&#160;&#160; </font></b></font><a name="XBRL_TS_4ba5fb249846406cbd3fc2dd8"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">Equity-settled share-based payment transactions</font></b></font><a name="XBRL_TS_4ba5fb249846406cbd3fc2dd8_bclEnd"></a><a name="XBRL_TS_c94f6cc039e24bb082dc86e50_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_f68fbd7bfe3f4985ba5761978"></a><a name="XBRL_TS_42829ed57ea94302b6305381d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Provided they constitute the
delivery of such equity instruments following the completion of a specific
period of services, equity-settled share-based payment transactions are
recognized as an expense for services being provided by employees, by way of a
balancing entry under the heading &#8220;Shareholders&#8217; funds &#8211; Other equity
instruments&#8221; in the consolidated balance sheet. These services are measured at
fair value for the employees services received, unless such fair value cannot
be calculated reliably. In such case, they are measured by reference to the
fair value of the equity instruments granted, taking into account the date on
which the commitments were granted and the terms and other conditions included
in the commitments.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When the initial compensation agreement
includes what may be considered market conditions among its terms, any changes
in these conditions will not be reflected in the consolidated income statement,
as these have already been accounted for in calculating the initial fair value
of the equity instruments. Non-market vesting conditions are not taken into
account when estimating the initial fair value of equity instruments, but they
are taken into account when determining the number of equity instruments to be
issued. This will be recognized on the consolidated income statement with the
corresponding increase in total consolidated equity.</font></font><a name="XBRL_TS_42829ed57ea94302b6305381d_bclEnd"></a><a name="XBRL_TS_f68fbd7bfe3f4985ba5761978_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_617d9259b94747219566b8fa7"></a><a name="_Toc105929"></a><a name="_Toc376949889"></a><a name="_Toc376972297"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.14&#160;&#160; </font></b></font><a name="XBRL_TS_623d3c5be9e4423aa8b9ff03e"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">Termination benefits</font></b></font><a name="XBRL_TS_617d9259b94747219566b8fa7_bclEnd"></a><a name="XBRL_TS_623d3c5be9e4423aa8b9ff03e_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_556082388ec54c64a513c0acf"></a><a name="XBRL_TS_c222dbf483bd42baa0dd64813"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Termination benefits are recognized
in the financial statements when the BBVA Group agrees to terminate employment
contracts with its employees and has established a detailed plan.</font></font><a name="XBRL_TS_556082388ec54c64a513c0acf_bclEnd"></a><a name="XBRL_TS_c222dbf483bd42baa0dd64813_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">
&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_7d9a9de3698d45afb3fe169f4"></a><a name="_Toc105930"></a><a name="_Toc376949890"></a><a name="_Toc376972298"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-43</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.15&#160;&#160;
<a name="XBRL_TS_465b7129ede645669447871da"></a>Treasury </font></b></font><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">shares</font></b></font><a name="XBRL_TS_465b7129ede645669447871da_bclEnd"></a><a name="XBRL_TS_7d9a9de3698d45afb3fe169f4_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_73f0eae560c840e28a06756be"></a><a name="XBRL_TS_9e7321f524554f52a4a7442e6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The value of common stock issued by
the BBVA Group&#8217;s entities and held by them - basically, shares and derivatives
on the Bank&#8217;s shares held by some consolidated entities that comply with the
requirements to be recognized as equity instruments - are recognized as a
decrease to net equity, under the heading &quot;Shareholders&#8217; funds - Treasury
stock&quot; in the consolidated balance sheets (see Note 29).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These financial assets are recognized at
acquisition cost, and the gains or losses arising on their disposal are
credited or debited, as appropriate, to the heading &#8220;Shareholders&#8217; funds -
Retained earnings&#8221; in the consolidated balance sheets (see Note 28).</font></font><a name="XBRL_TS_73f0eae560c840e28a06756be_bclEnd"></a><a name="XBRL_TS_9e7321f524554f52a4a7442e6_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_d5fe302ad55f48e18167a0eeb"></a><a name="_Toc105931"></a><a name="_Toc376949891"></a><a name="_Toc376972299"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.16&#160;&#160; </font></b></font><a name="XBRL_TS_12aca49f99a14fb58a7dd4c56"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">Foreign-currency transactions and exchange differences</font></b></font><a name="XBRL_TS_12aca49f99a14fb58a7dd4c56_bclEnd"></a><a name="XBRL_TS_d5fe302ad55f48e18167a0eeb_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_be89ae6503f04df9872e85dac"></a><a name="XBRL_TS_6761f697c4d24d9889f2ba1f3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group&#8217;s functional
currency, and thus the currency in which the Consolidated Financial Statements
are presented, is the euro. As such, all balances and transactions denominated
in currencies other than the euro are deemed to be denominated in &#8220;foreign
currency&#8221;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Conversion to euros of the balances held in
foreign currency is performed in two consecutive stages:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Conversion
of the foreign currency to the entity&#8217;s functional currency (currency of the
main economic environment in which the entity operates); and</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Conversion
to euros of the balances held in the functional currencies of the entities
whose functional currency is not the euro.</font></font><a name="XBRL_TS_6761f697c4d24d9889f2ba1f3_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_c5334e25d3aa4f73ab1633796"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Conversion of the foreign currency to the entity&#8217;s functional
currency</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Transactions denominated in foreign currencies
carried out by the consolidated entities (or entities accounted for using the
equity method) are initially accounted for in their respective currencies. Subsequently,
the monetary balances in foreign currencies are converted to their respective
functional currencies using the exchange rate at the close of the financial
year. In addition,</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Non-monetary
items valued at their historical cost are converted to the functional currency
at the exchange rate applicable on the purchase date.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Non-monetary
items valued at their fair value are converted at the exchange rate in force on
the date on which such fair value was determined.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Income
and expenses are converted at the period&#8217;s average exchange rates for all the
operations carried out during the year. When applying this criterion the BBVA
Group considers whether significant variations have taken place in exchange
rates during the year which, owing to their impact on the statements as a
whole, may require the application of exchange rates as of the date of the
transaction instead of such average exchange rates.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The exchange differences produced when
converting the balances in foreign currency to the functional currency of the
consolidated entities are generally recognized under the heading &quot;Exchange
differences, net&quot; in the consolidated income statements (see Note 41).
However, the exchange differences in non-monetary items, measured at fair
value, are recognized temporarily in consolidated equity under the heading
&#8220;Accumulated other comprehensive income - Items that may be reclassified to
profit or loss - Exchange differences&#8221; in the consolidated balance sheets (see
Note 30).
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Conversion
of functional currencies to euros</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The balances in the financial statements of
consolidated entities whose functional currency is not the euro are converted
to euros as follows:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assets
and liabilities: at the closing spot exchange rates as of the date of each of
the consolidated balance sheets.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Income
and expenses and cash flows are converted by applying the exchange rate
applicable on the date of the transaction, and the average exchange rate for
the financial year may be used, unless it has undergone significant variations.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Equity
items: at the historical exchange rates.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The exchange differences arising from the
conversion to euros of balances in the functional currencies of the
consolidated entities whose functional currency is not the euro are recognized
under the heading &#8220;Accumulated other comprehensive income &#8211; Items that may be
reclassified to profit or loss - Exchange differences&#8221; in the consolidated
balance sheets (Notes 30 and 31 respectively). Meanwhile, the differences
arising from the conversion to euros of the financial statements of entities
accounted for by the equity method are recognized under the heading &quot;
Accumulated other comprehensive income - Items that may be reclassified to
profit or loss - Entities accounted for using the equity method&quot; (Note 30)
until the item to which they relate is derecognized, at which time they are
recognized in the income statement.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The financial statements of companies of
hyperinflationary economies are restated for the effects of changes in prices
before their conversion to euros following the provisions of IAS 29
&quot;Financial information in hyperinflationary economies&quot; (see note
2.2.20). Both these adjustments for inflation and the exchange differences that
arise when converting the financial statements of companies into hyperinflationary
economies are accounted for in Reserves.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the main consolidated balances
in foreign currencies, with reference to the most significant foreign
currencies, is set forth in Appendix VII.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Venezuela</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Local financial statements of the Group
subsidiaries in Venezuela are expressed in Venezuelan Bolivar, and converted
into euros for the consolidated financial statements. As Venezuela is a country
with strong exchange restrictions and has different rates officially published,
since December 31, 2015, the Board of Directors considers that the use of the
Venezuelan official exchanges rates for converting bolivars into euros in
preparing the Consolidated Financial Statements does not reflect the true
picture of the financial statements of the Group and the financial position of
the Group subsidiaries in Venezuela. Therefore, since the year ended December
31, 2015, the exchange rate for converting bolivars into euros is an estimation
taking into account the lack of official data and the evolution of the estimated
inflation in Venezuela. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and 2016, the
impact on the financial statements that would have resulted by applying the
last published official exchange rate instead of the exchange rate estimated by
BBVA Group was not significant.</font></font><a name="XBRL_TS_be89ae6503f04df9872e85dac_bclEnd"></a><a name="XBRL_TS_c5334e25d3aa4f73ab1633796_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-45</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.17&#160;&#160; <a name="XBRL_TS_30ce60116d954408bccb93ff4"></a>Recognition
of income and expenses</font></b></font><a name="XBRL_TS_30ce60116d954408bccb93ff4_bclEnd"></a><a name="XBRL_TS_483edcb49ded4926acc614eac_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_81fe23dd0ae644a5aadf34a30"></a><a name="XBRL_TS_dd4c675ddda54554a0a428d5a"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The most significant policies used
by the BBVA Group to recognize its income and expenses are as follows.</font></font><a name="XBRL_TS_dd4c675ddda54554a0a428d5a_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_c487d0975bb7463c876d8f473"></a><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Interest income and expenses
and similar items:</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As a general rule, </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">interest
income and expenses and similar items are recognized on the basis of their
period of accrual using the effective interest rate method. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">They shall </font></font><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">be</font></font><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> recognized
within the consolidated income statement according to the following criteria,
independently from the financial instruments&#8217; portfolio which generates the
income or expenses:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
interest income past-due before the initial recognition and pending to be
received will form part of the gross carrying amount of the debt instrument.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
interest income accrued after the initial recognition will form part of the
gross carrying amount of the debt instrument until it will be received.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The financial fees and commissions that arise
on the arrangement of loans and advances (basically origination and analysis
fees) are deferred and recognized in the income statement over the expected
life of the loan</font></font><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. From that amount, the transaction costs identified as directly
attributable to the arrangement of the loans and advances will be deducted.
These fees are part of the effective interest rate for the loans and advances. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Once a</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> debt instrument has been impaired, interest income is recognized
applying the effective interest rate used to discount the estimated recoverable
cash flows on the carrying amount of the asset.</font></font><a name="XBRL_TS_c487d0975bb7463c876d8f473_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_f59ca0c3c17b4cc882d91963f"></a><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Income from dividends received:</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Dividends shall be </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">recognized</font></font><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> within the consolidated income statement according
to the following</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">
&nbsp;</font></font><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">criteria,
independently from the financial instruments&#8217; portfolio which generates this
income:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When the
right to receive payment has been declared before the initial recognition and
when the payment is pending to be received, the dividends will not form part of
the gross carrying amount of the equity instrument and will not be recognized
as income. Those dividends are accounted for as financial assets separately
from the net equity instrument.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">If the
right to receive payment is received after the initial recognition, the
dividends from the net equity instruments will be recognized within the
consolidated income statement. If the dividends correspond indubitable to the
profits of the issuer before the date of initial recognition, they will not be
recognized as income but as reduction of the gross carrying amount of the
equity instrument because it represents a partly recuperation of the
investment. Amongst other circumstances, the generation date can be considered
to be prior to the date of initial recognition if the amounts distributed by
the issuer as from the initial recognition are higher than its profits during
the same period.</font></font><a name="XBRL_TS_f59ca0c3c17b4cc882d91963f_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_b2fb2445d5be427c90cdd5ea1"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-46</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Commissions, fees and similar items:</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=ES style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Income
and expenses relating to commissions and similar fees are recognized in the
consolidated income statement using criteria that vary according to the nature
of such items. </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">The most significant items in this connection are:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Those
relating to financial assets and liabilities measured at fair value through
profit or loss, which are recognized when collected/paid.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Those
arising from transactions or services that are provided over a period of time,
which are recognized over the life of these transactions or services.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Those
relating to a singular transaction, which are recognized when this singular
transaction is carried out.</font></font><a name="XBRL_TS_b2fb2445d5be427c90cdd5ea1_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_1f4b63286460434a93d2a6fd9"></a><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Non-financial income and
expenses:</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These are recognized for accounting purposes on an accrual basis.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Deferred
collections and payments:</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These are recognized for accounting purposes at the amount
resulting from discounting the expected cash flows at market rates.</font></font><a name="XBRL_TS_1f4b63286460434a93d2a6fd9_bclEnd"></a><a name="XBRL_TS_81fe23dd0ae644a5aadf34a30_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_5b830e762b324b19820995902"></a><a name="_Toc105933"></a><a name="_Toc376972301"></a><a name="_Toc376949893"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.18&#160;&#160; </font></b></font><a name="XBRL_TS_b63971b431994295a04f92e0b"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">Sales of assets and income from the provision of non-financial
services</font></b></font><a name="XBRL_TS_5b830e762b324b19820995902_bclEnd"></a><a name="XBRL_TS_b63971b431994295a04f92e0b_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_4a58d32adb1f4045a9f00a351"></a><a name="XBRL_TS_3b4d95e01e234533884eaf883"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The heading &#8220;Other operating
income&#8221; in the consolidated income statements includes the proceeds of the
sales of assets and income from the services provided by the Group entities
that are not financial institutions. In the case of the Group, these entities
are mainly real estate and service entities (see Note 42).</font></font><a name="XBRL_TS_3b4d95e01e234533884eaf883_bclEnd"></a><a name="XBRL_TS_4a58d32adb1f4045a9f00a351_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_160b7ee7ce4c44ddacf55831a"></a><a name="_Toc105934"></a><a name="_Toc376972302"></a><a name="_Toc376949894"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.19&#160;&#160; </font></b></font><a name="XBRL_TS_e63231182ac44c7f86e15decc"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">Leases</font></b></font><a name="XBRL_TS_160b7ee7ce4c44ddacf55831a_bclEnd"></a><a name="XBRL_TS_e63231182ac44c7f86e15decc_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_a4aa171f084f4997a31f32b5d"></a><a name="XBRL_TS_8e72531092f24d40b574c270f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Lease contracts are classified as
finance leases from the inception of the transaction if they substantially
transfer all the risks and rewards incidental to ownership of the asset forming
the subject-matter of the contract. Leases other than finance leases are
classified as operating leases.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When the consolidated entities act as the
lessor of an asset under finance leases, the aggregate present values of the
lease payments receivable from the lessee plus the guaranteed residual value
(normally the exercise price of the lessee&#8217;s purchase option on expiration of
the lease agreement) are recognized as financing provided to third parties and,
therefore, are included under the heading &#8220;Loans and receivables&#8221; in the accompanying
consolidated balance sheets (see Note 14).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When the consolidated entities act as lessors
of an asset in operating leases, the acquisition cost of the leased assets is
recognized under &quot;Tangible assets &#8211; Property, plant and equipment &#8211; Other
assets leased out under an operating lease&quot; in the consolidated balance
sheets (see Note 17). These assets are depreciated in line with the criteria
adopted for items of tangible assets for own use, while the income arising from
the lease arrangements is recognized in the consolidated income statements on a
straight-line basis within &quot;Other operating expenses&quot; (see Note 42).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">If a fair value sale and leaseback results in
an operating lease, the profit or loss generated from the sale is recognized in
the consolidated income statement at the time of sale. If such a transaction
gives rise to a finance lease, the corresponding gains or losses are accrued
over the lease period.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The assets
leased out under operating lease contracts to other entities in the Group are
treated in the Consolidated Financial Statements as for own use, and thus
rental expense and income is eliminated in consolidation and the corresponding
depreciation is recognized.</font></font><a name="XBRL_TS_8e72531092f24d40b574c270f_bclEnd"></a><a name="XBRL_TS_a4aa171f084f4997a31f32b5d_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_a2e161a53ac0405c8196d8f2f"></a><a name="_Toc105935"></a><a name="_Toc376949898"></a><a name="_Toc376972306"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.2.20&#160;&#160; </font></b></font><a name="XBRL_TS_a30ecd27b92c40c482ee050cc"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">Entities and branches located in countries with hyperinflationary
economies</font></b></font><a name="XBRL_TS_a2e161a53ac0405c8196d8f2f_bclEnd"></a><a name="XBRL_TS_a30ecd27b92c40c482ee050cc_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_b023d7224d944ec7a074642c5"></a><a name="XBRL_TS_1e507ba856644360af66efca5"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In accordance with the IFRS
criteria, to determine whether an economy has a high inflation rate, the
country's economic situation is examined, analyzing whether certain
circumstances are fulfilled, such as whether the population prefers to keep its
wealth or savings in non-monetary assets or in a relatively stable foreign
currency, whether prices can be set in that currency, whether interest rates,
wages and prices are pegged to a price index or whether the accumulated
inflation rate over three years reaches or exceeds 100%. The fact that any of
these circumstances is fulfilled will not be a decisive factor in considering
an economy hyperinflationary, but it does provide some reasons to consider it
as such. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Argentina</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_74fe5290327842ea9e92ca12e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In 2018,
the Argentinian economy was considered to be hyperinflationary as defined by
the aforementioned criteria. Accordingly, as of December 31, 2018, it was
necessary to adjust the financial statements of the Group's subsidiaries based
in Argentina to correct for the effect of inflation.</font></font><a name="XBRL_CS_74fe5290327842ea9e92ca12e_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_306b709e83184a5b8d41f98e6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Pursuant to
the requirements of IAS 29, the monetary headings (mainly loans and deposits)
have not been re-expressed, while the non-monetary headings (mainly tangible
fixed assets and equity) have been re- expressed in accordance with the change
in the country's Consumer Price Index.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The accumulated historical differences between the re-expressed
costs and the previous costs in the non-monetary headings as of December 31,
2017 were credited to &#8220;Equity&#8221; in the balance sheet, effective on January 1,
2018, while the differences corresponding to 2018, and the re-expression of
results were recognized in the consolidated income statement for 2018 in
accordance with the nature of the income and expenses.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">During the year ended December 31,
2018 there was a reclassification in &#8220;Transfers within total equity&#8221; of the
Consolidated Statements of Changes in Equity between &#8220;Accumulated other
comprehensive income&#8221; and &#8220;Shareholders&#8217; funds &#8211; Retained earnings&#8221; for &#8364;1,096
million, and from &#8220;Non-controlling interest &#8211; Accumulated other comprehensive
income (loss)&#8221; to &#8220;Non-controlling interest &#8211; Other&#8221; for &#8364;540 million in
accordance with IAS 29 and the accounting policy approved by the Group in
relation to the hyperinflation (see Note 1.3).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">During 2018, the increase in the reserves of Group entities
located in Argentina derived from the re-expression for hyperinflation (IAS 29)
amounted to &#8364;703 million, of which &#8364;463 million have been recorded within &#8220;Shareholders&#8217;
funds - Retained earnings&#8221; and &#8364;240 million within &#8220;Minority interests &#8211;
Other&#8221;. Furthermore, during 2018 the decrease in the reserves of Group entities
located in Argentina derived from conversion (IAS 21) amounts to &#8364;-773 million,
of which &#8364;-515 million have been recorded within &#8220;Shareholders&#8217; funds - Retained
earnings&#8221;, and &#8364;-258 million within &#8220;Minority interests &#8211; Other&#8221;. The net
impact of both effects is presented under the caption &#8220;Other increases or (-)
decreases in equity&#8221; in the consolidated Statement of Changes in Equity for the
year ended December 31, 2018. The net loss in the profit attributable to the
parent company of the Group in 2018 derived from the application of IAS 29
amounted to &#8364;209 million. In addition, there is a net loss in the profit
attributable to the parent company of the Group in 2018 derived from the
application of IAS 21 which amounted to &#8364;57 million.</font></font><a name="XBRL_CS_306b709e83184a5b8d41f98e6_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the General Price Index (&#8220;GPI&#8221;) and the inflation
index used as of December 31, 2018 for the inflation restatement of the
financial statements of the Group companies located in Argentina is as follows:</font></font><a name="XBRL_TS_1e507ba856644360af66efca5_bclEnd"></a><a name="XBRL_TS_b023d7224d944ec7a074642c5_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=2 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><u><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General Price
  Index </font></u></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">GPI</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">184</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average GPI</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">152</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Inflation of the
  period</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_9627660c048144b199fcf828b"></a><a name="XBRL_TS_5530a66727ab4a75adfbb1c02"></a><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Venezuela</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Since 2009, the economy of Venezuela can be
considered hyperinflationary under the above criteria. As a result, the
financial statements of the BBVA Group&#8217;s entities located in Venezuela have
therefore been adjusted to correct for the effects of inflation in accordance
with IAS 29 &#8220;Financial Reporting in Hyperinflationary Economies&#8220;. As stated in
Note 1.3, BBVA has restated prior year information in relation to a change in
the accounting policy for applying IAS 29.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The losses recognized under the heading &#8220;Profit attributable to
the parent company&#8221; in the accompanying consolidated income statement as a
result of the adjustment for inflation on net monetary position of the Group
entities in Venezuela amounted to &#8364;<a name="XBRL_CS_0afe2349e2ca4ce089ab1d26d"></a>12<a name="XBRL_CS_0afe2349e2ca4ce089ab1d26d_bclEnd"></a>, &#8364;<a name="XBRL_CS_398279e1937d45ddb68b77ba0"></a>13<a name="XBRL_CS_398279e1937d45ddb68b77ba0_bclEnd"></a> and &#8364;<a name="XBRL_CS_bcff139e4ecb4a5d9de0e65c1"></a>28<a name="XBRL_CS_bcff139e4ecb4a5d9de0e65c1_bclEnd"></a> million in 2018, 2017 and
2016 respectively (see Note 2.2.16).</font></font><a name="XBRL_TS_5530a66727ab4a75adfbb1c02_bclEnd"></a><a name="XBRL_TS_9627660c048144b199fcf828b_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="_Toc376949899"></a><a name="_Toc376972307"></a><a name="XBRL_TS_c15b2f7b37f149538bb9cf5a4"></a><a name="_Toc105936"></a><a name="_Toc512325143"></a><a name="_Toc508358964"></a><a name="_Toc416186906"></a><a name="_Toc413086305"></a></p>
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">2.3&#160;&#160; Recent IFRS pronouncements</font></b></font><a name="XBRL_TS_c15b2f7b37f149538bb9cf5a4_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_0829fb2e31724c258a6e94962"></a><a name="_Toc105937"></a><a name="Nota_2_1_0"></a><a name="Nota_2_1_0_bclEnd"></a><font color=#072146 face=Arial,sans-serif style="border:none;"><u><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;font-weight:normal;">Changes introduced in 2018</font></u></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The following amendments to
the IFRS standards or their interpretations (hereinafter &#8220;IFRIC&#8221;) became
effective on or after January 1, 2018.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:22.7pt;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;text-align:justify;text-indent:-22.7pt;"><a name="XBRL_CS_bed76e562a214418ba785567c"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS 9 - &#8220;Financial instruments&#8221;</font></font><a name="XBRL_CS_bed76e562a214418ba785567c_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRS 9 replaced IAS
39 for financial statements from January 1, 2018 onwards and <a name="XBRL_CS_222450c8b470455c9de4e144b"></a>includes new classification and
measurement requirements for financial assets and liabilities and impairment
requirements for financial assets<a name="XBRL_CS_222450c8b470455c9de4e144b_bclEnd"></a> (see Note 2.2.1).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_9cbc5063746d414e99ea39072"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Regarding
the hedge accounting, the Group has elected to continue applying IAS 39 to its
hedge accounting as permitted by IFRS 9.</font></font><a name="XBRL_CS_9cbc5063746d414e99ea39072_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:22.7pt;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;text-align:justify;text-indent:-22.7pt;"><a name="XBRL_CS_d77ae55d99f94f1e814d4d923"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amended IFRS 9 &#8211; Prepayment Features with Negative Compensation</font></font><a name="XBRL_CS_d77ae55d99f94f1e814d4d923_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_9e71f13a460e4a5494ea39f41"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
amendments to IFRS 9 allow entities to measure certain prepayable financial
assets with negative compensation at amortized cost or at fair value through
other comprehensive income if a specified condition is met, instead of at fair
value through profit or loss. The condition is that the financial asset would
otherwise meet the criteria of having contractual cash flows that are solely
payments of principal and interest but do not meet that condition only as a
result of that prepayment feature.</font></font><a name="XBRL_CS_9e71f13a460e4a5494ea39f41_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_9bb4decc71d041a4ab68aa77e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
amendments should be applied to the accounting periods beginning on or after
January 1, 2019, although early application is permitted. The Group has applied
this amendment to the accounting period beginning on January 1, 2018 and it has
not had a significant impact on the Group&#180;s financial statements.</font></font><a name="XBRL_CS_9bb4decc71d041a4ab68aa77e_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:22.7pt;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;text-indent:-22.7pt;"><a name="XBRL_CS_0c556283abea42668de12f6a5"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amended IFRS 7 - &#8220;Financial
instruments: Disclosures&#8221;</font></font><a name="XBRL_CS_0c556283abea42668de12f6a5_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_f16ccd9b3be34367982d04cba"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The IASB
modified IFRS 7 in December 2011 to include new disclosures on financial
instruments that entities have to provide in the period that they apply IFRS 9
for the first time.</font></font><a name="XBRL_CS_f16ccd9b3be34367982d04cba_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_ccf5c822e57f411db22f8669e"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS 15 - &#8220;Revenue from contracts with customers&#8221;</font></font><a name="XBRL_CS_ccf5c822e57f411db22f8669e_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_ad939f55340f4bf2be9d2e1f3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRS 15
contains the principles that an entity shall apply to account for revenue and
cash flows arising from a contract with a customer (see Note 2.2.17).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The core principle of IFRS 15 is that a company
should recognize revenue to depict the transfer of promised goods or services
to the customer in an amount that reflects the consideration to which the
company expects to be entitled in exchange for those goods or services, in accordance
with contractual agreements (</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">either over time or at a certain time)</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. It is
considered that the good or service is transferred when the customer obtains
control over it.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The new Standard replaces IAS 18 &#8211; Revenue, IAS
11 - Construction Contracts, IFRIC 13 - Customer Loyalty Programmes, IFRIC 15 -
Agreements for the Construction of Real Estate, IFRIC 18 - Transfers of Assets
from Customers and SIC 31 &#8211; Revenue-Transactions Involving Advertising
Services.</font></font><a name="XBRL_CS_ad939f55340f4bf2be9d2e1f3_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_52afd6fa771a42bfa5a4f12e8"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">This standard has not had a significant impact on
the Group's Consolidated Financial Statements.</font></font><a name="XBRL_CS_52afd6fa771a42bfa5a4f12e8_bclEnd"></a><font color=windowtext face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-50</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS 2 &#8211; &#8220;Classification and
Measurement of Share-based Payment Transactions&#8221;</font></font><a name="XBRL_CS_fd773ab93a854b2f9b4724969_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_3dcdd76e1cad4ba6b802ee85b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
amendments made to IFRS 2 provide requirements on three different aspects:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When
measuring the fair value of a cash-settled share-based payment vesting
conditions, other than market conditions, the conditions for the irrevocability
shall be taken into account by adjusting the number of awards included in the
measurement of the liability arising from the transaction.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A transaction
in which an entity settles a share-base payment arrangement net by withholding
a specified portion of the equity instruments to meet a statutory tax
withholding obligation will be classified as equity settled in its entirety if,
without the net settlement feature, the entire share-based payment would
otherwise be classified as equity-settled.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In case
of modification of a share-based payment from cash-settled to equity-settled,
the modification will be accounted for derecognizing the original liability and
recognizing in equity the fair value of the equity instruments granted to the
extent that services have been rendered up to the modification date; any
difference will be recognized immediately in profit or loss.</font></font><a name="XBRL_CS_3dcdd76e1cad4ba6b802ee85b_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_d956a8a82fd949b19a2d49c2a"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">This standard has not had a significant impact on
the Group's Consolidated Financial Statements.</font></font><a name="XBRL_CS_d956a8a82fd949b19a2d49c2a_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_a9b6b832c8f74a6d969dfab7e"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amended IFRS 4 &#8211; &#8220;Insurance Contracts&#8221;</font></font><a name="XBRL_CS_a9b6b832c8f74a6d969dfab7e_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_d906946874e546969e60a7093"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amendments made to IFRS 4
address the temporary accounting consequences of the different effective dates
of IFRS 9 and the forthcoming insurance contracts standard, by introducing two
optional solutions: </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
deferral approach or temporary exemption</font></i></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">, that gives entities whose predominant
activities are connected with insurance the option to defer the application of
IFRS 9 and continue applying IAS 39 until 2021.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
overlay approach</font></i></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">, that gives all issuers of insurance contracts the option to
recognize in other comprehensive income, </font><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">rather&nbsp;</font></i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> than profit or loss, the
additional accounting volatility that may arise from applying IFRS 9 compared
to applying IAS 39 before applying the forthcoming insurance contracts
standard.</font></font><a name="XBRL_CS_d906946874e546969e60a7093_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_cbb60f0bf6e648bebcb95263b"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">This standard has not had a significant impact on
the Group's Consolidated Financial Statements.</font></font><a name="XBRL_CS_cbb60f0bf6e648bebcb95263b_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_bda8f5332bc74c7fae3099769"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Annual improvements cycle to IFRSs 2014-2016 &#8211; Minor amendments to
IFRS 1 and IAS 28</font></font><a name="XBRL_CS_bda8f5332bc74c7fae3099769_bclEnd"></a></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_db3f0ddbb4ed4c3ab4f418cc6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The annual improvements cycle to
IFRSs 2014-2016 includes minor changes and clarifications to IFRS 1- First-time
Adoption of International Financial Reporting Standards and IAS 28 &#8211;
Investments in Associates and Joint Ventures, which should be applied to the
accounting periods beginning on or after January 1, 2018, although early
application was permitted for modifications to IAS 28.</font></font><a name="XBRL_CS_db3f0ddbb4ed4c3ab4f418cc6_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_1357f3f920b949c99ba6b9b6a"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">This standard has not had a significant impact on
the Group's Consolidated Financial Statements.</font></font><a name="XBRL_CS_1357f3f920b949c99ba6b9b6a_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_6d520afeb8164516ad385ffe4"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRIC 22 &#8211; Foreign Currency Transactions and Advance Consideration</font></font><a name="XBRL_CS_6d520afeb8164516ad385ffe4_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_a23be53f9a8d43bcbc1d11f1f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
Interpretation addresses how to determine the date of the transaction, and
thus, the exchange rate to use to translate the related asset, expense or
income on initial recognition, in circumstances in which a non-monetary prepayment
asset or a non-monetary deferred income liability arising from the payment or
receipt of advance consideration is recognized in advance of the related asset,
income or expense. It requires that the date of the transaction will be the
date on which an entity initially recognizes the non-monetary asset or
non-monetary liability.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-51</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">If there
are multiple payments or receipts in advance, the entity shall determine a date
of the transaction for each payment or receipt of advance consideration.</font></font><a name="XBRL_CS_a23be53f9a8d43bcbc1d11f1f_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_0c66d14b3aa94fd29111c185c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This standard
has not had a significant impact on the Group's consolidated financial
statements.</font></font><a name="XBRL_CS_0c66d14b3aa94fd29111c185c_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_c283b4f65c99479d948e18d0c"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amended IAS 40 &#8211; Investment Property</font></font><a name="XBRL_CS_c283b4f65c99479d948e18d0c_bclEnd"></a></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_2adb14e046d840b484a617fc7"></a><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
amendment states that an entity shall transfer a property to, or from,
investment property when, and only when, there is evidence of a change in use.
A change in use occurs when the property meets, or ceases to meet, the
definition of investment property.</font></font><a name="XBRL_CS_2adb14e046d840b484a617fc7_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_f8a7af0dee344eb9b36a84158"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">This standard has not had a significant impact on
the Group's financial statements.</font></font><a name="XBRL_CS_f8a7af0dee344eb9b36a84158_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc105938"></a><font color=#072146 face=Arial,sans-serif style="border:none;"><u><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;font-weight:normal;">Standards and interpretations issued but not
yet effective as of December 31, 2018</font></u></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The following new
International Financial Reporting Standards together with their interpretations
had been published at the date of preparation of the accompanying consolidated
financial statements, but are not mandatory as of December 31, 2018. Although
in some cases the IASB allows early adoption before their effective date, the
BBVA Group has not proceeded with this option for any such new standards.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_9a42e84652ca4d19b47470298"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amended IFRS 10 &#8211; &#8220;Consolidated financial statements&#8221; and IAS 28 amended</font></font><a name="XBRL_CS_9a42e84652ca4d19b47470298_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_9dc439f841d3498788956bd53"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amendments to IFRS 10 and IAS
28 establish that when an entity sells or transfers assets which are considered
a business (including its consolidated subsidiaries) to an associate or joint
venture of the entity, the latter will have to recognize any gains or losses
derived from such transaction in its entirety. Notwithstanding, if the assets
sold or transferred are not considered a business, the entity will have to
recognize the gains or losses derived only to the extent of the interests in
the associate or joint venture with unrelated investors.</font></font><a name="XBRL_CS_9dc439f841d3498788956bd53_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_48f3d230644b4638842835dae"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These changes will be applicable to
accounting periods beginning on the effective date, still to be determined,
although early adoption is allowed.</font></font><a name="XBRL_CS_48f3d230644b4638842835dae_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_492a048a56164056a9d5f2906"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS 16 &#8211; &#8220;Leases&#8221;</font></font><a name="XBRL_CS_492a048a56164056a9d5f2906_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_ca3d1a28710e439780659bfaa"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On January 13, 2016, the
IASB issued IFRS 16 which will replace IAS 17 &#8220;Leases&#8221; for financial statements
from January 1, 2019 onwards. The new standard introduces a single lessee
accounting model and will require a lessee to recognize assets and liabilities
for all leases. The only exceptions are short-term contracts and those in which
the underlying assets have low value. A lessee will be required to recognize a
right-of-use asset representing its right to use the underlying leased asset
and a lease liability representing its obligation to make lease payments.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With
regard to lessor accounting, IFRS 16 substantially carries forward the lessor
accounting requirements in IAS 17. Accordingly, a lessor will continue to
classify its leases as operating leases or finance leases, and account for
those two types of leases differently.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">During the financial years 2017 and 2018 the Group has carried out
a project to implement IFRS 16 with the participation of all affected areas.
The standard will mainly affect the accounting of operating leases of the Group.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-52</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_335"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With regard to the estimated impact
on the Consolidated Financial Statements, at the transition date, the Group has
decided to apply the modified retrospective approach which requires recognition
of a lease liability equal to the present value of the future payments
committed on January 1, 2019. Regarding the measurement of the right-of-use
asset, the Group has elected to record an amount equal to the lease liability.
As a result of this approach, the Group expects to recognize assets for the
right-of-use and lease liabilities for an approximate amount of 3,600 million
euros mainly coming from the Group&#8217;s activity in Spain as well as from bank
branches leases. The estimated impact in terms of capital (CET1) for the Group
amounts to -12 basis points.</font></font><a name="XBRL_CS_ca3d1a28710e439780659bfaa_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_e49454e6a7d94f2c805bf4de4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The final impact of adopting
the standard as of January 1, 2019 may change because:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">the
Group has not concluded the tests;</font></font></p>

<p style="border:none;margin-bottom:8.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:107%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:107%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">the new
accounting policies, methodologies and parameters may be subject to changes
until the Group</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">presents</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;"> its financial statements
that include the final impact as of the date of initial application.</font></font><a name="XBRL_CS_e49454e6a7d94f2c805bf4de4_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_bcae0e9c550c462db2fe76e38"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS 17 &#8211; Insurance Contracts</font></font><a name="XBRL_CS_bcae0e9c550c462db2fe76e38_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_6bcb94e62b9b45d2b73f43980"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRS 17 establishes the
principles for the accounting for insurance contracts and supersedes IFRS 4.
The new standard introduces a single accounting model for all insurance
contracts and requires the entities to use updated assumptions.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">An
entity shall divide the contracts into groups and recognize and measure groups
of insurance contracts at the total of:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">the
fulfilment cash flows, that comprises the estimate of future cash flows, an
adjustment to reflect the time value of money and the financial risk associated
with the future cash flows and a risk adjustment for non-financial risk; and</font></font></p>

<p style="border:none;margin-bottom:8.0pt;margin-left:37.5pt;margin-right:0cm;margin-top:0cm;text-indent:-18.75pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:107%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:107%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">the
contractual service margin that represents the unearned profit.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
amounts recognized in the consolidated income statement shall be disaggregated
into insurance revenue, insurance service expenses and insurance finance income
or expenses. Insurance revenue and insurance service expenses shall exclude any
investment components. Insurance revenue shall be recognized over the period
the entity provides insurance coverage and in proportion to the value of the
provision of coverage that the insurer provides in the period.</font></font><a name="XBRL_CS_6bcb94e62b9b45d2b73f43980_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_7b7a231c3e04490cbf2b1b70e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This Standard will be
applied to the accounting years starting on or after January 1, 2021.</font></font><a name="XBRL_CS_7b7a231c3e04490cbf2b1b70e_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_a5194385e3764cd3b26a86d43"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRIC 23 - Uncertainty over Income Tax Treatments</font></font><a name="XBRL_CS_a5194385e3764cd3b26a86d43_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_33f0056c68984018903e4bd0d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRIC 23 provides guidance
on how to apply the recognition and measurement requirements in IAS 12 when
there is uncertainty over income tax treatments. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">If
the entity considers that it is probable that the taxation authority will
accept an uncertain tax treatment, the Interpretation requires the entity to
determine taxable profit (tax loss), tax bases, unused tax losses, unused tax
credits or tax rates consistently with the tax treatment used or planned to be
used in its income tax filings.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-53</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_336"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">If the entity considers that it is not probable that the taxation
authority will accept an uncertain tax treatment, the Interpretation requires
the entity to use the most likely amount or the expected value (sum of the
probability. weighted amounts in a range of possible outcomes) in determining
taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and
tax rates. The method used should be the method that the entity expects to
provide the better prediction of the resolution of the uncertainty.</font></font><a name="XBRL_CS_33f0056c68984018903e4bd0d_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_73589cb109904d8085fa809b9"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The interpretation will be
applied to the accounting periods beginning on or after January 1, 2019.</font></font><a name="XBRL_CS_73589cb109904d8085fa809b9_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_1c8981d8f73549ef9b564e3bc"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amended IAS 28 &#8211; Long-term Interests in Associates and Joint
Ventures</font></font><a name="XBRL_CS_1c8981d8f73549ef9b564e3bc_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_aaf9ebe18df648f88aa2fd315"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amendments to IAS 28
clarify that an entity is required to apply IFRS 9 to long term interests in an
associate or joint venture that, in substance, form part of the net investment
in the associate or joint venture but to which the equity method is not
applied.</font></font><a name="XBRL_CS_aaf9ebe18df648f88aa2fd315_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_0db1655ff8664be29c64e508d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amendments will be
applied to the accounting periods beginning on or after January 1, 2019.</font></font><a name="XBRL_CS_0db1655ff8664be29c64e508d_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_c34d59ef1f714e048059bfcc7"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Annual improvements cycle to IFRSs 2015-2017</font></font><a name="XBRL_CS_c34d59ef1f714e048059bfcc7_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_5aa5f97fb98545f8bc8d591ab"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The annual improvements
cycle to IFRSs 2015-2017 includes minor changes and clarifications to IFRS 3-
Business Combinations, IFRS 11 &#8211; Joint Arrangements, IAS 12 &#8211; Income Taxes and
IAS 23 &#8211; Borrowing Costs, which will be applied to the accounting periods
beginning on or after January 1, 2019, although early application is permitted.</font></font><a name="XBRL_CS_5aa5f97fb98545f8bc8d591ab_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_f7c11b9f2d5c42ee8827a9be4"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amended IAS 19 &#8211; Plan Amendment, Curtailment or Settlement</font></font><a name="XBRL_CS_f7c11b9f2d5c42ee8827a9be4_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_061a8d1515bd4bebad22a591e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The small amendments in IAS
19 concern the cases if a plan is amended, curtailed or settled during the
period. In these cases, an entity should ensure that the current service cost
and the net interest for the period after the remeasurement are determined
using the assumptions used for the remeasurement. In addition, amendments have
been included to clarify the effect of a plan amendment, curtailment or
settlement on the requirements regarding the asset ceiling.</font></font><a name="XBRL_CS_061a8d1515bd4bebad22a591e_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_3993fe05b9044796aed410a43"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amendments will be applied
to the accounting periods beginning on or after January 1, 2019.</font></font><a name="XBRL_CS_3993fe05b9044796aed410a43_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_63c8dce287324801b7adbc96b"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amended IFRS 3 &#8211; Definition of a business</font></font><a name="XBRL_CS_63c8dce287324801b7adbc96b_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_83fa733374d642fea90802de3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
amendments clarify the difference between the acquisition of a business or the
acquisition of a set of assets. To determine whether a transaction is an
acquisition of a business, an entity should evaluate and conclude if the two
following conditions are fulfilled:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.4pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">the fair
value of the acquired assets is not concentrated in one single asset or group
of similar assets.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:37.4pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">the
entirety of acquired activities and assets includes, as a minimum, an input and
a substantial process which, together, contribute to the capacity to create
products.</font></font><a name="XBRL_CS_83fa733374d642fea90802de3_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_49ab666abcfa4726b5a74f2e7"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The amendments will be applied to the accounting
periods beginning on or after January 1, 2020, although early application is
permitted.</font></font><a name="XBRL_CS_49ab666abcfa4726b5a74f2e7_bclEnd"></a><font color=windowtext face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amended IAS 1 and IAS 8 &#8211;
Definition of material</font></font><a name="XBRL_CS_2a8a1e6eb6d34aa99b1fa7d13_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_efcd6276f06e402baa44d8b6c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
amendments clarify the definition of material in the elaboration of the
financial statements by aligning the definition of the conceptual framework,
IAS 1 and IAS 8 (which, before the amendments, included similar but not
identical definitions). The new definition of material is the following:
&#8220;Information is material if omitting, misstating or obscuring it could
reasonably be expected to influence decisions that the primary users of general
purpose financial statements make on the basis of those financial statements,
which provide financial information about a specific reporting entity&#8221;.</font></font><a name="XBRL_CS_efcd6276f06e402baa44d8b6c_bclEnd"></a></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_eb210a1a31644e2c8327735f0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amendments will be
applied to the accounting periods beginning on or after January 1, 2020,
although early application is permitted.</font></font><a name="_Toc105939"></a><a name="_Toc105940"></a><a name="XBRL_CS_eb210a1a31644e2c8327735f0_bclEnd"></a><a name="XBRL_TS_0829fb2e31724c258a6e94962_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_97ae1272ec484e4b9493ff366"></a><a name="_Toc105941"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">2.4&#160;&#160;&#160;
Transition to IFRS 9 and condensed consolidated opening balance sheet as of
January 1, 2018</font></b></font><a name="XBRL_TS_97ae1272ec484e4b9493ff366_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_4ee7b748981444148b35bb48c"></a><a name="_Toc105942"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.4.1&#160;&#160; Transition to IFRS 9</font></b></font><a name="XBRL_TS_4ee7b748981444148b35bb48c_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_f58cca40778b45c3b0085b423"></a><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As mentioned in the
Notes 1.3, 2.2.1 and 2.3, IFRS 9 replaced IAS 39 for financial statements from
January 1, 2018 onwards and includes new classification and measurement
requirements for financial assets and liabilities, impairment requirements for
financial assets and hedge accounting policy.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The application of this standard
on January 1, 2018, had a significant impact on the consolidated financial
statements of the Group at that date.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#006EC1 face=Arial,sans-serif style="border:none;"><b><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Classification and
measurement of financial instruments</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial assets</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRS 9 has a new approach to
classification and measurement of financial assets which is a mirror of the
business model used for asset management purposes and its cash flow
characteristics. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRS 9 contains three main categories for
financial assets classification: valued at amortized cost, valued at fair value
with changes in other accumulated comprehensive income, and valued at fair
value through profit or loss. The standard eliminates the IAS 39 categories of
held-to-maturity investments, loans and receivables, and available-for-sale
financial assets.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The classification of financial instruments
measured at amortized cost or fair value must be carried out on the basis of:
the entity's business model and the assessment of the contractual cash flow,
commonly known as the &quot;solely payments of principle and interest&quot;
criterion (hereinafter, the SPPI). The purpose of the SPPI test is to determine
whether in accordance with the contractual characteristics of the instrument
its cash flows only represent the return of the principal and interest,
basically understood as consideration for the time value of money and the
debtor's credit risk.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A financial
instrument will be classified in the amortized cost portfolio when it is
managed with a business model whose purpose is to maintain the financial assets
to receive contractual cash flows, and passes the SPPI test. They will be
classified in the portfolio of financial assets at fair value with changes in
other comprehensive income if they are managed with a business model whose
purpose combines collection of the contractual cash flows and sale of the
assets, and meets the SPPI test. They will be classified at fair value with
changes in profit and loss provided that the entity's business model for their
management or the contractual characteristics of its cash flows do not require
classification into one of the portfolios described above.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group reviewed the existing business models
in the geographic areas where it operates to establish classification in
accordance with IFRS 9, taking into account the special characteristics of the
local structures and organizations, as well as the type of products.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group has defined criteria to determine the
acceptable frequency and reasons for sales so that the instrument can remain in
the category of held to collect contractual cash flows.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Regardless of the frequency and importance of
the sales, some types of sales are not incompatible with the category of held
to collect contractual flows: sales due to reduction in credit quality; sales
close to the maturity of transactions so that variations in market prices will
not have a significant effect on the cash flows of the financial asset; sales
in response to a change in regulations or in taxation; sales in response to an
internal restructuring or significant business combination; sales derived from
the execution of a liquidity crisis plan when the crisis event is not
reasonably foreseeable.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group segmented the portfolio of
instruments for carrying out the SPPI test by differentiating products with
standard contracts (all the instruments have identical contractual
characteristics and are broadly used), for which the Group has carried out the
SPPI test by reviewing the standard framework contract. For those products with
similar, but not identical characteristics compliance has been assessed through
a sampling exercise of contracts. All the financial instruments with specific
contractual characteristics have been analyzed individually.&#160; </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As a result of the analyses carried out on both
the business model and the contractual characteristics, certain accounting reclassifications
resulted affecting both financial assets and, as the case may be, financial
liabilities related to those assets. In general, there is a greater volume of
assets valued at fair value with changes in the income statement and the
valuation method of some instruments has also been changed according to the one
that best reflects the business model to which they belong. Changes in the
valuation model to avoid exceeding the criterion of solely payment of principal
and interest are not significant.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2017, the Group had certain
investments in financial instruments classified as available-for-sale which, in
accordance with IFRS 9, the Group designated as financial assets at fair value
through other comprehensive income. As a result, all the gains and losses at
fair value of these instruments are now reported in accumulated other
comprehensive income. Impairment losses would not be recognized to profit and
loss, and gains or losses would not be reclassified to the income statement in
the case of divestment. The remaining investments held by the Group as of
December 31, 2017 in equity instruments classified as available-for-sale are
now accounted for as fair value through changes in profit or loss.
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial liabilities</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRS 9 largely maintains the requirements under
IAS 39 for classifying financial liabilities. However, a new aspect introduced
by IFRS 9 is the recognition of changes in the fair value of the financial
liabilities to which the fair value option is applied. In this case, the changes
in the fair value attributable to the credit risk itself are recognized as
other comprehensive income, while the rest of the variation is recognized in
the income statement. In any case, the variation of credit risk itself may be
recognized in the income statement if the treatment described above generates
accounting asymmetry.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font color=#006EC1 face=Arial,sans-serif style="border:none;"><b><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial assets impairments</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRS 9 replaced the &quot;incurred loss&quot;
model in IAS 39 with one of &quot;expected credit loss&quot;. The IFRS 9
impairment model is applied to financial assets valued at amortized cost and to
financial assets valued at fair value through other comprehensive income,
except for investments in equity instruments and contracts for financial
guarantees and loan commitments </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">unilaterally revocable by BBVA. Likewise, all the financial
instruments valued at fair value with change through profit and loss are
excluded from the impairment model</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The new standard classifies financial
instruments into three categories, which depend on the evolution of their
credit risk from the moment of initial recognition. The first category includes
the transactions when they are initially recognized (Stage 1); the second
comprises the financial assets for which a significant increase in credit risk
has been identified since its initial recognition (Stage 2) and the third one,
the impaired financial assets (Stage 3).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The calculation of the provisions for credit
risk in each of these three categories must be done differently. In this way,
expected loss up to 12 months for the financial assets classified in the first
of the aforementioned categories must be recorded, while expected losses
estimated for the remaining life of the financial assets classified in the
other two categories must be recorded. Thus, IFRS 9 differentiates between the
following concepts of expected loss: </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Expected loss at 12 months: expected credit loss that arises from
possible default events within&#160; 12&#160; months following the presentation date of
the financial statements; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Expected loss during the life of the transaction: this is the
expected credit loss that arises from all possible default events over the
remaining life of the financial instrument.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">All this requires considerable judgment, both
in the modeling for the estimation of the expected losses and in the forecasts,
on how the economic factors affect such losses, which must be carried out on a
weighted probability basis.
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA
Group has applied the following definitions in accordance with IFRS 9:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Default</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA has applied a definition of default for
financial instruments that is consistent with that used in internal credit risk
management, as well as the indicators under applicable regulation at the date
of implementation of IFRS 9. Both qualitative and quantitative indicators have
been considered.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group has considered there is a default
when one of the following situations occurs: </font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- payment past-due for more
than 90 days; or</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- there are reasonable
doubts regarding the full reimbursement of the instrument.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In accordance with IFRS 9, the 90-day past-due
stipulation may be waived in cases where the entity considers it appropriate,
based on reasonable and documented information that it is appropriate to use a
longer term. As of December 31, 2018, the Group has not considered periods
higher than 90 days for any of the significant portfolios.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Credit impaired asset</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">An asset is credit-impaired according to IFRS 9
if one or more events have occurred and they have a detrimental impact on the
estimated future cash flows of the asset. Evidence that a financial asset is credit-impaired
includes observable data about the following events:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Significant financial
difficulty of the issuer or the borrower.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- A breach of contract (e.g.
a default or past due event).</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- A lender having granted a
concession to the borrower &#8211; for economic or contractual reasons relating to
the borrower&#8217;s financial difficulty &#8211; that the lender would not otherwise
consider.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- It becoming probable that
the borrower will enter bankruptcy or other financial reorganization.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- The disappearance of an
active market for that financial asset because of financial difficulties.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- The purchase or
origination of a financial asset at a deep discount that reflects the incurred
credit losses.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">It may not be possible to identify a single
discrete event. Instead, the combined effect of several events may cause
financial assets to become credit-impaired.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The definition of impaired financial assets in
the Group is aligned with the definition of default explained in the above
paragraphs.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Significant increase in credit risk </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The objective of the impairment requirements is
to recognize lifetime expected credit losses for financial instruments for
which there have been significant increases in credit risk since initial
recognition considering all reasonable and supportable information, including
that which is forward-looking.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The model
developed by the Group for assessing the significant increase in credit risk
has a two-prong approach that is applied globally, although the specific
characteristics of each geographic area are respected:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Quantitative criterion:
the Group uses a quantitative analysis based on comparing the current expected
probability of default over the life of the transaction with the original
adjusted expected probability of default, so that both values are comparable in
terms of expected default probability for their residual life. The thresholds
used for considering a significant increase in risk take into account special
cases according to geographic areas and portfolios. Depending on how old
current financial assets are, at the time implementation of the standard, some
simplification has been made to compare the probabilities of default between
the current and the original moment, based on the best information available at
that moment.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Qualitative criterion:
most indicators for detecting significant risk increase are included in the
Group's systems through rating/scoring systems or macroeconomic scenarios, so
quantitative analysis covers the majority of circumstances. The Group will use
additional qualitative criteria when it considers it necessary to include
circumstances that are not reflected in the rating/score systems or
macroeconomic scenarios used. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Additionally, instruments under one of the
following circumstances are considered Stage 2:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- More than 30 days past
due. According to IFRS 9, default of more than 30 days is a presumption that
can be rebutted in those cases in which the entity considers, based on
reasonable and documented information, that such non-payment does not represent
a significant increase in risk. As of December 31, 2018, the Group has not
considered periods superior to 30 days for any of the significant portfolios.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Watch list: They are
subject to special watch by the Risks units because they show negative signs in
their credit quality, even though there may be no objective evidence of
impairment.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Refinance or restructuring
that does not show evidence of impairment.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Although the standard introduces a series of
operational simplifications or practical solutions for analyzing the increase
in significant risk, the Group does not expect to use them as a general rule.
However, for high-quality assets, mainly related to certain government
institutions and bodies, the standard allows for considering that their credit
risk has not increased significantly because they have a low credit risk at the
presentation date.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Thus the classification of financial
instruments subject to impairment under the new IFRS 9 is as follows:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Stage 1&#8211; without significant increase in credit risk</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial
assets which are not considered to have significantly increased in credit risk
have loss allowances measured at an amount equal to 12 months expected credit
losses.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Stage 2&#8211; significant increases in credit risk</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When the
credit risk of a financial asset has increased significantly since the initial
recognition, the impairment losses of that financial instrument is calculated
as the expected credit loss during the entire life of the asset.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=ES style="font-size:10.0pt;line-height:115%;">&#183;</font><font face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">Stage 3 - Impaired</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When there
is objective evidence that the instrument is credit impaired, the financial
asset is transferred to this category </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">in which the provision for losses of that financial instrument is
calculated as the expected credit loss </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">during the entire life of the
asset.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Method for calculating expected
loss</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In accordance with IFRS 9, the measurement of
expected losses must reflect:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A
considered and unbiased amount, determined by evaluating a range of possible
results.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The time
value of money.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Reasonable
and supportable information that is available without undue cost or effort and
that reflects current conditions and forecasts of future economic conditions. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group measures the expected losses both
individually and collectively. The purpose of the Group's individual
measurement is to estimate expected losses for significant impaired
instruments, or instruments classified in Stage 2. In these cases, the amount
of credit losses is calculated as the difference between expected discounted
cash flows at the effective interest rate of the transaction and the carrying
amount of the instrument. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">For the collective measurement of expected
losses the instruments are grouped into groups of assets based on their risk
characteristics. Exposure within each group is segmented according to the
common credit risk characteristics, similar characteristics of the credit risk,
indicative of the payment capacity of the borrower in accordance with their
contractual conditions. These risk characteristics have to be relevant in
estimating the future flows of each group. The characteristics of credit risk
may consider, among others, the following factors:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Type of
instrument.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Rating or
scoring tools.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Credit risk
scoring or rating.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Type of
collateral.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Amount of
time at default for stage 3.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Segment.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Qualitative
criteria which can have a significant increase in risk.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Collateral
value if it has an impact on the probability of a default event.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
estimated losses are derived from the following parameters:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">PD:
estimate of the probability of default in each period.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">EAD:
estimate of the exposure in case of default at each future period, taking into
account the changes in exposure after the presentation date of the financial
statements. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.7pt;"><font color=#00B0F0 face=Symbol style="border:none;"><font color=#00B0F0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#00B0F0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">LGD:&#160;
estimate of the loss in case of default, calculated as the difference between
the contractual cash flows and receivables, including guarantees. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the case of debt securities, the Group
supervises the changes in credit risk through monitoring the external published
credit ratings.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-60</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_343"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">To
determine whether there is a significant increase in credit risk that is not
reflected in the published ratings, the Group has also revised the changes in
bond yields, and when they are available, the prices of CDS, together with the
news and regulatory information available on the issuers.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Use of present, past and future
information</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRS 9 requires incorporation of present, past
and future information to detect any significant increase in risk and measure
expected loss.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The standard does not require identification of
all possible scenarios for measuring expected loss. However, the probability of
a loss event occurring and the probability it will not occur will also have to
be considered, even though the possibility of a loss may be very small. Also,
when there is no linear relation between the different future economic
scenarios and their associated expected losses, more than one future economic
scenario must be used for the measurement.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The approach used by the Group consists of using first the most
probable scenario (baseline scenario) consistent with that used in the Group's
internal management processes, and then applying an additional adjustment,
calculated by considering the weighted average of expected losses in other
economic scenarios (one more positive and the other more negative). The main
macroeconomic variables that are valued in each of the scenarios for each of
the geographies in which the Group operates are GDP, tax rates, unemployment
rate and LTV.</font></font><a name="XBRL_TS_f58cca40778b45c3b0085b423_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_66a020e6ad3043eeaf1de163b"></a><a name="_Toc105943"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">2.4.2&#160;&#160; Condensed consolidated opening balance sheet as of January
1, 2018</font></b></font><a name="XBRL_TS_66a020e6ad3043eeaf1de163b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td nowrap width=40% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Condensed
  Consolidated balance sheets (Millions of Euros)</font></b></font></p>
  </td>
 <td nowrap width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">ASSETS</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2017 IAS 39</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Classification and measurement of financial instruments</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Impairment</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Opening balance sheet 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Cash, cash balances
  at central banks and other demand deposits</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">42,680</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">42,680</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">64,695</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27,159</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">91,854</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160;
  Derivatives</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">35,265</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">35,265</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Equity
  instruments</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,801</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">48</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,849</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Debt
  securities</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22,573</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22,573</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to central banks</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">245</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">245</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to credit institutions</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14,895</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14,895</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160; &#160;&#160;&#160;Loans and
  advances to customers</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">56</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11,970</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12,026</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=40% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Non-trading financial
  assets mandatorily at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=15% style="background:silver;height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,451</font></font></p>
  </td>
 <td nowrap width=15% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,451</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets
  designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,709</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,690)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,019</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets at
  fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=15% style="background:silver;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">62,107</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">62,115</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Equity
  instruments</font></i></font></p>
  </td>
 <td nowrap width=15% style="background:silver;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,761</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,761</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Debt
  securities</font></i></font></p>
  </td>
 <td nowrap width=15% style="background:silver;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">59,293</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">59,301</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances</font></i></font></p>
  </td>
 <td nowrap width=15% style="background:silver;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">140</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">140</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Available for sale
  financial assets</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">69,476</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(69,476)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="background:silver;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets at amortized
  cost</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">431,521</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(8,680)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,158)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">421,685</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Debt
  securities</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10,339</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19,623</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">29,959</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to central banks</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,300</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(245)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,055</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to credit institutions</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26,261</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(15,622)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10,661</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Loans and
  advances to customers</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">387,621</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(12,435)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,177)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">374,009</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Held to maturity
  investments</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13,754</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(13,754)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="background:silver;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Hedging derivatives </font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,485</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,485</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=40% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  the hedged items in portfolio hedges of interest rate risk</font></font></p>
  </td>
 <td nowrap width=15% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=15% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(25)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Joint ventures,
  associates and unconsolidated subsidiaries</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,588</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,589</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Insurance and
  reinsurance assets</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">421</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">421</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Tangible assets</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,191</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,191</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Intangible assets </font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,464</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,464</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Tax assets</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16,888</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">400</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17,296</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other assets </font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,359</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,359</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Non-current assets
  and disposal groups held for sale </font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23,853</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23,832</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=40% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">TOTAL ASSETS</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">690,059</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">125</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(770)</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">689,414</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_fa308d268b204b0c95c3511e9"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-61</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_344"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The change registered in the heading &#8220;Financial assets held for
trading&#8221; is mainly due </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">to financial assets affected by the activity of
Global Markets, which are reclassified from &quot;Financial assets at amortized
cost&quot;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The change registered in the heading &quot;Available for sale
financial assets&quot; are mainly due to the reclassification to the new
heading &quot;Financial assets at fair value through other comprehensive
income&quot;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The change registered in the heading &#8220;Financial assets at
amortized cost&#8221; is mainly due </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">to the reclassification to the item
&quot;Financial assets held for trading&quot;.</font></font><a name="XBRL_TS_fa308d268b204b0c95c3511e9_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:36.0pt;">
  <td width=40% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">LIABILITIES AND
  EQUITY</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2017 IAS 39</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Classification and measurement of financial instruments</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Impairment</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Opening balance sheet 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  held for trading </font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46,182</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">34,601</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">80,783</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  designated at fair value through profit or loss </font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,222</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,273</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,495</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  at amortized cost </font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">543,713</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(37,595)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">506,118</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Deposits
  from central banks</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">37,054</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(3,261)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">33,793</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Deposits
  from credit institutions</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">54,516</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(19,381)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">35,135</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Customer
  Deposits</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">376,379</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(12,690)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">363,689</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Debt
  certificates</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">63,915</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2,266)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">61,649</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160; Other
  financial liabilities</font></i></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11,850</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11,851</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Hedging derivatives</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,880</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(112)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,768</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=40% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  the hedged items in portfolio hedges of interest rate risk</font></font></p>
  </td>
 <td nowrap width=15% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=15% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(7)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Liabilities under
  insurance and reinsurance contracts </font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9,223</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9,223</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Provisions</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,477</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">125</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,602</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Tax liabilities </font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,298</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(24)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,291</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Share capital
  repayable on demand</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other liabilities </font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,550</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,550</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Liabilities included
  in disposal groups classified as held for sale</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17,197</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17,188</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=40% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">TOTAL
  LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">636,736</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">142</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">132</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">637,010</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">SHAREHOLDERS&#8217; FUNDS</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">53,283</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">71</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(923)</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">52,432</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Capital</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,267</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,267</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Share premium</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23,992</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23,992</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Equity instruments
  issued other than capital</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other equity</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">54</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">54</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Retained earnings</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23,612</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">71</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(923)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22,760</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Revaluation reserves</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other reserves</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(35)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(35)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Less: Treasury shares</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(96)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(96)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Profit or loss
  attributable to owners of the parent</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,519</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,519</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Less: Interim
  dividends</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,043)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,043)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=40% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">ACCUMULATED OTHER
  COMPREHENSIVE INCOME (LOSS)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(6,939)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(109)</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(7,036)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">MINORITY INTERESTS
  (NON-CONTROLLING INTEREST)</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,979</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,008</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=40% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">TOTAL EQUITY</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">53,323</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(17)</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(902)</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">52,404</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=40% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">TOTAL EQUITY AND
  TOTAL LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">690,059</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">125</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(770)</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">689,414</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_506f6bb860ae4d5c8af392750"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The change
registered in the heading &#8220;Financial liabilities held for trading&#8221; is mainly </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">due
to financial liabilities affected by the activity of Global Markets, which are
reclassified from &quot;Financial liabilities at amortized cost&quot;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The change registered in the heading &#8220;Financial liabilities at
amortized cost&#8221; is mainly </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">due to the reclassification to
&quot;Liabilities held for trading&quot;.</font></font><a name="XBRL_TS_506f6bb860ae4d5c8af392750_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-62</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_345"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="_Toc298431703"></a><a name="_Toc299029438"></a><a name="_Toc299031521"></a><a name="_Toc299032860"></a><a name="_Toc331260301"></a><a name="_Toc347755839"></a><a name="_Toc376949902"></a><a name="XBRL_TS_891b7c6bba5944cea9bed3f65"></a><a name="_Toc105944"></a><a name="_Toc505355936"></a><a name="_Toc495478117"></a><a name="_Toc481589065"></a><a name="_Toc457490010"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">3.&#160;&#160;&#160;
BBVA Group</font></b></font><a name="XBRL_TS_891b7c6bba5944cea9bed3f65_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_e771c9c5d31d4be6bbdd0d148"></a><a name="XBRL_CS_8f0952dcc45b46699b6b50580"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The BBVA Group is an international diversified financial group
with a </font></font><a name="XBRL_CS_46b4454d1f0343d6804808f3e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">significant presence in
retail banking, wholesale banking, asset management and private banking</font></font><a name="XBRL_CS_46b4454d1f0343d6804808f3e_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">. The Group also operates in other sectors such
as insurance, real estate, operational leasing, etc.</font></font><a name="XBRL_CS_8f0952dcc45b46699b6b50580_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The following information is detailed in the Appendices of the
Consolidated Financial Statements of the Group:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Appendix
I shows relevant information related to the consolidated subsidiaries and
structured entities.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Appendix
II shows relevant information related to investments in subsidiaries, joint
ventures and associates accounted for using the equity method. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Appendix
III shows the main changes and notification of investments and divestments in
the BBVA Group.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Appendix
IV shows fully consolidated subsidiaries with more than 10% owned by non-Group
shareholders.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The following table sets forth information related to the Group&#8217;s
total assets as of December 31, 2018, 2017 and 2016, broken down by the Group&#8217;s
entities according to their activity:</font></font><a name="XBRL_TS_e771c9c5d31d4be6bbdd0d148_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Contribution to
  Consolidated Group Total Assets. Entities by Main Activities (Millions of
  euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=57% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Banks and other
  financial services</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">647,164</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">659,414</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">699,592</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=57% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Insurance and pension
  fund managing companies</font></font></p>
  </td>
 <td nowrap width=10% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,732</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,134</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,831</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other non-financial
  services</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,793</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,511</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,433</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">676,689</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">690,059</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">731,856</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_918b3de4959c416e9dfa4586b"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The total assets and results of operations broken
down by the geographical areas, in which the BBVA Group operates, are included
in Note 6.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><a name="XBRL_CS_537946eb6a504006b21859ee6"></a><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The BBVA Group&#8217;s activities are mainly located in
Spain, Mexico, South America, the United States and</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Turkey, with
active presence in other countries</font></font><a name="XBRL_CS_537946eb6a504006b21859ee6_bclEnd"></a><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">, as shown below:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=ES style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Spain</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The Group&#8217;s activity in
Spain is mainly through Banco Bilbao Vizcaya Argentaria, S.A., which is the
parent company of the BBVA Group. The Group also has other entities that
operate in Spain&#8217;s banking sector, insurance sector, real estate sector,
services and as operational leasing entities.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=ES style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">M&#233;xico</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The BBVA Group
operates in Mexico, not only in the banking sector, but also in the insurance
sector through Grupo Financiero Bancomer.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-63</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:36.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=ES style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">South</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;"> America</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The BBVA </font></font><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Group&#8217;s
activities in South America are mainly focused on the banking, financial and
insurance sectors, in the following countries: Argentina, Chile, Colombia,
Peru, Paraguay, Uruguay and Venezuela. It has a representative office in Sao
Paulo (Brazil).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The Group owns
more</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;"> than 50%
of most of the entities based in these countries. Appendix I shows a list of
the entities which, although less than 50% owned by the BBVA Group as of
December 31, 2018, are consolidated (see Note 2.1).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=ES style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">The
United States</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The Group&#8217;s activity in the
United States is mainly carried out through a group of entities with BBVA
Compass Bancshares, Inc. at their head, as well as, the New York BBVA branch
and a representative office in Silicon Valley (California).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=ES style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">Turkey</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The Group&#8217;s
activity in </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Turkey</font></font><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;"> is mainly
carried out through the Garanti Group.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=ES style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">Rest
of Europe</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The Group&#8217;s activity in
Europe is carried out through banks and financial institutions in Ireland,
Switzerland, Italy, </font></font><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Netherlands</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">, Finland and Romania, branches in Germany, Belgium, France, Italy
Portugal and the United Kingdom, and a representative office in Moscow.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.55pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.7pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=ES style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">Asia-Pacific</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The Group</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8217;</font><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">s
activity in this region is carried out through branches (in Taipei, Tokyo, Hong
Kong </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Singapore</font></font><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;"> and Shanghai)
and representative offices (in Beijing, Seoul, Mumbai, Abu Dhabi and Jakarta).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><u><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Main transactions in the
Group in 2018</font></u></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=#0070C0 face=Arial,sans-serif style="border:none;"><font color=#0070C0 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Divestitures </font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=#009EE5 face=Arial,sans-serif style="border:none;"><font color=#009EE5 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Sale of BBVA&#8217;s
stake in BBVA Chile</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On November 28, 2017, BBVA received a binding
offer (the &#8220;Offer&#8221;) from The Bank of Nova Scotia group (&#8220;Scotiabank&#8221;) for the
acquisition of BBVA&#8217;s stake in Banco Bilbao Vizcaya Argentaria Chile, S.A.
(&#8220;BBVA Chile&#8221;) as well as in other companies of the Group in Chile with
operations that are complementary to the banking business (amongst them, BBVA
Seguros Vida, S.A.). <a name="XBRL_CS_7c735ac3915b4ffbaf27741c9"></a>BBVA owned
approximately, directly and indirectly, <a name="XBRL_CS_d06b6b09ad51402c9b396b886"></a>68.19% of BBVA Chile share capital<a name="XBRL_CS_7c735ac3915b4ffbaf27741c9_bclEnd"></a><a name="XBRL_CS_d06b6b09ad51402c9b396b886_bclEnd"></a>. On December 5, 2017, BBVA
accepted the Offer and entered into a sale and purchase agreement and the sale
was completed on July 6, 2018. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The consideration received in cash by BBVA as
consequence of the referred sale amounts to, approximately, USD <a name="XBRL_CS_020ee7239ffa4d9695fde1361"></a>2,200<a name="XBRL_CS_020ee7239ffa4d9695fde1361_bclEnd"></a> million. The transaction
results in a capital gain, net of taxes, of &#8364;<a name="XBRL_CS_939a1c242cd746a2962f68db7"></a>633<a name="XBRL_CS_939a1c242cd746a2962f68db7_bclEnd"></a> million, which was
recognized in 2018.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-64</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#009EE5 face=Arial,sans-serif style="border:none;"><font color=#009EE5 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Agreement for
the creation of a joint-venture and transfer of the Real - Estate business in
Spain</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">On November
29, 2017, <a name="XBRL_CS_56b9c1813af34d43a92878463"></a>BBVA reached an agreement
with a subsidiary of Cerberus Capital Management, L.P. (&#8220;Cerberus&#8221;) for the
creation of a &#8220;joint venture&#8221; to which an important part of the real estate
business of BBVA in Spain is transferred (the &#8220;Business&#8221;).<a name="XBRL_CS_56b9c1813af34d43a92878463_bclEnd"></a> </font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Business comprises: (i) foreclosed real estate assets (the &#8220;REOs&#8221;), with a
gross book value of approximately &#8364;13,000 million, taking as starting point the
position of the REOs as of June 26, 2017; and (ii) the necessary assets and
employees to manage the Business in an autonomous manner. For the purpose of
the agreement with Cerberus, the whole Business was valued at approximately &#8364;<a name="XBRL_CS_f6a730e13e8d48e4bf5be8925"></a>5,000<a name="XBRL_CS_f6a730e13e8d48e4bf5be8925_bclEnd"></a> million.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">On October
10, 2018, after obtaining all required authorizations, BBVA completed the
transfer of the real estate business in Spain. <a name="XBRL_CS_7c6fa9a3ed9f40fba6901c4b3"></a>Closing of the transaction has
resulted in the sale of 80% of the share capital of the company Divarian
Propiedad, S.A. to an entity managed by Cerberus<a name="XBRL_CS_7c6fa9a3ed9f40fba6901c4b3_bclEnd"></a>.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Divarian is
the company to which the BBVA Group has contributed the Business provided that
the effective transfer of several real estate assets (REO&#180;s) remains subject to
the fulfilment of certain conditions precedent. The final price payable by
Cerberus will be adjusted depending on the volume of REO&#180;s effectively
contributed.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of
December 31, 2018, the transaction did not have a significant impact on BBVA
Group&#8217;s attributable profit or the Common Equity Tier 1 (fully loaded).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><u><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Main transactions in the
Group in 2017</font></u></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=#0070C0 face=Arial,sans-serif style="border:none;"><font color=#0070C0 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Investments</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;On February 21, 2017, <a name="XBRL_CS_f6426b0a6c2040d99e4ae11de"></a>BBVA
Group entered into an agreement for the acquisition from Dogus Holding A.S. and
Dogus Arastirma Gelistirme ve Musavirlik Hizmetleri A.S of 41,790,000,000
shares of Turkiye Garanti Bankasi, A.S. (&#8220;Garanti Bank&#8221;)<a name="XBRL_CS_f6426b0a6c2040d99e4ae11de_bclEnd"></a>, amounting to <a name="XBRL_CS_beaa89a6bddb4fe5b0849dd75"></a>9.95%<a name="XBRL_CS_beaa89a6bddb4fe5b0849dd75_bclEnd"></a> of the total issued share
capital of Garanti Bank. On March 22, 2017, <a name="XBRL_CS_c8d3bef4de824c6c80c215783"></a>the sale and purchase agreement was
completed, and therefore BBVA&#180;s total stake in Garanti Bank as of December 31,
2017 amounts to 49.85%<a name="XBRL_CS_c8d3bef4de824c6c80c215783_bclEnd"></a>
(See Note 31).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><u><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Main transactions in the
Group in 2016</font></u></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=#0070C0 face=Arial,sans-serif style="border:none;"><font color=#0070C0 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Mergers</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_CS_a7ba8de9fe9446c48364dee0c"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group, at
its Board of Directors meeting held on March 31, 2016, adopted a resolution to
begin a merger process of BBVA S.A. (absorbing company), Catalunya Banc, S.A.,
Banco Depositario BBVA, S.A. y Unoe Bank, S.A.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This transaction was part of the corporate reorganization of its
banking subsidiaries in Spain, was successfully completed throughout 2016 and
has no impact in the Consolidated Financial Statements both from the accounting
and the solvency stand points.</font></font><a name="XBRL_CS_a7ba8de9fe9446c48364dee0c_bclEnd"></a><a name="XBRL_TS_918b3de4959c416e9dfa4586b_bclEnd"></a><font color=windowtext face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-65</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=#094FA4 face="BBVA Office Book,sans-serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_07092454bf0c47ff9a7ba778f"></a><a name="_Toc505355937"></a><a name="_Toc495478118"></a><a name="_Toc481589066"></a><a name="_Toc457490011"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">4.&#160;&#160;&#160; Shareholder
remuneration system</font></b></font><a name="XBRL_TS_07092454bf0c47ff9a7ba778f_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc410561199"></a><a name="XBRL_TS_3c19b9eba74f453ca72939784"></a><a name="XBRL_CS_24bf7651968242d19e3407c50"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA&#8217;s shareholder
remuneration policy communicated in October 2013 established the distribution
of an annual pay-out of between 35% and 40% of the profits earned in each year
and the progressive reduction of the remuneration via &#8220;Dividend Options&#8221;, so
that the shareholders&#8217; remuneration would ultimately be fully in cash. As
announced on February 1, 2017, BBVA&#8217;s Board of Directors executed a capital
increase to be charged to voluntary reserves for the instrumentation of the
last &#8220;Dividend Option&#8221;, being the subsequent shareholders&#8217; remunerations fully
in cash, dated March 29, 2017</font></font><a name="XBRL_CS_24bf7651968242d19e3407c50_bclEnd"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. </font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This fully &#8211; in - cash shareholders&#8217; remuneration policy would be
composed, for each year, of a distribution on account of the dividend of such
year (expected to be paid in October) and a final dividend (which would be paid
once the year has ended and the profit allocation has been approved, expected for
April), subject to the applicable authorizations by the competent governing
bodies.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Shareholder remuneration
scheme &#8220;Dividend Option&#8221;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">During
2012, 2013, 2014, 2015, 2016 and 2017, the Group implemented a shareholder
remuneration system referred to as &#8220;Dividend Option&#8221;.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Under such remuneration scheme, BBVA offered its shareholders the
possibility to receive all or part of their remuneration in the form of
newly-issued BBVA ordinary shares, whilst maintaining the possibility for BBVA
shareholders to receive their entire remuneration in cash by selling the rights
of free allocation assigned either to BBVA (in execution of the commitment
assumed by BBVA to acquire the rights of free allocation at a guaranteed fixed
price) or by selling the rights of free allocation on the market at the
prevailing market price at that time. However, the execution of the commitment
assumed by BBVA was only available to whoever had been originally assigned such
rights of free allocation and only in connection with the rights of free
allocation initially allocated at such time.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On March 29, 2017, BBVA&#8217;s Board of Directors resolved to execute
the capital increase to be charged to voluntary reserves approved by the Annual
General Meeting (&#8220;AGM&#8221;) held on March 17, 2017, under agenda item three, to
implement a &#8220;Dividend Option&#8221; this year. As a result of this increase, the
Bank&#8217;s share capital increased by &#8364;<a name="XBRL_CS_db398ad09fa742e1bcb36f206"></a>49,622,955.62
<a name="XBRL_CS_db398ad09fa742e1bcb36f206_bclEnd"></a>through the issuance
of <a name="XBRL_CS_d160d11e39f84adeb889d8560"></a>101,271,338<a name="XBRL_CS_d160d11e39f84adeb889d8560_bclEnd"></a> newly-issued BBVA ordinary
shares at <a name="XBRL_CS_6e3c8eaee64244248d3082f84"></a>0.49<a name="XBRL_CS_6e3c8eaee64244248d3082f84_bclEnd"></a> euros par value, given
that <a name="XBRL_CS_3f1d214159b84689884cadf95"></a>83.28%<a name="XBRL_CS_3f1d214159b84689884cadf95_bclEnd"></a> of owners of the rights of
free allocation opted to receive newly issued BBVA ordinary shares. The
remaining <a name="XBRL_CS_3b5e42b9efee4bef8b8ef0609"></a>16.72%<a name="XBRL_CS_3b5e42b9efee4bef8b8ef0609_bclEnd"></a> of the owners of the
rights of free allocation exercised the commitment assumed by BBVA, and as a
result, BBVA acquired <a name="XBRL_CS_9b1ed11ecc7f4d20a809fd630"></a>1,097,962,903<a name="XBRL_CS_9b1ed11ecc7f4d20a809fd630_bclEnd"></a> rights (at a gross price
of &#8364;<a name="XBRL_CS_fcac6923d2b0458993657c872"></a>0.131<a name="XBRL_CS_fcac6923d2b0458993657c872_bclEnd"></a> each) for a total amount
of &#8364;<a name="XBRL_CS_1bc61dd898b04029aaf721479"></a>143,833,140.29<a name="XBRL_CS_1bc61dd898b04029aaf721479_bclEnd"></a>. This amount is recorded
in &#8220;Total Equity-Dividends and Remuneration&#8221; of the consolidated balance sheet
as of December 31, 2017 (see Note 26).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On September, 28 2016, BBVA&#8217;s Board of Directors resolved to
execute the second of the share capital increases to be charged to voluntary
reserves, as agreed by the AGM held on March 11, 2016. As a result of this
increase, the Bank&#8217;s share capital increased by &#8364;<a name="XBRL_CS_8c4f4189af21496cbcd41ea8d"></a>42,266,085.33<a name="XBRL_CS_8c4f4189af21496cbcd41ea8d_bclEnd"></a> through the issuance of <a name="XBRL_CS_d5d9b57ec93340aa8b0d33a41"></a>86,257,317<a name="XBRL_CS_d5d9b57ec93340aa8b0d33a41_bclEnd"></a> newly-issued BBVA ordinary
shares at <a name="XBRL_CS_462f8acfb27445a9967190028"></a>0.49<a name="XBRL_CS_462f8acfb27445a9967190028_bclEnd"></a> euros par value, given
that <a name="XBRL_CS_bbae5f4cb857417580bfb9452"></a>87.85%<a name="XBRL_CS_bbae5f4cb857417580bfb9452_bclEnd"></a> of owners of the rights of
free allocation opted to receive newly-issued BBVA ordinary shares. The
remaining <a name="XBRL_CS_f0477831c388435182df6a36e"></a>12.15%<a name="XBRL_CS_f0477831c388435182df6a36e_bclEnd"></a> of the owners of the
rights of free allocation exercised the commitment assumed by BBVA, and as a
result, BBVA acquired <a name="XBRL_CS_761465e43d284cb4a50432f02"></a>787,374,942<a name="XBRL_CS_761465e43d284cb4a50432f02_bclEnd"></a> rights (at a gross price
of &#8364;<a name="XBRL_CS_c73a5cca53af408f9e5cc4ef8"></a>0.08<a name="XBRL_CS_c73a5cca53af408f9e5cc4ef8_bclEnd"></a> each) for a total amount
of &#8364;<a name="XBRL_CS_1cb46654938441fdab743ccb8"></a>62,989,995.36<a name="XBRL_CS_1cb46654938441fdab743ccb8_bclEnd"></a>. This amount is recorded
in &#8220;Total Equity-Dividends and Remuneration&#8221; of the consolidated balance sheet
as of December 31, 2016 (see Note 26).
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-66</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On March 31, 2016, BBVA&#8217;s Board of Directors
resolved to execute the first of the share capital increases to be charged to
voluntary reserves, as agreed by the AGM held on March 11, 2016 for the
implementation of the shareholder remuneration system called the &#8220;Dividend
Option&#8221;. As a result of this increase, the Bank&#8217;s share capital increased by &#8364;<a name="XBRL_CS_a5d0f781c5174d02914a9cbeb"></a>55,702,125.43<a name="XBRL_CS_a5d0f781c5174d02914a9cbeb_bclEnd"></a> through the issuance of <a name="XBRL_CS_520cb3cac43b4e47847617a72"></a>113,677,807<a name="XBRL_CS_520cb3cac43b4e47847617a72_bclEnd"></a> newly-issued BBVA ordinary
shares at a &#8364;<a name="XBRL_CS_b3f63fd383014685ba0b73665"></a>0.49<a name="XBRL_CS_b3f63fd383014685ba0b73665_bclEnd"></a> par value, given that <a name="XBRL_CS_8a3a7769d67d4a50b72eca3bf"></a>82.13%<a name="XBRL_CS_8a3a7769d67d4a50b72eca3bf_bclEnd"></a> of owners of the rights of
free allocation opted to receive newly-issued BBVA ordinary shares. The
remaining <a name="XBRL_CS_2883b2f2f37b47018ab5daf5a"></a>17.87%<a name="XBRL_CS_2883b2f2f37b47018ab5daf5a_bclEnd"></a> of the owners of the
rights of free allocation exercised the commitment assumed by BBVA, and as a
result, BBVA acquired <a name="XBRL_CS_426bc4ca4ad446f6a29765b52"></a>1,137,500,965<a name="XBRL_CS_426bc4ca4ad446f6a29765b52_bclEnd"></a> rights (at a gross price
of &#8364;<a name="XBRL_CS_4730d98132c04b3f8b6250d74"></a>0.129<a name="XBRL_CS_4730d98132c04b3f8b6250d74_bclEnd"></a> each) for a total amount
of &#8364;<a name="XBRL_CS_8fbac90836c8432db7634b3c7"></a>146,737,624.49<a name="XBRL_CS_8fbac90836c8432db7634b3c7_bclEnd"></a>. This amount is recorded
in &#8220;Total Equity- Dividends and Remuneration&#8221; of the consolidated balance sheet
as of December 31, 2016 (see Note 26).</font></font><a name="XBRL_TS_3c19b9eba74f453ca72939784_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_23696c2c363e4eb8852b515db"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Cash Dividends</font></font><a name="XBRL_TS_23696c2c363e4eb8852b515db_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><a name="XBRL_TS_f1246836283d40089f5754796"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Throughout 2016, 2017 and 2018, BBVA&#8217;s Board of Directors approved
the payment of the following dividends (interim or final dividends) fully in
cash, recorded in &#8220;Total Equity- Interim Dividends&#8221; of the consolidated balance
sheet of the relevant year:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
Board of Directors, at its meeting held on June 22, 2016, approved the payment
in cash of &#8364;<a name="XBRL_CS_1f5f0bb6393a4ad4af3bd9f68"></a>0.08<a name="XBRL_CS_1f5f0bb6393a4ad4af3bd9f68_bclEnd"></a> (&#8364;<a name="XBRL_CS_6ffa979fb98143d1836cf05b2"></a>0.0648<a name="XBRL_CS_6ffa979fb98143d1836cf05b2_bclEnd"></a> net of withholding tax)
per BBVA share as the first gross interim dividend against 2016 results. The
total amount paid to shareholders on July 11, 2016, after deducting treasury
shares held by the Group's companies, amounted to &#8364;<a name="XBRL_CS_73daf79a9f09469f85e3242f2"></a>517<a name="XBRL_CS_73daf79a9f09469f85e3242f2_bclEnd"></a> million and is recognized
under the headings &#8220;Total Equity- Interim Dividends&#8221; of the consolidated
balance sheet as of December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
Board of Directors, at its meeting held on December 21, 2016, approved the
payment in cash of &#8364;<a name="XBRL_CS_bd2eb57c4a734304bef3930fd"></a>0.08<a name="XBRL_CS_bd2eb57c4a734304bef3930fd_bclEnd"></a> (&#8364;<a name="XBRL_CS_a78b1dc066744ff4832f7bf63"></a>0.0648<a name="XBRL_CS_a78b1dc066744ff4832f7bf63_bclEnd"></a> withholding tax) per BBVA
share, as the second gross interim dividend against 2016 results. The total
amount paid to shareholders on January 12, 2017, after deducting treasury
shares held by the Group&#8217;s Companies, amounted to &#8364;<a name="XBRL_CS_9374449de6ea401cb9297c7e5"></a>525<a name="XBRL_CS_9374449de6ea401cb9297c7e5_bclEnd"></a> million and is recognized
under the heading &#8220;Total Equity- Interim Dividends&#8221; of the consolidated balance
sheet as of December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:8.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:107%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:107%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">The
Board of Directors, at its meeting held on September 27, 2017, approved the
payment in cash of &#8364;<a name="XBRL_CS_5424b0193c8c4c5f8c93b6026"></a>0.09<a name="XBRL_CS_5424b0193c8c4c5f8c93b6026_bclEnd"></a> (&#8364;<a name="XBRL_CS_e1fcfe3021ff432b8ef83edea"></a>0.0729<a name="XBRL_CS_e1fcfe3021ff432b8ef83edea_bclEnd"></a> net of withholding tax)
per BBVA share, as the first gross interim dividend against 2017 results. The
total amount paid to shareholders on October 10, 2017, after deducting treasury
shares held by the Group's companies, amounted to &#8364;<a name="XBRL_CS_4c89756023be48639afc3ce0b"></a>599<a name="XBRL_CS_4c89756023be48639afc3ce0b_bclEnd"></a> million and is recognized
under the heading &#8220;Total Equity- Interim Dividends&#8221; of the consolidated balance
sheet as of December 31, 2017.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
Annual General Meeting of BBVA held on March 16, 2018 approved, under item 1 of
the Agenda, the payment of a final dividend for 2017, in addition to other
dividends previously paid, in cash for an amount equal to &#8364;<a name="XBRL_CS_01326c38fce64e16bb6584e21"></a>0.15<a name="XBRL_CS_01326c38fce64e16bb6584e21_bclEnd"></a> (&#8364;<a name="XBRL_CS_508d5524f60c427fad2346906"></a>0.1215<a name="XBRL_CS_508d5524f60c427fad2346906_bclEnd"></a> net of withholding tax)
per BBVA share. The total amount paid to shareholders on April 10, 2018, after
deducting treasury shares held by the Group&#8217;s companies, amounted &#8364;<a name="XBRL_CS_5f0883936f1b4d1a9ce264e3f"></a>996<a name="XBRL_CS_5f0883936f1b4d1a9ce264e3f_bclEnd"></a> million and is recognized
under heading &#8220;Total Equity-&#160; Final Dividends&#8221; of the consolidated balance
sheet as of December 31, 2018. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
Board of Directors, at its meeting held on September 26, 2018, approved the
payment in cash of &#8364;<a name="XBRL_CS_965030db1a0849cdbee2c2cb9"></a>0.10<a name="XBRL_CS_965030db1a0849cdbee2c2cb9_bclEnd"></a> (&#8364;<a name="XBRL_CS_8ac52d809e554e9887f312363"></a>0.081<a name="XBRL_CS_8ac52d809e554e9887f312363_bclEnd"></a> net of withholding tax
rate of 19%) per BBVA share, as gross interim dividend based on 2018 results.
The total amount paid to shareholders on October 10, 2018, after deducting
treasury shares held by the Group&#180;s companies, amounted &#8364;<a name="XBRL_CS_852ce8eff4ce4cc5a2418c21f"></a>663<a name="XBRL_CS_852ce8eff4ce4cc5a2418c21f_bclEnd"></a> million and is recognized
under heading &#8220;Total Equity-&#160; Interim Dividends&#8221; of the consolidated balance
sheet as of December 31, 2018.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-67</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_350"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;text-align:justify;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The interim accounting statements prepared in accordance with
legal requirements evidencing the existence of sufficient liquidity for the
distribution of the amounts agreed on September 26, 2018, mentioned above are
as follows:</font></font><a name="XBRL_TS_f1246836283d40089f5754796_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:20.45pt;">
  <td colspan=2 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Available Amount for
  Interim Dividend Payments (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">August, 31, 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td width=89% style="border:none;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Profit&#160; of BBVA,
  S.A., after the provision for income tax</font></font></p>
  </td>
 <td width=11% style="border:none;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,462</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Additional Tier I
  capital instruments remuneration</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">236</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Maximum amount
  distributable</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,226</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Amount of proposed
  interim dividend</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">667</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBVA cash balance
  available to the date</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,577</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=center style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_580ccca2b4894cc69692fa7f2"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;">Proposal on allocation of earnings for 2018</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The allocation of earnings for 2018 subject to the approval of the
Board of Directors at the Annual Shareholders Meeting is presented below:</font></font><a name="XBRL_TS_580ccca2b4894cc69692fa7f2_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.15pt;">
  <td colspan=2 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Allocation of
  Earnings (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.15pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:25.15pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:25.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Profit for year
  (*)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,316</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Distribution:</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=89% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interim dividends</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">667</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=89% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Final dividend</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,067</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=89% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additional Tier 1
  securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">313</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=89% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Voluntary reserves</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">269</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_1df5ff0d6cce48b9905a80042"></a><a name="XBRL_TS_160a3026ad4449d98af53f64d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;line-height:115%;">(*)&#160; Net income of
BBVA, S.A.</font></font><a name="XBRL_TS_160a3026ad4449d98af53f64d_bclEnd"></a><a name="XBRL_TS_1df5ff0d6cce48b9905a80042_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-68</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_351"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_fff96b47f9944828b118dc7d4"></a><a name="_Toc105946"></a><a name="_Toc505355938"></a><a name="_Toc495478119"></a><a name="_Toc481589067"></a><a name="_Toc457490012"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">5.&#160;&#160;&#160;
Earnings per share</font></b></font><a name="XBRL_TS_fff96b47f9944828b118dc7d4_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_ebb6cf5741a44dc388a100898"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Basic and
diluted earnings per share are calculated in accordance with the criteria
established by IAS 33. For more information see Glossary of terms.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The calculation of earnings per share is as follows:</font></font><a name="XBRL_TS_ebb6cf5741a44dc388a100898_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Basic and Diluted
  Earnings per Share</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Numerator for basic
  and diluted earnings per share (millions of euros)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Profit attributable
  to parent company</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,324</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,519</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,475</font></font></p>
  </td>
 </tr>
<tr style="height:16.15pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:16.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Adjustment:
  Additional Tier 1 securities (1)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(313)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(301)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(260)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Profit adjusted
  (millions of euros) (A)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,011</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,218</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,215</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Profit from
  discontinued operations (net of non-controlling interest) (B)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Denominator for basic
  earnings per share (number of shares outstanding)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=67% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Weighted average
  number of shares outstanding (2)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,668</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,642</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,468</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Weighted average
  number of shares outstanding x corrective factor (3)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,668</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,642</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,592</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Adjusted number of
  shares - Basic earning per share (C)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,636</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,642</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,592</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Adjusted number of
  shares - diluted earning per share&#160; (D)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,636</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,642</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,592</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Earnings per
  share (*)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.76</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.48</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.49</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Basic earnings per
  share from continued operations (Euros per share)A-B/C</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.76</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.48</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.49</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Diluted earnings per
  share from continued operations (Euros per share)A-B/D</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.76</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.48</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.49</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Basic earnings per
  share from discontinued operations (Euros per share)B/C</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Diluted earnings per
  share from discontinued operations (Euros per share)B/D</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_TS_bf78c4437d2a480797fe2b900"></a><a name="XBRL_FS_cbc739d5f53149aa80c6bbc30"></a><a name="XBRL_TS_3d449f3f8de441ef93073eb94"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; Remuneration in the year related to contingent convertible
securities, recognized in equity (see Note 22.4).</font></font><a name="XBRL_FS_cbc739d5f53149aa80c6bbc30_bclEnd"></a><a name="XBRL_TS_3d449f3f8de441ef93073eb94_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_5762417f0c6d4bd6b62668401"></a><a name="XBRL_TS_e4e342506d734a9383c68e5b5"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(2)&#160; Weighted average number of shares outstanding (millions of
euros), excluding weighted average of treasury shares during the period.</font></font><a name="XBRL_FS_5762417f0c6d4bd6b62668401_bclEnd"></a><a name="XBRL_TS_e4e342506d734a9383c68e5b5_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_FS_5d70ef44131445a7a6afc2fa4"></a><a name="XBRL_TS_cfa7ec7346994206a06d4b2a5"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(3)&#160; Corrective factor, due to the capital increase with
pre-emptive subscription right, applied for the previous years.</font></font><a name="XBRL_FS_5d70ef44131445a7a6afc2fa4_bclEnd"></a><a name="XBRL_TS_cfa7ec7346994206a06d4b2a5_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_95ce311e0ddd4e8c899bb4671"></a><a name="XBRL_TS_b48b79fbe01b493ba5bd31a08"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160;&#160; As of December 31, 2018 the weighted average number of
shares outstanding was 6,668 million (6,642 and 6,468 million as of December
31, 2017 and 2016, respectively) and the adjustment of additional Tier 1
securities amounted to &#8364;313 million (&#8364;301 and &#8364;260 million as of December 31,
2017 and 2016, respectively).</font></font><a name="XBRL_FS_95ce311e0ddd4e8c899bb4671_bclEnd"></a><a name="XBRL_TS_b48b79fbe01b493ba5bd31a08_bclEnd"></a><a name="XBRL_TS_bf78c4437d2a480797fe2b900_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_b16450ed7fd043889c914f0c0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and
2016, there were no other financial instruments or share option commitments to
employees that could potentially affect the calculation of the diluted earnings
per share for the years presented.</font></font><a name="Nota_6"></a><a name="Nota_6_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> For this reason, basic and diluted earnings per share are the
same.</font></font><a name="XBRL_TS_b16450ed7fd043889c914f0c0_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_82df743b57a246fc86cc36bcc"></a><a name="_Toc105947"></a><a name="_Toc505355939"></a><a name="_Toc495478120"></a><a name="_Toc481589068"></a><a name="_Toc457490013"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-69</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_352"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">6.&#160;&#160;&#160; Operating segment reporting</font></b></font><a name="XBRL_TS_82df743b57a246fc86cc36bcc_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_651fdde2290245adb509fdc09"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Operating segment reporting represents
a basic tool in the oversight and management of the BBVA Group&#8217;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 reportable operating segments themselves. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">During 2018, there have not been significant changes in the
reporting structure of the operating segments of the BBVA Group, although its
composition is different from the close of 2017, as a result of the agreement
of the sale of BBVA Chile (see Note 3). This transaction, which has affected
South America&#180;s area composition, is presented as follows, as well as the other
operating segments within the BBVA Group:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Banking activity in Spain </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Includes, as in previous years, the Retail Network in Spain,
Corporate and Business Banking (CBB), Corporate &amp; Investment Banking (CIB),
BBVA Seguros and Asset Management units in Spain. It also includes the loans to
developers that are granted new or that are no longer in difficult conditions,
as well as the portfolios, finance and structural interest-rate positions of
the euro balance sheet. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Non Core Real - Estate</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">It </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">manages
loans in Spain to developers </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">who were in difficulty and real estate assets,
mainly from foreclosed properties, both residential mortgages and developers.
On November 29, 2017, the BBVA Group signed a sale agreement with Cerberus for
the subsequent sale of 80% of the company created to a subsidiary of Cerberus
(see Note 3). The effective transfer of some real estate owned assets are
subject to the fulfillment of certain conditions and in the meanwhile, BBVA
will continue to manage those assets.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;text-indent:-17.85pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The United States</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Includes the Group&#8217;s business activity in the country through the
BBVA Compass Group and the BBVA New York branch.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Mexico</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">B</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">asically includes all the </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">banking</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;"> and insurance businesses
carried out by the Group in the country. Since 2018 it has also included the
BBVA Bancomer branch in Houston (in previous years located in the United
States). Consequently, the figures from previous years have been recalculated
to incorporate this change and show comparable series.</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Turkey</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Includes </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">the</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">activity</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> of the BBVA Group business in
Turkey through Garanti Group. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">South America</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Includes BBVA&#8217;s </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">banking</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> and insurance businesses in the region. </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">On July 6, 2018, the sale of
BBVA Chile to The Bank of Nova Scotia (Scotiabank) (see Note 3) was completed
which affects the comparability of the results, the balance sheet, the activity
and the most significant ratios of this business area with prior periods.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Rest of Eurasia </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Includes </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">business</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">activity</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> in the
rest of Europe and Asia, i.e. the Group&#180;s retail and wholesale businesses in
the area.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-70</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_353"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Lastly, the Corporate Center is
comprised of the rest of the </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">assets and liabilities</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> that have
not been allocated to the operating segments, as it corresponds to the Group&#8217;s
holding function. 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&#8217;s
global solvency; portfolios 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. As of December 31, 2018, it contains </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">the 20%
stake of BBVA in Divarian&#180;s share capital (see Note 3).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the BBVA Group&#8217;s total assets
by operating segments as of December 31, 2018, 2017 and 2016, is as follows:</font></font><a name="XBRL_TS_651fdde2290245adb509fdc09_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Total Assets by
  Operating Segments (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017 (1)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016 (2)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Banking Activity in
  Spain</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">335,294</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">319,417</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">335,847</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non Core Real Estate</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,163</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,714</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,713</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82,057</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">75,775</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">88,902</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">96,455</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">94,061</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">93,318</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66,250</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78,694</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">84,866</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">52,385</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">74,636</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">77,918</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of Eurasia</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,000</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,265</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,106</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Subtotal Assets by
  Operating Segments</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">654,605</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">669,562</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">713,670</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Corporate Center </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,084</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,497</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,186</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total Assets
  BBVA Group</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">676,689</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">690,059</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">731,856</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:0pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_3a3d1e51f559460db2414b3c2"></a><a name="XBRL_TS_210545142b404e199c82ae1e4"></a><a name="XBRL_FS_99c078fe624c418e9be8f759b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; The figures corresponding to 2017 have been restated (see
Note 1.3).</font></font><a name="XBRL_FS_99c078fe624c418e9be8f759b_bclEnd"></a><a name="XBRL_TS_210545142b404e199c82ae1e4_bclEnd"></a><a name="XBRL_TS_3a3d1e51f559460db2414b3c2_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:0pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_81e6e86503784c01a36647be2"></a><a name="XBRL_TS_978736f282664b69912e72f77"></a><a name="XBRL_FS_34a1c83894754a368ec20fb35"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(2)&#160; Financial information for 2016 has not been revised to
reflect changes in our operating segments in 2018, including the inclusion of
BBVA Bancomer&#8217;s branch in Houston (which was previously part of our United
States operating segment) in our Mexico operating segment since 2018. If BBVA
Bancomer&#8217;s branch in Houston had been part of our Mexico operating segment in 2016
(rather than of our United States operating segment), total assets of the
United States and the Mexico operating segments would have been &#8364;84,726 million
and &#8364;97,492 million, respectively, as of December 31, 2016.</font></font><a name="XBRL_FS_34a1c83894754a368ec20fb35_bclEnd"></a><a name="XBRL_TS_81e6e86503784c01a36647be2_bclEnd"></a><a name="XBRL_TS_978736f282664b69912e72f77_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_4d91177d56c546d9a7acc61d1"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-71</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_354"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
attributable profit and main earning figures in the consolidated income
statements for the years ended December 31, 2018, 2017 and 2016 by operating
segments are as follows:</font></font><a name="XBRL_TS_4d91177d56c546d9a7acc61d1_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=11 width=100% style="background:#E9E9E9;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face="BBVA Office Light,sans-serif" style="border:none;"><font color=black face="BBVA Office Light,sans-serif" style="font-size:6.0pt;">Main
  Margins and Profits by Operating Segments (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=33% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face="BBVA Office Light,sans-serif" style="border:none;"><b><font color=#004481 face="BBVA Office Light,sans-serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face="BBVA Office Light,sans-serif" style="border:none;"><b><font color=#004481 face="BBVA Office Light,sans-serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=9 nowrap width=60% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Operating Segments</font></b></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td width=33% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA Group</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Spain</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non Core Real Estate</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">United States</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">South America</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest of Eurasia</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Corporate Center</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Net interest income</font></font></p>
  </td>
 <td width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,591</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,672</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,276</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,568</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,135</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,009</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">175</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(276)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross income</font></font></p>
  </td>
 <td width=7% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,747</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,943</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,989</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,193</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,901</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,701</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">415</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(432)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Operating profit
  /(loss) before tax</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,580</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,017</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(129)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">919</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,294</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,448</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,307</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">144</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,420)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Profit</font></b></font></p>
  </td>
 <td width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55.2</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,324</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,522</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(78)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">735</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,384</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">569</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">591</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">93</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(494)</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=33% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2017(1)</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.95pt;">
  <td width=33% style="border:none;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Net interest income</font></font></p>
  </td>
 <td width=7% style="border:none;height:7.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,758</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,738</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">71</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,119</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,476</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,331</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,200</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">180</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(357)</font></font></p>
  </td>
 </tr>
<tr style="height:7.95pt;">
  <td width=33% style="height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross income</font></font></p>
  </td>
 <td width=7% style="height:7.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25,270</font></font></p>
  </td>
 <td nowrap width=7% style="height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,180</font></font></p>
  </td>
 <td nowrap width=7% style="height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(17)</font></font></p>
  </td>
 <td nowrap width=7% style="height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,876</font></font></p>
  </td>
 <td nowrap width=7% style="height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,122</font></font></p>
  </td>
 <td nowrap width=7% style="height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,115</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,451</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">468</font></font></p>
  </td>
 <td nowrap width=6% style="height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">73</font></font></p>
  </td>
 </tr>
<tr style="height:7.95pt;">
  <td width=33% style="border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Operating profit
  /(loss) before tax</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,931</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,854</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(656)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">748</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,984</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,147</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,691</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">177</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,013)</font></font></p>
  </td>
 </tr>
<tr style="height:7.95pt;">
  <td width=33% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Profit</font></b></font></p>
  </td>
 <td width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55.2</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,519</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,374</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(490)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">486</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,187</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">826</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">861</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">125</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,848)</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=33% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2016(2)</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=33% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Net interest income</font></font></p>
  </td>
 <td width=7% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,059</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,877</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,953</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,126</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,404</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,930</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">166</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(455)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=33% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross income</font></font></p>
  </td>
 <td width=7% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24,653</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,416</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,706</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,766</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,257</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,054</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">491</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(31)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=33% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Operating profit
  /(loss) before tax</font></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,392</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,268</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(743)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">612</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,678</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,906</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,552</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">203</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,084)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Profit</font></b></font></p>
  </td>
 <td width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55.2</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,475</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">905</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(595)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">459</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,980</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">599</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">771</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">151</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(794)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:0pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_0e3815c26168411389ea05ee9"></a><a name="XBRL_TS_7d31287b60ce4ba2aec6e0848"></a><a name="XBRL_FS_b76effb182ac485b8270de347"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; The figures corresponding to 2017 have been restated (see
Note 1.3).</font></font><a name="XBRL_FS_b76effb182ac485b8270de347_bclEnd"></a><a name="XBRL_TS_0e3815c26168411389ea05ee9_bclEnd"></a><a name="XBRL_TS_7d31287b60ce4ba2aec6e0848_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:0pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_c8561ad7942945919fe559c6d"></a><a name="XBRL_TS_05043d9295564963a3cc959e9"></a><a name="XBRL_FS_3e7cd88c605d496994f89c2d0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(2)&#160; Financial information for 2016 has not been revised to
reflect changes in our operating segments in 2018, including the inclusion of
BBVA Bancomer&#8217;s branch in Houston (which was previously part of our United
States operating segment) in our Mexico operating segment since 2018. If BBVA
Bancomer&#8217;s branch in Houston had been part of our Mexico operating segment in
2016 (rather than of our United States operating segment), profit attributable
to parent company for the United States and the Mexico operating segments would
have been &#8364;442 million and &#8364;1,997 million, respectively, for the year ended
December 31, 2016.</font></font><a name="XBRL_FS_3e7cd88c605d496994f89c2d0_bclEnd"></a><a name="XBRL_TS_05043d9295564963a3cc959e9_bclEnd"></a><a name="XBRL_TS_c8561ad7942945919fe559c6d_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-72</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_355"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:0pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><font face=BBVABentonSansLight lang=EN-US style="font-size:8.0pt;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="_Toc474142221"></a><a name="_Toc505356836"></a><a name="_Toc474142213"></a><a name="XBRL_TS_062524e2e1cb4d2c81c05b84b"></a><a name="_Toc495478121"></a><a name="_Toc481589069"></a><a name="_Toc457490014"></a><a name="_Toc105948"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">7.&#160;&#160;&#160; Risk management</font></b></font><a name="XBRL_TS_062524e2e1cb4d2c81c05b84b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;margin-left:10.0pt;width:100%;">
 <tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><b><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">PAGE</font></b></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.1</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_356"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">General risk management and control model</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-74</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.1.1</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_356"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Governance and organization</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-74</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.1.2</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_360"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Risk Appetite Framework</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-78</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.1.3</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_362"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Decisions and processes</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-80</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.1.4</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_364"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Assessment, monitoring and reporting</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-82</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.1.5</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_364"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Infrastructure</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-82</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.1.6</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_365"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Risk culture</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-83</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.2</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_366"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Risk factors</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-84</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.3</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_368"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Credit risk</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-86</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.3.1</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_369"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Measurement Expected Credit Loss (ECL)</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-87</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.3.2</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_371"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Credit risk exposure</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-89</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.3.3</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_376"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Mitigation of credit risk, collateralized
  credit risk and other credit enhancements</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-94</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.3.4</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_377"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Credit quality of financial assets that are
  neither past due nor impaired</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-95</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.3.5</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_379"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Past due but not impaired and impaired
  secured loans risks</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-97</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.3.6</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_386"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Impairment losses</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-104</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.3.7</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_392"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Refinancing and restructuring operations</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-110</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.4</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_394"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Market risk</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-112</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.4.1</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_394"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Market risk trading portfolios</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-112</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.4.2</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_400"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Structural risk</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-118</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.4.3</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_403"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial Instruments offset</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-121</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.5</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_405"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Liquidity risk</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-123</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.5.1</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_405"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Liquidity risk management</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-123</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.5.2</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_413"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Asset encumbrance</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-131</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.6</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_416"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Operational Risk</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-134</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">7.7</font></font></p>
  </td>
 <td valign=top width=75% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;"><a href="#page_419"><font color=#0563C1 style="border:none;"><u><font color=#0563C1 face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Risk concentration</font></u></font></a></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=right style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:right;"><font style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">F-137</font></font></p>
  </td>
 </tr>
</table></div>



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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_263b31f9dd4e47e39aafb85a8"></a><a name="_Toc505356828"></a><a name="_Toc105949"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-73</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">7.1&#160;&#160; General risk
management and control model</font></b></font><a name="XBRL_TS_263b31f9dd4e47e39aafb85a8_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_2347cf571cfe4b2babd6e1893"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group has an overall risk
management and control model (hereinafter 'the model') tailored to its business
model, its organization and the geographies in which it operates, This model
allows BBVA Group to develop its activity in accordance with the risk strategy
and risk controls and management policies defined by the governing bodies of
the Bank and to adapt to a changing economic and regulatory environment,
tackling risk management globally and adapted to the circumstances at all
times. The model establishes a system of appropriate risk management regarding
risk profile and strategy of the Group.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This model
is applied comprehensively in the Group and consists of the basic elements
listed below:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Governance and organization. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Risk Appetite Framework.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Decisions and processes.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assessment, monitoring and reporting.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Infrastructure. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.85pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group promotes the development of a risk culture which aims to
ensure consistent application of the risk management and control model in the
Group, so that the risk function is understood and assimilated at all levels of
the organization.</font></font><a name="XBRL_TS_2347cf571cfe4b2babd6e1893_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_be1add8bcb404be6b2c40089a"></a><a name="_Toc403992095"></a><a name="_Toc474142214"></a><a name="_Toc505356829"></a><a name="_Toc105950"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">7.1.1&#160;&#160;
Governance and organization</font></b></font><a name="XBRL_TS_be1add8bcb404be6b2c40089a_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_bee7971a77d94fcda441b48a2"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA Group&#180;s risk governance model
is characterized by a special involvement of its corporate bodies, both in
setting the risk strategy and in the ongoing monitoring and supervision of its
implementation.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Thus, as developed below, the
corporate bodies are the ones that approve this risk strategy and corporate
policies for the different types of risk. The risk function is responsible at
management level for their implementation and development, and reporting to the
governing bodies.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The responsibility for the
daily management of the risks lies on the businesses which abide in the
development of their activity to meet the policies, rules, procedures,
infrastructures and controls, which are defined by the function risk on the
basis of the framework set by the governing bodies.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">To perform this task properly,
the risk function in the BBVA Group is configured as a single, global function
with an independent role from commercial areas.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Corporate bodies</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Board of Directors (hereinafter also referred to as
&quot;the Board&quot;) approves the risk strategy and oversees the internal
management and control systems. Specifically, in relation to the risk strategy,
the Board approves the Group's risk appetite statement, the core metrics (and
their statements) and the main metrics by type of risk, as well as the general
risk management and control model.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Board of Directors is also responsible for approving and
monitoring the strategic and business plan, the annual budget and management
goals, as well as the investment and funding policy, in a consistent way and in
line with the approved Risk Appetite Framework. For this reason, the processes
for defining the Risk Appetite Framework proposals and the strategic and
budgetary planning at Group level are coordinated by the executive areas for
submission to the Board.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-74</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">the aim of integrating the
Risk Appetite Framework into management, on the basis established by the Board
of Directors, the Executive Committee approves the metrics by type of risk in
relation to profitability and income recurrence and the Group's basic structure
of limits by geographical area, risk type, asset type and portfolio level. This
committee also approves specific corporate policies for each type of risk</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Lastly, the Board has set up a Board committee specialized in
risks, the Risk Committee, that assists the Board and the Executive Committee
in determining the Group's risk strategy and the risk limits and policies,
respectively, analyzing and assessing beforehand the proposals submitted to
those bodies. The Board of Directors has the exclusive authority to amend the
Group&#8217;s risk strategy and its elements, including the Risk Appetite Framework
metrics within its scope of decision, while the Executive Committee is
responsible for amending the metrics by type of risk within its scope of
decision and the Group's basic structure of limits (core limits), when
applicable. In both cases, the amendments follow the same decision-making
process described above, so the proposals for amendment are submitted by the
executive area (Chief Risk Officer, &#8220;CRO&#8221;) and analyzed by the Risk Committee,
for later submission to the Board of Directors or to the Executive Committee,
as appropriate.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Moreover, the Risk Committee, the Executive Committee and the
Board itself conduct adequate monitoring of the risk strategy implementation
and of the Group's risk profile. The risk function regularly reports on the
development of the Group's Risk Appetite Framework metrics to the Board and to
the Executive Committee, after the analysis by the Risk Committee, whose role
in this monitoring and control work is particularly relevant.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Risk Function: CRO.
Organizational structure and committees</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The head of the risk function at executive level is the Group&#8217;s
CRO, who carries out his functions independently and with the necessary
authority, rank, experience, knowledge and resources. He is appointed by the
Board as a member of its senior management and has direct access to its
corporate bodies (Board, Executive Standing Committee and Risk Committee), to
whom he reports regularly on the status of risks in the Group. </font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The CRO is supported in the exercise of his functions by a
structure consisting of cross-sectional risk units in the corporate area and
the specific risk units in the geographical and/or business areas of the Group.
Each of the latter units is headed by a Chief Risk Officer for the geographical
and/or business area who, within his/her area of responsibility, carries out
risk management and control functions and is responsible for applying the
corporate policies and rules approved at Group level in a consistent manner,
adapting them if necessary to local requirements and reporting to the local
corporate bodies. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Chief Risk Officers of the geographical
and/or business areas report both to the Group's CRO and to the head of their
geographical and/or business area. The aim of this dual reporting system is that
the local risk management function is independent from the operating functions
and enable its alignment with the Group's corporate risk policies and goals.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;line-height:115%;">&#160;&nbsp;</font></font><a name="_Toc398662977"></a><a name="_Toc398676023"></a><a name="_Toc398676073"></a><a name="_Toc398719253"></a><a name="_Toc398662978"></a><a name="_Toc398676024"></a><a name="_Toc398676074"></a><a name="_Toc398719254"></a><a name="_Toc398662983"></a><a name="_Toc398676029"></a><a name="_Toc398676079"></a><a name="_Toc398719259"></a><a name="_Toc398662985"></a><a name="_Toc398676031"></a><a name="_Toc398676081"></a><a name="_Toc398719261"></a><a name="_Toc398662987"></a><a name="_Toc398676033"></a><a name="_Toc398676083"></a><a name="_Toc398719263"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As explained above, the risk management function consists of risk
units from the corporate area, which carry out cross-sectional functions, and
risk units from the geographical and/or business areas. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The corporate area's risk units develop
and submit to the Group CRO the proposal for the Group's Risk Appetite
Framework, the corporate policies, rules and global procedures and
infrastructures within the framework approved by the corporate bodies; they
monitor their application and report either directly or through the CRO to the
Bank's corporate bodies. Their functions include:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Management of the different types of risks at Group level
in accordance with the strategy defined by the corporate bodies. </font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Risk planning aligned with
the risk appetite framework principles defined by the Group.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Monitoring and control of the Group's risk profile in
relation to the risk appetite framework approved by the Bank's corporate
bodies, providing accurate and reliable information with the required frequency
and in the necessary format.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Prospective analyses to enable an evaluation of compliance
with the risk appetite framework in stress scenarios and the analysis of risk
mitigation mechanisms. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Management of the technological and methodological
developments required for implementing the Model in the Group.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Design of the Group's Internal Control model and
definition of the methodology, corporate criteria and procedures for
identifying and prioritizing the risk inherent in each unit's activities and
processes.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Validation of the models used and the results obtained by
them in order to verify their adaptation to the different uses to which they
are applied.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The risk units in the business units
develop and present to the Chief Risk Officer of the geographical and/or
business area the risk appetite framework proposal applicable in each
geographical and/or business area, independently and always within the Group's
strategy/Risk Appetite Framework. They also monitor that the corporate policies
and rules are approved and applied consistently at a Group level, adapting them
if necessary to local requirements; that they are provided with appropriate
infrastructures for management and control of their risks, within the global
risk infrastructure framework defined by the corporate areas; and that they
report to their corporate bodies and/or to senior management, as appropriate.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The local risk units thus work with the
corporate area risk units in order to adapt to the risk strategy at Group level
and share all the information necessary for monitoring the development of their
risks. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The risk function has a decision-making process
to perform its functions, underpinned by a structure of committees, where the
Global Risk Management Committee (GRMC) acts as the top-level committee within
the risk function. It proposes, examines and, where applicable, approves, among
others, the internal risk regulatory framework and the procedures and
infrastructures needed to identify, assess, measure and manage the material
risks faced by the Group in carrying out its business, and the determination of
risk limits by portfolio. The members of this Committee are the Group's CRO</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">, the Heads of the main
Areas of the GRM Front, the Heads of GRM Corporate Discipline Units and the
Head of Risk Management Group of GRM</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The GRMC carries out its functions assisted by
various support committees which include: </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Global Credit Risk Management
Committee: It is responsible for analyzing and decision-making related to
wholesale credit risk admission.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Wholesale Credit Risk Management
Committee: its purpose is the analysis and decision-making regarding the
admission of wholesale credit risk of certain customer segments of the BBVA
Group.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Work Out Committee: </font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">its purpose is to be informed about decisions taken under
the delegation framework regarding risk proposals concerning clients on Watch
List and clients classified as NPL of certain customer segments of the BBVA
Group, as well the sanction of proposals regarding entries, exits and changes
of Watch List, entries and exits in non-performing unlikely to pay and turns to
written off</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Asset Allocation Committee: The
executive authority responsible for analyzing and deciding on credit risk
issues related to processes aimed at achieving a portfolios combination and
composition that, under the restrictions imposed by the Risk Appetite
framework, allows to maximize the risk adjusted return on equity.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Risk Models Management Committee: It
ensures an appropriate decision-making process regarding the planning,
development, implementation, use, validation and monitoring of the&#160; models
required to achieve an appropriate management of the Model Risk in&#160; the BBVA
Group.</font></font></p>

<p align=left style="border:none;margin-bottom:8.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:left;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:107%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:107%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">Global Markets Risk Unit Global
Committee: It is responsible for formalizing, supervising and communicating the
monitoring of trading desk risk in all the Global Markets business units, as
well as coordinating and approving GMRU key decisions activity, and developing
and proposing to GRMC the corporate regulation of the unit.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Operational Risk and Product Governance
Corporate Admission Committee: It identifies, analyzes and assesses the
operational risks associated initiatives related with new business, products or
services, outsourcing, process transformation and new systems, prior to its
launch. As well, it will verify that Product Governance normative requirements
are met and will decide about the insurance scheme (global policies). </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Retail Credit Risk Committee: It provides
for the analysis, discussion and decision support on all issues regarding the
retail credit risk management that impact or potentially do in the practices,
processes and corporate metrics established in the Policies, Rules and
Operating Frameworks.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Asset Management Global Risk Steering
Committee: its purpose is to develop and coordinate the strategies, policies,
procedures, and infrastructure necessary to identify, assess, measure and
manage the material risks facing the bank in the operation of businesses linked
to BBVA Asset Management.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Global Insurance Risk Committee: its
purpose is to monitor and promote the alignment and the communication between
all the Insurance Risk Units in the BBVA Group. It will do this by promoting
the application of standardized principles, policies, tools and risk metrics in
the different regions with the aim of maintaining proper integration of
insurance risk management in the Group.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">COPOR: its purpose is to analyze and
make decision in relation to the operations of the various geographies in which
Global Markets is present.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Each geographical and/or business area has its
own risk management committee (or committees), with objectives and contents
similar to those of the corporate area, which perform their duties consistently
and in line with corporate risk policies and rules, whose decisions are
reflected in the corresponding minutes. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Under this organizational scheme, the risk
management function monitors that the risk strategy, the regulatory framework,
and standardized risk infrastructures and controls are integrated and applied
across the entire Group. It also benefits from the knowledge and proximity to
customers in each geographical and/or business area, and transmits the
corporate risk culture to the Group's different levels. Moreover, this
organization enables the risks function to conduct and report to the corporate
bodies integrated monitoring and control of the entire Group's risks.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc403992098"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Internal
Risk Control and Internal Validation</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group has a specific Internal Risk Control
unit. Its main function is to manage that there is an adequate internal
regulatory framework, a process and measures defined for each type of risk
identified in the Group (and for those other types of risk that may potentially
affect the Group). It controls their application and operation, as well as integrating
the risk strategy into the Group's management. In this regard, the Internal
Risk Control monitors verifies the performance of their duties by the units
that develop the risk models, manage the processes and execute the controls.
Its scope of action is global, from the geographical point of view and the type
of risks.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group's
Head of Internal Risk Control is responsible for the function and reports on
its activities and informs of its work plans to the CRO and to the Board's
Risks Committee, assisting it in any matters where requested. For these
purposes the Internal Risk Control department has a Technical Secretary's Office,
which offers the Committee the technical support it needs to better perform its
duties.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, the Group has an Internal
Validation unit, which reviews the performance of its duties by the units that
develop the risk models and of those that use them in management. Its functions
include review and independent validation at internal level of the models used
for management and control of risks in the Group.</font></font><a name="XBRL_TS_bee7971a77d94fcda441b48a2_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_e6fa96c3e51a4977b657c60e7"></a><a name="_Toc105951"></a><a name="_Toc505356830"></a><a name="_Toc474142215"></a><a name="_Toc398662997"></a><a name="_Toc398676043"></a><a name="_Toc398676093"></a><a name="_Toc398719273"></a><a name="_Toc398662998"></a><a name="_Toc398676044"></a><a name="_Toc398676094"></a><a name="_Toc398719274"></a><a name="_Toc398662999"></a><a name="_Toc398676045"></a><a name="_Toc398676095"></a><a name="_Toc398719275"></a><a name="_Toc398663001"></a><a name="_Toc398676047"></a><a name="_Toc398676097"></a><a name="_Toc398719277"></a><a name="_Toc398663002"></a><a name="_Toc398676048"></a><a name="_Toc398676098"></a><a name="_Toc398719278"></a><a name="_Toc398663003"></a><a name="_Toc398676049"></a><a name="_Toc398676099"></a><a name="_Toc398719279"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">7.1.2&#160;&#160; Risk Appetite
Framework</font></b></font><a name="XBRL_TS_e6fa96c3e51a4977b657c60e7_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_91581f24cb364d7fbfd50f3e8"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group's Risk Appetite
Framework, approved by the corporate bodies, determines the risks (and their
level) that the Group is willing to assume to achieve its business objectives
considering an organic evolution of its business. These are expressed in terms
of solvency, profitability and liquidity and funding, which are reviewed
periodically as well as in case of material changes to the entity&#8217;s business or
relevant corporate transactions. The definition of the risk appetite has the
following goals:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">To express the</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">maximum
levels of risk</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> it is willing to assume, at
both Group and geographical and/or business area level.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">To establish a set of
guidelines for action and a management framework </font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">for the medium and long term that prevent actions from being taken (at
both Group and geographical and/or business area level) that could compromise
the future viability of the Group.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">To establish a framework for relations
with the geographical and/or business areas that, while preserving their
decision-making autonomy, monitors they act consistently, avoiding uneven
behavior.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">To establish a common language
throughout the organization and develop a compliance-oriented risk culture.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Alignment with the new
regulatory requirements, </font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">facilitating
communication with regulators, investors and other stakeholders, thanks to an
integrated and stable risk management framework.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Risk
appetite framework is expressed through the following elements:</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Risk Appetite Statement</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">It sets out the general principles of the
Group's risk strategy and the target risk profile. The 2018 Group&#8217;s Risk
appetite statement is as follows:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA Group's Risk Policy is aimed to promote a
multichannel and responsible universal banking model, based on principles,
targeting sustainable growth, risk adjusted profitability and recurrent value
creation. To achieve these objectives, the Risk Management Model is oriented to
maintain a moderate risk profile that allows the Group to keep strong financial
fundamentals in adverse environments preserving our strategic goals,
maintaining a prudent management, an integral view of risks, and a portfolio
diversification by geography, asset class and client segment, focusing on
keeping a long term relationship with our customers.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Core
metrics </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Based on the risk appetite statement,
statements are established to set down the general risk management principles
in terms of solvency, liquidity and funding, profitability and income
recurrence.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Solvency: a sound capital position,
maintaining resilient capital buffer from regulatory and internal requirements
that supports the regular development of banking activity even under stress
situations. As a result, BBVA proactively manages its capital position, which
is tested under different stress scenarios from a regular basis.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Liquidity and funding: A sound
balance-sheet structure to sustain the business model. Maintenance of an
adequate volume of stable resources, a diversified wholesale funding structure,
which limits the weight of short term funding and ensures the access to the
different funding markets, optimizing the costs and preserving a cushion of
liquid assets to overcome a liquidity survival period under stress scenarios.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Profitability and income recurrence: A
sound margin-generation capacity supported by a recurrent business model based
on the diversification of assets, a stable funding and a customer focus;
combined with a moderate risk profile that limits the credit losses even under
stress situations; all focused on allowing income stability and maximizing the
risk-adjusted profitability.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The core metrics define, in quantitative terms,
the principles and the target risk profile set out in the risk appetite
statement and are in line with the strategy of the Group. Each metric has three
thresholds (traffic-light approach) ranging from a standard business management
to higher deterioration levels: Management reference, Maximum appetite and
Maximum capacity.</font></font><a name="XBRL_TS_91581f24cb364d7fbfd50f3e8_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> <a name="XBRL_TS_7a6940361357486eb09201da0"></a>The 2018 Group&#8217;s Core metrics are:<a name="XBRL_TS_7a6940361357486eb09201da0_bclEnd"></a></font></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><img border=0 height=220 id="1 Imagen" src="maindocument001x360x0.gif" width=504></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_57b1dc54e0ea4999837b0050c"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">By type of risk metrics </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Based on the core metrics, statements are
established for each type of risk reflecting the main principles governing the
management of that risk and several metrics are calibrated, compliance with
which enables compliance with the core metrics and the risk appetite statement
of the Group. The metrics by type of risk have a maximum appetite threshold.
</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Basic
limits structure (core limits) </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The purpose of the basic limits structure or
core limits is to shape the Risk Appetite Framework at geographical area risk
type, asset type and portfolio level, ensuring that the management of risks on
an ongoing basis is within the thresholds set forth for by type of risk.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition to this framework, there&#8217;s a level
of management limits that is defined and managed by the risk function
developing the core limits, in order to ensure that the anticipatory management
of risks by subcategories or by subportfolios complies with that core limits
and, in general, with the Risk Appetite Framework.</font></font><a name="XBRL_TS_57b1dc54e0ea4999837b0050c_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
following graphic summarizes the structure of BBVA&#8217;s Risk Appetite Framework:</font></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><img border=0 height=235 id="Imagen 2" src="maindocument001x361x0.jpg" width=229></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_7d8990c5d8534d789a4e4571e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The corporate risk area works with
the various geographical and/or business areas to define their risk appetite
framework, which will be coordinated with and integrated into the Group's risk
appetite to ensure that its profile fits as defined.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Risk Appetite Framework is integrated into
the management and the processes for defining the Risk Appetite Framework
proposals and strategic and budgetary planning at Group level are coordinates.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As explained above, the core metrics of BBVA
Risk Appetite Framework measure Groups performance in terms of solvency,
liquidity and funding, profitability and income recurrence; most of the core
metrics are accounting related or regulatory metrics which are published
regularly to the market in the BBVA Group annual report and in the quarterly
financial reports. During 2018, the Group risk profile evolved in line with the
Risk Appetite metrics.</font></font><a name="XBRL_TS_7d8990c5d8534d789a4e4571e_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_561332d0b0d4497f9e3060a59"></a><a name="_Toc403992100"></a><a name="_Toc105952"></a><a name="_Toc505356831"></a><a name="_Toc474142216"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">7.1.3&#160;&#160;
Decisions and processes</font></b></font><a name="XBRL_TS_561332d0b0d4497f9e3060a59_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_c9c00f6dec0a4dedbd5e2a594"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The transfer of risk appetite
framework to ordinary management is supported by three basic aspects:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A standardized set of regulations.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=ES style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=ES style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Risk planning.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Comprehensive management of risks over
their life cycle.
</font></font></p>

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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Standardized
</font></font><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">regulatory
framework</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
corporate risk area is responsible for the definition and proposal of the
corporate policies, specific rules, procedures and schemes of delegation based
on which risk decisions should be taken within the Group.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This process aims for the following objectives: </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Hierarchy and structure:
well-structured information through a clear and simple hierarchy creating
relations between documents that depend on each other.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Simplicity: an appropriate and
sufficient number of documents.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Standardization: a standardized name
and content of document.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Accessibility: ability to search for,
and easy access to, documentation through the corporate risk management
library.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
approval of corporate policies for all types of risks is the responsibility of
the corporate bodies of the Bank, while the corporate risk area endorses the
remaining regulations.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Risk units
of geographical and / or business areas comply with this set of regulations
and, where necessary, adapt it to local requirements for the purpose of having
a decision process that is appropriate at local level and aligned with the
Group policies. </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">If
such adaptation is necessary, the local risk area must inform the corporate
area of GRM, who must ensure the consistency of the regulatory body at the
Group level and, therefore, if necessary, give prior approval to the
modifications proposed by the local risk areas.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc403992102"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Risk planning</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Risk
planning monitors that the risk appetite framework is integrated into management
through a cascade process for establishing limits and profitability adjusted to
the risk profile, in which the function of the corporate area risk units and
the geographical and/or business areas is to guarantee the alignment of this
process with the Group's Risk Appetite Framework in terms of solvency,
liquidity and funding, profitability and income recurrence.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">There are
tools in place that allow the Risk Appetite Framework defined at aggregate
level to be assigned and monitored by business areas, legal entities, types of
risk, concentrations and any other level considered necessary. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The risk
planning process is aligned and taken into consideration within the rest of the
Group's planning framework so as to ensure consistency.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc403992103"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Comprehensive management</font></font><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">All risks
must be managed comprehensively during their life cycle, and be treated
differently depending on the type. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The risk management cycle is composed of five elements:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Planning: with the aim of ensuring that
the Group's activities are consistent with the target risk profile and
guaranteeing solvency in the development of the strategy.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assessment: a process focused on
identifying all the risks inherent to the activities carried out by the Group.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Formalization: includes the risk
origination, approval and formalization stages.</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Monitoring and reporting: continuous
and structured monitoring of risks and preparation of reports for internal
and/or external (market, investors, etc.) consumption.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Active portfolio management: focused on
identifying business opportunities in existing portfolios and new markets,
businesses and products.</font></font><a name="XBRL_TS_c9c00f6dec0a4dedbd5e2a594_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_6c0d67157d344389aa1c56029"></a><a name="_Toc403992104"></a><a name="_Toc474142217"></a><a name="_Toc505356832"></a><a name="_Toc105953"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">7.1.4&#160;&#160;
Assessment, monitoring and reporting</font></b></font><a name="XBRL_TS_6c0d67157d344389aa1c56029_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_50ca8c821e5f4e48b1d7e0ec1"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assessment, monitoring and
reporting is a cross-cutting element that monitors that the Model has a dynamic
and proactive vision to enable compliance with the risk appetite framework
approved by the corporate bodies, even in adverse scenarios. The
materialization of this process has the following objectives:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assess compliance with
the risk appetite framework at the present time,</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> through monitoring of the core metrics, metrics by type of risk and the
basic structure of limits. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assess compliance with
the risk appetite framework in the future</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">,
through the projection of the risk appetite framework variables, in both a
baseline scenario determined by the budget and a risk scenario determined by
the stress tests.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Identify and assess the risk factors
and scenarios that could compromise compliance with the risk appetite
framework, through the development of a risk repository and an analysis of the
impact of those risks.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Act to mitigate the impact in the Group
of the identified risk factors and scenarios, ensuring this impact remains
within the target risk profile.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Supervise</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> the key variables </font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">that are not a direct part of the risk appetite framework,
but that condition its compliance. These can be either external or internal.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This process is integrated in the activity of
the risk units, both of the corporate area and in the business units, and it is
carried out during the following phases:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Identification of the risk factors that
can compromise the performance of the Group or of the geographical and/or
business areas in relation to the defined risk thresholds.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assessment of the impact of the
materialization of the risk factors on the metrics that define the Risk
Appetite Framework based on different scenarios, including stress scenarios.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Response to unwanted situations and
proposals for readjustment to enable a dynamic management of the situation,
even before it takes place.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Monitoring of the Group's risk profile
and of the identified risk factors, through internal, competitor and market
indicators, among others, to anticipate their future development. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Reporting: Complete and reliable
information on the development of risks for the corporate bodies and senior
management, with the frequency and completeness appropriate to the nature,
significance and complexity of the reported risks. The principle of
transparency governs al reporting of risk information.</font></font><a name="XBRL_TS_50ca8c821e5f4e48b1d7e0ec1_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_1718603426834773839052186"></a><a name="_Toc403992105"></a><a name="_Toc105954"></a><a name="_Toc505356833"></a><a name="_Toc474142218"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">7.1.5&#160;&#160; Infrastructure</font></b></font><a name="XBRL_TS_1718603426834773839052186_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_bb9670a03d4b459aa953e5f68"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The infrastructure is an element
that must manage that the Group has the human and technological resources
needed for effective management and supervision of risks in order to carry out
the functions set out in the Group's risk Model and the achievement of their
objectives.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With
respect to human resources, the Group risk function has an adequate workforce,
in terms of number, skills, knowledge and experience.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="_Toc398676058"></a><a name="_Toc398676108"></a><a name="_Toc398719288"></a><a name="_Toc398676060"></a><a name="_Toc398676110"></a><a name="_Toc398719290"></a><a name="_Toc398676065"></a><a name="_Toc398676115"></a><a name="_Toc398719295"></a><a name="_Toc398676066"></a><a name="_Toc398676116"></a><a name="_Toc398719296"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-82</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With regards to technology, the Group risk function manages the
integrity of management information systems and the provision of the
infrastructure needed for supporting risk management, including tools
appropriate to the needs arising from the different types of risks for their
admission, management, assessment and monitoring. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The principles that govern the Group risk technology are:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Standardization: the criteria are
consistent across the Group, thus ensuring that risk handling is standardized
at geographical and/or business area level.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Integration in management: the tools
incorporate the corporate risk policies and are applied in the Group's
day-to-day management.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Automation of the main processes making
up the risk management cycle.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Appropriateness: provision of adequate
information at the right time.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Through the
&#8220;Risk Analytics&#8221; function, the Group has a corporate framework in place for
developing the measurement techniques and models. It covers all the types of
risks and the different purposes and uses a standard language for all the
activities and geographical/business areas and decentralized execution to make
the most of the Group's global reach. The aim is to continually evolve the
existing risk models and generate others that cover the new areas of the
businesses that develop them, so as to reinforce the anticipation and
proactiveness that characterize the Group's risk function.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Also the
risk units of geographical and / or business areas have sufficient means from
the point of view of resources, structures and tools to develop a risk
management in line with the corporate model.</font></font><a name="XBRL_TS_bb9670a03d4b459aa953e5f68_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_5beacee7fa8945929006d536e"></a><a name="_Toc403992108"></a><a name="_Toc398676068"></a><a name="_Toc474142219"></a><a name="_Toc505356834"></a><a name="_Toc105955"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">7.1.6&#160;&#160;
Risk culture</font></b></font><a name="XBRL_TS_5beacee7fa8945929006d536e_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_b765da80ba6a493d9929bcefe"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group promotes the development
of a risk culture based on the observance and understanding of values,
attitudes, and behaviors that allow the compliance with the regulations and
frameworks that contribute to an appropriate risk management.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">At BBVA the
Risk Governance Model is characterized by a special involvement of social
bodies, as they define the risk culture that permeates the rest of the
organization and has the following main elements:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Our Purpose which defines our reason to
be and with our values and behaviors guide the performance of our organization
and the people who are part of it.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Risk Appetite Framework which
determines the risks and levels of risks that the Group is willing to assume in
order to fulfill its goals.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Code of Conduct establishes the
behavior guidelines that we must follow to adjust our behavior to the BBVA
values.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-83</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Risk Culture at BBVA is based on these levers:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Communication: The BBVA Group promotes
the dissemination of the principles and values that should govern the conduct
and risk management in a comprehensive and consistent manner. To do this, the
most appropriate channels of communication are used, to allow for the Risk
culture to be integrated into the business activities at all levels of the
organization.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Training: The BBVA Group favors the
understanding of the values, risk management model, and the code of conduct in
all scenarios, ensuring standards in skills and knowledge.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Motivation: The BBVA Group aims to
define incentives for BBVA employees that support the risk culture at all levels.
Among these incentives, the role of the Compensation policy and incentive
programs stand out, as well as implementation of risk culture control
mechanisms, including the complaint channels and the disciplinary committees.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Monitoring: The BBVA Group pursues at
the highest levels of the organization a continuous evaluation and monitoring
of the risk culture to guarantee its implementation and identification of areas
for improvement.</font></font><a name="XBRL_TS_b765da80ba6a493d9929bcefe_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_7940cbcb6941496ab347d0cbd"></a><a name="_Toc474142220"></a><a name="_Toc505356835"></a><a name="_Toc105956"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">7.2&#160;&#160; Risk factors</font></b></font><a name="XBRL_TS_7940cbcb6941496ab347d0cbd_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_9c6e05eab23c47bea463a6a0e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As mentioned earlier, BBVA has
processes in place for identifying risks and analyzing scenarios that enable
the Group to manage risks in a dynamic and proactive way.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The risk identification processes are forward
looking to ensure the identification of emerging risks and take into account
the concerns of both the business areas, which are close to the reality of the
different geographical areas, and the corporate areas and senior management. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Risks are captured and measured consistently
using the methodologies deemed appropriate in each case. Their measurement
includes the design and application of scenario analyses and stress testing and
considers the controls to which the risks are subjected.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As part of this process, a forward projection
of the risk appetite framework variables in stress scenarios is conducted in
order to identify possible deviations from the established thresholds. If any
such deviations are detected, appropriate measures are taken to keep the
variables within the target risk profile.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">To this extent, there are a number of emerging risks that could
affect the Group&#8217;s business trends. These risks are described in the following
main sections:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Macroeconomic
and geopolitical risks</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Global economic growth maintained robust in
2018 even if it slowed down more than expected during the second half of the
year as a result of the worse development of the trade and the industrial
sector as well as the strong increase in financial tensions, especially in
developed economies due to the rise of uncertainties. To the worse economic
development in Europe and in China, it has to be added the downturn in Asian
countries and the deterioration in the expansive cycle of the United States. In
this context, both the Federal Reserve (Fed) and the ECB have demonstrated to
be more prudent and patient at the time of advancing with the normalization of
their monetary policies and their future decisions will depend on the economic
evolution. The main risk at sort-term continues to be protectionism not only
for the direct effect on global trade, but also for the indirect impact of
lower confidence and financial volatility. To this, it has to be added the
concerns about the degree of the impact on the economic activities in the
United States and China in the following quarters have to be added as well as
the increased political uncertainty in Europe.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In summary, the uncertainty related
to the economic perspectives continues to be elevated due to the fear of a
protectionist escalation and a higher perception of the risk related to the
global economic growth.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Regulatory and
reputational risks</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#666666 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial institutions are exposed to a
complex and ever-changing regulatory environment defined by governments and
regulators. This can affect their ability to grow and the capacity of certain
businesses to develop, and result in stricter liquidity and capital
requirements with lower profitability ratios. The Group constantly monitors
changes in the regulatory framework that allow for anticipation and adaptation
to them in a timely manner, adopt industry practices and more efficient and
rigorous criteria in its implementation.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#666666 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The financial sector is under ever
closer scrutiny by regulators, governments and society itself. In the course of
activities, situations which might cause relevant reputational damage to the
entity could raise and might affect the regular course of business. The
attitudes and behaviors of the Group and its members are governed by the
principles of integrity, honesty, long-term vision and industry practices
through, inter alia, internal control Model, the Code of Conduct, tax strategy
and Responsible Business Strategy of the Group.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Business,
operational and legal risks</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#666666 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">New technologies and forms of customer
relationships: Developments in the digital world and in information
technologies pose significant challenges for financial institutions, entailing
threats (new competitors, disintermediation&#8230;) but also opportunities (new
framework of relations with customers, greater ability to adapt to their needs,
new products and distribution channels...). Digital transformation is a priority
for the Group as it aims to lead digital banking of the future as one of its
objectives.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#666666 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Technological risks and security
breaches: The Group is exposed to new threats such as cyber-attacks, theft of
internal and customer databases, fraud in payment systems, etc. that require
major investments in security from both the technological and human point of
view. The Group gives great importance to the active operational and
technological risk management and control. One example was the early adoption
of advanced models for management of these risks (AMA - Advanced Measurement
Approach).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#666666 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The financial sector is exposed to
increasing litigiousness, such that financial institutions face a large number
of proceedings of every kind -civil, criminal, administrative and otherwise-,
as well as supervisory investigations, in multiple jurisdictions, the
consequences of which are difficult to determine (including those proceedings
where an undetermined number of claimants is involved, where damages claimed
are not easy to estimate, where exorbitant amounts are claimed, where novel
legal questions are introduced using new, creative legal theories and where
proceedings are at a very early stage).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In Spain, in many current proceedings claimants seek, both
at Spanish courts and through preliminary rulings sought from the European
Union Court of Justice, that various clauses typically included within mortgage
loan agreements with credit institutions be declared abusive (including clauses
related to mortgage fees, early termination rights, reference interest rates
and arrangement fees). Unfavorable resolutions of such proceedings against the
Group or against other banking entities may directly or indirectly affect the
Group. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group is under regulatory investigations in
several countries which may give rise to sanctions and claims for damages by
third parties.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-85</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group may likewise be
subject to investigations by legal authorities, of which we have not heretofore
received formal notice to such effect, in relation with the contracting of
supposedly irregular services, that may have a negative reputational or
economic impact on the Bank. The Bank is undertaking a forensic investigation,
led by PwC, through the Bank&#8217;s external legal counsel Garrigues, together with
Ur&#237;a, the scope or duration of which it is not currently possible to predict,
nor is it possible to predict the outcome or implications for the Group of any
such investigation by the legal authorities.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group undertakes constant management and
monitoring of legal and regulatory investigations, proceedings and actions
where its interests may be defended, and allocates (on the basis of the number
of disputes, rulings and the state of proceedings or actions) what we believe
are the appropriate provisions where necessary. Nevertheless, the results of
judicial or regulatory investigations, proceedings or actions, whether to which
the Bank is currently party, to which it may be party in the future, or to
which other banking entities are party, are difficult to predict, and if
jurisprudential criteria are modified or unexpected results occur, such
allocated provisions may prove insufficient</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font><a name="XBRL_TS_9c6e05eab23c47bea463a6a0e_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_23fbe3292e3a466884d92bd95"></a><a name="_Toc105957"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">7.3&#160;&#160;&#160; Credit risk</font></b></font><a name="XBRL_TS_23fbe3292e3a466884d92bd95_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_5ec3d3b63ca745838980d923d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Credit risk
arises from the probability that one party to a financial instrument will fail
to meet its contractual obligations for reasons of insolvency or inability to
pay and cause a financial loss for the other party. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">It is the most important risk for the Group and includes
counterparty risk, issuer risk, settlement risk and country risk management. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The principles underpinning credit risk management in BBVA are as
follows:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Availability of basic information for
the study and proposal of risk, and supporting documentation for approval,
which sets out the conditions required by the internal relevant body</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Sufficient generation of funds and
asset solvency of the customer to assume principal and interest repayments of
loans owed</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Establishment of adequate and
sufficient guarantees that allow effective recovery of the transaction, this
being considered a secondary and exceptional method of recovery when the first
has failed.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Credit risk management in the Group has an integrated structure
for all its functions, allowing decisions to be taken objectively and
independently throughout the life cycle of the risk. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">At Group level: frameworks for action
and standard rules of conduct are defined for handling risk, specifically, the
circuits, procedures, structure and supervision.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">At the business area level: they are
responsible for adapting the Group's criteria to the local realities of each
geographical area and for direct management of risk according to the
decision-making circuit:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Retail risks: in general, the decisions are formalized
according to the scoring tools, within the general framework for action of each
business area with regard to risks. The changes in weighting and variables of
these tools must be validated by the GRM area. </font></font></p>

<p align=left style="border:none;margin-bottom:8.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:left;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">- Wholesale risks: in
general, the decisions are formalized by each business area within its general
framework for action with regard to risks, which incorporates the delegation
rule and the Group's corporate policies.</font></font><a name="XBRL_TS_5ec3d3b63ca745838980d923d_bclEnd"></a><font style="border:none;">
&nbsp;</font></p>

<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_a2cde5578cdf4d06a9bd48880"></a><a name="_Toc105958"></a></h3>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-86</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:12.0pt;">7.3.1&#160;&#160; Measurement
Expected Credit Loss (ECL)</font></b></font><a name="XBRL_TS_a2cde5578cdf4d06a9bd48880_bclEnd"></a></h3>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_f9d7027aed7a4c7e9ab96def9"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRS 9 requires determining the
expected credit loss of a financial instrument in a way that reflects an
unbiased estimation removing any conservatism or optimism, the time value of
money and a forward looking perspective (including the economic forecast).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Therefore the recognition and measurement of
expected credit losses (ECL) is highly complex and involves the use of significant
analysis and estimation including formulation and incorporation of
forward-looking economic conditions into ECL.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Risk Parameters Adjusted by
Macroeconomic Scenarios</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Expected Credit Loss must include forward
looking information, in accordance with IFRS 9, which states that the
comprehensive credit risk information must incorporate not only historical
information but also all relevant credit information, including forward-looking
macroeconomic information. BBVA uses the classical credit risk parameters PD,
LGD and EAD in order to calculate the ECL for the credit portfolios.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA&#180;s methodological approach in order to
incorporate the forward looking information aims to determine the relation
between macroeconomic variables and risk parameters following three main steps:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Step 1: Analysis and transformation of
time series data.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Step 2: For each dependent variable
find conditional forecasting models that are economically consistent.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Step 3: Select the best conditional
forecasting model from the set of candidates defined in Step 2, based on their
out of sample forecasting performance.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">How economic scenarios are
reflected in calculation of ECL</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The forward looking component is added through
the introduction of macroeconomic scenarios as an input. Inputs would highly
depend on the particular combination of region and portfolio, so inputs are
adapted to available data.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Based on economic theory and analysis, the
macroeconomic variables most directly relevant for explaining and forecasting
the selected risk parameters (PD, LGD) are: </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">a) The net income of families,
corporates or public administrations.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">b) The payment amounts on the principal
and interest on the outstanding loans. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">c) The value of the collateral assets
pledge to the loan.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA Group approximates these variables by
using a proxy indicator from the set included in the macroeconomic scenarios
provided by the economic research department.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Only a single specific indicator for each of
the three categories can be used and only core macroeconomic indicators should
be chosen as first choice: for a) using Real GDP Growth for the purpose of
conditional forecasting can be seen as the single sufficient &#8220;factor&#8221; required
for capturing the influence of all potentially relevant macro-financial
scenario on internal PDs and LGD ; for b) using the most representative short
term interest rate (typically the policy rate or the most liquid sovereign
yield or interbank rate or EMBI) or exchange rates expressed in real terms and
for c) using a comprehensive index of the price of real estate properties also
expressed in real terms in the case of mortgage loans and a representative
index of the price of the relevant commodity (in real terms) for corporate loan
portfolios concentrated in exporters or producer of such commodity.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-87</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_370"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Real GDP
growth is given priority over any other indicator not only because it is the
most comprehensive indicator of income and economic activity but also because
it is the central variable in the generation of macroeconomic scenarios.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Multiple scenario approach
under IFRS 9</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IFRS 9 requires calculating an unbiased
probability weighted measurement of expected credit losses (&#8220;ECL&#8221;) by
evaluating a range of possible outcomes, including forecasts of future economic
conditions.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Research teams within the BBVA Group
produce forecasts of the macroeconomic variables under the baseline scenario,
which are used in the rest of the related processes of the bank, such as
budgeting, ICAAP and risk appetite framework, stress testing, etc.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Additionally, the BBVA Research teams produced
alternative scenarios to the baseline scenario so as to meet the requirements
under the IFRS 9 standard.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Alternative
macroeconomic scenarios</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-17.85pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">For each of the macro-financial
variables, BBVA Research produces three scenarios. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Each of these scenarios corresponds to
the expected value of a different area of the probabilistic distribution of the
possible projections of the economic variables.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The approach in BBVA consists on using the
scenario that is the most likely scenario, which is the baseline scenario,
consistent with the rest of internal processes (ICAAP, Budgeting&#8230;) and then
applying an overlay adjustment that is calculated by taking into account the
weighted average of the ECL determined by each of the scenarios.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">It is important to note that in general, it is
expected that the effect of the overlay is to increase the ECL. It is possible
to obtain an overlay that does not have that effect, whenever the relationship
between macro scenarios and losses is linear. However, the overlay is not expected
to reduce the ECL.</font></font><a name="XBRL_TS_f9d7027aed7a4c7e9ab96def9_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_c17e285cb4774cf586b17190f"></a><a name="_Toc474142222"></a><a name="_Toc105959"></a></h3>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-88</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_371"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:12.0pt;">7.3.2&#160;&#160; Credit risk exposure</font></b></font><a name="XBRL_TS_c17e285cb4774cf586b17190f_bclEnd"></a></h3>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_1b23b058a8bd4b09b001116f0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In
accordance with IFRS 7 &#8220;Financial Instruments: Disclosures&#8221;, the BBVA Group&#8217;s
maximum credit risk exposure (see definition below) by headings in the balance
sheets as of December 31, 2018 is provided below. It does not consider the
availability of collateral or other credit enhancements to guarantee compliance
with payment obligations. The details are broken down by financial instruments
and counterparties.</font></font><a name="XBRL_TS_1b23b058a8bd4b09b001116f0_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Maximum Credit Risk
  Exposure (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=45% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 style="border:none;"><b><font color=#003366 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 style="border:none;"><b><font color=#003366 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 style="border:none;"><b><font color=#003366 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets held
  for trading </font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">59,581</font></b></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Debt securities</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">25,577</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,254</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Loans and advances</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28,750</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Non-trading financial
  assets mandatorily at fair value through profit or loss</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,135</font></b></font></p>
  </td>
 <td width=11% style="height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Loans and advances</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,803</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Debt securities</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">237</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,095</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets
  designated at fair value through profit or loss</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,313</font></b></font></p>
  </td>
 <td width=11% style="height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Derivatives
  (trading and hedging) </font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">38,249</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Stage 1</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Stage 2</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Stage 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets at
  fair value through other comprehensive income</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">56,332</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">56,329</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Debt securities</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13.1</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">53,737</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">53,734</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13.1</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,595</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,595</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets at
  amortized cost</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">431,927</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">384,632</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">30,902</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16,394</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loans and advances to
  central banks</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,947</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,947</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loans and advances to
  credit institutions</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9,175</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9,131</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">34</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loans and advances to
  customers</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">386,225</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">339,204</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">30,673</font></font></p>
  </td>
 <td width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16,348</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Debt securities</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">32,580</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">32,350</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">195</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">35</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total financial
  assets risk</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">592,538</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">440,960</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">30,905</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16,394</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Total loan commitments
  and financial guarantees</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">33</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">170,511</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">161,404</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,120</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">987</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=45% style="background:#004580;border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total maximum
  credit exposure</font></b></font></p>
  </td>
 <td width=11% style="background:#004580;border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="background:#004580;border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">763,049</font></b></font></p>
  </td>
 <td width=11% style="background:#004580;border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="background:#004580;border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="background:#004580;border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><a name="XBRL_TS_13bbf71ddfe44d4a881cc63d8"></a><a name="XBRL_TS_17ee1b151b3a4c90935b6cc7d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">There was no
similar breakdown before the implementation of IFRS 9 on January 1, 2018 (see
Note 2.1).</font></font><a name="XBRL_TS_13bbf71ddfe44d4a881cc63d8_bclEnd"></a><a name="XBRL_TS_17ee1b151b3a4c90935b6cc7d_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><a name="XBRL_TS_b73ce55d35da495f9b5867af9"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-89</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_372"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The maximum
credit exposure presented in the table above is determined by type of financial
asset as explained below:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the case of financial assets
recognized in the consolidated balance sheets, exposure to credit risk is
considered equal to its carrying amount (not including impairment losses), with
the sole exception of derivatives and hedging derivatives.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The maximum credit risk exposure on
financial guarantees granted is the maximum that the Group would be liable for
if these guarantees were called in, and that is their amount.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The calculation of risk exposure for
derivatives is based on the sum of two factors: the derivatives fair value and
their potential risk (or &quot;add-on&quot;).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- The first factor, fair value, reflects the difference
between original commitments and fair values on the reporting date (mark-to-market).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- The second factor, potential risk (&#8216;add-on&#8217;), is an
estimate of the maximum increase to be expected on risk exposure over a
derivative fair value (at a given statistical confidence level) as a result of
future changes in the fair value over the remaining term of the derivatives.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- The consideration of the potential risk
(&quot;add-on&quot;) relates the risk exposure to the exposure level at the
time of a customer&#8217;s default. The exposure level will depend on the customer&#8217;s
credit quality and the type of transaction with such customer. Given the fact
that default is an uncertain event which might occur any time during the life
of a contract, the BBVA Group has to consider not only the credit exposure of
the derivatives on the reporting date, but also the potential changes in
exposure during the life of the contract. This is especially important for
derivatives, whose valuation changes substantially throughout their terms,
depending on the fluctuation of market prices.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown by counterparty and product of loans and advances,
net of impairment losses, as well as the gross carrying amount by type of
product, classified in the different headings of the assets, as of December 31,
2018, 2017 and 2016 is shown below</font></font><a name="XBRL_TS_b73ce55d35da495f9b5867af9_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">:</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-90</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_373"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=10 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=24% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Central banks</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General governments</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other financial corporations</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-financial corporations</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Households</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Provisions</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=24% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">By product</font></font></p>
  </td>
 <td width=9% style="background:#969696;border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">On demand and short
  notice</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">151</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,833</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">648</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,641</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(193)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,834</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit card debt</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,328</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13,108</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15,446</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,048)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,495</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Trade receivables</font></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">948</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">195</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,190</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">103</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,436</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(280)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,716</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Finance leases</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">226</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,014</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">406</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,650</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(427)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,077</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Reverse repurchase
  loans</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">293</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">477</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">770</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">772</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other term loans</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,911</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26,839</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,947</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,030</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">133,573</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">157,760</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">332,060</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10,204)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">342,264</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Advances that are not
  loans</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,592</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,771</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,088</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">984</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">498</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,962</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(63)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,025</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=24% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and
  advances</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,941</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29,917</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,196</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,468</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">163,922</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">172,522</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">388,966</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(12,217)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">401,183</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">By secured loans</font></font></p>
  </td>
 <td width=9% style="background:#969696;border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: mortgage
  loans collateralized by immovable property</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,056</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">219</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26,784</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">111,809</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">139,883</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,122)</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">144,005</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: other
  collateralized loans</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,179</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">285</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,389</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31,393</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,835</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47,081</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(774)</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47,855</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">By purpose of the loan</font></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: credit for
  consumption</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40,124</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40,124</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,613)</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42,736</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: lending for
  house purchase</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">111,007</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">111,007</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,945)</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">112,952</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">By subordination</font></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: project
  finance loans</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13,973</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13,973</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(312)</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14,286</font></i></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-91</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_374"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2017 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap width=39% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Central banks</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General governments</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other financial corporations</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-financial corporations</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Households</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">On demand and short
  notice</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">222</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">270</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,663</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,405</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,560</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit card debt</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,862</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13,964</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15,835</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Trade receivables</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,624</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">497</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20,385</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">198</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22,705</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Finance leases</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">205</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">36</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,040</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">361</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,642</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Reverse repurchase
  loans</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">305</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,290</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13,793</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,912</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26,300</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other term loans</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,993</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26,983</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,463</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,763</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">125,228</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">155,418</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">324,848</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Advances that are not
  loans</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,964</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,005</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,044</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,459</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">522</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12,995</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=39% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and
  advances</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,301</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32,294</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26,261</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18,525</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">164,637</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">172,868</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">421,886</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=39% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: mortgage
  loans (Loans collateralized by immovable property)</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">998</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">308</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37,353</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">116,938</font></i></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">155,597</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: other
  collateralized loans</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,167</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13,501</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12,907</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24,100</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,092</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">66,767</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: credit for
  consumption</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40,705</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40,705</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: lending for
  house purchase</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">114,709</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">114,709</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: project
  finance loans</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,412</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,412</font></i></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-92</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_375"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2016 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td nowrap width=39% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Central banks</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General governments</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other financial corporations</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-financial corporations</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Households</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">On demand and short
  notice</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">373</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">246</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,125</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,507</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,251</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit card debt</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,875</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14,719</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,596</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Trade receivables</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,091</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">998</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20,246</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">418</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,753</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Finance leases</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">261</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">57</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,647</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">477</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,442</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Reverse repurchase
  loans</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">81</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">544</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15,597</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,746</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22,968</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other term loans</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,814</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29,140</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,694</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,878</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">136,105</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">167,892</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">356,524</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=39% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Advances that are not
  loans</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,410</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,083</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,082</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,194</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">620</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14,389</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=39% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and
  advances</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,894</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">34,820</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31,373</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,009</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">176,192</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">186,633</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">454,921</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=39% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: mortgage
  loans [Loans collateralized by immovable property]</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,722</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">112</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">690</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">44,406</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">132,398</font></i></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">182,328</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: other
  collateralized loans</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,700</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15,191</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,164</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21,863</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,061</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54,979</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: credit for
  consumption</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">44,504</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">44,504</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: lending for
  house purchase</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">127,606</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">127,606</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=39% style="height:11.1pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: project
  finance loans</font></i></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19,269</font></i></font></p>
  </td>
 <td width=9% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19,269</font></i></font></p>
  </td>
 </tr>
</table></div>










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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-93</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<h3 style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-35.45pt;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:12.0pt;">7.3.3&#160; Mitigation of credit risk, collateralized
credit risk and other credit enhancements</font></b></font><a name="XBRL_TS_429cd1508d6b405c96a064a3e_bclEnd"></a></h3>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_56b8d1c6658148a4b45646404"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In most cases, maximum credit risk
exposure is reduced by collateral, credit enhancements and other actions which
mitigate the Group&#8217;s exposure. The BBVA Group applies a credit risk hedging and
mitigation policy deriving from a banking approach focused on relationship
banking. The existence of guarantees could be a necessary but not sufficient
instrument for accepting risks, as the assumption of risks by the Group
requires prior evaluation of the debtor&#8217;s capacity for repayment, or that the
debtor can generate sufficient resources to allow the amortization of the risk
incurred under the agreed terms.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The policy of accepting risks is therefore
organized into three different levels in the BBVA Group:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Analysis of the financial risk of the
transaction, based on the debtor&#8217;s capacity for repayment or generation of funds.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The constitution of guarantees that are
adequate, or at any rate generally accepted, for the risk assumed, in any of
the generally accepted forms: monetary, secured, personal or hedge guarantees;
and finally</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assessment of the repayment risk (asset
liquidity) of the guarantees received.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The procedures for the management and valuation
of collateral are set out in the Corporate Policies (retail and wholesale),
which establish the basic principles for credit risk management, including the
management of collaterals assigned in transactions with customers.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The methods used to value the collateral are in
line with the best market practices and imply the use of appraisal of
real-estate collateral, the market price in market securities, the trading
price of shares in mutual funds, etc. All the collaterals received must be
correctly assigned and entered in the corresponding register. They must also
have the approval of the Group&#8217;s legal units.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The following is a description of the main
types of collateral for each financial instrument class:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial instruments held for trading:
The guarantees or credit enhancements obtained directly from the issuer or
counterparty are implicit in the clauses of the instrument.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Derivatives and hedging derivatives: In
derivatives, credit risk is minimized through contractual netting agreements,
where positive- and negative-value derivatives with the same counterparty are
offset for their net balance. There may likewise be other kinds of guarantees
and collaterals, depending on counterparty solvency and the nature of the
transaction. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The summary of the compensation effect
(via netting and collateral) for derivatives and securities operations is
presented in Note 7.4.3.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Other financial assets designated at
fair value through profit or loss and financial assets at fair value through
other comprehensive income: The guarantees or credit enhancements obtained
directly from the issuer or counterparty are inherent to the structure of the
instrument.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">At December 31, 2018, BBVA Group had no
credit risk exposure of impaired financial assets at fair value through other
comprehensive income at December 31, 2018 (see Note 7.3.2).
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-94</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial assets at amortized cost:</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">-
Loans and advances to credit institutions: These usually only have the
counterparty&#8217;s personal guarantee.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">-
Loans and advances to customers: Most of these loans and advances are backed by
personal guarantees extended by the customer. There may also be collateral to
secure loans and advances to customers (such as mortgages, cash collaterals,
pledged securities and other collateral), or to obtain other credit
enhancements (bonds, hedging, etc.).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:39.7pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Debt securities: The guarantees or credit enhancements
obtained directly from the issuer or counterparty are inherent to the structure
of the instrument.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
disclosure of impaired financial assets at amortized cost covered by collateral
(see Note 7.3.2), by type of collateral, at December 31, 2018, is the
following:</font></font><a name="XBRL_TS_56b8d1c6658148a4b45646404_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:10.5pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=34% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Maximum exposure to credit risk</font></b></font></p>
  </td>
 <td colspan=5 width=55% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Of which secured by collateral</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 style="border:none;"><b><font color=#003366 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Residential properties</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Commercial properties</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Cash</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Others</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Financial</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=34% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Impaired financial
  assets at amortized cost</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,394</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,484</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,255</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">317</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">502</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,394</font></b></font></p>
  </td>
 <td width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,484</font></b></font></p>
  </td>
 <td width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,255</font></b></font></p>
  </td>
 <td width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></b></font></p>
  </td>
 <td width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">317</font></b></font></p>
  </td>
 <td width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">502</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><a name="XBRL_TS_95dd34b5878b44e593527d813"></a><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial guarantees, other contingent
risks and drawable by third parties:</font></font><font color=blue style="border:none;"><font color=blue face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These have the counterparty&#8217;s
personal guarantee.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The maximum
credit risk exposure of impaired financial guarantees and other commitments at
December 31, 2018 amounts to &#8364;987 million (see Note 7.3.2).</font></font><a name="XBRL_TS_95dd34b5878b44e593527d813_bclEnd"></a></p>

<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_69eeed4de4ed4dab9102c53ea"></a><a name="_Toc105961"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:12.0pt;">7.3.4&#160;&#160; Credit quality of financial assets that are
neither past due nor impaired</font></b></font><a name="XBRL_TS_69eeed4de4ed4dab9102c53ea_bclEnd"></a></h3>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_d567530cfe5f4290836ca4e39"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group has tools (&#8220;scoring&#8221;
and &#8220;rating&#8221;) that enable it to rank the credit quality of its transactions and
customers based on an assessment and its correspondence with the probability of
default (&#8220;PD&#8221;) scales. To analyze the performance of PD, the Group has a series
of tracking tools and historical databases that collect the pertinent
internally generated information. These tools can be grouped together into
scoring and rating models.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Scoring</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Scoring is a decision-making model that
contributes to both the arrangement and management of retail loans: consumer
loans, mortgages, credit cards for individuals, etc. Scoring is the tool used
to decide to originate a loan, what amount should be originated and what
strategies can help establish the price, because it is an algorithm that sorts
transactions by their credit quality. This algorithm enables the BBVA Group to
assign a score to each transaction requested by a customer, on the basis of a
series of objective characteristics that have statistically been shown to
discriminate between the quality and risk of this type of transactions. The
advantage of scoring lies in its simplicity and homogeneity: all that is needed
is a series of objective data for each customer, and this data is analyzed
automatically using an algorithm.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-95</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_378"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">There are
three types of scoring, based on the information used and on its purpose:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Reactive scoring: measures the risk of
a transaction requested by an individual using variables relating to the
requested transaction and to the customer&#8217;s socio-economic data available at
the time of the request. The new transaction is approved or rejected depending
on the score.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Behavioral scoring: scores transactions
for a given product in an outstanding risk portfolio of the entity, enabling
the credit rating to be tracked and the customer&#8217;s needs to be anticipated. It
uses transaction and customer variables available internally. Specifically,
variables that refer to the behavior of both the product and the customer.</font></font></p>

<p align=left style="border:none;margin-bottom:8.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:left;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:107%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:107%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">Proactive scoring: gives a score at
customer level using variables related to the individual&#8217;s general behavior
with the entity, and to his/her payment behavior in all the contracted
products. The purpose is to track the customer&#8217;s credit quality and it is used
to pre-approved new transactions.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rating</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Rating tools, as opposed to scoring tools, do
not assess transactions but focus on the rating of customers instead:
companies, corporations, SMEs, general governments, etc. A rating tool is an instrument
that, based on a detailed financial study, helps determine a customer&#8217;s ability
to meet his/her financial obligations. The final rating is usually a
combination of various factors: on one hand, quantitative factors, and on the
other hand, qualitative factors. It is a middle road between an individual
analysis and a statistical analysis.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The main difference between ratings and
scorings is that the latter are used to assess retail products, while ratings
use a wholesale banking customer approach. Moreover, scorings only include
objective variables, while ratings add qualitative information. And although
both are based on statistical studies, adding a business view, rating tools
give more weight to the business criterion compared to scoring tools.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">For portfolios where the number of defaults is
low (sovereign risk, corporates, financial entities, etc.) the internal
information is supplemented by &#8220;benchmarking&#8221; of the external rating agencies
(Moody&#8217;s, Standard &amp; Poor&#8217;s and Fitch). To this end, each year the PDs
compiled by the rating agencies at each level of risk rating are compared, and
the measurements compiled by the various agencies are mapped against those of
the BBVA master rating scale.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Once the probability of default of a
transaction or customer has been calculated, a &quot;business cycle
adjustment&quot; is carried out. This is a means of establishing a measure of
risk that goes beyond the time of its calculation. The aim is to capture
representative information of the behavior of portfolios over a complete
economic cycle. This probability is linked to the Master Rating Scale prepared
by the BBVA Group to enable uniform classification of the Group&#8217;s various asset
risk portfolios.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The table
below shows the abridged scale used to classify the BBVA Group&#8217;s outstanding
risk as of December 31, 2018:</font></font><a name="XBRL_TS_d567530cfe5f4290836ca4e39_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:24.75pt;">
  <td width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">External rating</font></b></font></p>
  </td>
 <td width=17% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Internal rating</font></b></font></p>
  </td>
 <td colspan=3 width=65% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Probability of default</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">(basis points)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Standard&amp;Poor's List</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Reduced List (22 groups)</font></b></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average</font></b></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Minimum from &gt;=</font></b></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Maximum </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AAA</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AAA</font></font></p>
  </td>
 <td nowrap width=22% style="border:none;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=22% style="border:none;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=21% style="border:none;height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AA+</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AA+</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AA</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AA</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AA-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AA-</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">A+</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">A+</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">A</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">A</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">A-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">A-</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBB+</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBB+</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBB</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBB</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBB-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBB-</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BB+</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BB+</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">51</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BB</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BB</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">88</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">116</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BB-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BB-</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">150</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">116</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">194</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">B+</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">B+</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">255</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">194</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">335</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">B</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">B</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">441</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">335</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">581</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">B-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">B-</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">785</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">581</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,061</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">CCC+</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">CCC+</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,191</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,061</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,336</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">CCC</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">CCC</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,500</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,336</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,684</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">CCC-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">CCC-</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,890</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,684</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,121</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">CC+</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">CC+</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,381</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,121</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,673</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">CC</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">CC</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,000</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,673</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,367</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">CC-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">CC-</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,780</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,367</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,243</font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-96</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_379"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_e3a602f7248b4d3191149c6e8"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These
different levels and their probability of default were calculated by using as a
reference the rating scales and default rates provided by the external agencies
Standard &amp; Poor&#8217;s and Moody&#8217;s. These calculations establish the levels of
probability of default for the BBVA Group&#8217;s Master Rating Scale. Although this
scale is common to the entire Group, the calibrations (mapping scores to PD sections/Master
Rating Scale levels) are carried out at tool level for each country in which
the Group has tools available.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The table below outlines </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">the distribution by
probability of default within 12 months and stages of the gross carrying amount
of loans and advances to customers in percentage of BBVA Group as of December
31, 2018 is shown below</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">:</font></font><a name="XBRL_TS_e3a602f7248b4d3191149c6e8_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td nowrap valign=bottom width=42% style="border:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 nowrap width=58% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=42% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=29% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Subject to 12 month ECL (Stage 1)</font></b></font></p>
  </td>
 <td width=29% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Subject to lifetime ECL (Stage 2)</font></b></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td width=42% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Probability of default</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">(basis points)</font></b></font></p>
  </td>
 <td width=29% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 <td width=29% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=42% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0 to 2</font></font></p>
  </td>
 <td nowrap width=29% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9.6</font></font></p>
  </td>
 <td nowrap width=29% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.0</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=42% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 to 5</font></font></p>
  </td>
 <td nowrap width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10.8</font></font></p>
  </td>
 <td nowrap width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.1</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=42% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5 to 11</font></font></p>
  </td>
 <td nowrap width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6.3</font></font></p>
  </td>
 <td nowrap width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.0</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=42% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11 to 39</font></font></p>
  </td>
 <td nowrap width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20.9</font></font></p>
  </td>
 <td nowrap width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.4</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=42% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39 to 194</font></font></p>
  </td>
 <td nowrap width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30.1</font></font></p>
  </td>
 <td nowrap width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.8</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=42% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">194 to 1,061</font></font></p>
  </td>
 <td nowrap width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12.2</font></font></p>
  </td>
 <td nowrap width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.6</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=42% style="height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,061 to 2,121</font></font></p>
  </td>
 <td nowrap width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.6</font></font></p>
  </td>
 <td nowrap width=29% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.2</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=42% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&gt; 2,021</font></font></p>
  </td>
 <td nowrap width=29% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.2</font></font></p>
  </td>
 <td nowrap width=29% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.2</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=42% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td width=29% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">91.7</font></b></font></p>
  </td>
 <td width=29% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8.3</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><a name="XBRL_TS_0057a00260ab407a906ae6b45"></a><a name="XBRL_TS_e1651a5aec7947f69460e638a"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">There was no
similar breakdown before the implementation of IFRS 9 on January 1, 2018 (see
Note 2.1).</font></font><a name="XBRL_TS_0057a00260ab407a906ae6b45_bclEnd"></a><a name="XBRL_TS_e1651a5aec7947f69460e638a_bclEnd"></a></p>

<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_b13e18eef879494b97ad2d6c8"></a><a name="_Toc105962"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:12.0pt;">7.3.5&#160;&#160; Past due but not impaired and impaired
secured loans risks</font></b></font><a name="XBRL_TS_b13e18eef879494b97ad2d6c8_bclEnd"></a></h3>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_b53b36c8309c4c4682cdf62be"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The tables
below provides details by counterpart and by product of past due risks but not
considered to be impaired, as of December 31, 2018, 2017 and 2016, listed by
their first past-due date; as well as the breakdown of the debt securities and
loans and advances individually and collectively estimated (see Note 2.2.1):</font></font><a name="XBRL_TS_b53b36c8309c4c4682cdf62be_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-97</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_380"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=10 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=27% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Assets without significant increase in credit risk since initial
  recognition (Stage 1)</font></b></font></p>
  </td>
 <td colspan=3 width=25% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Assets with significant increase in credit risk since initial
  recognition but not credit-impaired (Stage 2)</font></b></font></p>
  </td>
 <td colspan=3 width=24% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit-impaired assets (Stage 3)</font></b></font></p>
  </td>
 </tr>
<tr style="height:60.75pt;">
  <td nowrap width=24% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&lt;= 30 days</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&gt; 30 days &lt;= 90 days</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&gt; 90 days</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&lt;= 30 days</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&gt; 30 days &lt;= 90 days</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&gt; 90 days</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&lt;= 30 days</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&gt; 30 days &lt;= 90 days</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&gt; 90 days</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and
  advances</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,191</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">454</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,261</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,228</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">407</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">900</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,769</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">95</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">117</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">224</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,140</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">158</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,282</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,180</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">149</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">276</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,333</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Households</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,835</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">64</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,971</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,047</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">254</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">618</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,404</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=24% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,191</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">454</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,261</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,228</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">407</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">900</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,774</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Loans and advances by
  product, by collateral and by subordination</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">On demand (call) and
  short notice (current account)</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">127</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit card debt</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">182</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">598</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">102</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">120</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Trade receivables</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">106</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Finance leases</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">307</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">102</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">110</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Reverse repurchase
  loans</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other term loans</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,421</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">325</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,575</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,869</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">369</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">840</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,433</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Advances that are not
  loans</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">108</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">89</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: mortgage
  loans collateralized by immovable property</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,681</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,598</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,745</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">251</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">712</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,365</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: other
  collateralized loans</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">255</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">742</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">103</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: credit for
  consumption</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">910</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,278</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">424</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">281</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: lending for
  house purchase</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,365</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,394</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,404</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">170</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">507</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">839</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=24% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: project
  finance loans</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">382</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">71</font></i></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p align=left style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:left;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-98</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_381"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2017 (Millions of euros) (*)</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=29% style="border:none;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=28% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Past due but not impaired</font></b></font></p>
  </td>
 <td rowspan=2 width=9% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Impaired assets</font></b></font></p>
  </td>
 <td rowspan=2 width=9% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Carrying amount of the impaired assets</font></b></font></p>
  </td>
 <td rowspan=2 width=9% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Specific allowances for financial assets, individually and
  collectively estimated</font></b></font></p>
  </td>
 <td rowspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Collective allowances for incurred but not reported losses</font></b></font></p>
  </td>
 <td rowspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Accumulated write-offs</font></b></font></p>
  </td>
 </tr>
<tr style="height:60.75pt;">
  <td nowrap width=29% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#8804; 30 days</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&gt; 30 days &#8804; 60 days</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&gt; 60 days &#8804; 90 days</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">66</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(28)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(21)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and
  advances</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,432</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">759</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">503</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19,401</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,726</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8,675)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,109)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(29,938)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">171</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">129</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(42)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(69)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(27)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(30)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(19)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">843</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">153</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">170</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,791</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,192</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,599)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,939)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(18,988)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Households</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,512</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">603</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">319</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,417</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,395</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,022)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,052)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10,913)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,432</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">759</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">503</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19,467</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,764</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8,703)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,130)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(29,938)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Loans and advances by
  product, by collateral and by subordination</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">On demand (call) and
  short notice (current account)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">77</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">389</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">151</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(238)</font></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit card debt</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">397</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">66</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">118</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">629</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">190</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(439)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Trade receivables</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">115</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">515</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">179</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(336)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Finance leases</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">138</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">66</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">431</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">155</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(276)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Reverse repurchase
  loans</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other term loans</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,705</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">606</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">317</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,417</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,047</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7,370)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Advances that are not
  loans</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(16)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: mortgage
  loans (Loans collateralized by immovable property)</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,345</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">360</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">164</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,388</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,630</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,757)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: other
  collateralized loans</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">592</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">137</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">803</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">493</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(310)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: credit for
  consumption</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,260</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">248</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">207</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,551</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">457</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,093)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: lending for
  house purchase</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,034</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">307</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">107</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,730</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,444</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,286)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=29% style="height:12.75pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: project
  finance loans</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,165</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">895</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(271)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-align:left;text-indent:-14.2pt;"><a name="XBRL_FS_21534b30ff114991bff094c06"></a><a name="XBRL_TS_a890e7b5f6534447affb061d5"></a><a name="XBRL_TS_51c06db599cc492ab470e2739"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Figures originally reported in the year 2017 in accordance to
the applicable regulation, without restatements.</font></font><a name="XBRL_FS_21534b30ff114991bff094c06_bclEnd"></a><a name="XBRL_TS_51c06db599cc492ab470e2739_bclEnd"></a><a name="XBRL_TS_a890e7b5f6534447affb061d5_bclEnd"></a><font style="border:none;">
&nbsp;</font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-99</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2016 (Millions of euros) (*)</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=27% style="border:none;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=30% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Past due but not impaired</font></b></font></p>
  </td>
 <td rowspan=2 width=9% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Impaired assets</font></b></font></p>
  </td>
 <td rowspan=2 width=9% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Carrying amount of the impaired assets</font></b></font></p>
  </td>
 <td rowspan=2 width=9% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Specific allowances for financial assets, individually and
  collectively estimated</font></b></font></p>
  </td>
 <td rowspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Collective allowances for incurred but not reported losses</font></b></font></p>
  </td>
 <td rowspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Accumulated write-offs</font></b></font></p>
  </td>
 </tr>
<tr style="height:60.75pt;">
  <td nowrap width=27% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&lt;= 30 days</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&gt; 30 days &lt;= 60 days</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:60.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&gt; 60 days &lt;= 90 days</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">272</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">128</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(144)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(46)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and
  advances</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,384</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">696</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">735</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22,925</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12,133</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10,793)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,224)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(29,346)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">66</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">295</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">256</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(39)</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(13)</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(13)</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">82</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(36)</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">34</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(57)</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">968</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">209</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">204</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13,786</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,383</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7,402)</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,789)</font></font></p>
  </td>
 <td nowrap width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(18,020)</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Households</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,343</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">479</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">426</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,801</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,483</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,319)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,329)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(11,303)</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=27% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,384</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">696</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">735</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,197</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12,261</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10,937)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,270)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(29,347)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Loans and advances by
  product, by collateral and by subordination</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">On demand (call) and
  short notice (current account)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">79</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">562</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">249</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(313)</font></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit card debt</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">377</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">88</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">124</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">643</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">114</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(529)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Trade receivables</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">424</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">87</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(337)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Finance leases</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">188</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">107</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">59</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">516</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">252</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(264)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Reverse repurchase
  loans</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">82</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other term loans</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,685</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">469</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">407</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20,765</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,429</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(9,336)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Advances that are not
  loans</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(12)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: mortgage
  loans (Loans collateralized by immovable property)</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,202</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">265</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">254</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,526</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,008</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,850)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: other
  collateralized loans</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">593</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">124</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,129</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">656</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(275)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: credit for
  consumption</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,186</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">227</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">269</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,622</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">455</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,168)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: lending for
  house purchase</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">883</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">194</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">105</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,094</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,546</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,548)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=27% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">of which: project
  finance loans</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">138</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">253</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">105</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(147)</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="background:#969696;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><a name="_Toc376972322"></a><a name="_Toc376949914"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:106%;">&nbsp;</font></font></p>

<p align=left style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-align:left;text-indent:-14.2pt;"><a name="XBRL_FS_8acc34b7e98b48588b949029c"></a><a name="XBRL_TS_ed7b8c41ef794c7aa98add3c1"></a><a name="XBRL_TS_e59a6735a19e4581afe39f3c0"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Figures originally reported in the year 2016 in accordance to
the applicable regulation, without restatements.</font></font><a name="XBRL_TS_e59a6735a19e4581afe39f3c0_bclEnd"></a><a name="XBRL_TS_ed7b8c41ef794c7aa98add3c1_bclEnd"></a></p>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_3bbdaa9f89584e28bee2f73bc"></a><a name="XBRL_FS_8acc34b7e98b48588b949029c_bclEnd"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-100</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_383"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of loans and advances, within financial assets at amortized cost,
impaired and accumulated impairment by sectors as of December 31, 2018, 2017
and 2016 is as follows:</font></font><a name="XBRL_TS_3bbdaa9f89584e28bee2f73bc_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td nowrap width=46% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018
  (Millions of euros)</font></font></p>
  </td>
 <td nowrap width=18% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=18% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=18% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:54.0pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:54.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 style="border:none;"><b><font color=#003366 face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Non-performing loans and advances</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Accumulated impairment</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:54.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Non-performing loans and advances as a % of the total</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General
  governments</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">128</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(84)</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.4%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit
  institutions</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(12)</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.1%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  corporations</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(22)</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.1%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-financial
  corporations</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,372</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(6,260)</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.9%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Agriculture, forestry
  and fishing</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">122</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(107)</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mining and quarrying</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">96</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(70)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.9%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Manufacturing</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,695</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,134)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Electricity, gas,
  steam and air conditioning supply</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">585</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(446)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.2%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Water supply</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Construction</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,488</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,007)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12.5%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Wholesale and retail
  trade</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,624</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,259)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transport and storage</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">459</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(374)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.7%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Accommodation and
  food service activities</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">315</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(204)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Information and
  communication</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">113</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(72)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Financial and
  insurance activities</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">147</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(128)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Real estate
  activities</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">834</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(624)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Professional,
  scientific and technical activities</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">204</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(171)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Administrative and
  support service activities</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">128</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(125)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Public administration
  and defense, compulsory social security</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Education</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(31)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Human health services
  and social work activities</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(63)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Arts, entertainment
  and recreation</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">59</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(41)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.5%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other services</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">386</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(382)</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.9%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Households</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,838</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,833)</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.4%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=46% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LOANS AND
  ADVANCES</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,359</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(12,211)</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.1%</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-101</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_384"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:90.75pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:90.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 style="border:none;"><b><font color=#003366 face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:90.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Non-performing loans and advances</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:90.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Accumulated impairment or Accumulated changes in fair value due
  to credit risk</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:90.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Non-performing loans and advances as a % of the total</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General
  governments</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">171</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(111)</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.5%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit
  institutions</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(36)</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.3%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  corporations</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(26)</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.1%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-financial
  corporations</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,791</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(7,538)</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6.3%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Agriculture, forestry
  and fishing</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">166</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(123)</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mining and quarrying</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">177</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(123)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.7%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Manufacturing</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,239</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(955)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Electricity, gas,
  steam and air conditioning supply</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">213</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(289)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Water supply</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.5%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Construction</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,993</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,708)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Wholesale and retail
  trade</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,706</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,230)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5.9%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transport and storage</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">441</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(353)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.2%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Accommodation and
  food service activities</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">362</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(222)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Information and
  communication</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">984</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(256)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Real estate
  activities</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,171</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,100)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.9%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Professional,
  scientific and technical activities</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">252</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(183)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Administrative and
  support service activities</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">188</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(130)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Public administration
  and defense, compulsory social security</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.9%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Education</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Human health services
  and social work activities</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">75</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(68)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.7%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Arts, entertainment
  and recreation</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(38)</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other services</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">690</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(716)</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.3%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Households</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,417</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,073)</font></b></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.7%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=46% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LOANS AND
  ADVANCES</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,401</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(12,784)</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.5%</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-102</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_385"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:78.0pt;">
  <td width=41% style="border:none;border-bottom:solid black 1.0pt;height:78.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 style="border:none;"><b><font color=#003366 face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:78.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-performing</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:78.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Accumulated impairment or Accumulated changes in fair value due
  to credit risk</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:78.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Non-performing loans and advances as a % of the total</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=41% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General
  governments</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">295</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(52)</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.8%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=41% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit
  institutions</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(42)</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.0%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=41% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  corporations</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(82)</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.2%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=41% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-financial
  corporations</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,786</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(10,192)</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.4%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Agriculture, forestry
  and fishing</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">221</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(188)</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mining and quarrying</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">126</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(83)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Manufacturing</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,569</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,201)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.5%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Electricity, gas,
  steam and air conditioning supply</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">569</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(402)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.2%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Water supply</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.5%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Construction</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,358</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3,162)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Wholesale and retail
  trade</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,857</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,418)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6.2%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transport and storage</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">442</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(501)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.5%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Accommodation and
  food service activities</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">499</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(273)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5.9%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Information and
  communication</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">112</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(110)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2.2%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Real estate
  activities</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,441</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,074)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8.7%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Professional,
  scientific and technical activities</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">442</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(380)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Administrative and
  support service activities</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">182</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(107)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Public administration
  and defense, compulsory social security</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Education</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(31)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5.4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Human health services
  and social work activities</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">89</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(88)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Arts, entertainment
  and recreation</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">84</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(51)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=41% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other services</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">691</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,088)</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.2%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=41% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Households</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,801</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,648)</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.6%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=41% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LOANS AND
  ADVANCES</font></b></font></p>
  </td>
 <td nowrap width=20% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,925</font></b></font></p>
  </td>
 <td nowrap width=20% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(16,016)</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5.0%</font></b></font></p>
  </td>
 </tr>
</table></div>










<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_25bfc92e36b04283a050ca1f1"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-103</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_386"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The changes
during the years 2018, 2017 and 2016 of impaired financial assets and
contingent risks are as follow:</font></font><a name="XBRL_TS_25bfc92e36b04283a050ca1f1_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Changes in Impaired
  Financial Assets and Contingent Risks (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,590</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,877</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,103</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,792</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,856</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,133</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Decreases (*)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(6,909)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(7,771)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(7,633)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Net additions</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,883</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,085</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,500</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amounts written-off</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,076)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,758)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,592)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange differences
  and other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,264)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(615)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(134)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=67% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,134</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,590</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,877</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_6c843f52c55c4bd8af7345de5"></a><a name="XBRL_TS_02f886dd429b445c87badd145"></a><a name="XBRL_TS_fa80dcff7fb2412d8914703e5"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160;&#160; Reflects the total amount of impaired loans derecognized
from the consolidated balance sheet throughout the year as a result of mortgage
foreclosures and real estate assets received in lieu of payment as well as
monetary recoveries (see Notes 19 and 20 to the Consolidated Financial
Statement for additional information).</font></font><a name="XBRL_FS_6c843f52c55c4bd8af7345de5_bclEnd"></a><a name="XBRL_TS_02f886dd429b445c87badd145_bclEnd"></a><a name="XBRL_TS_fa80dcff7fb2412d8914703e5_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_ca0a592cd0bc4f5aa153885a4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The changes
during the years 2018, 2017 and 2016 in financial assets derecognized from the
accompanying consolidated balance sheet as their recovery is considered
unlikely (hereinafter &quot;write-offs&quot;), is shown below:</font></font><a name="XBRL_TS_ca0a592cd0bc4f5aa153885a4_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Changes in Impaired
  Financial Assets Written-Off from the Balance Sheet (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap width=53% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 style="border:none;"><b><font color=#0A5FB4 face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=53% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">30,139</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">29,347</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26,143</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=53% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Acquisition
  of&nbsp;subsidiaries&nbsp;in the year</font></font></p>
  </td>
 <td width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Increase:</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,164</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,986</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,699</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Decrease:</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(4,210)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(4,442)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,384)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Re-financing or
  restructuring</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(32)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Cash recovery</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(589)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(558)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(541)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Foreclosed assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(625)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(149)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(210)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Sales of
  written-off</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,805)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,284)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(45)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt forgiveness</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(889)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,121)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(864)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=53% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Time-barred debt
  and other causes </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(292)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(321)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(692)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=53% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Net exchange
  differences</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">250</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(752)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(111)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=53% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,343</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30,139</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,347</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_ee3fecc73a724006a9697d17f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As
indicated in Note 2.2.1, although they have been derecognized from the
consolidated balance sheet, the BBVA Group continues to attempt to collect on
these written-off financial assets, until the rights to receive them are fully
extinguished, either because it is time-barred financial asset, the financial asset
is condoned, or other reasons.</font></font><a name="XBRL_TS_ee3fecc73a724006a9697d17f_bclEnd"></a></p>

<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_0a2f0da299e14bf7a181d8db7"></a><a name="_Toc474142226"></a><a name="_Toc505356841"></a><a name="_Toc105963"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:12.0pt;">7.3.6&#160;&#160; Impairment losses</font></b></font><a name="XBRL_TS_0a2f0da299e14bf7a181d8db7_bclEnd"></a></h3>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_2dad816e8fd44c33a2cba0ece"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Below are
the changes in the years ended December 31, 2018, 2017 and 2016, in the
provisions recognized on the accompanying consolidated balance sheets to cover
estimated impairment losses in loans and advances and debt securities measured
at amortized cost and financial assets at fair value through other
comprehensive income as well as the loan commitment and financial guarantees:</font></font><a name="XBRL_TS_2dad816e8fd44c33a2cba0ece_bclEnd"></a></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-104</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_387"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial assets at amortized cost. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=35% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=33% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Not credit-impaired</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit-impaired</font></b></font></p>
  </td>
 <td rowspan=2 width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap width=35% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Stage 1</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Stage 2</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit-impaired </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Stage 3)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Purchased/originated credit-impaired </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">(Stage 3)</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=35% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances (collectively assessed)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances (individually assessed)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=35% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Opening balance
  (under IFRS 9)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,237)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,827)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(525)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(9,371)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(13,960)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Transfers of
  financial assets:</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfers from Stage
  1 to Stage 2 (not credit-impaired)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">208</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(930)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(218)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(940)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfers from Stage
  2 (not credit - impaired) to Stage 1</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(125)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">619</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">544</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Transfers to Stage 3</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">282</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">564</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,127)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,226)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfers from Stage
  3 to Stage 1 or 2</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(126)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(68)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">333</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">132</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Changes without
  transfers between Stages</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">358</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(53)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(260)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,775)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,730)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">New financial assets
  originated</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,072)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(375)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(244)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,692)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Purchased</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Disposals</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">110</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">115</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Repayments</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">641</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">432</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">118</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,432</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,623</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Write-offs</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,433</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,461</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Changes in model/
  methodology</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Foreign exchange</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(84)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">72</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(93)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">343</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">239</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Modifications that
  result in derecognition</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">98</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">138</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Modifications that do
  not result in derecognition</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(362)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(366)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">135</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">133</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,111</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,399</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=35% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Closing balance</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,106)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,753)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(628)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7,777)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(12,264)</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-105</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_388"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial assets at fair value through other comprehensive income. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=35% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=33% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Not credit-impaired</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit-impaired</font></b></font></p>
  </td>
 <td rowspan=2 width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap width=35% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Stage 1</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Stage 2</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit-impaired </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Stage 3)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Purchased/originated credit-impaired </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">(Stage 3)</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=35% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances (collectively assessed)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances (individually assessed)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=35% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Opening balance
  (under IFRS 9)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(20)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(14)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(35)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Transfers of
  financial assets:</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfers from Stage
  1 to Stage 2 (not credit-impaired)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfers from Stage
  2 (not credit - impaired) to Stage 1</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Transfers to Stage 3</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfers from Stage
  3 to Stage 1 or 2</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Changes without
  transfers between Stages</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">New financial assets
  originated</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Purchased</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Disposals</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Repayments</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Write-offs</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Changes in model/
  methodology</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Foreign exchange</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Modifications that
  result in derecognition</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Modifications that do
  not result in derecognition</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(11)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=35% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Closing balance</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(28)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(28)</font></b></font></p>
  </td>
 </tr>
</table></div>



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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Loan commitments and financial guarantees. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=35% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=33% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Not credit-impaired</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit-impaired</font></b></font></p>
  </td>
 <td rowspan=2 width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap width=35% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Stage 1</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Stage 2</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit-impaired </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Stage 3)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Purchased/originated credit-impaired </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">(Stage 3)</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=35% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances (collectively assessed)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances (individually assessed)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss
  allowances</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=35% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Opening balance
  (under IFRS 9)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(200)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(135)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(84)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(285)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(704)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Transfers of
  financial assets:</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfers from Stage
  1 to Stage 2 (not credit-impaired)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(84)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(81)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfers from Stage
  2 (not credit - impaired) to Stage 1</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">65</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">58</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Transfers to Stage 3</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(48)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(27)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfers from Stage
  3 to Stage 1 or 2</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Changes without
  transfers between Stages</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">35</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">67</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">New financial assets
  originated</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(102)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(32)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(154)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Purchased</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Disposals</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Repayments</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">58</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">73</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">202</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Write-offs</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Changes in model/
  methodology</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Foreign exchange</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Modifications that
  result in derecognition</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Modifications that do
  not result in derecognition</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(32)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(32)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(13)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=35% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Closing balance</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(232)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(127)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(60)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(217)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(636)</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-107</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_390"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2017 (Millions of euros) (*)</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td nowrap width=20% style="border:none;height:38.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;height:38.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Opening balance</font></b></font></p>
  </td>
 <td width=10% style="border:none;height:38.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Increases due to amounts set aside&#160; for estimated loan losses
  during the period</font></b></font></p>
  </td>
 <td width=10% style="border:none;height:38.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Decreases due to amounts&#160; reversed for estimated loan losses during
  the period</font></b></font></p>
  </td>
 <td width=10% style="border:none;height:38.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Decreases due to amounts taken against allowances</font></b></font></p>
  </td>
 <td width=10% style="border:none;height:38.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Transfers between allowances</font></b></font></p>
  </td>
 <td width=10% style="border:none;height:38.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other adjustments</font></b></font></p>
  </td>
 <td width=10% style="border:none;height:38.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Closing balance</font></b></font></p>
  </td>
 <td width=10% style="border:none;height:38.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Recoveries&#160; recorded directly to the statement of profit or loss</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity
  instruments</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Specific allowances
  for financial assets, individually and collectively estimated</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10,937)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7,484)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,878</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,503</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,810</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">526</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8,703)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">558</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=20% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(144)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(26)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">123</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(28)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=20% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=20% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=20% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=20% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(26)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(16)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=20% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(103)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(17)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">107</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=20% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10,793)</font></b></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7,458)</font></b></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,872</font></b></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,503</font></b></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,687</font></b></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">513</font></b></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8,675)</font></b></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">558</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=20% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=20% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(39)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(70)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(42)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=20% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=20% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(287)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">227</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=20% style="height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7,402)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,627)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,993</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,029</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(228)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">636</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,599)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">345</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Households</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,319)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,472)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">837</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,422</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,687</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(177)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,022)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">212</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Collective allowances
  for incurred but not reported losses on financial assets</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,270)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,783)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,159</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,537</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,328)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">557</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,130)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=20% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(46)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,224)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,776)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,128</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,536</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,328)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">554</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,109)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=20% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(16,206)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(9,267)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,037</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,038</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">482</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,083</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(12,833)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">558</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;"></font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_FS_c649d757db364b628dcd6d907"></a><a name="XBRL_TS_d983a5933ee0426993523822c"></a><a name="XBRL_TS_2defa24486b245f491e1e340a"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160; Figures
originally reported in the year 2017 in accordance to the applicable
regulation, without restatements.</font></font><a name="XBRL_FS_c649d757db364b628dcd6d907_bclEnd"></a><a name="XBRL_TS_2defa24486b245f491e1e340a_bclEnd"></a><a name="XBRL_TS_d983a5933ee0426993523822c_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-108</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_391"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2016 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:42.75pt;">
  <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Opening balance</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Increases due to amounts set aside&#160; for estimated loan losses
  during the period</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Decreases due to amounts&#160; reversed for estimated loan losses
  during the period</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Decreases due to amounts taken against allowances</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Transfers between allowances</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other adjustments</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Closing balance</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:6.0pt;">Recoveries&#160; recorded directly to the statement of profit or loss</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity
  instruments</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="background:#969696;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Specific allowances
  for financial assets, individually and collectively estimated</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(12,866)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6,912)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,708</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,673</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(123)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">583</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10,937)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">540</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(35)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(167)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">64</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(144)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(29)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(26)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(138)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">33</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(103)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(12,831)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6,745)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,702</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,610</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(113)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">585</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(10,793)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">540</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(37)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(27)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(39)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(17)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(38)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(34)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(9,225)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,705)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,158</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,257</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(278)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">391</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7,402)</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">335</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Households</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,514)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,002)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">511</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,325</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">172</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">189</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,319)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">205</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Collective allowances
  for incurred but not reported losses on financial assets</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6,024)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,558)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,463</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">88</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">775</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(15)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,270)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=20% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(113)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">64</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(46)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,911)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,546)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,449</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">87</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">711</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,224)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(18,890)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8,470)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,172</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,762</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">652</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">568</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(16,206)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">541</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><a name="XBRL_TS_d688478d19394cf2abd5919c0"></a><a name="XBRL_TS_cefd3e6dc26643d3b600e0aed"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(</font></font><a name="XBRL_FS_27a42aa0d9634a3381d42721e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">*)&#160; Figures
originally reported in the year 2016 in accordance to the applicable
regulation, without restatements.</font></font><a name="XBRL_FS_27a42aa0d9634a3381d42721e_bclEnd"></a><a name="XBRL_TS_cefd3e6dc26643d3b600e0aed_bclEnd"></a><a name="XBRL_TS_d688478d19394cf2abd5919c0_bclEnd"></a></p>



<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>



<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_d53bbcc207e34876b3b01ef26"></a><a name="_Toc105964"></a></h3>
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:12.0pt;">7.3.7&#160;&#160; Refinancing
and restructuring operations</font></b></font><a name="XBRL_TS_d53bbcc207e34876b3b01ef26_bclEnd"></a></h3>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_c1afc42281e64ff99d0e613b1"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Group policies and principles with respect to refinancing and
restructuring operations</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Refinancing and restructuring transactions (see
definition in the Glossary) are carried out with customers who have requested
such an operation in order to meet their current loan payments if they are
expected, or may be expected, to experience financial difficulty in making the
payments in the future.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The basic aim of a refinancing and
restructuring operation is to provide the customer with a situation of
financial viability over time by adapting repayment of the loan incurred with
the Group to the customer&#8217;s new situation of fund generation. The use of
refinancing and restructuring for other purposes, such as to delay loss
recognition, is contrary to BBVA Group policies. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group&#8217;s refinancing and restructuring
policies are based on the following general principles:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Refinancing and restructuring is
authorized according to the capacity of customers to pay the new installments.
This is done by first identifying the origin of the payment difficulties and
then carrying out an analysis of the customers&#8217; viability, including an updated
analysis of their economic and financial situation and capacity to pay and
generate funds. If the customer is a company, the analysis also covers the
situation of the industry in which it operates. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With the aim of increasing the solvency
of the operation, new guarantees and/or guarantors of demonstrable solvency are
obtained where possible. An essential part of this process is an analysis of
the effectiveness of both the new and original guarantees. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This analysis is carried out from the
overall customer or group perspective. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Refinancing and restructuring
operations do not in general increase the amount of the customer&#8217;s loan, except
for the expenses inherent to the operation itself. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The capacity to refinance and
restructure loan is not delegated to the branches, but decided on by the risk
units. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The decisions made are reviewed from
time to time with the aim of evaluating full compliance with refinancing and
restructuring policies. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These general principles are adapted in each
case according to the conditions and circumstances of each geographical area in
which the Group operates, and to the different types of customers involved.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the case of retail customers (private
individuals), the main aim of the BBVA Group&#8217;s policy on refinancing and
restructuring loan is to avoid default arising from a customer&#8217;s temporary
liquidity problems by implementing structural solutions that do not increase
the balance of customer&#8217;s loan. The solution required is adapted to each case
and the loan repayment is made easier, in accordance with the following principles:
</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Analysis of the viability of operations
based on the customer&#8217;s willingness and ability to pay, which may be reduced,
but should nevertheless be present. The customer must therefore repay at least
the interest on the operation in all cases. No arrangements may be concluded
that involve a grace period for both principal and interest.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Refinancing and restructuring of
operations is only allowed on those loans in which the BBVA Group originally
entered into.</font></font></p>

<p align=left style="border:none;margin-bottom:8.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:left;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:107%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:107%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">Customers subject to refinancing and
restructuring operations are excluded from marketing campaigns of any kind.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the case
of non-retail customers (mainly companies, enterprises and corporates),
refinancing/restructuring is authorized according to an economic and financial
viability plan based on:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Forecasted future income, margins and
cash flows to allow entities to implement cost adjustment measures (industrial
restructuring) and a business development plan that can help reduce the level
of leverage to sustainable levels (capacity to access the financial markets).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Where appropriate, the existence of a
divestment plan for assets and/or operating segments that can generate cash to
assist the deleveraging process.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The capacity of shareholders to
contribute capital and/or guarantees that can support the viability of the
plan.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In accordance with the Group&#8217;s policy, the
conclusion of a loan refinancing and restructuring operation does not meet the
loan is reclassified from &quot;impaired&quot; or &quot;significant increase in
credit risk&quot; to outstanding risk. The reclassification to
&quot;significant increase in credit risk&quot; or normal risk categories must
be based on the analysis mentioned earlier of the viability, upon completion of
the probationary periods described below. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group maintains the policy of including risks
related to refinanced and restructured loans as either:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&quot;Impaired assets&quot;, as
although the customer is up to date with payments, they are classified as
unlikely to pay when there are significant doubts that the terms of their
refinancing may not be met; or</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&quot;Significant increase in credit
risk&quot; until the conditions established for their consideration as normal
risk are met).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The conditions established for assets
classified as &#8220;Significant increase in credit risk&#8221; to be reclassified out of
this category are as follows:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The customer must have paid past-due
amounts (principal and interest) since the date of the renegotiation or
restructuring of the loan or other objective criteria, demonstrating the
borrower&#180;s ability to pay, have been verified; none of its exposures is more
than 30 days past-due; and</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">At least two years must have elapsed
since completion of the renegotiation or restructuring of the loan and regular
payments must have been made during at least half of this probation period;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">It is unlikely that the customer will
have financial difficulties and, therefore, it is expected that the customer
will be able to meet its loan payment obligations (principal and interest) in a
timely manner.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group&#8217;s refinancing and restructuring
policy provides for the possibility of two modifications in a 24 month period
for loans that are not in compliance with the payment schedule.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The internal models used to determine
allowances for loan losses consider the restructuring and renegotiation of a
loan, as well as re-defaults on such a loan, by assigning a lower internal
rating to restructured and renegotiated loans than the average internal rating
assigned to non-restructured/renegotiated loans. This downgrade results in an
increase in the probability of default (PD) assigned to
restructured/renegotiated loans (with the resulting PD being higher than the
average PD of the non- renegotiated loans in the same portfolios).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">For quantitative information on refinancing and
restructuring operations see Appendix VIII.</font></font><a name="XBRL_TS_c1afc42281e64ff99d0e613b1_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">7.4
&#160;&#160;&#160;Market risk</font></b></font><a name="XBRL_TS_d493dbd644c44847afeb15200_bclEnd"></a></p>

<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_c4dee74e9cb14f1a9228cefb3"></a><a name="_Toc105966"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:12.0pt;">7.4.1&#160; Market risk trading portfolios</font></b></font><a name="XBRL_TS_c4dee74e9cb14f1a9228cefb3_bclEnd"></a></h3>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_dc080687e0a74e1eb9ee77f5b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Market risk originates as a result
of movements in the market variables that impact the valuation of traded
financial products and assets. The main risks generated can be classified as
follows:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Interest-rate risk: This arises as a
result of exposure to movements in the different interest-rate curves involved
in trading. Although the typical products that generate sensitivity to the
movements in interest rates are money-market products (deposits, interest-rate
futures, call money swaps, etc.) and traditional interest-rate derivatives
(swaps and interest-rate options such as caps, floors, swaptions, etc.),
practically all the financial products are exposed to interest-rate movements
due to the effect that such movements have on the valuation of the financial
discount.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Equity risk: This arises as a result of
movements in share prices. This risk is generated in spot positions in shares
or any derivative products whose underlying asset is a share or an equity index.
Dividend risk is a sub-risk of equity risk, arising as an input for any equity
option. Its variation may affect the valuation of positions and it is therefore
a factor that generates risk on the books.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Exchange-rate risk: This is caused by
movements in the exchange rates of the different currencies in which a position
is held. As in the case of equity risk, this risk is generated in spot currency
positions, and in any derivative product whose underlying asset is an exchange
rate. In addition, the quanto effect (operations where the underlying asset and
the instrument itself are denominated in different currencies) means that in
certain transactions in which the underlying asset is not a currency, an
exchange-rate risk is generated that has to be measured and monitored.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Credit-spread risk: Credit spread is an
indicator of an issuer's credit quality. Spread risk occurs due to variations
in the levels of spread of both corporate and government issues, and affects
positions in bonds and credit derivatives.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Volatility risk: This occurs as a
result of changes in the levels of implied price volatility of the different
market instruments on which derivatives are traded. This risk, unlike the
others, is exclusively a component of trading in derivatives and is defined as
a first-order convexity risk that is generated in all possible underlying
assets in which there are products with options that require a volatility input
for their valuation.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The metrics developed to control and monitor
market risk in BBVA Group are aligned with market practices and are implemented
consistently across all the local market risk units. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Measurement procedures are established in terms
of the possible impact of negative market conditions on the trading portfolio
of the Group's Global Markets units, both under ordinary circumstances and in
situations of heightened risk factors.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The standard metric used to measure market risk
is Value at Risk (&#8220;VaR&#8221;), which indicates the maximum loss that may occur in
the portfolios at a given confidence level (99%) and time horizon (one day).
This statistic value is widely used in the market and has the advantage of
summing up in a single metric the risks inherent to trading activity, taking
into account how they are related and providing a prediction of the loss that
the trading book could sustain as a result of fluctuations in equity prices,
interest rates, foreign exchange rates and credit spreads. The market risk
analysis considers risks, such as credit spread, basis risk as well as
volatility and correlation risk.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-112</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_395"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Most of the
headings on the Group's balance sheet subject to market risk are positions in
the Group&#180;s trading portfolio whose metric for measuring their market risk is
VaR. This table shows the accounting lines of the consolidated balance sheet as
of December 31, 2018, 2017 and 2016</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">in which there is a market
risk in the Group&#180;s trading and non-trading portfolios:</font></font><a name="XBRL_TS_dc080687e0a74e1eb9ee77f5b_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Headings of the
  balance sheet under market risk (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=34% style="border:none;height:20.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 style="border:none;"><b><font color=#003366 face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 style="border:none;"><b><font color=#003366 face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Main market risk metrics - VaR</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Main market risk metrics - </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Others (*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Main market risk metrics - VaR</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Main market risk metrics - </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Others (*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Main market risk metrics - VaR</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Main market risk metrics - </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Others (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Assets subject to
  market risk</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=34% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">57,486</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,459</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">59,008</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">441</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">64,623</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,480</font></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td valign=bottom width=34% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=11% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,652</font></font></p>
  </td>
 <td nowrap width=11% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,125</font></font></p>
  </td>
 <td nowrap width=11% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,661</font></font></p>
  </td>
 <td nowrap width=11% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,083</font></font></p>
  </td>
 <td nowrap width=11% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,119</font></font></p>
  </td>
 <td nowrap width=11% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,771</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:
  Equity instruments</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,046</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,404</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,559</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives - Hedging
  accounting</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">688</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,061</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">829</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,397</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,041</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,415</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Liabilities subject
  to market risk</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=34% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial liabilities
  held for trading</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38,844</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,026</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,468</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,526</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47,491</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,223</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives - Hedging
  accounting</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">550</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">910</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,157</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">638</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,305</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">689</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_ae6a7e02e6e24e3f83342ab2d"></a><a name="XBRL_TS_6c3a8bb4e942456f8bafe74f9"></a><a name="XBRL_TS_d1d2efa28d0f4c839dee62f65"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Includes mainly assets and liabilities managed by ALCO.</font></font><a name="XBRL_FS_ae6a7e02e6e24e3f83342ab2d_bclEnd"></a><a name="XBRL_TS_6c3a8bb4e942456f8bafe74f9_bclEnd"></a><a name="XBRL_TS_d1d2efa28d0f4c839dee62f65_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_3838ac02a2ec40b7aafa22804"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Although the prior table shows
details of the financial positions subject to market risk, it should be noted
that the data are for information purposes only and do not reflect how the risk
is managed in trading activity, where it is not classified into assets and
liabilities.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With respect to the risk measurement models
used in BBVA Group, the Bank of Spain has authorized the use of the internal
model to determine bank capital requirements deriving from risk positions on
the BBVA S.A. and BBVA Bancomer trading book, which jointly account for around
76%, 70% and 66% of the Group&#8217;s trading-book market risk as of December 31,
2018, 2017 and 2016. For the rest of the geographical areas (mainly South
America, Garanti and BBVA Compass), bank capital for the risk positions in the
trading book is calculated using the standard model.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The current management structure includes the
monitoring of market-risk limits, consisting of a scheme of limits based on
VaR, economic capital (based on VaR measurements) and VaR sub-limits, as well
as stop-loss limits for each of the Group&#8217;s business units. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The model used estimates VaR in accordance with
the &quot;historical simulation&quot; methodology, which involves estimating
losses and gains that would have taken place in the current portfolio if the
changes in market conditions that took place over a specific period of time in
the past were repeated. Based on this information, it infers the maximum
expected loss of the current portfolio within a given confidence level. This
model has the advantage of reflecting precisely the historical distribution of
the market variables and not assuming any specific distribution of probability.
The historical period used in this model is two years. The historical
simulation method is used in BBVA S.A., BBVA Bancomer, BBVA Colombia, Compass
Bank and Garanti.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-113</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_396"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:3.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">VaR figures
are estimated following two methodologies:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><a name="_Toc411000321"></a><a name="_Toc411000601"></a><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">VaR without smoothing, which awards
equal weight to the daily information for the previous two years. This is
currently the official methodology for measuring market risks for the purpose
of monitoring compliance with risk limits.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><a name="_Toc411000322"></a><a name="_Toc411000602"></a><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">VaR with smoothing, which gives a
greater weight to more recent market information. This metric supplements the
previous one.</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the case of Global Markets Argentina and
Global Markets Peru a parametric methodology is used to measure risk in terms
of VaR.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">At the same time, and following the guidelines
established by the Spanish and European authorities, BBVA incorporates metrics
in addition to VaR with the aim of meeting the Bank of Spain's regulatory
requirements with respect to the calculation of bank capital for the trading
book. Specifically, the new measures incorporated in the Group since December
2011 (stipulated by Basel 2.5) are:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><a name="_Toc411000323"></a><a name="_Toc411000603"></a><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">VaR: In regulatory terms, the VaR
charge incorporates the stressed VaR charge, and the sum of the two (VaR and
stressed VaR) is calculated. This quantifies the losses associated with the
movements of the two risk factors inherent to market operations (interest
rates, FX, RV, credit, etc.). Both VaR and stressed VaR are rescaled by a
regulatory multiplier set at three and by the square root of ten to calculate
the capital charge.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Specific Risk: Incremental Risk Capital
(&#8220;IRC&#8221;) Quantification of the risks of default and downgrading of the credit
ratings of the bond and credit derivative positions in the portfolio. The
specific capital risk by IRC is a charge exclusively used in the geographical
areas with the internal model approved (BBVA S.A. and Bancomer). The capital
charge is determined according to the associated losses (at 99.9% in a 1-year
horizon under the hypothesis of constant risk) due to the rating migration
and/or default state the issuer of an asset. In addition, the price risk is
included in sovereign positions for the items specified.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Specific Risk: Securitization and
correlation portfolios. Capital charge for securitizations and the correlation
portfolio to include the potential losses associated at the level of rating a
specific credit structure (rating). Both are calculated by the standard method.
The scope of the correlation portfolios refers to the FTD-type market operation
and/or tranches of market CDOs and only for positions with an active market and
hedging capacity.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="_Toc411000326"></a><a name="_Toc411000606"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Validity tests are performed regularly on the risk measurement
models used by the Group. They estimate the maximum loss that could have been
incurred in the positions with a certain level of probability (backtesting), as
well as measurements of the impact of extreme market events on risk positions
(stress testing). As an additional control measure, backtesting is conducted at
trading desk level in order to enable more specific monitoring of the validity
of the measurement models.</font></font><a name="XBRL_TS_3838ac02a2ec40b7aafa22804_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-114</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Market risk in 2018</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="_Toc411000328"></a><a name="_Toc411000608"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group&#8217;s market risk remains at low levels compared to other
risks managed by BBVA, particularly in terms of credit risk. This is due to the
nature of the business. During the financial year 2018 the average VaR was &#8364;21
million, below the figure of 2017, with a high on March 16, 2018 of &#8364;26
million. The evolution in the BBVA Group&#8217;s market risk during 2018, measured as
VaR without smoothing (see Glossary) with a 99% confidence level and a </font></font><a name="XBRL_CS_34b85a54924b49cbbcc9e2ced"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">1-day horizon</font></font><a name="XBRL_CS_34b85a54924b49cbbcc9e2ced_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> (shown in millions of Euros)
is as follows</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">:</font></font><a name="XBRL_TS_4dee15da26a049a89675d8794_bclEnd"></a></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><img border=0 height=416 id="Imagen 1" src="maindocument001x396x0.gif" width=650></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_a7049c9fc8f24967ae99b2151"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">By type of market risk assumed by
the Group's trading portfolio, the main risk factor for the Group continues to
be that linked to interest rates, with a weight of </font></font><a name="XBRL_CS_f247f6a0734448638903b4f2c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">55%</font></font><a name="XBRL_CS_f247f6a0734448638903b4f2c_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> of the total at the end of
year ended December 31, 2018 (this figure includes the spread risk). <a name="XBRL_CS_adf356342a544600a16631eb9"></a>The relative weight has increased
compared with the close of 2017 (<a name="XBRL_CS_bb5a2e7d304c444390a9870a6"></a>48%<a name="XBRL_CS_bb5a2e7d304c444390a9870a6_bclEnd"></a>). Exchange-rate risk
maintains its proportion with respect to 2017 (<a name="XBRL_CS_fdd2ad20a31e4fa2ae066c9f9"></a>14%<a name="XBRL_CS_fdd2ad20a31e4fa2ae066c9f9_bclEnd"></a>)<a name="XBRL_CS_adf356342a544600a16631eb9_bclEnd"></a>, while equity, volatility
and correlation risk have decreased, with a weight of <a name="XBRL_CS_f70ca5441a374760963318b80"></a>31%<a name="XBRL_CS_f70ca5441a374760963318b80_bclEnd"></a> at the close of 2018 (vs. <a name="XBRL_CS_6bcabcc8115f44b1a0ec53574"></a>38%<a name="XBRL_CS_6bcabcc8115f44b1a0ec53574_bclEnd"></a> at the close of 2017).</font></font><a name="XBRL_TS_a7049c9fc8f24967ae99b2151_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_2eeedc5712f74f80b50c71c43"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-115</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, 2017 and 2016 the balance of VaR was &#8364;17 million, &#8364;22
million and &#8364;26 million, respectively. These figures can be broken down as
follows:</font></font><a name="XBRL_TS_2eeedc5712f74f80b50c71c43_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">VaR by Risk Factor
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td nowrap width=34% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest/Spread Risk</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Currency Risk</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Stock-market Risk</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Vega/Correlation Risk</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Diversification Effect(*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">VaR average in the
  year</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">20</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">VaR max in the year</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">VaR min in the year</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(18)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">End of period
  VaR</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(17)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">VaR average in the
  year</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(23)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">VaR max in the year</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(19)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">34</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">VaR min in the year</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(26)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">End of period
  VaR</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(26)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">VaR average in the
  year</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(23)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">29</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">VaR max in the year</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">30</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(23)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">38</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">VaR min in the year</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">End of period
  VaR</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">29</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(24)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_161e1381349a45d1b71db5a6f"></a><a name="XBRL_TS_2f01891ae6eb4eda8a26ddfec"></a><a name="XBRL_TS_1a47175bc6904d40bd29fe291"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; The diversification effect is the difference between the sum
of the average individual risk factors and the total VaR figure that includes
the implied correlation between all the variables and scenarios used in the
measurement.</font></font><a name="XBRL_FS_161e1381349a45d1b71db5a6f_bclEnd"></a><a name="XBRL_TS_1a47175bc6904d40bd29fe291_bclEnd"></a><a name="XBRL_TS_2f01891ae6eb4eda8a26ddfec_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_108afd9549a94f50a09155434"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Validation of the model</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The internal market risk model is validated on
a regular basis by backtesting in both BBVA S.A. and Bancomer. The aim of
backtesting is to validate the quality and precision of the internal market
risk model used by BBVA Group to estimate the maximum daily loss of a
portfolio, at a <a name="XBRL_CS_afbd532a3ee44bd89d59ddd3e"></a>99%<a name="XBRL_CS_afbd532a3ee44bd89d59ddd3e_bclEnd"></a> level of confidence and a
250-day time horizon, by comparing the Group's results and the risk
measurements generated by the internal market risk model. These tests showed
that the internal market risk model of both BBVA, S.A. and Bancomer is adequate
and precise.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Two types
of backtesting have been carried out during 2018, 2017 and 2016:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&quot;Hypothetical&quot; backtesting:
the daily VaR is compared with the results obtained, not taking into account
the intraday results or the changes in the portfolio positions. This validates
the appropriateness of the market risk metrics for the end-of-day position.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&quot;Real&quot; backtesting: the daily
VaR is compared with the total results, including intraday transactions, but
discounting the possible minimum charges or fees involved. This type of
backtesting includes the intraday risk in portfolios.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, each of these two types of
backtesting was carried out at the level of risk factor or business type, thus
making a deeper comparison of the results with respect to risk measurements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">For the period between the year ended December
31, 2017 and the year ended December 31, 2018, the backtesting of the internal
VaR calculation model was carried out, comparing the daily results obtained to
the estimated risk level by the internal VaR calculation model. At the end of
the year the comparison showed the internal VaR calculation model was working
correctly, within the &quot;green&quot; zone (<a name="XBRL_CS_7fc9e7014ae144bca42790d6d"></a>0-4 exceptions<a name="XBRL_CS_7fc9e7014ae144bca42790d6d_bclEnd"></a>), thus validating the
internal VaR calculation model, as has occurred each year since the internal
market risk model was approved for the Group.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-116</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_399"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Stress
test analysis</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A number of
stress tests are carried out on BBVA Group's trading portfolios. First, global
and local historical scenarios are used that replicate the behavior of an
extreme past event, such as for example the collapse of Lehman Brothers or the
&quot;Tequilazo&quot; crisis. These stress tests are complemented with
simulated scenarios, where the aim is to generate scenarios that have a
significant impact on the different portfolios, but without being anchored to
any specific historical scenario. Finally, for some portfolios or positions,
fixed stress tests are also carried out that have a significant impact on the market
variables affecting these positions</font><font color=#222222 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Historical scenarios</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font color=#222222 face=Arial,sans-serif style="border:none;"><font color=#222222 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The historical benchmark stress scenario for the BBVA Group is
Lehman Brothers, whose sudden collapse in September 2008 led to a significant
impact on the behavior of financial markets at a global level. The following
are the most relevant effects of this historical scenario:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Credit shock: reflected mainly in the increase of
credit spreads and downgrades in credit ratings.&nbsp;</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Increased volatility in most of the financial markets
(giving rise to a great deal of variation in the prices of different assets
(currency, equity, debt).</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Liquidity shock in the financial systems, reflected by
a major movement in interbank curves, particularly in the shortest sections of
the euro and dollar curves.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Simulated scenarios</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Unlike the historical scenarios, which are
fixed and therefore not suited to the composition of the risk portfolio at all
times, the scenario used for the exercises of economic stress is based on
Resampling methodology. This methodology is based on the use of dynamic
scenarios are recalculated periodically depending on the main risks held in the
trading portfolios. On a data window wide enough to collect different periods
of stress (data are taken from 1-1-2008 until today), a simulation is performed
by resampling of historic observations, generating a loss distribution and
profits to analyze most extreme of births in the selected historical window.
The advantage of this resampling methodology is that the period of stress is
not predetermined, but depends on the portfolio maintained at each time, and
making a large number of simulations (10,000 simulations) allows a richer
information for the analysis of expected shortfall than what is available in
the scenarios included in the calculation of VaR.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The main features of this approach are: a) the
generated simulations respect the correlation structure of the data, b)
flexibility in the inclusion of new risk factors and c) to allow the
introduction of a lot of variability in the simulations (desirable to consider
extreme events).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The impact of the stress test under multivariable simulation of
the risk factors of the portfolio (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Expected shortfall </font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">95% to 20 days) as
of December 31, 2018 is as follows:</font></font><a name="XBRL_TS_108afd9549a94f50a09155434_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.15pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Millions of Euros</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Europe</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Peru</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Venezuela</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Argentina</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Colombia</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Compass</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=15% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Expected Shortfall</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(99)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(33)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_e37277466ab7428290c8d2f35"></a></h3>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-117</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_400"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:12.0pt;">7.4.2&#160;&#160; Structural risk</font></b></font><a name="XBRL_TS_e37277466ab7428290c8d2f35_bclEnd"></a></h3>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_996f157265804a46909305949"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Assets and Liabilities
Committee (ALCO) is the main responsible body for the management of structural
risks relating to liquidity/funding, interest rates, currency rates, equity and
solvency. Every month, with the assistance of the CEO and representatives from
the areas of Finance, Risks and Business Areas, this committee monitors the
above risks and is presented with proposals for managing them for its approval.
These management proposals are made proactively by the Finance area, taking
into account the risk appetite framework and with the aim of guaranteeing
recurrent earnings and financial stability and preserving the entity's
solvency. All the balance-sheet management units have a local ALCO, assisted
constantly by the members of the Corporate Center. There is also a corporate
ALCO where the management strategies in the Group's subsidiaries are monitored
and presented.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Structural interest-rate risk</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The structural interest-rate risk (&#8220;IRRBB&#8221;) is related to the
potential impact that variations in market interest rates have on an entity's
net interest income and equity. In order to properly measure IRRBB, BBVA takes
into account the main sources that generate this risk: repricing risk, yield
curve risk, option risk and basis risk, which are analyzed from two
complementary points of view: net interest income (short term) and economic
value (long term)</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">ALCO monitors the interest-rate risk metrics and
the Assets and Liabilities Management unit carries out the management proposals
for the structural balance sheet. The management objective is to ensure the
stability of net interest income and book value in the face of changes in
market interest rates, while respecting the internal solvency and limits in the
different balance-sheets and for BBVA Group as a whole; and complying with
current and future regulatory requirements.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA's structural interest-rate risk management
control and monitoring is based on a set of metrics and tools that enable the
entity's risk profile to be monitored correctly. A wide range of scenarios are
measured on a regular basis, including sensitivities to parallel movements in
the event of different shocks, changes in slope and curve, as well as delayed
movements. Other probabilistic metrics based on statistical scenario-simulating
methods are also assessed, such as earnings at risk (&#8220;EaR&#8221;) and economic
capital (&#8220;EC&#8221;), which are defined as the maximum adverse deviations in net interest
income and economic value, respectively, for a given confidence level and time
horizon. Impact thresholds are established on these management metrics both in
terms of deviations in net interest income and in terms of the impact on
economic value. The process is carried out separately for each currency to
which the Group is exposed, and the diversification effect between currencies
and business units is considered after this. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In order to evaluate its effectiveness, the
model is subjected to regular internal validation. In addition, the banking
book&#8217;s interest-rate risk exposures are subjected to different stress tests in
order to reveal balance sheet vulnerabilities under extreme scenarios. This
testing includes an analysis of adverse macroeconomic scenarios designed
specifically by BBVA Research, together with a wide range of potential
scenarios that aim to identify interest-rate environments that are particularly
damaging for the entity. This is done by generating extreme scenarios of a
breakthrough in interest rate levels and historical correlations, giving rise
to sudden changes in the slopes and even to inverted curves.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The model is necessarily underpinned by an
elaborate set of hypotheses that aim to reproduce the behavior of the balance
sheet as closely as possible to reality. Especially relevant among these
assumptions are those related to the behavior of Non Maturity Deposits, for
which stability and remuneration assumptions are established, consistent with
an adequate segmentation by type of product and customer, and prepayment
estimates (implicit optionality). The assumptions are reviewed and adapted, at
least on an annual basis, to signs of changes in behavior, kept properly
documented and reviewed on a regular basis in the internal validation processes.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-118</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_401"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The impacts
on the metrics are assessed both from a point of view of economic value with a
static model (gone concern) and from the perspective of net interest income,
for which a dynamic model (going concern) consistent with the corporate assumptions
of earnings forecasts is used.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The table below shows the profile of average sensitivities to net
interest income and value of the main banks in BBVA Group in 2018:</font></font><a name="XBRL_TS_996f157265804a46909305949_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Sensitivity to
  Interest-Rate Analysis - December 2018</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=41% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">Impact on Net Interest Income (*)</font></b></font></p>
  </td>
 <td colspan=2 width=40% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impact on Economic Value&#160;&#160;&#160;&#160;&#160;&#160; (**)</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC style="border:none;"><b><font color=#0066CC face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100 Basis-Point Increase</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100 Basis-Point Decrease</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100 Basis-Point Increase</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100 Basis-Point Decrease</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=19% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Europe (***)</font></font></p>
  </td>
 <td nowrap width=21% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">+ (5% - 10%)</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- (5% - 10%)</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- (0% - 5%)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- (0% - 5%)</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- (0% - 5%)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">USA</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">+ (5% - 10%)</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- (5% - 10%)</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- (5% - 10%)</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- (0% - 5%)</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- (0% - 5%)</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- (0% - 5%)</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- (0% - 5%)</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=19% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Group</font></b></font></p>
  </td>
 <td nowrap width=21% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">+ (0% - 5%)</font></b></font></p>
  </td>
 <td nowrap width=20% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- (0% - 5%)</font></b></font></p>
  </td>
 <td nowrap width=20% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- (0% - 5%)</font></b></font></p>
  </td>
 <td nowrap width=20% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- (0% - 5%)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_TS_110dc94c30694494a610875be"></a><a name="XBRL_FS_1e51280e7f664f2584bf5ccab"></a><a name="XBRL_TS_e269be7a66e0483aa83602491"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160;&#160;&#160; </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&#160;&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Percentage
of &quot;1 year&quot; net interest income forecast for each unit.</font></font><a name="XBRL_FS_1e51280e7f664f2584bf5ccab_bclEnd"></a><a name="XBRL_TS_e269be7a66e0483aa83602491_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_FS_ef5158ed1db2466dad5b5f84e"></a><a name="XBRL_TS_177abfc7bd6a45ab9141bd880"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(**)&#160;&#160; </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:3.0pt;">&#160;&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Percentage
of Core Capital for each unit.</font></font><a name="XBRL_FS_ef5158ed1db2466dad5b5f84e_bclEnd"></a><a name="XBRL_TS_177abfc7bd6a45ab9141bd880_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_FS_1ece76a57c0f4464a149df31d"></a><a name="XBRL_TS_a109c57ba7f341cca20fe5f7c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(***)&#160; In Europe downward movement including rates below the
current ones.</font></font><a name="XBRL_FS_1ece76a57c0f4464a149df31d_bclEnd"></a><a name="XBRL_TS_110dc94c30694494a610875be_bclEnd"></a><a name="XBRL_TS_a109c57ba7f341cca20fe5f7c_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_45958900f55b4ee38911bace4"></a><a name="XBRL_CS_5847d32a775543cc94b29841d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In 2018 in Europe monetary policy
has remained expansionary, maintaining rates at 0% and the deposit rate at
-0.4%. In USA the rising rate cycle initiated by the Federal Reserve in 2015
has continued. In Mexico and Turkey, the upward cycle has continued because of
volatility of their currencies and inflation prospects. In South America,
monetary policy has continued to be expansive in most of the economies where
the Group operates, with the exception of Argentina, where rates increased and
actions were taken not to increase the monetary basis and slow the inflation.</font></font><a name="XBRL_CS_5847d32a775543cc94b29841d_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group maintains, overall a positive and moderate
sensitivity in its net interest income to an increase in interest rates. The
higher relative net interest income sensitivities are observed in, particularly
Euro and USD. In Europe however, the decrease in interest rates is limited by
the downward path scope in interest rates. The Group maintains a moderate risk
profile, according to its target risk, through effective management of its
balance sheet structural risk.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Structural exchange-rate
risk </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In BBVA Group, structural exchange-rate risk arises from the
consolidation of holdings in subsidiaries with functional currencies other than
the euro. Its management is centralized in order to optimize the joint handling
of permanent foreign currency exposures, taking into account the
diversification. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The corporate Global ALM unit, through ALCO, designs and executes
hedging strategies with the main purpose of controlling the potential negative
effect of exchange-rate fluctuations on capital ratios and on the equivalent
value in euros of the foreign-currency earnings of the Group's subsidiaries,
considering transactions according to market expectations and their cost.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The risk monitoring metrics included in the framework of limits
are integrated into management and supplemented with additional assessment
indicators. At corporate level they are based on probabilistic metrics that
measure the maximum deviation in the Group&#8217;s Capital, CET1 (&#8220;Common Equity Tier
1&#8221;) ratio, and net attributable profit. The probabilistic metrics make it
possible to estimate the joint impact of exposure to different currencies
taking into account the different variability in exchange rates and their
correlations.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-119</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_402"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The suitability of these risk
assessment metrics is reviewed on a regular basis through backtesting
exercises. The final element of structural exchange-rate risk control is the
analysis of scenarios and stress with the aim of identifying in advance
possible threats to future compliance with the risk appetite levels set, so
that any necessary preventive management actions can be taken. The scenarios
are based both on historical situations simulated by the risk model and on the
risk scenarios provided by BBVA Research.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">2018 has been characterized by higher volatility levels of FX
rates in emerging markets. As for the main currencies of the geographies where
the Group operates, it is worth mentioning the <a name="XBRL_CS_5a010f4938434f5a9312247ec"></a><a name="XBRL_CS_3c33a5eeb4e74cf39803cca26"></a>appreciation of Mexican peso and US
Dollar against the euro (around 5% in both cases)<a name="XBRL_CS_3c33a5eeb4e74cf39803cca26_bclEnd"></a><a name="XBRL_CS_5a010f4938434f5a9312247ec_bclEnd"></a>, while Turkish lira and
Argentinian peso have strongly depreciated (<a name="XBRL_CS_0945113134c34220b48bc3239"></a>25%<a name="XBRL_CS_0945113134c34220b48bc3239_bclEnd"></a> and <a name="XBRL_CS_7f850bded8b24e1fab91ae1cc"></a>48%<a name="XBRL_CS_7f850bded8b24e1fab91ae1cc_bclEnd"></a>, respectively) affected by
idiosyncratic factors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group's structural exchange-rate risk exposure level has
remained fairly stable since the end of 2017.&#160; The hedging policy intends to
keep low levels of sensitivity to movements in the exchange rates of emerging
currencies against the euro and focuses on Mexican peso and Turkish lira. <a name="XBRL_CS_15e933a3e8384831b7f193088"></a>The risk mitigation level in capital
ratio due to the book value of BBVA Group's holdings in foreign emerging
currencies stood at around 70% <a name="XBRL_CS_15e933a3e8384831b7f193088_bclEnd"></a>and, as of the end of 2018,
CET1 ratio sensitivity to the appreciation of <a name="XBRL_CS_8eba2a61e97a40428fde8dcdb"></a>1%<a name="XBRL_CS_8eba2a61e97a40428fde8dcdb_bclEnd"></a> in the euro exchange rate
for each currency is: <a name="XBRL_CS_478014ade6ed4947871e857fb"></a>US Dollar
+1.1 bps<a name="XBRL_CS_478014ade6ed4947871e857fb_bclEnd"></a>; <a name="XBRL_CS_b53282913fb3481e8df536d14"></a>Mexican peso -0.2 bps<a name="XBRL_CS_b53282913fb3481e8df536d14_bclEnd"></a>; <a name="XBRL_CS_286ea5d79965481caaffd2690"></a>Turkish Lira -0.2 bps<a name="XBRL_CS_286ea5d79965481caaffd2690_bclEnd"></a>; <a name="XBRL_CS_7674dfcb323e482aa2468cf06"></a>other currencies -0.2 bps<a name="XBRL_CS_7674dfcb323e482aa2468cf06_bclEnd"></a>. On the other hand,
hedging of emerging-currency denominated earnings of 2018 has reached an <a name="XBRL_CS_3b2eb2bbbfd84f978eb77dd66"></a>82%<a name="XBRL_CS_3b2eb2bbbfd84f978eb77dd66_bclEnd"></a>, concentrated in Mexican
peso, Turkish lira and the main Latin American currencies.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Structural equity risk</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA Group's exposure to structural equity risk stems basically
from minority shareholdings in industrial and financial companies held with
long or medium-term investment horizons. This exposure is modulated in some
portfolios with positions held in derivative instruments on the same underlying
assets, in order to adjust the portfolio sensitivity to potential changes in
equity prices.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The management of structural equity portfolios is a responsibility
of the Group's units specialized in this area. Their activity is subject to the
risk management corporate policy on structural equity risk management, complying
with the defined management principles and Risk Appetite Framework.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group's risk management systems also make it possible to
anticipate potential negative impacts and take appropriate measures to prevent
damage being caused to the entity. The risk control and limitation mechanisms
are focused on the exposure, annual performance and economic capital estimated
for each portfolio. Economic capital is estimated in accordance with a
corporate model based on Monte Carlo simulations, taking into account the
statistical performance of asset prices and the diversification existing among
the different exposures. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Stress tests and analyses of sensitivity to different simulated
scenarios are carried out periodically to analyze the risk profile in more
depth. They are based on both past crisis situations and forecasts made by BBVA
Research. This checks that the risks are limited and that the tolerance levels
set by the Group are not at risk.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Backtesting is carried out on a regular basis on the risk
measurement model used. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With regard to the equity markets, the world indexes have closed
the year 2018 with generalized falls and volatility surges in a macro
environment of global growth slowdown, increase of the political uncertainty
and normalization of the monetary policies.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Structural equity risk, measured in terms of economic capital, has
decreased in the period mainly due to lower exposure. </font><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;line-height:115%;">The aggregate sensitivity of the BBVA Group&#8217;s consolidated
equity to a 1% fall in the price of shares of the companies making up the
equity portfolio remained at around &#8364;-<a name="XBRL_CS_163c9edb549543a188d0a3a3f"></a>28<a name="XBRL_CS_163c9edb549543a188d0a3a3f_bclEnd"></a>&nbsp;million as of
December 31, 2018 and &#8364;-<a name="XBRL_CS_cc14857333ea4dc8a69a6b093"></a>32<a name="XBRL_CS_cc14857333ea4dc8a69a6b093_bclEnd"></a> million as of December 31,
2017. This estimation takes into account the exposure in shares valued at
market prices, or if not applicable, at fair value (excluding the positions in
the Treasury Area and the net delta-equivalent positions in derivatives on the
same underlyings.</font></font><a name="XBRL_TS_45958900f55b4ee38911bace4_bclEnd"></a><font color=black face=Arial,sans-serif style="background:white;border:none;">
&nbsp;</font></p>

<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_11618cfd501d42abbd7b17d71"></a><a name="_Toc505356846"></a><a name="_Toc105968"></a><a name="_Toc474142231"></a></h3>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-120</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_403"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:12.0pt;">7.4.3&#160;&#160; Financial Instruments </font></b></font><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:12.0pt;">offset</font></b></font><a name="XBRL_TS_11618cfd501d42abbd7b17d71_bclEnd"></a></h3>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_5d1ed0ab307341468b2680c25"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial
assets and liabilities may be netted, i.e. they are presented for a net amount
on the consolidated balance sheet only when the Group's entities satisfy with
the provisions of IAS 32-Paragraph 42, so they have both the legal right to net
recognized amounts, and the intention of settling the net amount or of
realizing the asset and simultaneously paying the liability.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, the Group has presented as gross amounts assets and
liabilities on the consolidated balance sheet for which there are master
netting arrangements in place, but for which there is no intention of settling
net. The most common types of events that trigger the netting of reciprocal
obligations are bankruptcy of the entity, surpassing certain level of
indebtedness threshold, failure to pay, restructuring and dissolution of the
entity.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the current market context, derivatives are contracted under
different framework contracts being the most widespread developed by the
International Swaps and Derivatives Association (&#8220;ISDA&#8221;) and, for the Spanish
market, the Framework Agreement on Financial Transactions (&#8220;CMOF&#8221;). Almost all
portfolio derivative transactions have been concluded under these framework
contracts, including in them the netting clauses mentioned in the preceding
paragraph as &quot;Master Netting Agreement&quot;, greatly reducing the credit
exposure on these instruments. Additionally, in contracts signed with
professional counterparties, the collateral agreement annexes called Credit
Support Annex (&#8220;CSA&#8221;) are included, thereby minimizing exposure to a potential
default of the counterparty.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Moreover, in transactions
involving assets purchased or sold under a repurchase agreement there is a high
volume transacted through clearing houses that articulate mechanisms to reduce
counterparty risk, as well as through the signature of various master
agreements for bilateral transactions, the most widely used being the Global
Master Repurchase Agreement (GMRA), published by International Capital Market
Association (&#8220;ICMA&#8221;), to which the clauses related to the collateral exchange
are usually added within the text of the master agreement itself.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A summary of the effect of the compensation (via netting and
collateral) for derivatives and securities operations is presented below as of
December 31, 2018, 2017 and 2016:</font></font><a name="XBRL_TS_5d1ed0ab307341468b2680c25_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2018
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td nowrap valign=bottom width=25% style="border:none;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Gross Amounts Not Offset in the Consolidated Balance Sheets (D)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:60.0pt;">
  <td nowrap width=25% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Gross Amounts Recognized (A)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Gross Amounts Offset in the Consolidated Balance Sheets (B)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Net Amount Presented in the Consolidated Balance Sheets (C=A-B)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Financial Instruments</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Cash Collateral Received/ Pledged</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Net Amount (E=C-D)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=25% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Trading and hedging
  derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10, 15</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">49,908</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16,480</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">33,428</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">25,024</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,790</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">613</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=25% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Reverse repurchase,
  securities borrowing and similar agreements</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28,074</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">42</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28,032</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28,022</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">169</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(159)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total Assets</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">77,982</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16,522</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">61,460</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">53,046</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,959</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">454</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=25% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=25% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Trading and hedging
  derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10, 15</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">51,596</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17,101</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">34,494</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">25,024</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,788</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,682</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=25% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Repurchase,
  securities lending and similar agreements</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">43,035</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">42</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">42,993</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">42,877</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">34</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">82</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total
  liabilities</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">94,631</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17,143</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">77,487</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">67,901</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,822</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,765</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2017 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td nowrap valign=bottom width=23% style="border:none;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=23% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Gross Amounts Not Offset in the Consolidated Balance Sheets (D)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:91.5pt;">
  <td nowrap width=23% style="border:none;border-bottom:solid black 1.0pt;height:91.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:91.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:91.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Gross Amounts Recognized (A)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:91.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Gross Amounts Offset in the Consolidated Balance Sheets (B)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:91.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Net Amount Presented in the Consolidated Balance Sheets (C=A-B)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:91.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Financial Instruments</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:91.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Cash Collateral Received/ Pledged</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:91.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Net Amount (E=C-D)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=23% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Trading and hedging
  derivatives</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10, 15</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">49,333</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11,584</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">37,749</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27,106</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:11.25pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,442</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,202</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=23% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Reverse repurchase,
  securities borrowing and similar agreements</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26,426</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">56</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26,369</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26,612</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">141</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(384)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total Assets</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">75,759</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11,641</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">64,118</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">53,717</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,583</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,818</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=23% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=23% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Trading and hedging
  derivatives</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10, 15</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">50,693</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11,644</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">39,049</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27,106</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,328</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,615</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=23% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Repurchase,
  securities lending and similar agreements</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">40,134</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">56</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">40,078</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">40,158</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(101)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total
  liabilities</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">90,827</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11,701</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">79,126</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">67,264</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,349</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,514</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;"></font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2016
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:39.0pt;">
  <td nowrap valign=bottom width=23% style="border:none;height:39.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:39.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:39.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:39.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:39.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=23% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Gross Amounts Not Offset in the Consolidated Balance Sheets (D)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:39.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><font color=#004481 face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:60.0pt;">
  <td nowrap width=23% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Gross Amounts Recognized (A)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Gross Amounts Offset in the Consolidated Balance Sheets (B)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Net Amount Presented in the Consolidated Balance Sheets (C=A-B)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Financial Instruments</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Cash Collateral Received/ Pledged</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Net Amount (E=C-D)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=23% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Trading and hedging
  derivatives</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10, 15</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">59,374</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13,587</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">45,788</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">32,146</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:11.25pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,571</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,070</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=23% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Reverse repurchase,
  securities borrowing and similar agreements</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">25,833</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,912</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22,921</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23,080</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">174</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(333)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total Assets</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">85,208</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16,499</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">68,709</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">55,226</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,745</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,738</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=23% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=23% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Trading and hedging
  derivatives</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10, 15</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">59,545</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14,080</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">45,465</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">32,146</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,272</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,047</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=23% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Repurchase,
  securities lending and similar agreements</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">49,474</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,912</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46,562</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">47,915</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">176</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,529)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total
  liabilities</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">109,019</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16,991</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">92,027</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">80,061</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,448</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,518</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-122</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_405"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_8b7a3420966e4c139c855b4e1"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">7.5&#160;&#160;&#160; Liquidity risk</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc505356848"></a><a name="_Toc474142233"></a><a name="_Toc105972"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">7.5.1&#160;&#160; Liquidity
risk management</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Management of liquidity and
structural finance within the BBVA Group is based on the principle of the
financial autonomy of the entities that make it up. This approach helps prevent
and limit liquidity risk by reducing the Group&#8217;s vulnerability in periods of
high risk. This decentralized management avoids possible contagion due to a crisis
that could affect only one or several BBVA Group entities, which must cover
their liquidity needs independently in the markets where they operate.
Liquidity Management Units (LMUs) have been set up for this reason in the
geographical areas where the main foreign subsidiaries operate, and also for
the parent BBVA S.A.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assets and Liabilities
Management unit manages BBVA Group's liquidity and funding. It plans and
executes the funding of the long-term structural gap of each LMUs and proposes
to ALCO the actions to adopt in this regard in accordance with the policies and
limits established by the Standing Committee.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As first core element, the
Bank's target in terms of liquidity and funding risk is characterized through
the Liquidity Coverage Ratio (LCR) and the Loan-to-Stable-Customer-Deposits
(LtSCD) ratio. LCR is a regulatory measurement aimed at ensuring entities&#8217;
resistance in a scenario of liquidity stress within a time horizon of 30 days.
BBVA, within its risk appetite framework and its limits and alerts schemes, has
established a level of requirement for compliance with the LCR ratio both for
the Group as a whole and for each of the Liquidity Management Units (LMUs)
individually. The internal levels required are geared to comply sufficiently
and efficiently in advance with the implementation of the regulatory
requirement of 2018, at a level above 100%.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">LCR ratio in Europe was
applicable as from October 1, 2015. With an initial 60% minimum requirement,
progressively increased (phased-in) up to 100% in 2018. Throughout the year
2018, LCR level at BBVA Group has been above 100%. As of December 31, 2018, the
LCR ratio at Group level is 127%.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Although this regulatory
requirement is mandatory at a Group level and Eurozone banks, all subsidiaries
are above this minimum. In any case, it should be noted that liquidity excesses
in subsidiaries are not deemed transferable when calculating the consolidated
ratio. Taking into account the impact of these High Quality Liquid Assets
excluded, LCR ratio would be <a name="XBRL_CS_c0ec11f1f4ec4014bc4c5cded"></a>154%<a name="XBRL_CS_c0ec11f1f4ec4014bc4c5cded_bclEnd"></a>, which is <a name="XBRL_CS_18889cd464a14360a94a923fd"></a>+27% above the Group&#8217;s LCR<a name="XBRL_CS_18889cd464a14360a94a923fd_bclEnd"></a>.</font></font><a name="XBRL_TS_8b7a3420966e4c139c855b4e1_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.15pt;">
  <td colspan=3 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LCR main LMU</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td width=78% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=78% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Group </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">127%</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">128%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=78% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Eurozone</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">145%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">151%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=78% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Bancomer</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">154%</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">148%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=78% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Compass(*)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">143%</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">144%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=78% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Garanti</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">209%</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">134%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_FS_42e790f219aa4d658d358e65a"></a><a name="XBRL_TS_d8e573a0c9dc4c158640a6e28"></a><a name="XBRL_TS_402c262dcd32498eb94ab6bc6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160; Compass LCR
calculated according to local regulation (Fed Modified LCR).</font></font><a name="XBRL_FS_42e790f219aa4d658d358e65a_bclEnd"></a><a name="XBRL_TS_402c262dcd32498eb94ab6bc6_bclEnd"></a><a name="XBRL_TS_d8e573a0c9dc4c158640a6e28_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_924dcc1e1ae24c478ce865e8a"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-123</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_406"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The LtSCD
measures the relation between the net loans credit investment and stable
customer deposits. The aim is to preserve a stable funding structure in the
medium term for each of the LMUs making up BBVA Group, taking into account that
maintaining an adequate volume of stable customer funds is key to achieving a
sound liquidity profile.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Stable customer deposits are
defined as the customer funds captured and managed by business units among
their target customers. These funds usually show little sensitivity to market
changes and are largely non-volatile in terms of aggregate amounts per
transaction, thanks to customer linkage to the unit. Stable funds in each LMU
are calculated by analyzing the behavior of the balance sheets of the different
customer segments identified as likely to provide stability to the funding
structure, and by prioritizing an established relationship and applying bigger
haircuts to the funding lines of less stable customers. The main base of stable
funds is composed of deposits by retail individual customers and small
businesses.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">For the purpose of
establishing the (maximum) target levels for LtSCD in each LMU and providing an
optimal funding structure reference in terms of risk appetite, GRM-Structural
Risks identifies and assesses the economic and financial variables that
condition the funding structures in the various geographical areas.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The behavior of the indicators
reflects that the funding structure remained robust in 2018, 2017 and 2016, in
the sense that all the LMUs maintain levels of self-funding with stable
customer funds higher than the required levels.</font></font><a name="XBRL_TS_924dcc1e1ae24c478ce865e8a_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.15pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LtSCD by LMU</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Group (average)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">106%</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">110%</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">113%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Eurozone</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">101%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">108%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">113%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=67% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Bancomer</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">114%</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">109%</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">113%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=67% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Compass</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">119%</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">109%</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">108%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=67% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Garanti</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">110%</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">122%</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">124%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=67% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other LMUs</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">99%</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">108%</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">107%</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_63aa8b1a4ee54b939a09dd158"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-124</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_407"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The second
core element in liquidity and funding risk management is to achieve proper
diversification of the funding structure, avoiding excessive reliance on
short-term funding and establishing a maximum level of short-term funding
comprising both wholesale funding as well as funds from less stable non-retail
customers. Regarding long-term funding, the maturity profile does not show
significant concentrations, which enables adaptation of the anticipated
issuance schedule to the best financial conditions of the markets. Finally,
concentration risk is monitored at the LMU level, with a view to ensuring the
right diversification both per counterparty and per instrument type.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The third element promotes the
short-term resilience of the liquidity risk profile, making sure that each LMU
has sufficient collateral to address the risk of wholesale markets closing.
Basic Capacity is the short-term liquidity risk management and control metric
that is defined as the relationship between the available explicit assets and
the maturities of wholesale liabilities and volatile funds, at different terms
to one year, with special relevance being given to 30 and 90-day maturities.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Each entity maintains an
individual liquidity buffer, both Banco Bilbao Vizcaya Argentaria, S.A. and its
subsidiaries, including BBVA Compass, BBVA Bancomer, Garanti Bank and the Latin
American subsidiaries. The table below shows the liquidity available by
instrument as of December 31, 2018 and 2017 for the most significant entities
based on prudential supervisor&#8217;s information </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">(Commission Implementing Regulations (EU)
2017/2114 of November 9, 2017)</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">:</font></font><a name="XBRL_TS_63aa8b1a4ee54b939a09dd158_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Eurozone</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Bancomer </font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Compass </font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Garanti Bank</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=45% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Cash and withdrawable
  central bank reserves</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,506</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,666</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,667</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,633</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,677</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=45% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Level 1 tradable
  assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,938</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,995</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,490</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,502</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,652</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=45% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Level 2A tradable
  assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">449</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">409</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">510</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=45% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Level 2B tradable
  assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,040</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=45% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other tradable assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,661</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,372</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,043</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">499</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">617</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non tradable assets
  eligible for central banks</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,314</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Cumulated
  Counterbalancing Capacity</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66,594</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,475</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,024</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,634</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,946</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-125</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_408"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Eurozone (1)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Bancomer </font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Compass </font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Garanti Bank</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=45% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Cash and withdrawable
  central bank reserves</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,634</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,649</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,150</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,692</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,083</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=45% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Level 1 tradable
  assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38,954</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,805</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,028</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,705</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,141</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=45% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Level 2A tradable
  assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">386</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">418</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">753</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=45% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Level 2B tradable
  assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,995</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=45% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other tradable assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,734</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,703</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,252</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">962</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,573</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non tradable assets
  eligible for central banks</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,800</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Cumulated
  Counterbalancing Capacity</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66,703</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,644</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,983</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,359</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,828</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_FS_effc9b0ed19b44ba8831d27e2"></a><a name="XBRL_TS_b824a7a8f08c4e149105db86f"></a><a name="XBRL_TS_8ef3bf8a193f468ca933e9844"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(1)&#160; Includes
Spain, Portugal and Rest of Eurasia.</font></font><a name="XBRL_FS_effc9b0ed19b44ba8831d27e2_bclEnd"></a><a name="XBRL_TS_8ef3bf8a193f468ca933e9844_bclEnd"></a><a name="XBRL_TS_b824a7a8f08c4e149105db86f_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_b83605334f404b02b1e3ab8b3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Stress
analyses are also a basic element of the liquidity and funding risk monitoring
system, as they help anticipate deviations from the liquidity targets and
limits set out in the risk appetite as well as establish tolerance ranges at
different management levels. They also play a key role in the design of the
Liquidity Contingency Plan and in defining the specific measures for action for
realigning the risk profile.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">For each of the scenarios, a check is carried out whether BBVA has
sufficient liquid assets to meet the liquidity commitments/outflows in the
various periods analyzed. The analysis considers four scenarios, one core and
three crisis-related: systemic crisis; unexpected internal crisis with a
considerable rating downgrade and/or affecting the ability to issue in
wholesale markets and the perception of business risk by the banking
intermediaries and the BBVA's customers; and a mixed scenario, as a combination
of the two aforementioned scenarios. Each scenario considers the following
factors: liquidity existing on the market, customer behavior and sources of
funding, impact of rating downgrades, market values of liquid assets and
collateral, and the interaction between liquidity requirements and the
performance of the BBVA's asset quality.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The results of these stress analyses carried out regularly reveal
that BBVA has a sufficient buffer of liquid assets to deal with the estimated
liquidity outflows in a scenario such as a combination of a systemic crisis and
an unexpected internal crisis, during a period in general longer than 3 months
for LMUs, including a major downgrade in the BBVA's rating (by up to three
notches).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Beside the results of stress exercises and risk metrics, Early
Warning Indicators play an important role in the corporate model and also in
the Liquidity Contingency Plan. These are mainly financing structure indicators,
related to asset encumbrance, counterparty concentration, outflows of customer
deposits, unexpected use of credit lines, and market indicators, which help to
anticipate potential risks and capture market expectations.</font></font><a name="XBRL_TS_b83605334f404b02b1e3ab8b3_bclEnd"></a></p>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_7a950764a9e14076a2efd4dac"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-126</font></font><font style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Arial;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_409"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Below is a matrix of residual maturities by contractual periods
based on supervisory prudential reporting as of December 31, 2018, 2017 and
2016:</font></font><a name="XBRL_TS_7a950764a9e14076a2efd4dac_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td colspan=12 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2018.
  Contractual Maturities (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap width=30% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand </font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Up to 1 Month</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 3 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 6 Months</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6 to 9 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9 to 12 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 2 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 to 3 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 5 Years </font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 5 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=30% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=30% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Cash, cash balances
  at central banks and other demand deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,550</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,599</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">50,149</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits in credit
  entities</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">801</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,211</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">216</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">141</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">83</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">152</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">133</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">178</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,269</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,211</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits in other
  financial institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,408</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">750</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">664</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">647</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">375</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,724</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">896</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,286</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,764</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,515</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Reverse repo,
  securities borrowing and margin lending</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,266</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,655</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,158</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">805</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">498</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">205</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,352</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">390</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">210</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,539</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and Advances</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">132</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,825</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,939</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,265</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,347</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,433</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,100</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,336</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53,386</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">120,571</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">349,334</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Securities' portfolio
  settlement</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,875</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,379</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,990</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,148</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,823</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,592</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,423</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,533</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,738</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">96,501</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=12 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2018.
  Contractual Maturities (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td nowrap width=30% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand </font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Up to 1 Month</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 3 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 6 Months</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6 to 9 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9 to 12 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 2 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 to 3 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 5 Years </font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 5 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=30% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Wholesale funding</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,678</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,652</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,160</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,425</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,736</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,225</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,578</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,040</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,363</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69,858</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td valign=bottom width=30% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits in financial
  institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,107</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,599</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">751</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,992</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">377</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,240</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,149</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">229</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">196</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">904</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,544</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td valign=bottom width=30% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits in other
  financial institutions and international agencies</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,680</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,327</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,580</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">458</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">302</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">309</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">781</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">304</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">825</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,692</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,258</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td valign=bottom width=30% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">252,630</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44,866</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,514</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,625</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,217</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,345</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,667</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,137</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,207</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,310</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">350,518</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td valign=bottom width=30% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Security pledge
  funding</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46,489</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,219</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,274</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">114</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">97</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,911</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">526</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">218</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,627</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">76,515</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td valign=bottom width=30% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives, net</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(75)</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(523)</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(68)</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5)</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(117)</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">498</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(91)</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(67)</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(392)</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(840)</font></b></font></p>
  </td>
 </tr>
</table></div>



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<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-127</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=12 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2017. Contractual Maturities (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:61.5pt;">
  <td width=30% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand </font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Up to 1 Month</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 3 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 6 Months</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6 to 9 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9 to 12 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 2 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 to 3 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 5 Years </font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 5 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=30% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td valign=bottom width=30% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Cash, cash balances
  at central banks and other demand deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,179</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,029</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39,208</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td valign=bottom width=30% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits in credit
  entities</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">252</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,391</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">181</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">169</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">120</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">122</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">116</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">112</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">157</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,868</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,488</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=30% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits in other
  financial institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">939</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">758</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">796</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">628</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">447</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,029</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">681</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">806</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,975</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,060</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=30% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Reverse repo,
  securities borrowing and margin lending</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,979</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,689</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,921</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">541</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">426</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">815</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">727</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">226</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,354</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td valign=bottom width=30% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and Advances</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">267</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,203</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,323</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,606</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,380</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,516</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43,973</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,383</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">50,809</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">123,568</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">358,028</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=30% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Securities' portfolio
  settlement</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,579</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,159</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,423</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,380</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,391</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,789</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,289</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,070</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44,666</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">99,747</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;"></font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=12 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2017.
  Contractual Maturities (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:52.5pt;">
  <td width=30% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand </font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Up to 1 Month</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 3 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 6 Months</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6 to 9 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9 to 12 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 2 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 to 3 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 5 Years </font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 5 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=30% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Wholesale funding</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,648</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,209</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,238</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,227</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,456</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,772</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,432</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,391</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30,162</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">76,535</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits in financial
  institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,831</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,863</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,082</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,335</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">392</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,714</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">930</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">765</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">171</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,429</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,512</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits in other
  financial institutions and international agencies</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,700</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,827</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,290</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,959</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">554</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,328</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">963</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">286</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">355</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,045</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,307</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">233,068</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">45,171</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,616</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,428</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,711</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,368</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,607</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,612</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,833</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,034</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">341,448</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Security pledge
  funding</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,502</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,284</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,405</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">396</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">973</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">64</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,009</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">338</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,697</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">65,668</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives, net</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(18)</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(110)</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(116)</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(135)</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(117)</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(336)</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(91)</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(106)</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(419)</font></font></p>
  </td>
 <td nowrap valign=bottom width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,448)</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-128</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_411"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=12 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2016. Contractual Maturities (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:61.5pt;">
  <td width=30% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand </font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Up to 1 Month</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 3 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 6 Months</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6 to 9 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9 to 12 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 2 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 to 3 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 5 Years </font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 5 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:61.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=30% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Cash, cash balances
  at central banks and other demand deposits</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,191</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,825</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37,016</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits in credit
  entities</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">991</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,068</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">254</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">155</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">72</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">117</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">122</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,087</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,002</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits in other
  financial institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,192</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">967</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">675</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">714</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">532</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,330</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">918</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">942</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">336</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,608</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Reverse repo,
  securities borrowing and margin lending</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,232</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">544</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">523</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">428</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">500</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">286</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">124</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">189</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,826</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and Advances</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">591</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,272</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,990</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,318</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,212</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,613</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44,956</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,093</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55,561</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">133,589</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">370,195</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Securities' portfolio
  settlement</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">708</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,566</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,688</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,301</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,312</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,320</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,010</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,662</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">51,472</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">112,039</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=12 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2016.
  Contractual Maturities (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:52.5pt;">
  <td width=30% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand </font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Up to 1 Month</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 3 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 6 Months</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6 to 9 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9 to 12 Months</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 2 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 to 3 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 5 Years </font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 5 Years</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=30% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=30% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Wholesale funding</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">419</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,380</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,943</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,547</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,463</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,967</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,825</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,963</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,016</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,875</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">85,397</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits in financial
  institutions</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,762</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,365</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,181</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,104</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">800</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,176</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">746</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,156</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">859</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,714</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,862</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits in other
  financial institutions and international agencies</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,375</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,542</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,624</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,382</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,566</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,897</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,340</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">686</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">875</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,825</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44,114</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">206,140</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49,053</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,522</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,736</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,863</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,343</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,619</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,060</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">781</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">936</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">335,052</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Security pledge
  funding</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38,153</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,561</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,403</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,004</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">912</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,281</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">640</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,959</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,712</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">72,626</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=30% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives, net</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,123)</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(95)</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(190)</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(111)</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(326)</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(132)</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(82)</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(105)</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(47)</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3,210)</font></b></font></p>
  </td>
 </tr>
</table></div>










<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_768d0f55ec4c432eae8a7921b"></a><a name="XBRL_CS_a440082872c641e2a40580e3f"></a><a name="XBRL_CS_ac0d4520278840df9f5759239"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-129</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_412"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The matrix
shows the retail nature of the funding structure, with a loan portfolio being
mostly funded by customer deposits (66%). On the outflows side of the matrix,
the &#8220;demand&#8221; maturity bucket mainly contains the retail customer sight accounts
whose behavior historically showed a high level of stability and little
concentration. According to a behavior analysis which is done every year in
every entity, this type of account is considered to be stable and for liquidity
risk purposes, it is estimated that 78% have a maturity of more than 5 years.</font></font><a name="XBRL_CS_a440082872c641e2a40580e3f_bclEnd"></a><a name="XBRL_CS_ac0d4520278840df9f5759239_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_CS_05f9e15593e547c191ca742c2"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the Euro Liquidity Management Unit (LMU), solid liquidity and
funding situation, where activity has continued to generate liquidity through
the decrease of Credit Gap</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, during 2018 the Euro LMU made 3 issues in the public
market for &#8364;<a name="XBRL_CS_c04cdea624eb4d7382cbcc8e2"></a>3,500<a name="XBRL_CS_c04cdea624eb4d7382cbcc8e2_bclEnd"></a> million; </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Senior Non
Preferred (&#8220;SNP&#8221;) at 5 years for &#8364;<a name="XBRL_CS_0414dda3d25e4479bd4f81419"></a>1,500<a name="XBRL_CS_0414dda3d25e4479bd4f81419_bclEnd"></a> million, Green bond SNP at
7 years for &#8364;<a name="XBRL_CS_c32d2c420ce64f29ad14ce136"></a>1,000<a name="XBRL_CS_c32d2c420ce64f29ad14ce136_bclEnd"></a> million and AT1 for &#8364;<a name="XBRL_CS_3b0c5063c4f5410ab9ff28624"></a>1,000<a name="XBRL_CS_3b0c5063c4f5410ab9ff28624_bclEnd"></a> million, which</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> have allowed it to obtain
long-term funding at favorable price conditions. These public operations</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> have been
complemented by a private issue T2 for USD <a name="XBRL_CS_67a624d40aab4252879cdcbc3"></a>300<a name="XBRL_CS_67a624d40aab4252879cdcbc3_bclEnd"></a> million.</font></font><a name="XBRL_CS_05f9e15593e547c191ca742c2_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_CS_017c6c6ab382441b82f9ba74c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In Mexico, sound liquidity position despite the market volatility,
the Credit Gap has increased in 2018 due to a minor increase in deposits mainly
because of the outflows of non-profitable USD deposits. During the financial
year 2018, BBVA Bancomer made a local Tier II issuance on international markets
for USD </font></font><a name="XBRL_CS_9d24940796c54352861a9a515"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">1,000</font></font><a name="XBRL_CS_9d24940796c54352861a9a515_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> million as well as an issuance on the local
market for <a name="XBRL_CS_dde506963c1c4790947e65016"></a>7,000<a name="XBRL_CS_dde506963c1c4790947e65016_bclEnd"></a> million of Mexican pesos
in 2 tranches: at 3 and 5 years, being the 3 years tranche the first Green Bond
issued by a private bank.</font></font><a name="XBRL_CS_017c6c6ab382441b82f9ba74c_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_CS_56943bd8139a4fa48f2610fb7"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the United States, the
containment of the cost of liabilities has led to a slightly increase in the
credit gap. During the financial year 2018, BBVA Compass successfully issued 3
year senior debt for USD </font></font><a name="XBRL_CS_50c5cc7e619a40cdbcde6e70c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">1,150</font></font><a name="XBRL_CS_50c5cc7e619a40cdbcde6e70c_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> million.</font></font><a name="XBRL_CS_56943bd8139a4fa48f2610fb7_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_CS_08f66844f57c44989c88a48a5"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In Turkey an adequate liquidity
situation is maintained, after having been affected by the currency volatility
at the beginning of the second semester. Despite this, Garanti showed a good
performance with the roll-over of the 2018 maturities of corporate funding. The
main operations during the year were two syndicated loans for USD </font></font><a name="XBRL_CS_e4bf01ceed7d45e08884b4ae1"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">2,300</font></font><a name="XBRL_CS_e4bf01ceed7d45e08884b4ae1_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> million, the first Green Bond
at 6 years for USD <a name="XBRL_CS_84d73987e3f2491ba05269d82"></a>75<a name="XBRL_CS_84d73987e3f2491ba05269d82_bclEnd"></a> million and </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">future flows securitization</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">
(Diversified Payment Rights) for USD <a name="XBRL_CS_5d4caa1b16bc43dfa926f6c8f"></a>375<a name="XBRL_CS_5d4caa1b16bc43dfa926f6c8f_bclEnd"></a> million at 7 years.</font></font><a name="XBRL_CS_08f66844f57c44989c88a48a5_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Argentina was affected by the
market volatility but no relevant impact on the liquidity situation of the
entity has been noted. BBVA Franc&#233;s maintains a solid liquidity situation
distinguished by a major volume of cash reserves.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The liquidity position of the rest of subsidiaries has continued
to be sound, maintaining a solid liquidity position in all the jurisdictions in
which the Group operates. Access to capital markets of these subsidiaries has
also been maintained with recurring issuances in the local market.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In this context, BBVA has maintained its objective of
strengthening the funding structure of the different Group entities based on
growing their self-funding from stable customer funds, while guaranteeing a
sufficient buffer of fully available liquid assets, diversifying the various
sources of funding available, and optimizing the generation of collateral
available for dealing with stress situations in the markets.</font></font><a name="XBRL_TS_768d0f55ec4c432eae8a7921b_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_156b4a4e5d514a3fa0623dc42"></a><a name="_Toc474142234"></a><a name="_Toc505356849"></a><a name="_Toc105973"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-130</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_413"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">7.5.2&#160;&#160;
Asset encumbrance</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and 2016, the encumbered (those
provided as collateral for certain liabilities) and unencumbered assets are
broken down as follows:</font></font><a name="XBRL_TS_156b4a4e5d514a3fa0623dc42_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=34% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Encumbered assets</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-Encumbered assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Book value of Encumbered assets</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Market value of Encumbered assets</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Book value of non-encumbered assets</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Market value of non-encumbered assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Assets</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=34% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,864</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,864</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,485</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,485</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt Securities</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,157</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,216</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82,209</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82,209</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and Advances
  and other assets</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">74,928</font></font></p>
  </td>
 <td nowrap width=17% style="background:#A6A6A6;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">478,880</font></font></p>
  </td>
 <td nowrap width=16% style="background:#A6A6A6;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=30% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=36% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Encumbered assets</font></b></font></p>
  </td>
 <td colspan=2 width=34% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-Encumbered assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=30% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Book value of Encumbered assets</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Market value of Encumbered assets</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Book value of non-encumbered assets</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Market value of non-encumbered assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Assets</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:white;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:white;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=30% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,297</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,297</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,616</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,616</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt Securities</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,700</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,798</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">84,391</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">84,391</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=30% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and Advances
  and other assets</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">79,604</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="background:#A6A6A6;height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">485,451</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% style="background:#A6A6A6;height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=34% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Encumbered assets</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-Encumbered assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Book value of Encumbered assets</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Market value of Encumbered assets</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Book value of non-encumbered assets</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Market value of non-encumbered assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Assets</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=34% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,214</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,214</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,022</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,022</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt Securities</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,114</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39,972</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90,679</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90,679</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and Advances
  and other assets</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">94,718</font></font></p>
  </td>
 <td nowrap width=17% style="background:#A6A6A6;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">495,109</font></font></p>
  </td>
 <td nowrap width=16% style="background:#A6A6A6;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_473365b47cc542849475aafbc"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-131</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_414"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
committed value of &quot;Loans and Advances and other assets&quot; corresponds
mainly to loans linked to the issue of covered bonds, territorial bonds or
long-term securitized bonds (see Note 22.3) as well as those used as a
guarantee to access certain funding transactions with central banks. Debt
securities and equity instruments correspond to underlying that are delivered
in repos with different types of counterparties, mainly clearing houses or
credit institutions, and to a lesser extent central banks. Collateral provided
to guarantee derivative transactions is also included as committed assets.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and 2016, collateral pledge mainly
due to repurchase agreements and securities lending, and those which could be
committed in order to obtain funding are provided below:</font></font><a name="XBRL_TS_473365b47cc542849475aafbc_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2018.
  Collateral received (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:72.75pt;">
  <td nowrap width=46% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Fair value of encumbered collateral received or own debt
  securities issued</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Fair value of collateral received or own debt securities issued
  available for encumbrance</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Nominal amount of collateral received or own debt securities
  issued not available for encumbrance</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Collateral
  received</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,474</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,633</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">319</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=46% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">89</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,385</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,542</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">300</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and Advances
  and other assets</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Own debt securities
  issued other than own covered bonds or ABSs</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2017.
  Collateral received (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:72.75pt;">
  <td nowrap width=46% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Fair value of encumbered collateral received or own debt
  securities issued</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Fair value of collateral received or own debt securities issued
  available for encumbrance</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Nominal amount of collateral received or own debt securities
  issued not available for encumbrance</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Collateral
  received</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,881</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,630</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">201</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=46% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">103</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=46% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,715</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,619</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">121</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and Advances
  and other assets</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">80</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Own debt securities
  issued other than own covered bonds or ABSs</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">161</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2016.
  Collateral received (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:72.75pt;">
  <td width=50% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Fair value of encumbered collateral received or own debt
  securities issued</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Fair value of collateral received or own debt securities issued
  available for encumbrance</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Nominal amount of collateral received or own debt securities
  issued not available for encumbrance</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=50% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Collateral
  received</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,921</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,039</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">173</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=50% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">59</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=50% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,863</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,230</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=50% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and Advances
  and other assets</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,750</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">144</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=50% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Own debt securities
  issued other than own covered bonds or ABSs</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_bbf5641a5d97466e92f029dcd"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-132</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_415"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
guarantees received in the form of reverse repurchase agreements or security
lending transactions are committed by their use in repurchase agreements, as is
the case with debt securities.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="Nota_8"></a><a name="_Toc341276318"></a><a name="Nota_8_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and 2016, financial liabilities
issued related to encumbered assets in financial transactions as well as their
book value were as follows</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">:</font></font><a name="XBRL_TS_bbf5641a5d97466e92f029dcd_bclEnd"></a></p>

<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=3 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2018.
  Sources of encumbrance (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:101.25pt;">
  <td nowrap width=62% style="border:none;border-bottom:solid black 1.0pt;height:101.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:101.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Matching liabilities, contingent liabilities or securities lent</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:101.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Assets, collateral received and own</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">debt securities issued other than covered bonds and ABSs
  encumbered</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=62% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Book value of
  financial liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">113,498</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">131,172</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=62% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,972</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,036</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=62% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and Advances</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">85,989</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">97,361</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=62% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Outstanding
  subordinated debt</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,538</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,775</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=62% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other sources</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,972</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,330</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=3 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2017.
  Sources of encumbrance (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.6pt;">
  <td nowrap width=62% style="border:none;border-bottom:solid black 1.0pt;height:30.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:30.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Matching liabilities, contingent liabilities or securities lent</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:30.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Assets, collateral received and own</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">debt securities issued other than covered bonds and ABSs
  encumbered</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=62% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Book value of
  financial liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">118,704</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">133,312</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=62% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,843</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,103</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=62% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and Advances</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87,484</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">98,478</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=62% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Outstanding
  subordinated debt</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,377</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,732</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=62% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other sources</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">305</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,028</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=3 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2016.
  Sources of encumbrance (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td width=66% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Matching liabilities, contingent liabilities or securities lent</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Assets, collateral received and own</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">debt securities issued other than covered bonds and ABSs
  encumbered</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=66% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Book value of
  financial liabilities</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">134,387</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">153,632</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,304</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,794</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and Advances</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">96,137</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">108,268</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Outstanding
  subordinated debt</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,946</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,569</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=66% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other sources</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,594</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p align=left style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-133</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">7.6&#160;&#160;&#160;
Operational Risk</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA defines operational risk (&#8220;OR&#8221;) as any
risk that could result in losses caused by human errors, inadequate or faulty
internal processes, misconduct with clients or in the markets, failures,
disruptions or deficiencies of systems or communications, inadequate data
management, legal risks and, lastly, from external events, including
cyberattacks, frauds committed by third parties, disasters and an
unsatisfactory service provided by suppliers.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Operational risk management is oriented towards
the identification of the root causes to avoid their occurrence and mitigate
possible consequences. This is carried out through the establishment of
mitigation plans and control frameworks aimed at minimizing resulting losses
and their impact on the recurrent generation of income and the profit of the
Group. Operational risk management is integrated into the global risk
management structure of the BBVA Group.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This section addresses general aspects of
operational risk management as the main component of non-financial risks.
However, sections devoted to conduct and compliance risk and to cybersecurity
risk management are also included in this report.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Operational Risk Management
Principles</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The BBVA Group is committed to preferably
applying advanced operational risk management models, regardless of the capital
calculation regulatory model applicable at the time. Operational risk
management at the BBVA Group shall:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Be in </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">line</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> with the Risk Appetite
Framework approved by BBVA's Board of Directors.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Meet
BBVA&#8217;s management needs arising from compliance with rules, regulation,
industry standards and from decisions or positions taken by the governing
bodies of the Group.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Predict
potential operational risks to which the Group shall be exposed as a result of
the emergence or changes on new products, activities, processes or systems and
services procurement or outsourcing decisions; and establish mechanisms to
achieve a reasonable assessment and mitigation before implementation, in
addition to a regular review on all existing processes.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Establish
methodologies, procedures and indicators to regularly reassess the relevant
operational risks to which the Group is exposed to implement the most
appropriate mitigation measures in each case, once the identified risk and the
mitigation cost have been considered (cost-benefit analysis) and preserving the
solvency of the Group at all times.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Seek the
causes behind the operational events suffered by the Group and establish the
appropriate redressing measures (always considering the cost-benefit analysis).
To that end, procedures for analyzing operational events must be in place, in
addition to mechanisms to capture the potential operational losses resulting
from those events.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Analyze
the public events with significant operational risk in other entities and to
promote, if applicable, the implementation of the appropriate measures to avoid
its occurrence in the Group.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Identify,
analyze and try to quantify events with a low probability of occurrence and a
high impact that, due to their exceptional nature, may not be included in the loss
database or, if included, with not highly representative impacts, in order to
assess possible mitigation measures.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Have an
effective governance on which the functions and responsibilities of the Areas
and Bodies intervening in OR management are clearly defined.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Irrespective of the implementation of all the
possible measures and controls designed to avoid or mitigate the frequency and
severity of OR events, BBVA ensures at all times the capital required to face
potential expected or unexpected losses.</font></font><a name="XBRL_TS_ed29057d5fc04f93adb373a84_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Operational risk control and
management model</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
operational risk management cycle at BBVA is similar to the one implemented for
the rest of risks. Its elements are:</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Planning</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Operational
risk forms part of the risk appetite framework of the Group and includes three
types of metrics: </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Economic
capital calculated with the operational losses database of the Group and the
industry, considering the corresponding diversification effects and the
additional estimation of potential and emerging risks through stress scenarios
designed for the main types of risks. The economic capital is regularly
calculated for the main banks of the group and simulation capabilities are
available to anticipate the impact of changes on the risk profile or new
potential events.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">IRO metrics
(operational risk losses vs. gross income) broken down by geography, business
area and type of risk.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In
addition, </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">work</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> is in progress on the implementation in the entire group of a common and
more granular scheme of metrics that covers the main types of operational
risks.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Operational risk admission</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The main purposes of the operational risk admission phase are the
following:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Anticipate
potential operational risks to which the Group would be exposed with the
emergence of </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">new</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">
initiatives (new business, product, outsourcing, process transformation, new
systems, etc.) or changes in those initiatives in place.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Ensure</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> that the implementation is carried out once the appropriate
mitigation measures have been adopted, among others risk insurance, where
appropriate.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Corporate Policy on Operational Risk Management and Control
sets out the specific operational risk admission framework through different
committees, at a corporate and Business Area level, that follow a delegation
structure based on the risk level of proposed initiatives.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Operational risk monitoring</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The purpose of this phase is to check that the target operational
risk profile of the group is within the authorized limits. Operational risk
monitoring considers 2 scopes:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Monitoring
the operational risk admission process, oriented towards checking that accepted
risks </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">levels</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> are within the limits and that defined controls are effective.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Monitoring
the operational risk &#8220;stock&#8221; linked to the processes, in order to carry out a
regular </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">reassessment</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> to confirm that residual risks and target risk are reasonably
aligned and, if not, to implement action plans to redress gaps to the desired
level.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This process is supported by a corporate
Governance, Risk &amp; Compliance tool that monitors OR at a local level and
its aggregation at a corporate level.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, and in line with the best
practices and recommendations provided by the BIS, BBVA has procedures to
collect the operational losses occurred in the different entities of the Group
and in other financial groups, with the appropriate level of detail to carry
out an effective analysis that provides useful information for management
purposes. To that end, a corporate tool implemented in all the countries of the
Group is used.</font></font><a name="XBRL_TS_c3e0b87ecfb04034a4d666ce6_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-135</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Operational risk mitigation</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Several cross-sectional operational risk plans have been promoted
over the last two years for the entire BBVA Group to encourage a
forward-looking management of these risks. To that end, focuses have been
identified from events, self-assessments and recommendations from auditors and
supervisors in different geographies, both in the Group and the industry,
thereby analyzing the best practices and fostering comprehensive action plans
to strengthen and standardize the control environment.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">One of the core plans is outsourcing management, which is an
increasingly important subject in the Group, the industry and the regulatory
environment. Some of the different initiatives launched under this scheme are
summarized below:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Strengthening</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> the admission process of these initiatives and their control and
monitoring frameworks.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">New</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">
internal regulation comprising the best practices of the industry.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Integration</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> in the 3 lines of defense control model: roles and
responsibilities in each phase of its life cycle.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Risk </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">management</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> of the service and the
supplier.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Review</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> of its governance process, which is included in operational risk
governance, and escalation criteria.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Adaptation</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> of the management tool to the new requirements.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Internal
communication process and training between outsourcing units and senior
management, including </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">these</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> issues on the agenda of the main control committees of the Group.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This plan will still be promoted in the year 2019 with a focus on
a review of the most significant outsourcing stock.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Governance of Non-financial risks</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The non-financial risks governance model at the BBVA Group is
based on two components:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">three</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> lines of defense control
model, in accordance with the best practices of the industry and through which
compliance with the most advanced standards in terms of operational risk
internal control is ensured.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Scheme</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> of Corporate Assurance Committees and Operational Risk and
Internal Control Committees at the level of the different business areas.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Corporate Assurance establishes a structure of corporate and local
committees that provides Senior </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Management with a comprehensive and consistent view of
the most relevant non-financial risks. The purpose</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> is to
ensure a forward-looking and prompt decision-making process for the mitigation
or taking of the major risks both at a local level and at the level of the
consolidated Group.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, the Non-Financial Risks unit periodically reports the
Risk Committee of the Board on the situation of non-financial risks management
in the Group.</font></font><a name="XBRL_TS_851f885b78694a2d823a5d41b_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_60f178959a4e4d6784dcac9a5"></a><a name="_Toc474142236"></a><a name="_Toc505356851"></a><a name="_Toc105975"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-136</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">7.7&#160;&#160;&#160;
Risk concentration</font></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Policies for preventing
excessive risk concentration </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In order to prevent the build-up of excessive risk concentrations
at the individual, sector and portfolio levels, BBVA Group maintains updated
maximum permitted risk concentration indices which are tied to the various
observable variables related to concentration risk</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Together with the limits for individual
concentration, the Group uses the Herfindahl index to measure the concentration
of the Group's portfolio and the banking group's subsidiaries. At the BBVA
Group level, the index reached implies a &quot;very low&quot; degree of
concentration.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The limit on the Group&#8217;s exposure or financial
commitment to a specific customer therefore depends on the customer&#8217;s credit
rating, the nature of the risks involved, and the Group&#8217;s presence in a given
market, based on the following guidelines:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The aim is, as much as possible, to reconcile the customer's
credit needs (commercial/financial, short-term/long-term, etc.) with the
interests of the Group.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Any legal limits that may exist concerning risk concentration are
taken into account (relationship between risks with a customer and the capital
of the shareholder&#180;s entity that assumes them), the markets, the macroeconomic
situation, etc.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Risk concentrations by
geography</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the main figures in the most
significant foreign currencies in the accompanying consolidated balance sheets
is set forth in Appendix IX.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Sovereign risk concentration
</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Sovereign risk management</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The risk associated with the transactions
involving sovereign risk is identified, measured, controlled and tracked by a
centralized unit integrated in the BBVA Group&#8217;s Risk Area. Its basic functions
involve the preparation of reports in the countries where sovereign risk exists
(called &#8220;financial programs&#8221;), tracking such risks, assigning ratings to these
countries and, in general, supporting the Group in terms of reporting
requirements for any transactions involving sovereign risk. The risk policies
established in the financial programs are approved by the relevant risk
committees.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The country risk unit tracks the evolution of
the risks associated with the various countries to which the Group are exposed
(including sovereign risk) on an ongoing basis in order to adapt its risk and
mitigation policies to any macroeconomic and political changes that may occur.
Moreover, it regularly updates its internal ratings and forecasts for these
countries. The methodology is based on the assessment of quantitative and
qualitative parameters which are in line with those used by certain
multilateral organizations such as the International Monetary Fund (IMF) and
the World Bank, rating agencies and export credit organizations.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">For additional information on sovereign risk in
Europe see Appendix IX.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Valuation and impairment
methods</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The valuation methods used to assess the
instruments that are subject to sovereign risks are the same ones used for
other instruments included in the relevant portfolios and are detailed in Note
8.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-137</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Specifically,
the fair value of sovereign debt securities of European countries has been
considered equivalent to their listed price in active markets (Level 1 as
defined in Note 8).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Risk related to the
developer and Real-Estate sector in Spain</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The relative weight of the investment in Real Estate developments
has dramatically decreased during the last years, especially since 2014. A
corporate sales policy has been rolled out to eliminate those real estate
assets from the balance sheet which have been most difficult to be
commercialized. The sales of 80% of the Group&#8217;s share in Divarian and of other
performing and NPL wholesale portfolios to Funds and specialized investors have
been some of the most relevant transactions (see Note 3).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Policies and strategies
established by the Group to deal with risks related to the developer and
real-estate sector</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA has teams specializing in the management
of the Real-Estate Sector risk, given its economic importance and specific
technical component. This specialization is not only in the Risk-Acceptance
teams, but throughout the handling, commercial, problem risks and legal, etc.
It also includes the research department of the BBVA Group (BBVA Research),
which helps determine the medium/long-term vision needed to manage this
portfolio.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The policies established to address the risks related to the
developer and real-estate sector, aim to accomplish, among others, the
following objectives: to avoid concentration in terms of customers, products
and regions; to estimate the risk profile for the portfolio; and to anticipate
possible worsening of the portfolio within a sector is highly cyclic</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Specific policies for
analysis and admission of new developer risk transactions</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the analysis of new operations, the
assessment of the commercial operation in terms of the economic and financial viability
of the project has been one of the constant.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The monitoring of the work, the sales and the
legal situation of the project are essential aspects for the admission and
follow-up of new real estate operations. With regard the participation of the
Risk Acceptance teams, they have a direct link and participate in the
committees of areas such as Valuation, Legal, Research and Recoveries. This
guarantees coordination and exchange of information in all the processes.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The following strategies have been implemented with customers in
the developer sector: avoidance of large corporate transactions, which had
already reduced their share in the years of greatest market growth.
Additionally, very restrictive limits have been established for the second-home
market and for the of land operations. Feasibility studies, at project level,
are performed by doing a contrast analysis in the pre-commercialization phase,
with an appropriate funding cycle and in locations with low commercialization
risk</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Risk
monitoring policies</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The base information for analyzing the real
estate portfolios is updated monthly. The tools used include the so-called
&#8220;watch-list&#8221;, which is updated monthly with the progress of each client under
watch, and the different strategic plans for management of special groups.
There are plans that involve an intensification of the review of the portfolio
for financing land, while, in the case of ongoing promotions, they are
classified based on the rate of progress of the projects. This implies a
comparison of the progress of the work and the sales, including a scoreboard
which enables the persons in charge to detect timely any deviation from the
project&#8217;s initial plan.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These actions have enabled BBVA to identify
possible impairment situations, by always keeping an eye on BBVA&#8217;s position
with each customer (whether or not as first creditor). In this regard, key
aspects include management of the risk policy to be followed with each
customer, contract review, improved collateral and rate review (repricing.
Since 2013, </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">there
are no threats of new defaults in the portfolio</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Proper management of the relationship with each
customer requires knowledge of various aspects such as an analysis of the
company&#8217;s future viability, the updating of the information on the debtor and
the guarantors (their current situation and business course, economic-financial
information, debt analysis and generation of funds), and the updating of the
appraisal of the assets offered as collateral.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The volume of restructurings during the last
period has been very low, being close to 0.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Policies applied in the
management of real estate assets in Spain</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Regarding the financing of real estate, a new regulation has been
updated in 2018 in which recommendations for the promotion of residential real
estate are established.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The recommendations represent guidelines about how to manage the
credit admission activity of BBVA Group entities based on best practices of
markets in which this activity is performed. It is expected that a high
percentage of the current transactions will be in compliance with the latter.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The guidelines apply to new transactions with clients which are
not classified as impaired or Watchlist (WL1 or WL2).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The policies deriving from the guidelines foresee a prudential
intervention in a market which has changed its cycle in almost all of the
geographies and which is showing a more sustainable behavior in terms of
demography, employment and economic and investment capacities.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">For quantitative information about the risk related to the
developer and Real-Estate sector in Spain see Appendix IX.</font></font><a name="XBRL_TS_60f178959a4e4d6784dcac9a5_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_a1087a3c6a9a40c1817158c06"></a><a name="_Toc105976"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;layout-grid-mode:char;">8.&#160;&#160;&#160; Fair Value of
financial instruments</font></b></font><a name="XBRL_TS_a1087a3c6a9a40c1817158c06_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_4f8a18f7ce9b4d98ab873e569"></a><a name="_Toc105977"></a><font color=#004580 style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Framework and processes control</font></b></font><a name="XBRL_TS_4f8a18f7ce9b4d98ab873e569_bclEnd"></a><font color=#004580 style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_63302fc57bd84b148f295052c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As part of
the process established in the Group for determining the fair value in order to
ensure that financial assets and liabilities are properly valued, BBVA has
established, at a geographic level, a structure of Risk Operational Admission
and Product Governance Committees responsible for validating and approving new
products or types of financial assets and liabilities before being contracted.
Local management responsible for valuation, which are independent from the
business (see Note 7) are members of these committees.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">These areas
are required to ensure, prior to the approval stage, the existence of not only
technical and human resources, but also adequate informational sources to
measure the fair value of these financial assets and liabilities, in accordance
with the rules established by the Group and using models that have been
validated and approved by the responsible areas.</font></font><a name="XBRL_TS_63302fc57bd84b148f295052c_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_320ed3c17ebf484d95519bd40"></a><a name="_Toc105978"></a><font color=#004580 style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Fair value hierarchy</font></b></font><a name="XBRL_TS_320ed3c17ebf484d95519bd40_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_c1a0901437e04718b54a1fcbe"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The fair
value of financial instrument is defined as the price that would be received to
sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date. It is therefore a market-based
measurement and not specific to each entity.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">All financial
instruments, both assets and liabilities are initially recognized at fair
value, which at that point is equivalent to the transaction price, unless there
is evidence to the contrary in the market. Subsequently, depending on the type
of financial instrument, it may continue to be recognized at amortized cost or
fair value through adjustments in the consolidated income statement or equity.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">When possible,
the fair value is determined as the market price of a financial instrument.
However, for many of the financial assets and liabilities of the Group,
especially in the case of derivatives, there is no market price available, so
its fair value is estimated on the basis of the price established in recent
transactions involving similar instruments or, in the absence thereof, by using
mathematical measurement models that are sufficiently tried and trusted by the
international financial community. The estimates of the fair value derived from
the use of such models take into consideration the specific features of the
asset or liability to be measured and, in particular, the various types of risk
associated with the asset or liability. However, the limitations inherent in
the measurement models and possible inaccuracies in the assumptions and
parameters required by these models may mean that the estimated fair value of
an asset or liability does not exactly match the price for which the asset or
liability could be exchanged or settled on the date of its measurement.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Additionally,
for financial assets and liabilities that show significant uncertainty in
inputs or model parameters used for valuation, criteria is established to
measure said uncertainty and activity limits are set based on these. Finally, these
measurements are compared, as much as possible, against other sources such as
the measurements obtained by the business teams or those obtained by other
market participants.</font></font><a name="XBRL_TS_c1a0901437e04718b54a1fcbe_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_979849f46e7f49239eb4c65ab"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The process
for determining the fair value requires the classification of the financial
assets and liabilities according to the measurement processes used as set forth
below:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Level 1: Valuation using directly the
quotation of the instrument, observable and readily and regularly available
from independent price sources and referenced to active markets that the entity
can access at the measurement date. The instruments classified within this
level are fixed-income securities, equity instruments and certain derivatives. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Level 2: Valuation of financial
instruments with commonly accepted techniques that use inputs obtained from
observable data in markets.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Level 3: Valuation of financial
instruments with valuation techniques that use significant unobservable inputs
in the market. As of December 31, 2018, the affected instruments at fair value
accounted for approximately 0.56% of financial assets and 0.46% of the Group&#8217;s
financial liabilities recorded at fair value. Model selection and validation is
undertaken by control areas outside the business areas.</font></font><a name="XBRL_TS_979849f46e7f49239eb4c65ab_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_3d9ca81d5e1d4615be0fb9f62"></a><a name="_Toc105979"></a><font style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">8.1&#160;&#160; Fair value of financial instrument</font></b></font><a name="XBRL_TS_3d9ca81d5e1d4615be0fb9f62_bclEnd"></a><font style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_0cdcec3059164f6aa088a16d1"></a><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Below is a
comparison of the carrying amount of the Group&#8217;s financial instruments in the
accompanying consolidated balance sheets and their respective fair values.</font></font><a name="XBRL_TS_0cdcec3059164f6aa088a16d1_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair Value and
  Carrying Amount (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=67% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Carrying Amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Fair Value</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=67% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Cash, cash balances
  at central banks and other demand deposits</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">58,196</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">58,196</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">90,117</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">90,117</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=67% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Non-trading financial
  assets mandatorily at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,135</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,135</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td nowrap width=67% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets
  designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,313</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,313</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td nowrap width=67% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets at
  fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">56,337</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">56,337</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets at
  amortized cost</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">419,660</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">419,857</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Hedging derivatives </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,892</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,892</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  held for trading </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">80,774</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">80,774</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=67% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  designated at fair value through profit or loss </font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,993</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,993</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=67% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  at amortized cost </font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">509,185</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">510,300</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=67% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Hedging derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,680</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,680</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair Value and
  Carrying Amount (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=45% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Carrying Amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Fair Value</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Carrying Amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Fair Value</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=45% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=45% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Cash, cash balances
  at central banks and other demand deposits</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">42,680</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">42,680</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">40,039</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">40,039</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">64,695</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">64,695</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">74,950</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">74,950</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=45% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets
  designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,709</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,709</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,062</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,062</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=45% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Available-for-sale
  financial assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">69,476</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">69,476</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">79,221</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">79,221</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=45% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Loans and receivables</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">431,521</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">438,991</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">465,977</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">468,844</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=45% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Held-to-maturity
  investments</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13,754</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13,865</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17,696</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17,619</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=45% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Derivatives &#8211; Hedge
  accounting</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,485</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,485</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,833</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,833</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=45% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=45% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  held for trading </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46,182</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46,182</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">54,675</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">54,675</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=45% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,222</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,222</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,338</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,338</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=45% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  at amortized cost</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">543,713</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">544,604</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">589,210</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">594,190</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=45% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Derivatives &#8211; Hedge
  accounting</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,880</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,880</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,347</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,347</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_50c4af58003949839269051a4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">2017 and
2016 are presented separately due to the implementation of IFRS 9</font><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.&nbsp;</font></font><a name="XBRL_TS_50c4af58003949839269051a4_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_30cffc852c0a4a188ebd3d065"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Not all
financial assets and liabilities are recorded at fair value, so below we
provide the information on financial instruments recorded at fair value and
subsequently the information of those recorded at amortized cost (including
their fair value), although this value is not used when accounting for these
instruments.</font></font><a name="XBRL_TS_30cffc852c0a4a188ebd3d065_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:-36.0pt;"><a name="XBRL_TS_35ced1241a74498aaa60fe893"></a><a name="_Toc105980"></a><a name="_Toc474142239"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-141</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_424"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:-36.0pt;"><font style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">8.1.1
Fair value of financial instrument recognized at fair value, according to
valuation criteria</font></b></font><a name="XBRL_TS_35ced1241a74498aaa60fe893_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_afde7e714be9436c9693f36fa"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Below are
the different elements used in the valuation technique of financial instruments.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=#004580 style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Active Market</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA considers active market as &#8220;a market that allows
the observation of bid and offer prices representative of the levels to which
the market participants are willing to negotiate an asset, with sufficient
frequency and volume&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">By default, BBVA would consider all internally
approved &#8220;Organized Markets&#8221; as active markets, without considering this an
unchangeable list. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Furthermore, BBVA would consider as traded in an
&#8220;Organized Market&#8221; quotations for assets or liabilities from OTC markets when
they are obtained from independent sources, observable on a daily basis and
fulfil certain conditions.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The following
table shows the financial instruments carried at fair value in the accompanying
consolidated balance sheets, broken down by the measurement technique used to
determine their fair value:</font></font><a name="XBRL_TS_afde7e714be9436c9693f36fa_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Fair Value of
  financial Instruments by Levels (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=56% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 style="border:none;"><font color=#094FA4 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=33% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 style="border:none;"><b><font color=#0A5FB4 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 1</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 2</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSETS-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26,730</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">62,983</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">404</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Loans and advances
  to customers</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28,642</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities </font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,884</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,494</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">199</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity instruments </font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,194</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,605</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26,846</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">85</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=56% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-trading financial
  assets mandatorily at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,127</font></font></p>
  </td>
 <td nowrap width=11% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">78</font></font></p>
  </td>
 <td nowrap width=11% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,929</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,778</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">90</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">71</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">76</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,012</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial assets
  designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,313</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,313</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial assets at
  fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">45,824</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,323</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,190</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">33</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43,788</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,211</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">711</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,003</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">113</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">479</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Hedging derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,882</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIABILITIES-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial liabilities
  held for trading </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22,932</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">57,573</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">269</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Deposits</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,989</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29,945</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Trading derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,919</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27,628</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">267</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,024</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial liabilities
  designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,478</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,515</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">976</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt certificates</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,858</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">643</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,515</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=56% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Derivatives &#8211; Hedge
  accounting</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">223</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,454</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-142</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_425"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Fair Value of financial Instruments by Levels&#160; (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=26% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 style="border:none;"><font color=#094FA4 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=32% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2017</font></b></font></p>
  </td>
 <td colspan=3 width=31% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 style="border:none;"><b><font color=#0A5FB4 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 1</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 2</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 3</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 1</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 2</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSETS-</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 style="border:none;"><b><font color=#094FA4 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 style="border:none;"><b><font color=#094FA4 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 style="border:none;"><b><font color=#094FA4 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 style="border:none;"><b><font color=#094FA4 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 style="border:none;"><b><font color=#094FA4 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 style="border:none;"><b><font color=#094FA4 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 style="border:none;"><b><font color=#094FA4 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29,057</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">35,349</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">289</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32,544</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42,221</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">184</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Loans and advances
  to customers</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">56</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">154</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities </font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21,107</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,444</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26,720</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">418</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity instruments </font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,688</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">33</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">80</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,570</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">96</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,262</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">33,815</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">187</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,254</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41,640</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial assets
  designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,061</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">648</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,062</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Loans and advances
  to customers</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">648</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Loans and advances
  to credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">174</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">142</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,888</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,920</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Available-for-sale
  financial assets </font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">57,381</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,082</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">544</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">62,125</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15,894</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">637</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54,850</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,948</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">454</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">58,372</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15,779</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">429</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,531</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">134</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">90</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,753</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">115</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">208</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Hedging derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,483</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,792</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIABILITIES-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial liabilities
  held for trading </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,191</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">34,866</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">125</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12,502</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42,120</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,183</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">34,866</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">119</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">952</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42,120</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Short positions </font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,008</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,550</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial liabilities
  designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,222</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,338</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=26% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Derivatives &#8211; Hedge
  accounting</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">274</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,606</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">94</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,189</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">64</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_65c48df2ae5147dd9f74aaf79"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The years 2017 and 2016 are
presented separately due to the implementation of IFRS 9.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial
instruments carried at fair value corresponding to the companies that belong to
Banco Provincial Group in Venezuela whose balance is denominated in </font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&#8220;bolivares
fuertes&#8221;</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> are classified under Level 3 in the above tables (see Note
2.2.20).</font></font><a name="XBRL_TS_65c48df2ae5147dd9f74aaf79_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_1d8eb0d5656d4cf5bed8b7ae2"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
following table sets forth the main valuation techniques, hypothesis and inputs
used in the estimation of fair value of the financial instruments classified
under Levels 2 and 3, based on the type of financial asset and liability and
the corresponding balances as of December 31, 2018:</font></font><a name="XBRL_TS_1d8eb0d5656d4cf5bed8b7ae2_bclEnd"></a><font style="border:none;">
&nbsp;</font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-143</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_426"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Fair Value of financial Instruments by Levels. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#0A5FB4 style="border:none;"><b><font color=#0A5FB4 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 2</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 3</font></b></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Valuation technique(s)</font></b></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Observable inputs</font></b></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Unobservable inputs</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial assets held
  for trading</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">62,983</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">404</font></b></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=19% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28,642</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60</font></font></p>
  </td>
 <td width=22% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Present-value method</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=22% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Issuer&#180;s credit risk</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Current market interest rates</font></font></p>
  </td>
 <td width=21% style="border:none;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Prepayment rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Issuer&#180;s credit risk</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">- Recovery rates</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=19% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities </font></font></p>
  </td>
 <td nowrap width=8% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,494</font></font></p>
  </td>
 <td nowrap width=8% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">199</font></font></p>
  </td>
 <td width=22% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Present-value method</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(Discounted future cash flows)</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Observed prices in non active markets</font></font></p>
  </td>
 <td width=22% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Issuer&#180;s credit risk</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Current market interest rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">- Non active markets prices</font></font></p>
  </td>
 <td width=21% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Prepayment rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Issuer&#180;s credit risk</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">- Recovery rates</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity instruments </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60</font></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Comparable pricing (Observable price in a similar market)</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Present-value method</font></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Brokers quotes</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Market operations</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- NAVs published</font></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- NAV provided by the administrator of the fund</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26,846</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">85</font></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:49.5pt;">
  <td nowrap width=19% style="border:none;height:49.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Interest rate</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="border:none;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Interest rate products (Interest rate swaps, Call money Swaps y FRA):
  Discounted cash flows</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Caps/Floors: Black, Hull-White y&#160; SABR</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Bond options: Black</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;Swaptions: Black, Hull-White y LGM</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other Interest rate options: Black, Hull-White y LGM</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Constant Maturity Swaps: SABR</font></font></p>
  </td>
 <td width=22% style="border:none;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted future prices</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets prices: shares, funds, commodities</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable volatilities&#160; </font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit spread levels</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed correlations</font></font></p>
  </td>
 <td width=21% style="border:none;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Beta</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Implicit correlations between tenors</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- interest rates volatility</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=19% style="height:33.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity</font></font></p>
  </td>
 <td nowrap width=8% style="height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Future and Equity Forward: Discounted future cash flows</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Equity Options: Local Volatility, Momentum adjustment </font></font></p>
  </td>
 <td width=22% style="height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted future prices</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets prices: shares, funds, commodities</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable volatilities&#160; </font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit spread levels</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed correlations</font></font></p>
  </td>
 <td width=21% style="height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Volatility of volatility</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Implicit assets correlations</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Long term implicit correlations</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Implicit dividends and long term repos</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=19% style="height:24.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td nowrap width=8% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Future and Equity Forward: Discounted future cash flows</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Foreign exchange Options: Local Volatility, moments adjustment</font></font></p>
  </td>
 <td width=22% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted future prices</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets prices: shares, funds, commodities</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable volatilities&#160; </font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit spread levels</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed correlations</font></font></p>
  </td>
 <td width=21% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Volatility of volatility</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Implicit assets correlations</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">- Long term implicit correlations</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td nowrap width=19% style="height:41.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit</font></font></p>
  </td>
 <td nowrap width=8% style="height:41.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="height:41.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Credit Derivatives: Default model and Gaussian copula</font></font></p>
  </td>
 <td width=22% style="height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted future prices</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets prices: shares, funds, commodities</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable volatilities&#160; </font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit spread levels</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed correlations</font></font></p>
  </td>
 <td width=21% style="height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Correlation default</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Credit spread</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Recovery rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Interest rate yield</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Default volatility</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Commodities</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Commodities: Momentum adjustment and Discounted cash flows</font></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted future prices</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets prices: shares, funds, commodities</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable volatilities&#160; </font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit spread levels</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed correlations</font></font></p>
  </td>
 <td width=21% style="background:#DADADA;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-trading financial
  assets mandatorily at fair value through profit or loss</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">78</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,929</font></b></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:37.5pt;">
  <td width=19% style="border:none;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,778</font></font></p>
  </td>
 <td width=22% style="border:none;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Present-value method</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(Discounted future cash flows)</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Specific criteria for the liquidation of losses established by the EPA
  protocol</font></font></p>
  </td>
 <td width=22% style="background:#BFBFBF;border:none;height:37.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=21% style="border:none;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Prepayment rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Issuer credit risk</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Recovery rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">- PD and LGD</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=19% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities </font></font></p>
  </td>
 <td nowrap width=8% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">71</font></font></p>
  </td>
 <td nowrap width=8% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">76</font></font></p>
  </td>
 <td width=22% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Present-value method</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=22% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Issuer credit risk</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Current market interest rates</font></font></p>
  </td>
 <td width=21% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Prepayment rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Issuer credit risk</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Recovery rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75</font></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Present-value method</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Issuer credit risk</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Current market interest rates</font></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Prepayment rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Issuer credit risk</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Recovery rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial assets at
  fair value through other comprehensive income</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,323</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,190</font></b></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td nowrap width=19% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Debt securities </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,211</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">711</font></font></p>
  </td>
 <td width=22% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Present-value method</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(Discounted future cash flows)</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Observed prices in non active markets</font></font></p>
  </td>
 <td width=22% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Issuer&#180;s credit risk</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Current market interest rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">- Non active market prices</font></font></p>
  </td>
 <td width=21% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Prepayment rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Issuer credit risk</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Recovery rates</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">113</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">479</font></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Comparable pricing (Observable price in a similar market)</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Present-value method</font></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Brokers quotes</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Market operations</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- NAVs published</font></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- NAV provided by the administrator of the fund</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Hedging
  derivatives</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,882</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></b></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:49.5pt;">
  <td nowrap width=19% style="border:none;height:49.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Interest rate</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="border:none;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Interest rate products (Interest rate swaps, Call money Swaps y FRA):
  Discounted cash flows</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Caps/Floors: Black, Hull-White y&#160; SABR</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Bond options: Black</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;Swaptions: Black, Hull-White y LGM</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other Interest rate options: Black, Hull-White y LGM</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Constant Maturity Swaps: SABR</font></font></p>
  </td>
 <td width=22% style="border:none;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted future prices</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets prices: shares, funds, commodities</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable volatilities&#160; </font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit spread levels</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed correlations</font></font></p>
  </td>
 <td width=21% style="background:#D9D9D9;border:none;height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=19% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Future and Equity Forward: Discounted future cash flows</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Equity Options: Local Volatility, Momentum
  adjustment </font></font></p>
  </td>
 <td width=22% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted future prices</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets prices: shares, funds, commodities</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable volatilities&#160; </font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit spread levels</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed correlations</font></font></p>
  </td>
 <td width=21% style="background:#D9D9D9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=19% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Future and Equity Forward: Discounted future cash flows</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Foreign exchange Options: Local Volatility, moments adjustment</font></font></p>
  </td>
 <td width=22% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted future prices</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets prices: shares, funds, commodities</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable volatilities&#160; </font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit spread levels</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed correlations</font></font></p>
  </td>
 <td width=21% style="background:#D9D9D9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit</font></font></p>
  </td>
 <td nowrap width=8% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Credit Derivatives: Default model and Gaussian copula</font></font></p>
  </td>
 <td width=22% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted future prices</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets prices: shares, funds, commodities</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable volatilities&#160; </font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit spread levels</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed correlations</font></font></p>
  </td>
 <td width=21% style="background:#D9D9D9;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Commodities</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Commodities: Momentum adjustment and Discounted cash flows</font></font></p>
  </td>
 <td width=22% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted future prices</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest rates</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets prices: shares, funds, commodities</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable volatilities&#160; </font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit spread levels</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed correlations</font></font></p>
  </td>
 <td width=21% style="background:#D9D9D9;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Fair Value of
  financial Instruments by Levels. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2018
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Valuation technique(s)</font></b></font></p>
  </td>
 <td rowspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Observable inputs</font></b></font></p>
  </td>
 <td rowspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Unobservable inputs</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 style="border:none;"><b><font color=#0A5FB4 face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial liabilities
  held for trading </font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">57,573</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">269</font></b></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=19% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Deposits</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29,945</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=22% style="border:none;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=22% style="border:none;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27,628</font></font></p>
  </td>
 <td nowrap width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">267</font></font></p>
  </td>
 <td width=22% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=21% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:49.5pt;">
  <td nowrap width=19% style="height:49.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Interest rate</font></font></p>
  </td>
 <td width=8% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Interest rate
  products (Interest rate swaps, Call money Swaps y FRA): Discounted cash flows</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Caps/Floors: Black,
  Hull-White y&#160; SABR</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Bond options: Black</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;Swaptions: Black,
  Hull-White y LGM</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other Interest rate
  options: Black, Hull-White y LGM</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Constant Maturity
  Swaps: SABR</font></font></p>
  </td>
 <td width=22% style="height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted
  future prices</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest
  rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets
  prices: shares, funds, commodities</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable
  volatilities&#160; </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit
  spread levels</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed
  correlations</font></font></p>
  </td>
 <td width=21% style="height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Beta</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Correlation between
  tenors</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- interest rates
  volatility</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=19% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity</font></font></p>
  </td>
 <td width=8% style="height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Future and Equity
  Forward: Discounted future cash flows</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Equity Options: Local
  Volatility, Momentum adjustment </font></font></p>
  </td>
 <td width=22% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted
  future prices</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest
  rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets
  prices: shares, funds, commodities</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable
  volatilities&#160; </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit
  spread levels</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed
  correlations</font></font></p>
  </td>
 <td width=21% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Volatility of
  volatility</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Assets correlation</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=19% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td width=8% style="height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Future and Equity
  Forward: Discounted future cash flows</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Foreign exchange
  Options: Local Volatility, moments adjustment</font></font></p>
  </td>
 <td width=22% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted
  future prices</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest
  rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets
  prices: shares, funds, commodities</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable
  volatilities&#160; </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit
  spread levels</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed
  correlations</font></font></p>
  </td>
 <td width=21% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Volatility of
  volatility</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Assets correlation</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td nowrap width=19% style="height:41.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit</font></font></p>
  </td>
 <td width=8% style="height:41.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="height:41.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Credit Derivatives:
  Default model and Gaussian copula</font></font></p>
  </td>
 <td width=22% style="height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted
  future prices</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest
  rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets
  prices: shares, funds, commodities</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable
  volatilities&#160; </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit
  spread levels</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed
  correlations</font></font></p>
  </td>
 <td width=21% style="height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Correlation default</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Credit spread</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Recovery rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Interest rate yield</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Default volatility</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Commodities</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Commodities: Momentum
  adjustment and Discounted cash flows</font></font></p>
  </td>
 <td width=22% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted
  future prices</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest
  rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets
  prices: shares, funds, commodities</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable
  volatilities&#160; </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit
  spread levels</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed
  correlations</font></font></p>
  </td>
 <td width=21% style="background:#DADADA;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Short positions </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Present-value method</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(Discounted future
  cash flows)</font></font></p>
  </td>
 <td width=22% style="background:#D9D9D9;border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Correlation default</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Credit spread</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Recovery rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">- Interest rate yield</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial liabilities
  designated at fair value through profit or loss</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,478</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,515</font></b></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Present-value method</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(Discounted future
  cash flows)</font></font></p>
  </td>
 <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Prepayment rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Issuer&#180;s credit
  risk</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">- Current market
  interest rates</font></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Prepayment rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Issuer&#180;s credit
  risk</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">- Current market
  interest rates</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Derivatives &#8211;
  Hedge accounting</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,454</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></b></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:49.5pt;">
  <td nowrap width=19% style="border:none;height:49.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Interest rate</font></font></p>
  </td>
 <td width=8% style="border:none;height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="border:none;height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="border:none;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Interest rate
  products (Interest rate swaps, Call money Swaps y FRA): Discounted cash flows</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Caps/Floors: Black,
  Hull-White y&#160; SABR</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Bond options: Black</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;Swaptions: Black,
  Hull-White y LGM</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other Interest rate
  options: Black, Hull-White y LGM</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Constant Maturity
  Swaps: SABR</font></font></p>
  </td>
 <td width=22% style="border:none;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted
  future prices</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest
  rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets
  prices: shares, funds, commodities</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable
  volatilities&#160; </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit
  spread levels</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed
  correlations</font></font></p>
  </td>
 <td width=21% style="border:none;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Beta</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Implicit
  correlations between tenors</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- interest rates
  volatility</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=19% style="height:33.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity</font></font></p>
  </td>
 <td width=8% style="height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Future and Equity
  Forward: Discounted future cash flows</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Equity Options: Local
  Volatility, Momentum adjustment </font></font></p>
  </td>
 <td width=22% style="height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted
  future prices</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest
  rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets
  prices: shares, funds, commodities</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable
  volatilities&#160; </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit
  spread levels</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed
  correlations</font></font></p>
  </td>
 <td width=21% style="height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Volatility of
  volatility</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Implicit assets
  correlations</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Long term implicit
  correlations</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Implicit dividends
  and long term repos</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=19% style="height:24.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td width=8% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Future and Equity
  Forward: Discounted future cash flows</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Foreign exchange
  Options: Local Volatility, moments adjustment</font></font></p>
  </td>
 <td width=22% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted
  future prices</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest
  rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets
  prices: shares, funds, commodities</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable
  volatilities&#160; </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit
  spread levels</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed
  correlations</font></font></p>
  </td>
 <td width=21% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Volatility of
  volatility</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Implicit assets
  correlations</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">- Long term implicit
  correlations</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td nowrap width=19% style="height:41.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit</font></font></p>
  </td>
 <td width=8% style="height:41.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="height:41.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Credit Derivatives:
  Default model and Gaussian copula</font></font></p>
  </td>
 <td width=22% style="height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted
  future prices</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest
  rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets
  prices: shares, funds, commodities</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable
  volatilities&#160; </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit
  spread levels</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed
  correlations</font></font></p>
  </td>
 <td width=21% style="height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Correlation default</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Credit spread</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Recovery rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Interest rate yield</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">- Default volatility</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=19% style="height:8.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Commodities</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=22% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Commodities: Momentum
  adjustment and Discounted cash flows</font></font></p>
  </td>
 <td width=22% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Exchange rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market quoted
  future prices</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market interest
  rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Underlying assets
  prices: shares, funds, commodities</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market observable
  volatilities&#160; </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Issuer credit
  spread levels</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Quoted dividends</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-&#160; Market listed
  correlations</font></font></p>
  </td>
 <td width=21% style="background:#DADADA;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>




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</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_efca9a70ae5743b087f6126f5"></a><a name="_Toc105981"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font color=#004580 style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Main valuation techniques</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The main
techniques used for the assessment of the majority of the financial instruments
classified in Level 3, and its main unobservable inputs, are described below:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The net present value (net present
value method): This technique uses the future cash flows of each debt security,
which are established in the different contracts, and discounted to their
present value. This technique often includes many observable inputs, but may
also include unobservable inputs, as described below:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Credit Spread: This input represents the difference in
yield of a debt security and the reference rate, reflecting the additional
return that a market participant would require to take the credit risk of that
debt security. Therefore, the credit spread of the debt security is part of the
discount rate used to calculate the present value of the future cash flows.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Recovery rate: This input represents the percentage of
principal and interest recovered from a debt instrument that has defaulted.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Comparable prices (similar asset
prices): This input represents the prices of comparable financial instruments
and benchmarks used to calculate a reference yield based on relative movements
from the entry price or current market levels. Further adjustments to account
for differences that may exist between financial instrument being valued and
the comparable financial instrument may be added. It can also be assumed that
the price of the financial instrument is equivalent to the comparable
instrument.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Net asset value: This input represents
the total value of the financial assets and liabilities of a fund and is
published by the fund manager thereof.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Gaussian copula: This model is used to
integrate default probabilities of credit instruments referenced to more than
one underlying CDS. The joint density function used to value the instrument is
constructed by using a Gaussian copula that relates the marginal densities by a
normal distribution, usually extracted from the correlation matrix of events
approaching default by CDS issuers.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Black 76: variant of Black Scholes
model, whose main application is the valuation of bond options, cap floors and
swaptions where the behavior of the Forward and not the Spot itself, is
directly modeled.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Black Scholes: The Black Scholes model
postulates log-normal distribution for the prices of securities, so that the
expected return under the risk neutral measure is the risk free interest rate.
Under this assumption, the price of vanilla options can be obtained
analytically, so that inverting the Black- Scholes formula, the implied
volatility for process of the price can be calculated.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Heston: This model, typically applied
to equity OTC options, assumes stochastic behavior of volatility. According to
which, the volatility follows a process that reverts to a long-term level and
is correlated with the underlying equity instrument. As opposed to local
volatility models, in which the volatility evolves deterministically, the
Heston model is more flexible, allowing it to be similar to that observed in
the short term today.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Libor market model: This model assumes
that the dynamics of the interest rate curve can be modeled based on the set of
forward contracts that compose the underlying interest rate. The correlation
matrix is parameterized on the assumption that the correlation between any two
forward contracts decreases at a constant rate, beta, to the extent of the
difference in their respective due dates. The input &#8220;Credit default volatility&#8221;
is a volatility input of the credit factor dynamic. The multifactorial frame of
this model makes it ideal for the valuation of instruments sensitive to the
slope or curve, including interest rate option.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Local Volatility: In the local
volatility models of the volatility, instead of being static, evolves over time
according to the level of moneyness of the underlying, capturing the existence
of smiles. These models are appropriate for pricing path dependent options when
use Monte Carlo simulation technique is used.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Adjustments to the valuation for risk of default</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Under IFRS 13 the credit risk valuation adjustments must be
considered in the classification of assets and liabilities within fair value
hierarchy, because of the absence of observables data of probabilities of
default used in the calculation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The credit valuation adjustments (&#8220;CVA&#8221;) and debit valuation
adjustments (&#8220;DVA&#8221;) are a part of derivative instrument valuations, both
financial assets and liabilities, to reflect the impact in the fair value of
the credit risk of the counterparty and BBVA, respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These adjustments are calculated by estimating Exposure At
Default, Probability of Default and Loss Given Default, for all derivative
products on any instrument at the legal entity level (all counterparties under
a same ISDA / CMOF) in which BBVA has exposure.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As a general rule, the calculation of CVA is done through
simulations of market and credit variables to calculate the expected positive
exposure, given the Exposure at Default and multiplying the result by the Loss
Given Default of the counterparty. Consequently, the DVA is calculated as the
result of the expected negative exposure given the Exposure at Default and
multiplying the result by the Loss Given Default of the counterparty. Both
calculations are performed throughout the entire period of potential exposure.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The information needed to calculate
the exposure at default and the loss given default come from the credit markets
(Credit Default Swaps or iTraxx Indexes), where rating is available. For those
cases where the rating is not available, BBVA implements a mapping process
based on the sector, rating and geography to assign probabilities of both
probability of default and loss given default, calibrated directly to market or
with an adjustment market factor for the probability of default and the
historical expected loss. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amounts recognized in the consolidated balance sheet as of
December 31, 2018 and 2017 related to the valuation adjustments to the credit
assessment of the derivative asset as &#8220;Credit Valuation Adjustments&#8221; (&#8220;CVA&#8221;)
was &#8364;-<a name="XBRL_CS_074e9abed65a4a93852653ff4"></a>163<a name="XBRL_CS_074e9abed65a4a93852653ff4_bclEnd"></a> million and &#8364;-<a name="XBRL_CS_5beb68bde210498c9582dee84"></a>153<a name="XBRL_CS_5beb68bde210498c9582dee84_bclEnd"></a> million respectively, and
the valuation adjustments to the derivative liabilities as &#8220;Debit Valuation
Adjustment&#8221; (DVA) was &#8364;<a name="XBRL_CS_aae5b171b0f54295bb9862466"></a>214<a name="XBRL_CS_aae5b171b0f54295bb9862466_bclEnd"></a> million and &#8364;<a name="XBRL_CS_6b5fc956175442939f84bab29"></a>138<a name="XBRL_CS_6b5fc956175442939f84bab29_bclEnd"></a> million respectively . The
impact recorded under &#8220;Gains or (-) losses on financial assets and liabilities
held for trading, net&#8221; in the consolidated income statement as for the years
ended 2018 and 2017 corresponding to the mentioned adjustments was a net impact
of &#8364;-<a name="XBRL_CS_96287f45a7a449d1af44f4b8e"></a>24<a name="XBRL_CS_96287f45a7a449d1af44f4b8e_bclEnd"></a> million and &#8364;-<a name="XBRL_CS_7320173b9eaf41daa1cd712c6"></a>23<a name="XBRL_CS_7320173b9eaf41daa1cd712c6_bclEnd"></a> million respectively.
Additionally, as of December 31, 2018, &#8364;-<a name="XBRL_CS_6a01d54e65f6467dab95363ba"></a>12<a name="XBRL_CS_6a01d54e65f6467dab95363ba_bclEnd"></a> million related to the
&#8220;Funding Valuation Adjustments&#8221; (&#8220;FVA&#8221;) were recognized in the consolidated
balance sheet. </font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc105983"></a><font color=#004580 style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Unobservable
inputs</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Quantitative
information of unobservable inputs used to calculate Level 3 valuations is
presented below as of December 31, 2018:</font></font><a name="XBRL_TS_efca9a70ae5743b087f6126f5_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:27.0pt;">
  <td width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Financial instrument</font></b></font></p>
  </td>
 <td width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Valuation technique(s)</font></b></font></p>
  </td>
 <td width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Significant unobservable inputs</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Min</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Max</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Units</font></b></font></p>
  </td>
 </tr>
<tr style="height:3.75pt;">
  <td width=19% style="border:none;height:3.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 style="border:none;"><font color=#094FA4 face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=18% style="border:none;height:3.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 style="border:none;"><font color=#094FA4 face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=18% style="border:none;height:3.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 style="border:none;"><font color=#094FA4 face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="border:none;height:3.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:3.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:3.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:3.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td rowspan=3 width=19% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt Securities</font></font></p>
  </td>
 <td rowspan=2 width=18% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Net Present&#160; Value</font></font></p>
  </td>
 <td width=18% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit Spread</font></font></p>
  </td>
 <td width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37</font></font></p>
  </td>
 <td width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">152.22</font></font></p>
  </td>
 <td width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">385.00</font></font></p>
  </td>
 <td width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">b.p.</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Recovery Rate</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.00%</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32.06%</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40.00%</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Comparable pricing</font></font></p>
  </td>
 <td width=18% style="background:#DDD9C4;border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.00%</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">88.00%</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">275.00%</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td rowspan=2 width=19% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=18% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Net&#160; Asset Value</font></font></p>
  </td>
 <td width=18% style="background:#DDD9C4;border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 rowspan=2 width=45% style="background:#DDD9C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Comparable pricing</font></font></p>
  </td>
 <td width=18% style="background:#DDD9C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=19% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit Option</font></font></p>
  </td>
 <td width=18% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Gaussian Copula</font></font></p>
  </td>
 <td width=18% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Correlation Default</font></font></p>
  </td>
 <td width=12% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.00%</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37.98%</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">60.26%</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Corporate Bond Option</font></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Black 76</font></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Price Volatility</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">vegas</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td rowspan=3 width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity OTC Option</font></font></p>
  </td>
 <td width=18% style="border:none;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Heston</font></font></p>
  </td>
 <td width=18% style="border:none;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Forward Volatility
  Skew</font></font></p>
  </td>
 <td width=12% style="border:none;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47.05</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47.05</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47.05</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Vegas</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td rowspan=2 width=18% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Local Volatility</font></font></p>
  </td>
 <td width=18% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Dividends</font></font></p>
  </td>
 <td colspan=4 width=45% style="background:#DDD9C4;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Volatility</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13.79</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27.24</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">65.02</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">vegas</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">FX OTC Options</font></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Black Scholes/Local
  Vol</font></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Volatility</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5.05</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.73</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9.71</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">vegas</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td rowspan=3 width=19% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest Rate Option</font></font></p>
  </td>
 <td rowspan=3 width=18% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Libor Market Model</font></font></p>
  </td>
 <td width=18% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Beta</font></font></p>
  </td>
 <td width=12% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.25</font></font></p>
  </td>
 <td width=11% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9.00</font></font></p>
  </td>
 <td width=11% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18.00</font></font></p>
  </td>
 <td width=11% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=18% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Correlation
  Rate/Credit</font></font></p>
  </td>
 <td width=12% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(100)</font></font></p>
  </td>
 <td width=11% style="background:#DDD9C4;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit Default
  Volatility</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Vegas</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_7a880c5bdb1340ba9a504f72e"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-148</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_431"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=#004580 style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Financial assets and liabilities classified
as Level 3</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The changes in the balance of Level 3 financial assets and
liabilities included in the accompanying consolidated balance sheets during
2018, 2017 and 2016, are as follows:</font></font><a name="XBRL_TS_7a880c5bdb1340ba9a504f72e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial Assets
  Level 3: Changes in the Period (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=23% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=2 width=23% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Assets</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Liabilities</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Assets</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Liabilities</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Assets</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Liabilities</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=32% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">835</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">125</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">822</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">116</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">463</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">182</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=32% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Group incorporations</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=32% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Changes in fair value
  recognized in profit and loss (*)</font></font></p>
  </td>
 <td nowrap width=12% style="height:21.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(167)</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(95)</font></font></p>
  </td>
 <td nowrap width=12% style="height:21.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(24)</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(86)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=32% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Changes in fair value
  not recognized in profit and loss</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(45)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(81)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=32% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Acquisitions,
  disposals and liquidations (**)</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,102</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,710</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">320</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">438</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(25)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=32% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Net transfers to
  Level 3</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">761</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">106</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(39)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=32% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange differences
  and others</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(55)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(250)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(47)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=32% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,527</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,787</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">835</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">125</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">822</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">116</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_373f6d097e30458a880922484"></a><a name="XBRL_FS_c26b651606124719a7e4fe8f5"></a><a name="XBRL_FS_957412c39d224c73b30d0e6f1"></a><a name="XBRL_TS_63e535fc485147dfb0118c491"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Profit
or loss that is attributable to gains or losses relating to those financial
assets and liabilities held as of December 31, 2018, 2017 and 2016. Valuation
adjustments are recorded under the heading &#8220;Gains (losses) on financial assets
and liabilities, net&#8221;.</font></font><a name="XBRL_FS_957412c39d224c73b30d0e6f1_bclEnd"></a><a name="XBRL_FS_c26b651606124719a7e4fe8f5_bclEnd"></a><a name="XBRL_TS_63e535fc485147dfb0118c491_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_7a1a10311f9f41168c455c696"></a><a name="XBRL_FS_5dbbd8face58445c816586e0d"></a><a name="XBRL_TS_057b68cc131844249d5b83916"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(**) Of
which, in 2018, the assets roll forward is comprised of &#8364;</font></font><a name="XBRL_CS_7cf6f3ec552e4cc0bbcf43651"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">2,400</font></font><a name="XBRL_CS_7cf6f3ec552e4cc0bbcf43651_bclEnd"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">
million of acquisitions, &#8364;<a name="XBRL_CS_59ad321f47444d6b9e42d7ad7"></a>254<a name="XBRL_CS_59ad321f47444d6b9e42d7ad7_bclEnd"></a> millions of disposals and
&#8364;<a name="XBRL_CS_4ae0511a83ae4d858b5a6077a"></a>44<a name="XBRL_CS_4ae0511a83ae4d858b5a6077a_bclEnd"></a> millions of liquidations.
The liabilities roll forward is comprised of &#8364;<a name="XBRL_CS_ae5a317b8576430eabba4b8fb"></a>2,716<a name="XBRL_CS_ae5a317b8576430eabba4b8fb_bclEnd"></a> million of acquisitions
and &#8364;<a name="XBRL_CS_1385a567a90e459a97ff1048b"></a>5<a name="XBRL_CS_1385a567a90e459a97ff1048b_bclEnd"></a> millions of liquidations.</font></font><a name="XBRL_FS_5dbbd8face58445c816586e0d_bclEnd"></a><a name="XBRL_FS_7a1a10311f9f41168c455c696_bclEnd"></a><a name="XBRL_TS_057b68cc131844249d5b83916_bclEnd"></a><a name="XBRL_TS_373f6d097e30458a880922484_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_efcbdedefe994a8ea394bb8a3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, the
profit/loss on sales of financial instruments classified as Level 3 recognized
in the accompanying consolidated income statement was not material.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-149</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_432"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=#004580 style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Transfers
between levels</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Global Valuation Area, in collaboration with BBVA Group, has
established the rules for a proper financials instruments held for trading
classification according to the fair value hierarchy defined by international
accounting standards.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On a monthly basis, any new assets added to the portfolio are
classified, according to this criterion, by the accounting subsidiary. Then,
there is a quarterly review of the portfolio in order to analyze the need for a
change in classification of any of these assets.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The financial instruments transferred between the different levels
of measurement for the year ended December 31, 2018 are recorded at the
following amounts in the accompanying consolidated balance sheets as of
December 31, 2018:</font></font><a name="XBRL_TS_efcbdedefe994a8ea394bb8a3_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfer Between
  Levels. December 2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=20% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">From:</font></b></font></p>
  </td>
 <td colspan=2 width=24% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 1</font></b></font></p>
  </td>
 <td colspan=2 width=24% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 2</font></b></font></p>
  </td>
 <td colspan=2 width=23% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">To:</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 2</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 3</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 1 </font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 3</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level 1</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Level2</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,171</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-trading financial
  assets mandatorily at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">67</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial assets at
  fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=9% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">134</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">72</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">515</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">118</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,305</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">74</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">641</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">118</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIABILITIES-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financial liabilities
  held for trading</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">138</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">138</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_cb4f99d35e0a439fa959c69c5"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amount of financial instruments that were transferred between
levels of valuation for the year ended December 31, 2018 is not material
relative to the total portfolios, and corresponds to the above changes in the
classification between levels these financial instruments modified some of
their features, specifically:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Transfers between Levels 1 and 2
represent mainly debt and equity instruments, which are either no longer listed
on an active market (transfer from Level 1 to 2) or have just started to be
listed (transfer from Level 2 to 1).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Transfers from Level 2 to Level 3 are
mainly due to derivative transactions.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Transfers from Level 3 to Level 2
generally affect derivative and debt instruments transactions, for which inputs
observable in the market have been obtained</font></font><font style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-150</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_433"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Sensitivity Analysis</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Sensitivity analysis is performed on financial instruments with
significant unobservable inputs (financial instruments included in level 3), in
order to obtain a reasonable range of possible alternative valuations. This
analysis is carried out on a monthly basis, based on the criteria defined by
the Global Valuation Area taking into account the nature of the methods used
for the assessment and the reliability and availability of inputs and proxies
used. In order to establish, with a sufficient degree of certainty, the
valuating risk that is incurred in such assets without applying diversification
criteria between them.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, the effect on profit for the period and
total equity of changing the main unobservable inputs used for the measurement
of Level 3 financial instruments for other reasonably possible unobservable
inputs, taking the highest (most favorable input) or lowest (least favorable
input) value of the range deemed probable, would be as follows:</font></font><a name="XBRL_TS_cb4f99d35e0a439fa959c69c5_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial Assets
  Level 3: Sensitivity Analysis (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:35.25pt;">
  <td width=56% style="border:none;height:35.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:35.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Potential Impact on Consolidated</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&#160;Income Statement </font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:35.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Potential Impact on</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&#160;Total Equity </font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Most Favorable Hypothesis</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Least Favorable Hypothesis</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Most Favorable Hypothesis</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Least Favorable Hypothesis</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(13)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and Advances</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non-trading financial
  assets mandatorily at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">291</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(181)</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and Advances</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">285</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(161)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets
  designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial liabilities
  held for trading</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">297</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(194)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_7a9ca9d7be88450185d0ae7f1"></a><a name="_Toc105985"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-151</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_434"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><font style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">8.2&#160;&#160;
Fair value of financial instruments carried at cost</font></b></font><a name="XBRL_TS_7a9ca9d7be88450185d0ae7f1_bclEnd"></a><font style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_453bcce070994854a6d03709b"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
valuation technique used to calculate the fair value of financial assets and
liabilities carried at cost as of December 31, 2018, are presented below:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=#006EC1 face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=ES style="font-size:10.0pt;font-style:normal;letter-spacing:0pt;line-height:normal;">Financial assets</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Cash,
balances at central banks and other demand deposits / loans to central banks /
short-term loans to credit institutions / Repurchase agreements: in general,
their fair value is assimilated to their book value, due to the nature of the
counterparty and because they are mainly short-term balances in which the book
value is the most reasonable estimation of the value of the asset.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Loans to
credit institutions which are not short-term and loans to customers: In
general, the fair value of these financial assets is determined by the discount
of expected future cash flows, using market interest rates at the time of
valuation adjusted by the credit spread and taking all kind of behavior
hypothesis if it is considered to be relevant (prepayment fees, optionality,
etc.).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Debt
securities: Fair value estimated based on the available market price or by
using internal valuation methodologies.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=#006EC1 face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;font-style:normal;letter-spacing:0pt;line-height:normal;">Financial liabilities</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Deposits
from central banks: for recurrent liquidity auctions and other monetary policy
instruments of central banks, / short-term deposits from credit institutions /
repurchase agreements / short-term customer deposits:&#160; their book value is
considered to be the best estimation of their fair value.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Deposits
of credit institutions which are not short-term and term customer deposits:
these deposits will be valued by discounting future cash flows using the
interest rate curve in effect at the time of the adjustment adjusted by the
credit spread and incorporating any behavioral assumptions if this proves
relevant (early repayments , optionalities, etc.).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.15pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Debt
certificate (Issuances): The fair value estimation of these liabilities depend
on the availability of market prices or by using the present value method: discount
of future cash flows, using market interest rates at valuation time and taking
into account the credit spread.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The following table presents the fair value of key financial instruments
carried at amortized cost in the accompanying consolidated balance sheets as of
December 31, 2018, 2017 and 2016, broken down according to the method of
valuation used for the estimation:</font></font><a name="XBRL_TS_453bcce070994854a6d03709b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Fair Value of
  financial Instruments at amortized cost by Levels (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=56% style="border:none;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=33% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Level 1</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Level 2</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Level 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">ASSETS</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap width=56% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Cash, cash balances
  at central banks and other demand deposits</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58,024</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">172</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  amortized cost</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,419</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">204,619</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">193,819</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial liabilities
  at amortized cost </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58,225</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">269,128</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">182,948</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_b6ad919f29044499b6be7a9c4"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-152</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_435"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The main valuation techniques and inputs
used to estimate the fair value of financial instruments accounted for at cost
and classified in levels 2 and 3 is shown below. These are broken down by type
of financial instrument and the balances correspond to those as of December 31,
2018:</font></font><a name="XBRL_TS_b6ad919f29044499b6be7a9c4_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Fair Value of
  financial Instruments at amortized cost by valuation technique. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 style="border:none;"><font color=#094FA4 face="Times New Roman,serif" lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td rowspan=2 width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Level 2</font></b></font></p>
  </td>
 <td rowspan=2 width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Level 3</font></b></font></p>
  </td>
 <td rowspan=2 width=25% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Valuation technique(s)</font></b></font></p>
  </td>
 <td rowspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Main inputs used</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=30% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 style="border:none;"><b><font color=#004481 face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=30% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">ASSETS </font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=25% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=30% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  amortized cost</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">204,619</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">193,819</font></b></font></p>
  </td>
 <td nowrap width=25% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:31.5pt;">
  <td nowrap width=30% style="border:none;height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central Banks</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td width=25% style="border:none;height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Present-value method</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=21% style="border:none;height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Credit spread</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Prepayment rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Interest rate yield</font></font></p>
  </td>
 </tr>
<tr style="height:31.5pt;">
  <td nowrap width=30% style="height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  credit institutions</font></font></p>
  </td>
 <td nowrap width=12% style="height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,934</font></font></p>
  </td>
 <td nowrap width=12% style="height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,291</font></font></p>
  </td>
 <td width=25% style="height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Present-value method</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=21% style="height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Credit spread</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Prepayment rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Interest rate yield</font></font></p>
  </td>
 </tr>
<tr style="height:31.5pt;">
  <td nowrap width=30% style="height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  customers</font></font></p>
  </td>
 <td nowrap width=12% style="height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">190,666</font></font></p>
  </td>
 <td nowrap width=12% style="height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">183,645</font></font></p>
  </td>
 <td width=25% style="height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Present-value method</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=21% style="height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Credit spread</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Prepayment rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Interest rate yield</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap width=30% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,019</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,881</font></font></p>
  </td>
 <td width=25% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Present-value method</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Credit spread</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Interest rate yield</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=30% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=25% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=30% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial liabilities
  at amortized cost </font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">269,128</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">182,948</font></b></font></p>
  </td>
 <td nowrap width=25% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=30% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central Banks</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">196</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=25% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Present-value method</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=21% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Issuer&#180;s credit
  risk</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Prepayment rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- Interest rate yield</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  credit institutions</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,281</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,852</font></font></p>
  </td>
 <td width=25% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Present-value method</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=21% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Issuer&#180;s credit
  risk</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Prepayment rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- Interest rate yield</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  customers</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">240,547</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">135,270</font></font></p>
  </td>
 <td width=25% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Present-value method</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=21% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Issuer&#180;s credit
  risk</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Prepayment rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- Interest rate yield</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,104</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,096</font></font></p>
  </td>
 <td width=25% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Present-value method</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=21% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Issuer&#180;s credit
  risk</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Prepayment rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- Interest rate yield</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial liabilities</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,730</font></font></p>
  </td>
 <td width=25% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Present-value method</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=21% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Issuer&#180;s credit
  risk</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">- Prepayment rates</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">- Interest rate yield</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_74b66c1e38be4f02a61c737d2"></a><font color=#006EC1 face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;font-style:normal;letter-spacing:0pt;line-height:normal;">Equity instruments at cost</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Until 2017,
there were equity instruments and discretionary profit-sharing arrangements in
some entities which were recognized at cost in the Group&#8217;s consolidated balance
sheets because their fair value could not be estimated </font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">in</font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> a
sufficiently reliable manner for the amount of &#8364;<a name="XBRL_CS_763068120af047ad89ed65b11"></a>469<a name="XBRL_CS_763068120af047ad89ed65b11_bclEnd"></a> and &#8364;<a name="XBRL_CS_f924d921640044be968bdc3f6"></a>565<a name="XBRL_CS_f924d921640044be968bdc3f6_bclEnd"></a> million, as of December
31, 2017 and 2016, respectively.</font></font><a name="XBRL_TS_74b66c1e38be4f02a61c737d2_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_2dff8cc45d664ec2b51d7ebe1"></a><a name="_Toc105987"></a><a name="_Toc495478123"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">9.&#160;&#160;
Cash, cash balances at central banks and other demands deposits</font></b></font><a name="XBRL_TS_2dff8cc45d664ec2b51d7ebe1_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_5338864c7eaa473a844c960fa"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
the heading &#8220;Cash, cash balances at central banks and other demands deposits&#8221;
in the accompanying consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_5338864c7eaa473a844c960fa_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Cash, cash balances
  at central banks and other demand deposits (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=57% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Cash on hand</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,346</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,220</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,413</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=57% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Cash balances at
  central banks</font></font></p>
  </td>
 <td nowrap width=10% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43,880</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,718</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,671</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other demand deposits</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,970</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,742</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,955</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58,196</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,680</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,039</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-153</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_436"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc376949929"></a><a name="_Toc347755846"></a><a name="_Toc331260308"></a><a name="_Toc299032867"></a><a name="_Toc299031528"></a><a name="_Toc299029445"></a><a name="_Toc298431710"></a><a name="XBRL_TS_2a8c463e579e4ec99cf125a08"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">10. &#160;&#160;&#160;Financial assets and
liabilities held for trading</font></b></font><a name="XBRL_TS_2a8c463e579e4ec99cf125a08_bclEnd"></a></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_8244fd6358774272ba69790c2"></a><a name="_Toc474142244"></a><a name="_Toc376972331"></a><a name="_Toc376949923"></a><a name="_Toc105989"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;">10.1&#160;&#160; Breakdown of the balance</font></b></font><a name="XBRL_TS_8244fd6358774272ba69790c2_bclEnd"></a></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_a65e9a12351243e089eed4784"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under these headings in the accompanying consolidated
balance sheets is as follows:</font></font><a name="XBRL_TS_a65e9a12351243e089eed4784_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:20.45pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial Assets and
  Liabilities Held-for-Trading (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">ASSETS</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30,536</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,265</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,955</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=56% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,577</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,573</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,166</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and advances </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,750</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">154</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,254</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,801</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,675</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total&#160; Assets</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90,117</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">64,695</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">74,950</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,815</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,169</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43,118</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Short positions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,025</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,013</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,556</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37,934</font></font></p>
  </td>
 <td nowrap width=11% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total&#160;
  Liabilities</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">80,774</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46,182</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54,675</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_98b629ad077c424dac89f8b28"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018 &#8220;Short positions&#8221; include &#8364;10,255 million held with General
governments.</font></font><a name="XBRL_TS_98b629ad077c424dac89f8b28_bclEnd"></a></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_88b256b5b84b435bb4e7d4c81"></a><a name="_Toc474142245"></a><a name="_Toc376972333"></a><a name="_Toc376949925"></a><a name="_Toc105990"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;">10.2&#160;&#160; Debt securities</font></b></font><a name="XBRL_TS_88b256b5b84b435bb4e7d4c81_bclEnd"></a></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_6bc314b5ec39434c851369fca"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown by type of issuer of the balance under this heading in the
accompanying consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_6bc314b5ec39434c851369fca_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:20.45pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial Assets
  Held-for-Trading. Debt securities by issuer (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,001</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,371</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">544</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by public
  administrations</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,950</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,344</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,621</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by financial
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">790</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">816</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,652</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">836</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,041</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,349</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,577</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,573</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,166</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_1865232c9436411aaa59b977a"></a><a name="_Toc105991"></a></h2>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-154</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_437"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;">10.3&#160;&#160; Loans and advances</font></b></font><a name="XBRL_TS_1865232c9436411aaa59b977a_bclEnd"></a></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_27953cf2ebaf4713ab5e84d62"></a><a name="XBRL_TS_3dfaf4f32efb4451809ad93cf"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
this heading in the accompanying consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_27953cf2ebaf4713ab5e84d62_bclEnd"></a><a name="XBRL_TS_3dfaf4f32efb4451809ad93cf_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:20.45pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial Assets
  Held-for-Trading. Loans and advances (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  central banks</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,163</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Reverse
  repurchase agreements</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,163</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,566</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Reverse
  repurchase agreements</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,305</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:14.45pt;">
  <td width=56% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  customers</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,021</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">154</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Reverse
  repurchase agreements</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,794</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,750</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">154</font></b></font></p>
  </td>
 </tr>
</table></div>



<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_5dd05f2a7e4c40adb51f5846c"></a><a name="_Toc474142246"></a><a name="_Toc376972334"></a><a name="_Toc376949926"></a><a name="_Toc105992"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;">10.4&#160;&#160; Equity instruments</font></b></font><a name="XBRL_TS_5dd05f2a7e4c40adb51f5846c_bclEnd"></a></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_b3c8685cccf04ec3a8d43e726"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under this heading in the accompanying consolidated
balance sheets is as follows:</font></font><a name="XBRL_TS_b3c8685cccf04ec3a8d43e726_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:19.15pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:19.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial Assets
  Held-for-Trading. Equity instruments by Issuer (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Shares of
  Spanish companies</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">576</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">617</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">781</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other sectors</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">536</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">603</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">956</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,112</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,220</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,737</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Shares of
  foreign companies</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">304</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">345</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">220</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other sectors</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,838</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,236</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,718</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,142</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,581</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,939</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,254</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,801</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,675</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_65d8f5c3f2d149eda9ed8361f"></a><a name="_Toc105993"></a></h2>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-155</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_438"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;">10.5&#160;&#160; Deposits</font></b></font><a name="XBRL_TS_65d8f5c3f2d149eda9ed8361f_bclEnd"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;"> &nbsp;</font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_f665818b08ef424e8032a109b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown
of the balance under this heading in the accompanying consolidated balance
sheets is as follows:</font></font><a name="XBRL_TS_f665818b08ef424e8032a109b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:20.45pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial Liabilities
  Held-for-Trading. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits from central
  banks (*)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">10,511</font></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Repurchase
  agreement</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">35</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,511</font></i></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits from credit
  institutions (*)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">15,687</font></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Repurchase
  agreement</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">35</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,839</font></i></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits from
  customers (*)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">11,736</font></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=58% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Repurchase
  agreement</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">35</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,466</font></i></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37,934</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_de3ef02ace804ce5a3d1213e7"></a><a name="_Toc376949927"></a><a name="_Toc376972335"></a><a name="_Toc474142247"></a><a name="_Toc105994"></a></h2>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-156</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_439"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;">10.6&#160;&#160; Derivatives</font></b></font><a name="XBRL_TS_de3ef02ace804ce5a3d1213e7_bclEnd"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;"> &nbsp;</font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_b2893420830a4d7f9b4354619"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
derivatives portfolio arises from the Group&#8217;s need to manage the risks it is
exposed to in the normal course of business and also to market products amongst
the Group&#8217;s customers. As of December 31, 2018, 2017 and 2016, trading
derivatives were mainly contracted in over-the-counter (OTC) markets, with
counterparties, consisting primarily of foreign credit institutions, and are
related to foreign-exchange, interest-rate and equity risk. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Below is a breakdown of the net positions by transaction type of
the fair value and notional amounts of derivatives recognized in the
accompanying consolidated balance sheets, divided into organized and OTC
markets:</font></font><a name="XBRL_TS_b2893420830a4d7f9b4354619_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Derivatives by type
  of risk / by product or by type of market -&#160; December 2018 (Millions of
  Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Assets</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Liabilities</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notional amount - Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest rate</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,147</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,769</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,929,371</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,940</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,413</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">207,107</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,206</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,356</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,702,909</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,092</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,263</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,799</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,956</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">114,184</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">400</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">341</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,906</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">230</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">123</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,693</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,168</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,492</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">72,062</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,524</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Foreign
  exchange and gold</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,355</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,693</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">432,283</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">226</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">309</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,293</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,118</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,329</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">405,659</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">45</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,286</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">232</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">393</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,452</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit default swap</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">228</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">248</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,791</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit spread option</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">500</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total return swap</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">145</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,161</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Commodities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">DERIVATIVES</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30,536</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,815</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,501,358</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=40% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">of which: OTC -
  credit institutions</font></i></font></p>
  </td>
 <td valign=bottom width=20% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,979</font></i></font></p>
  </td>
 <td valign=bottom width=20% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,729</font></i></font></p>
  </td>
 <td valign=bottom width=20% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">897,384</font></i></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=40% style="height:14.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">of which: OTC -
  other financial corporations</font></i></font></p>
  </td>
 <td valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,372</font></i></font></p>
  </td>
 <td valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,758</font></i></font></p>
  </td>
 <td valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,355,784</font></i></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=40% style="height:14.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">of which: OTC
  - other</font></i></font></p>
  </td>
 <td valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,005</font></i></font></p>
  </td>
 <td valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,780</font></i></font></p>
  </td>
 <td valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">148,917</font></i></font></p>
  </td>
 </tr>
</table></div>



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<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Derivatives by type of risk / by product or by type of market -&#160;
  December 2017 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Assets</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Liabilities</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notional amount - Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest rate</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,606</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,546</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,152,490</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,429</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,581</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">212,554</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,177</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,965</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,916,920</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">600</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,416</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,778</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,336</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">95,573</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">495</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,118</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,140</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">83</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,158</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,200</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,129</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48,644</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,631</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Foreign
  exchange and gold</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,371</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,729</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">380,404</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">245</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">258</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,447</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,092</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,430</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">348,857</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">104</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,997</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">489</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">517</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30,181</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit default swap</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">480</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">507</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,942</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit spread option</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">200</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total return swap</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,039</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Commodities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">561</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">DERIVATIVES</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,265</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,169</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,659,246</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=40% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">of which: OTC -
  credit institutions</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,016</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,804</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">898,209</font></i></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=40% style="height:14.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">of which: OTC -
  other financial corporations</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,695</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,207</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,548,919</font></i></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=40% style="height:14.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">of which: OTC
  - other</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,316</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,986</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">128,722</font></i></font></p>
  </td>
 </tr>
</table></div>



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<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Derivatives by type of risk / by product or by type of market -&#160;
  December 2016 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Assets</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Liabilities</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notional amount - Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest rate</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,770</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,322</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,556,150</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,331</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,428</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">217,958</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,339</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,792</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,296,183</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,311</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">102</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,698</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,032</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,252</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90,655</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">718</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,224</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44,837</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">109</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">91</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,312</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,205</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">937</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,795</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,712</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Foreign
  exchange and gold</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,872</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,179</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">425,506</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">417</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">539</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,583</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,436</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,624</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">392,240</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">175</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,508</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">261</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">338</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,399</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit default swap</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">246</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">230</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,788</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit spread option</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">150</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total return swap</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">108</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,895</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,565</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Commodities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">169</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,065</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">DERIVATIVES</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,955</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43,118</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#121212 face=Arial,sans-serif style="border:none;"><b><font color=#121212 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,092,945</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=40% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">of which: OTC - credit
  institutions</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,438</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,005</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">806,096</font></i></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=40% style="height:14.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">of which: OTC -
  other financial corporations</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,786</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,362</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,023,174</font></i></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=40% style="height:14.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">of which: OTC
  - other</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,404</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,694</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=20% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">175,473</font></i></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-159</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_442"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_34c4ce3243ae4e15a8ca38e41"></a><a name="_Toc105995"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">11. Non-trading
financial assets mandatorily at fair value through profit or loss</font></b></font><a name="XBRL_TS_34c4ce3243ae4e15a8ca38e41_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_07f18a53abcb46f79f10b0411"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under this heading in the accompanying consolidated
balance sheets is as follows:</font></font><a name="XBRL_TS_07f18a53abcb46f79f10b0411_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:22.5pt;">
  <td colspan=3 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non-trading financial
  assets mandatorily at fair value through profit or loss (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=78% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=78% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,095</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=78% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">237</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=78% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,803</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=78% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,135</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_e5fc0cb82cf643daa43f41a93"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This
heading is included with the implementation of IFRS 9 on January 1, 2018.
Previously, this category did not exist in IAS 39 (see Note 2.2.1 and 2.3).</font></font><a name="XBRL_TS_e5fc0cb82cf643daa43f41a93_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc376949934"></a><a name="_Toc347755847"></a><a name="_Toc331260309"></a><a name="_Toc298431711"></a><a name="_Toc299032868"></a><a name="_Toc299031529"></a><a name="_Toc299029447"></a><a name="XBRL_TS_de96dc285038423cb7b5aa59e"></a><a name="_Toc105996"></a><a name="_Toc495478125"></a><a name="_Toc481589073"></a><a name="_Toc474142248"></a><a name="_Toc457490018"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">12.&#160;
Financial assets and liabilities designated at fair value through profit or
loss</font></b></font><a name="XBRL_TS_de96dc285038423cb7b5aa59e_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_d71f00a044fc4cf8b250bcd0f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under these headings in the accompanying consolidated
balance sheets is as follows:</font></font><a name="XBRL_TS_d71f00a044fc4cf8b250bcd0f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:20.45pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets and
  liabilities designated at fair value through profit or loss (Millions of
  euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">ASSETS</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#E9E9E9;border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,888</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,920</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unit-linked
  products</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#E9E9E9;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,621</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,749</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#E9E9E9;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">266</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">171</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,313</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">174</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">142</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and advances </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">648</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total Assets</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,313</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,709</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,062</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">976</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt certificates</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,858</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,159</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,222</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,338</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unit-linked
  products</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,159</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,222</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,338</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total
  Liabilities</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,993</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,222</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,338</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_06e999e4daeb4e7f8bc0b095f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With the implementation of
IFRS 9 on January 1, 2018, equity instruments under this heading have been
reclassified to the heading: &#8220;Non-trading financial assets mandatorily at fair
value through profit or loss&#8221; (see Note 11).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, 2017 and 2016, the most significant balances within
financial liabilities designated at fair value through profit or loss related
to assets and liabilities linked to insurance products where the policyholder
bears the risk (&quot;Unit-Link&quot;). This type of product is sold only in
Spain, through BBVA Seguros S.A., insurance and reinsurance and in Mexico
through Seguros Bancomer S.A. de CV.</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-160</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_443"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Since the liabilities linked to
insurance products in which the policyholder assumes the risk are valued the
same way as the assets associated to these insurance products, there is no
credit risk component borne by the Group in relation to these liabilities.</font></font><a name="XBRL_TS_06e999e4daeb4e7f8bc0b095f_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc376949931"></a><a name="_Toc376972339"></a><a name="_Toc474142251"></a><a name="XBRL_TS_593d475c52f74f25bced2aec9"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">13. </font></b></font><a name="_Toc105997"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">&#160;&#160;Financial
assets at fair value through other comprehensive income</font></b></font><a name="XBRL_TS_593d475c52f74f25bced2aec9_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_5d4b451f298b46769a4f79911"></a><a name="_Toc474142250"></a><a name="_Toc105998"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">13.1&#160;
Balance details</font></b></font><a name="XBRL_TS_5d4b451f298b46769a4f79911_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_d5e62818551d4655abfb5a2ef"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance by the main financial instruments in the accompanying
consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_d5e62818551d4655abfb5a2ef_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:20.45pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets
  designated at fair value through other comprehensive income (Millions of
  euros)</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53,737</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66,273</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">74,739</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment losses</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(28)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(159)</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=56% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53,709</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66,251</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">74,580</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,595</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,488</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,814</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment losses</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,264)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(174)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=56% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,595</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,224</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,641</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  credit entities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56,337</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69,476</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">79,221</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_e7bbc3f6e4bf4262ae011c5ce"></a><a name="_Toc105999"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-161</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_444"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">13.2&#160;
Debt securities</font></b></font><a name="XBRL_TS_e7bbc3f6e4bf4262ae011c5ce_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_2a5c5fe5ef0346748c34abb14"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under the heading &#8220;Debt securities&#8221; of the
accompanying consolidated financial statements, broken down by the nature of
the financial instruments, is as follows:</font></font><a name="XBRL_TS_2a5c5fe5ef0346748c34abb14_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:18.6pt;">
  <td colspan=5 width=100% style="background:#F3F3F3;border:none;border-bottom:solid black 1.0pt;height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets
  designated at fair value through other comprehensive income: Debt Securities.
  </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amortized Cost (*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unrealized Gains</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unrealized Losses</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Book Value</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Domestic Debt
  Securities</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Spanish Government
  and other general governments agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,205</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">661</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,857</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,597</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,696</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">793</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">855</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">804</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">841</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,802</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">761</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(10)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,553</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Foreign Debt
  Securities</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,299</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(142)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,163</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Mexican Government
  and other general governments agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,286</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(121)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,169</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,013</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">994</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">978</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">961</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">The United
  States</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,507</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(217)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,338</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Government securities
  </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,227</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(135)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,130</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">US Treasury and other
  US Government agencies</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,285</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(56)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,258</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">States and political
  subdivisions </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,942</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(79)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,872</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,280</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(82)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,208</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">50</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,231</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(82)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,158</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,164</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(269)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,916</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Turkey Government and
  other general governments agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,007</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(256)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,771</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">157</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(13)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">145</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">157</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(13)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">145</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other countries</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,551</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">319</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(130)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,740</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other foreign
  governments and other general governments agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,510</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">173</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(82)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,601</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,041</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">146</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(48)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,139</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">987</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">986</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,856</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">111</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,947</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,197</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,206</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,521</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">392</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(758)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,157</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53,323</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,153</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(768)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53,709</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_714cf67795fd48a9861f27f5f"></a><a name="XBRL_TS_372fb6bf5a2e4e2b851fcc431"></a><a name="XBRL_TS_f4acb943ba864e8180d574157"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; The amortized cost includes portfolio gains/losses linked to
insurance contracts in which the policyholder assumes the risk in case of
redemption.</font></font><a name="XBRL_FS_714cf67795fd48a9861f27f5f_bclEnd"></a><a name="XBRL_TS_372fb6bf5a2e4e2b851fcc431_bclEnd"></a><a name="XBRL_TS_f4acb943ba864e8180d574157_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-162</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:18.6pt;">
  <td colspan=5 width=100% style="background:#F3F3F3;border:none;border-bottom:solid black 1.0pt;height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Available-for-sale financial assets: Debt Securities. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amortized Cost (*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unrealized Gains</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unrealized Losses</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Book Value</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Domestic Debt
  Securities</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=56% style="border:none;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Spanish Government
  and other general governments agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,765</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">791</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(17)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,539</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,951</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">114</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,066</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">891</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">72</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">962</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,061</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,103</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,716</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">906</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(17)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,605</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Foreign Debt
  Securities</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,755</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">45</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(142)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,658</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Mexican Government
  and other general governments agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,101</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(120)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,015</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,654</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(22)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,643</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">212</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">209</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,442</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(19)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,434</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">The United
  States</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,479</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(198)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,317</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Government securities
  </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,625</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(133)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,500</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">US Treasury and other
  US Government agencies</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,052</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(34)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,018</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">States and political
  subdivisions </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,573</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(99)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,482</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,854</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(65)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,817</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">57</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,798</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(65)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,759</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,052</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(115)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,985</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Turkey Government and
  other general governments agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,033</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(114)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,967</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other countries</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,271</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">533</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(117)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,687</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other foreign
  governments and other general governments agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,774</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">325</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(77)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,022</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,497</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">208</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(40)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,664</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,330</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,331</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,535</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">139</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(19)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,654</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,632</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(19)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,679</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,557</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">661</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(572)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,647</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">65,273</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,567</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(589)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66,251</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_6c0cf67d80804df6aa98514f0"></a><a name="XBRL_TS_caf499d0752f46a28d53a09e1"></a><a name="XBRL_TS_9b640ec7f23d4ed8b002a87e2"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; The amortized cost includes portfolio gains/losses linked to
insurance contracts in which the policyholder assumes the risk in case of
redemption.</font></font><a name="XBRL_FS_6c0cf67d80804df6aa98514f0_bclEnd"></a><a name="XBRL_TS_9b640ec7f23d4ed8b002a87e2_bclEnd"></a><a name="XBRL_TS_caf499d0752f46a28d53a09e1_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-163</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_446"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:17.45pt;">
  <td colspan=5 width=100% style="background:#F3F3F3;border:none;border-bottom:solid black 1.0pt;height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Available-for-sale financial assets: Debt Securities. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amortized Cost (*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unrealized Gains</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unrealized Losses</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Book Value</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Domestic Debt
  Securities</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=56% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Spanish Government
  and other general governments agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,427</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">711</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(18)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,119</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,305</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">117</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,421</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">986</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,067</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,319</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,354</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,731</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">828</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(19)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,540</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Foreign Debt
  Securities</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,525</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(343)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,200</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Mexican Government
  and other general governments agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,728</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(301)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,438</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,797</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(42)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,763</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">86</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,710</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(41)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,675</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">The United
  States</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,256</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(261)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,043</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Government securities
  </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,460</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(131)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,337</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">US Treasury and other
  US Government agencies</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,702</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(19)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,683</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">States and political
  subdivisions </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,758</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(112)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,654</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,797</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(130)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,706</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">95</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">97</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,702</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(130)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,609</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,550</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">73</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(180)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,443</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Turkey Government and
  other general governments agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,055</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">70</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(164)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,961</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">495</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(16)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">482</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">448</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">436</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other countries</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,923</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">634</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(203)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,354</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other foreign governments
  and other general government agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,882</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">373</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(98)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,156</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,041</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">261</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(105)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,197</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by Central
  Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,657</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,659</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,269</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">96</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(54)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,311</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Issued by other
  issuers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,115</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">161</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(49)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,227</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49,253</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">773</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(987)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49,040</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">73,985</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,601</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,006)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">74,580</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_d1f1fd6a7fcd4add83559b434"></a><a name="XBRL_TS_548852b53f0e4e5a957e33f28"></a><a name="XBRL_TS_b3fe981551e446ebb32f038b8"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; The amortized cost includes portfolio gains/losses linked to
insurance contracts in which the policyholder assumes the risk in case of
redemption.</font></font><a name="XBRL_FS_d1f1fd6a7fcd4add83559b434_bclEnd"></a><a name="XBRL_TS_548852b53f0e4e5a957e33f28_bclEnd"></a><a name="XBRL_TS_b3fe981551e446ebb32f038b8_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_f093e3dbb56549659d0a30192"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The credit
ratings of the issuers of debt securities as of December 31, 2018, 2017 and
2016, are as follows:</font></font><a name="XBRL_TS_f093e3dbb56549659d0a30192_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.6pt;">
  <td colspan=7 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt Securities by
  Rating</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td valign=bottom width=34% style="border:none;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.9pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Fair Value</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Fair Value</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Fair Value</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(Millions of Euros)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=34% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AAA</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">531</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.0%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">687</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.0%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,922</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=34% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AA+</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,100</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24.4%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,738</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16.2%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,172</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=34% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AA</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">222</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.4%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">507</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.8%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">594</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=34% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AA-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">409</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.8%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">291</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.4%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">575</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=34% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">A+</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">632</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.2%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">664</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.0%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,230</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=34% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">A</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">687</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.3%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">683</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.0%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,442</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=34% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">A-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,426</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34.3%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,330</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2.0%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,719</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=34% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBB+</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,195</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17.1%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,175</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53.1%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,569</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=34% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBB</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,607</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8.6%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,958</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12.0%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,233</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=34% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBB-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,003</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.9%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,583</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8.4%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,809</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=34% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BB+ or below</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,453</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8.3%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,564</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2.4%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,055</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Without rating</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">445</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.8%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,071</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.6%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,261</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53,709</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100%</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66,251</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100.0%</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">74,580</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100.0%</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-164</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_447"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_61ea4463fea448a5b17a49352"></a><a name="_Toc376949932"></a><a name="_Toc376972340"></a><a name="_Toc474142252"></a><a name="_Toc106000"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">13.3&#160; Equity instruments</font></b></font><a name="XBRL_TS_61ea4463fea448a5b17a49352_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_09decf508ec2405e8e9ff3377"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under the heading &quot;Equity
instruments&quot; of the accompanying consolidated financial statements as </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">of December
31, 2018, 2017 and 2016, are as follows:</font></font><a name="XBRL_TS_09decf508ec2405e8e9ff3377_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:17.45pt;">
  <td colspan=5 width=100% style="background:#F3F3F3;border:none;border-bottom:solid black 1.0pt;height:17.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets
  designated at fair value through other comprehensive income: Equity
  Instruments. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amortized Cost</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unrealized Gains</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unrealized Losses</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fair Value</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity
  instruments listed</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Listed Spanish
  company shares</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,172</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(210)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,962</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other entities</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,172</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(210)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,962</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Listed foreign
  company shares</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">121</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other countries</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,262</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(222)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,083</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unlisted equity
  instruments</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unlisted Spanish
  company shares</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other entities</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unlisted foreign
  companies shares </font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">453</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">506</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">388</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">411</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other countries</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">59</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">85</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">459</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">513</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,721</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">98</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(223)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,595</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:17.1pt;">
  <td colspan=5 nowrap width=100% style="background:#F3F3F3;border:none;border-bottom:solid black 1.0pt;height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Available-for-sale
  financial assets: Equity Securities. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amortized Cost</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unrealized Gains</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unrealized Losses</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fair Value</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity
  instruments listed</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Listed Spanish
  company shares</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,189</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,188</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other entities</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,189</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,188</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=56% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Listed foreign
  company shares</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">215</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">241</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other countries</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">192</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">192</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,404</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(8)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,429</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unlisted equity
  instruments</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unlisted Spanish company shares</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other entities</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=56% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unlisted foreign
  companies shares </font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">665</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">77</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">734</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">498</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">532</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other countries</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">151</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">182</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">698</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">106</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(8)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">796</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,102</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">139</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(16)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,224</font></b></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-165</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_448"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=5 nowrap width=100% style="background:#F3F3F3;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Available-for-sale
  financial assets: Equity Securities. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amortized Cost</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unrealized Gains</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unrealized Losses</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fair Value</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity
  instruments listed</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Listed Spanish
  company shares</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,690</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(944)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,763</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other entities</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,690</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(944)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,763</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Listed foreign
  company shares</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">793</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">289</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,066</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">41</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other countries</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">763</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">234</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">981</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,483</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">306</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(960)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,829</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unlisted equity
  instruments</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unlisted Spanish
  company shares</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">57</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">59</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other entities</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=56% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&#160;&#160; Unlisted foreign
  companies shares </font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">708</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">752</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">537</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">550</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other countries</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">152</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">178</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">766</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">811</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,248</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">355</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(962)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,641</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_d55841f6f4a44968b61bb5a2d"></a><a name="_Toc376949933"></a><a name="_Toc376972341"></a><a name="_Toc474142253"></a><a name="_Toc106001"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">13.4&#160; Gains/losses</font></b></font><a name="XBRL_TS_d55841f6f4a44968b61bb5a2d_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_e1e2f0080fae4893903559455"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Debt securities</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The changes in the gains/losses, net of taxes, recognized in 2018
under the equity heading &#8220;Accumulated other comprehensive income &#8211; Items that
may be reclassified to profit or loss - Financial assets at fair value through
other comprehensive income&#8221; in the accompanying consolidated balance sheets are
as follows:</font></font><a name="XBRL_TS_e1e2f0080fae4893903559455_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:24.0pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Accumulated other
  comprehensive income-Items that may be reclassified to profit or loss -
  Financial assets at fair value through other comprehensive income&#160; (Millions
  of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=78% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,557</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Effect of changes in
  accounting policies (IFRS 9)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(58)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Valuation gains and
  losses</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(640)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amounts transferred
  to income</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(137)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other
  reclassifications</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Income tax</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">221</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">943</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-166</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_449"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_7882b81ffa184fa4aaa480c50"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In 2018</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">, the debt securities
impaired recognized in the heading &#8220;Impairment or reversal of impairment on
financial assets not measured at fair value through profit or loss - </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial assets at fair
value through other comprehensive income</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&#8221; </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">in
the accompanying consolidated income statement amounted to &#8364;1 million. In 2017
the recovery recognized amounted &#8364;4 million; meanwhile, in 2016 the impairment
recognized amounted &#8364;157 million (see Note 47).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Equity
instruments</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The changes in the gains/losses, net of taxes, recognized under
the equity heading &#8220;Accumulated other comprehensive income &#8211; Items that will
not be reclassified to profit or loss - Fair value changes of equity
instruments measured at fair value through other comprehensive income&#8221; in the
accompanying consolidated balance sheets are as follows:</font></font><a name="XBRL_TS_7882b81ffa184fa4aaa480c50_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:16.15pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:16.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Accumulated other
  comprehensive income-Items that may be reclassified to profit or loss -
  Financial assets at fair value through other comprehensive income&#160; (Millions
  of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=78% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">84</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Effect of changes in
  accounting policies (IFRS 9)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(40)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Valuation gains and
  losses</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(174)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amounts transferred
  to income</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other
  reclassifications</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Income tax</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(25)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=78% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(155)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_1c012d316d6848a485bcb98ed"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In 2018</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">, there has been no impairment
recognized under the heading &#8220;Impairment or reversal of impairment on financial
assets not measured at fair value through profit or loss - </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Financial assets at fair
value through other comprehensive income</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&#8221; </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">in
the accompanying consolidated income statement. In 2017 and 2016 the impairment
recognized were &#8364;1,131 and &#8364;46 million, respectively (see Note 47).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Years 2017 and
2016</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">2017 and 2016 are presented separately due to the implementation
of IFRS 9:</font></font><a name="XBRL_TS_1c012d316d6848a485bcb98ed_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:31.5pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Accumulated other
  comprehensive income-Items that may be reclassified to profit or loss -
  Available-for-Sale Financial Assets (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=68% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=68% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">947</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,674</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=68% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Valuation gains and
  losses</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">321</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">400</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=68% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amounts transferred
  to income</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">356</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,181)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=68% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other reclassifications</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">116</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=68% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Income tax</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(62)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=68% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,641</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">947</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=68% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=68% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt
  securities</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,557</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,629</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=68% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity
  instruments</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">84</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(682)</font></i></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-167</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_450"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_7ff18fa43d414bf5a87a94aab"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">14. </font></b></font><a name="_Toc106002"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">&#160;&#160;Financial assets at amortized cost</font></b></font><a name="XBRL_TS_7ff18fa43d414bf5a87a94aab_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_fdc2ba52f8354c64880900455"></a><a name="_Toc106003"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">14.1&#160;
Balance details</font></b></font><a name="XBRL_TS_fdc2ba52f8354c64880900455_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_19377600131c447c9a98208ef"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under this heading in the accompanying consolidated
balance sheets, according to the nature of the financial instrument, is as
follows:</font></font><a name="XBRL_TS_19377600131c447c9a98208ef_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  amortized cost (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December&#160;&#160;&#160;&#160;&#160; </font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December </font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December </font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,530</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,093</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,905</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  central banks</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,941</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,300</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,894</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  credit institutions</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,163</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,261</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,373</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  customers</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">374,027</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">387,621</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">414,500</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Government</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,114</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,645</font></font></p>
  </td>
 <td nowrap width=11% style="background:#D9D9D9;border:none;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="height:12.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,468</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,173</font></font></p>
  </td>
 <td nowrap width=11% style="background:#D9D9D9;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="height:12.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">163,922</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">164,510</font></font></p>
  </td>
 <td nowrap width=11% style="background:#D9D9D9;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">172,522</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">173,293</font></font></p>
  </td>
 <td nowrap width=11% style="background:#D9D9D9;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">419,660</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">445,275</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">483,672</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_9fdbbe8fe8a34e93b4050cc6c"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">During
financial year 2018, there have been no significant reclassifications neither
from &#8220;Financial assets at amortized cost&#8221; to other headings or from other
headings to &#8220;Financial assets at amortized cost&#8221;.</font></font><a name="XBRL_TS_9fdbbe8fe8a34e93b4050cc6c_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_fe62c854611a4f27bfc046440"></a><a name="_Toc106007"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">14.2&#160;
Loans and advances to central banks and credit institutions</font></b></font><a name="XBRL_TS_fe62c854611a4f27bfc046440_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_1323507cfa2f480b8723247d3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
this heading in the accompanying consolidated balance sheets, according to
their nature, is as follows:</font></font><a name="XBRL_TS_1323507cfa2f480b8723247d3_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and Advances to
  Central Banks and Credit Institutions (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=58% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  central banks</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,941</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,300</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,894</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=58% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,163</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,261</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,373</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=58% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Reverse repurchase
  agreements</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35 </font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">478</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,861</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,561</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other loans</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,685</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,400</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,812</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=58% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total&#160; </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,104</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33,561</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,267</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=58% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><i><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=58% style="height:14.25pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment
  losses</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.5 / 7.3.2</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(18)</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(36)</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(43)</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_c51e229712e142059e4d9029a"></a><a name="_Toc106008"></a><a name="_Toc376972344"></a><a name="_Toc376949936"></a><a name="_Toc474142256"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">14.3&#160;
Loans and advances to customers</font></b></font><a name="XBRL_TS_c51e229712e142059e4d9029a_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_f30d1625892b4c828cffcb9c7"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
this heading in the accompanying consolidated balance sheets, according to
their nature, is as follows:</font></font><a name="XBRL_TS_f30d1625892b4c828cffcb9c7_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and Advances to
  Customers (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td width=58% style="border:none;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">On demand and short
  notice</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:20.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,641</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,560</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,251</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=58% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit card debt</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,445</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,835</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,596</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=58% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Trade receivables</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,436</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,705</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,753</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=58% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Finance leases</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,650</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,642</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,442</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=58% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Reverse repurchase loans</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">294</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,554</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,291</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=58% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other term loans</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">324,767</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">313,336</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">339,862</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Advances that are not
  loans</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,794</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,989</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,306</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=58% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">374,027</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">387,621</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">414,500</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=58% style="border:none;height:13.9pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=58% style="height:12.6pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impaired
  assets</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.5</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,349</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,390</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,915</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=58% style="height:12.6pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment
  losses</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.5 / 7.3.2</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(12,199)</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(12,748)</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(15,974)</font></i></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-168</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_451"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_3a065363c9b74f8b996b1bce2"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and
2016, 38%, 38% and 34%, respectively, of &quot;Loans and advances to
customers&quot; with maturity greater than one year have fixed-interest rates
and 62%, 62% and 66%, respectively, have variable interest rates.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The heading &#8220;Financial assets at amortized cost
&#8211; Loans and advances to customers&#8221; in the accompanying consolidated balance
sheets also includes certain secured loans that, as pursuant to the Mortgage
Market Act, are linked to long-term mortgage-covered bonds. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This heading also includes some loans that have
been securitized. The balances recognized in the accompanying consolidated
balance sheets corresponding to these securitized loans are as follows:</font></font><a name="XBRL_TS_3a065363c9b74f8b996b1bce2_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:17.1pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Securitized Loans
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=67% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Securitized mortgage
  assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,556</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,950</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,512</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other securitized
  assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,221</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,143</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,731</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,777</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33,093</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33,243</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_7f79cfbc891f4eadbf9a8ad24"></a><a name="_Toc106009"></a><a name="_Toc376972345"></a><a name="_Toc376949937"></a><a name="_Toc474142257"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">14.4&#160;
Debt securities</font></b></font><a name="XBRL_TS_7f79cfbc891f4eadbf9a8ad24_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_e45edd1ca897404fac5505a22"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
this heading in the accompanying consolidated balance sheets, according to the
issuer of the debt securities, is as follows:</font></font><a name="XBRL_TS_e45edd1ca897404fac5505a22_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.6pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Debt securities
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td width=58% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Government</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,014</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,030</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,736</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td width=58% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">644</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,152</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,688</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other sectors </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,872</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,911</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,481</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td width=58% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total gross</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,530</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,093</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,905</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td width=58% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td width=58% style="height:13.15pt;padding:0cm 2.0pt 0cm 29.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment
  losses</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(51)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(17)</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:center;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_877db7badfd14de087a52b12f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and
2016, the credit ratings of the issuers of debt securities classified as follows:</font></font><a name="XBRL_TS_877db7badfd14de087a52b12f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.15pt;">
  <td colspan=7 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  amortized cost. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt Securities by Rating</font></font></p>
  </td>
 </tr>
<tr style="height:25.9pt;">
  <td width=17% style="border:none;height:25.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:25.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:25.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:25.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:25.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:25.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:25.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:46.9pt;">
  <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:46.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:46.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Carrying amount</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(Millions of Euros)</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:46.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:46.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Carrying amount</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(Millions of Euros)</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:46.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:46.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Carrying amount</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(Millions of Euros)</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:46.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=17% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AAA</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.2%</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=17% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AA+</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,969</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6.1%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=17% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AA</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.2%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">41</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.3%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.2%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=17% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">AA-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.0%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">134</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.8%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=17% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">A+</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">607</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.9%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.4%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=17% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">A</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.1%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=17% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">A-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,117</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18.8%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=17% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBB+</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,894</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42.7%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,667</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">41.2%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,472</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">59.2%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=17% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBB</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,623</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5.0%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,412</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17.5%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">591</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=17% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBB-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,694</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8.3%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,818</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20.5%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,187</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29.3%</font></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td nowrap width=17% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BB+ or below</font></font></p>
  </td>
 <td nowrap width=14% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,371</font></font></p>
  </td>
 <td nowrap width=14% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13.4%</font></font></p>
  </td>
 <td nowrap width=14% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,696</font></font></p>
  </td>
 <td nowrap width=14% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12.3%</font></font></p>
  </td>
 <td nowrap width=14% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Without rating</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,123</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.5%</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,064</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.7%</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,270</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.2%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=17% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,530</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100.0%</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,754</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100.0%</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,696</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100.0%</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-169</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_452"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_f610d458d5514aafb2311bf80"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In 2016, according to the
applicable accounting policy, some debt securities were reclassified between
existing accounts from such policy (from &#8220;Available for sale financial assets&#8221;
to &#8220;Loans and receivables&#8221; and &#8220;Held-to-maturity investments&#8221; of the
consolidated balance sheet. As mentioned in Note 1.3, on January 1, 2018, IFRS
9 became effective, therefore, the debt securities previously reclassified are
recorded under &#8220;Financial assets at amortized cost&#8221; in the consolidated balance
sheet as of December 31, 2018. The following table shows the fair value and
carrying amounts of these reclassified financial assets:</font></font><a name="XBRL_TS_f610d458d5514aafb2311bf80_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.9pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Debt Securities
  reclassified (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=14% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">As of Reclassification date</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">As of December 31, 2018</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">As of December 31, 2017</font></b></font></p>
  </td>
 <td colspan=2 width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">As of December 31, 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Carrying Amount</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fair Value</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Carrying Amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fair Value</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Carrying Amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fair Value</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Carrying Amount</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fair Value</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA, S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,024</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,024</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,467</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,486</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,236</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,286</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,433</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,498</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">TURKIYE GARANTI
  BANKASI, A.S</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,488</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,488</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,859</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,668</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,381</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,392</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,230</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,083</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,512</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,512</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,326</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,154</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,617</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,678</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,663</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,581</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_8b984defa35846cb9bfde430e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and
2016, the amount recognized in the income statement from the valuation at
amortized cost of the reclassified financial assets, as well as the impact
recognized on the income statement and under the heading &#8220;Total Equity -
Accumulated other comprehensive income&#8221;, if the reclassification was not
performed is included in the following table.</font></font><a name="XBRL_TS_8b984defa35846cb9bfde430e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.45pt;">
  <td colspan=10 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Effect on Income
  Statement and Other Comprehensive Income (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=14% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 width=30% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=3 width=28% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td colspan=3 width=28% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=14% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Recognized in</font></b></font></p>
  </td>
 <td colspan=2 width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Effect of not Reclassifying in</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Recognized in</font></b></font></p>
  </td>
 <td colspan=2 width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Effect of not Reclassifying in</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Recognized in</font></b></font></p>
  </td>
 <td colspan=2 width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Effect of not Reclassifying in</font></b></font></p>
  </td>
 </tr>
<tr style="height:39.0pt;">
  <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Income Statement</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Income Statement</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Equity</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&quot;Accumulated other comprehensive income&quot;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Income Statement</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Income Statement</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Equity</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&quot;Accumulated other comprehensive income&quot;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Income Statement</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Income Statement</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Equity</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&quot;Accumulated other comprehensive income&quot;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">BBVA, S.A.</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">41</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">41</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">198</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">198</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(14)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">252</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">252</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(91)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">TURKIYE GARANTI
  BANKASI, A.S</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">414 </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">414 </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(172)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">545</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">545</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(16)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">326</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">326</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(225)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">456</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">456</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(173)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">743</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">743</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(30)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">578</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">578</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(316)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:42.55pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-42.55pt;"><a name="XBRL_TS_fa24f84d82af4e8997b35ff1d"></a><a name="_Toc106010"></a><a name="_Toc495478129"></a><a name="_Toc481589077"></a><a name="_Toc474142259"></a><a name="_Toc457490022"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">15.&#160;&#160;&#160; Hedging derivatives and fair value changes of the hedged
items in portfolio hedges of interest rate risk</font></b></font><a name="XBRL_TS_fa24f84d82af4e8997b35ff1d_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_08df30917d7445169d4240621"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The balance
of these headings in the accompanying consolidated balance sheets is as
follows:</font></font><a name="XBRL_TS_08df30917d7445169d4240621_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:27.0pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Derivatives &#8211; Hedge
  accounting and fair value changes of the hedged items in portfolio hedge of
  interest rate risk (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=67% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Hedging Derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,892</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,485</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,833</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  the hedged items in portfolio hedges of interest rate risk</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=67% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Hedging Derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,680</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,880</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,347</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=67% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  the hedged items in portfolio hedges of interest rate risk</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-170</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_453"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_dc9b825760314f32a0127e0d4"></a><a name="XBRL_CS_64e341467f8e4b5ab816a854c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and
2016, the main positions hedged by the Group and the derivatives designated to
hedge those positions were:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Fair
value hedging:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- Fixed-interest
debt securities </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">at fair value through other comprehensive income </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">and at amortized cost: The
interest rate risk of these securities is hedged using interest rate
derivatives (fixed-variable swaps) and forward sales.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Long-term
fixed-interest debt securities issued by the Bank: the interest rate risk of
these securities is hedged using interest rate derivatives (fixed-variable
swaps).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Fixed-interest
loans: The equity price risk of these instruments is hedged using interest rate
derivatives (fixed-variable swaps).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">- </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Fixed-interest
and/or embedded derivative deposit portfolio hedges: it covers the interest
rate risk through fixed-variable swaps. The valuation of the borrowed deposits
corresponding to the interest rate risk is in the heading &quot;Fair value
changes of the hedged items in portfolio hedges of interest rate risk&#8221;.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Cash-flow
hedges: Most of the hedged items are floating interest-rate loans and asset
hedges linked to the inflation of the financial assets at fair value through
other comprehensive income portfolio. This risk is hedged using
foreign-exchange, interest-rate swaps, inflation and FRA&#8217;s (&#8220;Forward Rate
Agreement&#8221;). </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Net
foreign-currency investment hedges: These hedged risks are foreign-currency
investments in the Group&#8217;s foreign subsidiaries. This risk is hedged mainly
with foreign-exchange options and forward currency sales and purchases.</font></font><a name="XBRL_CS_64e341467f8e4b5ab816a854c_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Note 7 analyzes the Group&#8217;s main risks that are
hedged using these derivatives.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The details of the net positions by hedged risk
of the fair value of the hedging derivatives recognized in the accompanying
consolidated balance sheets are as follows:</font></font><a name="XBRL_TS_dc9b825760314f32a0127e0d4_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:18.0pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Hedging Derivatives
  Breakdown by type of risk and type of hedge (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.6pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:33.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:33.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Assets</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Liabilities</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:33.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Assets</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Liabilities</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Assets</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:33.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Liabilities</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Interest rate</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">982</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">513</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,141</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">850</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,154</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">974</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">158</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">100</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">111</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">125</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">118</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">978</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">355</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,041</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">739</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,029</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">856</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Equity</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">50</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">50</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Foreign
  exchange and gold</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">587</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">398</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">625</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">511</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">817</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">553</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">587</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">398</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">625</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">511</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">817</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">553</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Credit</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Commodities</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">FAIR VALUE
  HEDGES</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,575</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">912</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,766</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,362</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,970</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,577</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Interest rate</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">221</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">562</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">244</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">533</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">194</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">358</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">219</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">562</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">242</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">533</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">186</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">358</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Equity</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Foreign exchange and gold</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">955</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">873</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">119</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">714</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">248</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">118</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">OTC options</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">89</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">70</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">OTC other</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">955</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">873</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">119</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">714</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">160</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">48</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Organized market
  options</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Organized market
  other</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Credit</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Commodities</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">CASH FLOW
  HEDGES</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,176</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,435</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">363</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,247</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">442</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">476</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.9pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">HEDGE OF NET
  INVESTMENTS IN A FOREIGN OPERATION</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">92</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">231</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">301</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">362</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">79</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.9pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">PORTFOLIO FAIR VALUE
  HEDGES OF INTEREST RATE RISK</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">33</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">90</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">256</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">55</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">214</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.9pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">PORTFOLIO CASH FLOW
  HEDGES OF INTEREST RATE RISK</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">DERIVATIVES-HEDGE
  ACCOUNTING</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,892</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,680</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,485</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,880</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,833</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,347</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">of which: OTC -
  credit institutions</font></i></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,534</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,462</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,829</font></i></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,527</font></i></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,381</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,103</font></i></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="height:8.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">of which: OTC -
  other financial corporations</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">355</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">216</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">651</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">234</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">435</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">165</font></i></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=26% style="height:8.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">of which: OTC
  - other</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">120</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">79</font></i></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-171</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_454"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_c24f94271bb84269872f9029b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The cash flows forecasts for the
coming years for cash flow hedging recognized on the accompanying consolidated
balance sheet as of December 31, 2018 are:</font></font><a name="XBRL_TS_c24f94271bb84269872f9029b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td colspan=6 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Cash Flows of Hedging
  Instruments (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 Months or Less</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">From 3 Months to 1 Year</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">From 1 to 5 Years</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">More than 5 Years</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=45% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Receivable cash
  inflows</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">116</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">277</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,828</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,181</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,401</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=45% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Payable cash outflows</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">139</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">517</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,215</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,221</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,092</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_ff0405c62d974f68a3a75b278"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The above cash flows will have an
impact on the Group&#8217;s consolidated income statements until 2058. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In 2018, 2017 and 2016, there was no
reclassification in the accompanying consolidated income statements of any
amount corresponding to cash flow hedges that was previously recognized in
equity (see Note 41). </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amount for derivatives designated as
accounting hedges that did not pass the effectiveness test in December 31,
2018, 2017 and 2016 were not material.</font></font><a name="Nota_16"></a><a name="Nota_16_bclEnd"></a><a name="XBRL_TS_ff0405c62d974f68a3a75b278_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc376949950"></a><a name="_Toc347755853"></a><a name="_Toc331260315"></a><a name="_Toc299032874"></a><a name="_Toc299031535"></a><a name="_Toc299029453"></a><a name="_Toc298431717"></a><a name="XBRL_TS_32dbbe03f42e43df9f2d6427a"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">16. </font></b></font><a name="_Toc106012"></a><a name="_Toc495478130"></a><a name="_Toc481589078"></a><a name="_Toc474142260"></a><a name="_Toc457490023"></a><a name="_Toc376949949"></a><a name="_Toc347755852"></a><a name="_Toc331260314"></a><a name="_Toc299032873"></a><a name="_Toc299031534"></a><a name="_Toc299029452"></a><a name="_Toc298431716"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">&#160;&#160;Investments
in joint ventures, associates</font></b></font><a name="XBRL_TS_32dbbe03f42e43df9f2d6427a_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_33d09266bf7947b3a7ec4c335"></a><a name="_Toc106013"></a><a name="_Toc474142261"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">16.1&#160; Joint venture</font></b></font><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">s and associates</font></b></font><a name="XBRL_TS_33d09266bf7947b3a7ec4c335_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_3ce15175048c47c7aded99a4b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance of &#8220;Investments in joint ventures and
associates&#8221; (see Note 2.1) in the accompanying consolidated balance sheets is
as follows:</font></font><a name="XBRL_TS_3ce15175048c47c7aded99a4b_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Joint Ventures and
  Associates Entities. Breakdown by entities (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.9pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Joint ventures</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fideic F 403853 5
  BBVA Bancom Ser.Zibata</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fideicomiso 1729
  Invex Enajenacion de Cartera</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">57</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">PSA Finance Argentina
  Compa&#241;ia Financier</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Altura Markets, S.V.,
  S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">64</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">RCI Colombia</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other joint ventures</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">79</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=67% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">173</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">256</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">229</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Associates
  Entities</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Metrovacesa Suelo y
  Promoci&#243;n, S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">508</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">697</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">208</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Testa Residencial
  SOCIMI, S.A.U.</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">444</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">91</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Metrovacesa Promoci&#243;n
  y Arrendamientos, S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Atom Bank, PLC</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">138</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Divarian Propiedad S.A.U.</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">591</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Servired</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other associates</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">159</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">116</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">116</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=67% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,405</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,332</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">536</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,578</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,588</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">765</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-172</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_455"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:center;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_de21200aabef495b84c6f53ae"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Details of the joint ventures and associates as of December 31,
2018 are shown in Appendix II.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The following is a summary
of the changes in the in December 31, 2018, 2017 and 2016 under this heading in
the accompanying consolidated balance sheets:</font></font><a name="XBRL_TS_de21200aabef495b84c6f53ae_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Joint Ventures and
  Associates Entities. Changes in the Year (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,588</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">765</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">879</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Acquisitions and
  capital increases</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">309</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">868</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">456</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Disposals and capital
  reductions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(516)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(91)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Transfers and changes
  of consolidation method</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">211</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(351)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Share of profit and
  loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange differences</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(29)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(34)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Dividends, valuation
  adjustments and others</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(118)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,578</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,588</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">765</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_b22cebe41478408b91a6845c4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
variation during the year 2018 is mainly explained by the decrease of BBVA
Group stakes in Testa Residencial, S.A., Metrovacesa Suelo y Promoci&#243;n, S.A.
and Divarian Propiedad, S.A.U. (see Note 3 and Appendix III).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">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 Promoci&#243;n, S.A. through its contribution to the capital increases carried out
by both entities by contributing assets from the Bank&#8217;s real estate assets (see
Note 21).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">During the
year 2016, two capital increases in Metrovacesa, S.A. were made through a debt
swap and a contribution of real estate assets, which 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 received equity interests in the corresponding beneficiary
companies, <a name="XBRL_CS_0cdb34b80f834ba6be099c0c1"></a>6.41%<a name="XBRL_CS_0cdb34b80f834ba6be099c0c1_bclEnd"></a> of its capital was
received, having been transferred to the heading &quot;Available-for-sale&#8221; of
the consolidated financial assets as of December 31, 2016.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Appendix
III provides notifications on acquisitions and disposals of holdings 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.</font></font><a name="_Toc376949946"></a><a name="_Toc376972354"></a><a name="_Toc474142262"></a><a name="_Toc106014"></a><a name="_Toc106015"></a><a name="XBRL_TS_b22cebe41478408b91a6845c4_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_16d7ba7d91dc476284a05fdb0"></a><a name="_Toc106016"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-173</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_456"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">16.2&#160; Other information about associates and joint ventures</font></b></font><a name="XBRL_TS_16d7ba7d91dc476284a05fdb0_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_a9a8949c1feb4b9f96cc25b75"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">If these entities had been
consolidated rather 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.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and 2016 there
was no financial support agreement or other contractual 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). </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and 2016 there
was no contingent liability in connection with the investments in joint
ventures and associates (see Note 53.2).</font></font><a name="XBRL_TS_a9a8949c1feb4b9f96cc25b75_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_640d2c34b2f341e3925cd571c"></a><a name="_Toc106017"></a><a name="_Toc376949948"></a><a name="_Toc376972356"></a><a name="_Toc474142263"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">16.3&#160;
Impairment</font></b></font><a name="XBRL_TS_640d2c34b2f341e3925cd571c_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_27f9c35f4c7240e39b275f156"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">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, 2018, 2017 and 2016, there were no significant
impairments recognized.</font></font><a name="XBRL_TS_27f9c35f4c7240e39b275f156_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc376949954"></a><a name="_Toc347755855"></a><a name="_Toc331260317"></a><a name="_Toc299032876"></a><a name="_Toc299031537"></a><a name="_Toc299029455"></a><a name="_Toc298431719"></a><a name="XBRL_TS_6aa74aa5a24649dab95e1f213"></a><a name="_Toc106018"></a><a name="_Toc505355950"></a><a name="_Toc495478131"></a><a name="_Toc481589079"></a><a name="_Toc474142264"></a><a name="_Toc457490024"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">17.&#160;&#160; Tangible assets</font></b></font><a name="XBRL_TS_6aa74aa5a24649dab95e1f213_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_80a343e2ff6740cbb89506c14"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown and movement of the balance and changes of this heading in the
accompanying consolidated balance sheets, according to the nature of the
related items, is as follows:</font></font><a name="XBRL_TS_80a343e2ff6740cbb89506c14_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:20.45pt;">
  <td colspan=9 style="background:#E9E9E9;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Tangible Assets:
  Breakdown by Type of Assets and Changes in the year 2018. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(Millions of euros)</font></font></p>
  </td>
 <td height=27 style="border:none;height:20.45pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="border:none;border-top:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-top:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">For Own Use</font></b></font></p>
  </td>
 <td rowspan=3 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Total tangible asset of Own Use</font></b></font></p>
  </td>
 <td rowspan=3 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Investment Properties</font></b></font></p>
  </td>
 <td rowspan=3 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Assets Leased out under an Operating Lease</font></b></font></p>
  </td>
 <td rowspan=3 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:16.5pt;">
  <td rowspan=2 style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td rowspan=2 style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Land and Buildings</font></b></font></p>
  </td>
 <td rowspan=2 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Work in Progress</font></b></font></p>
  </td>
 <td rowspan=2 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Furniture, Fixtures and Vehicles</font></b></font></p>
  </td>
 <td height=22 style="border:none;height:16.5pt;">&nbsp;</td>
 </tr>
<tr style="height:16.5pt;">
  <td height=22 style="border:none;height:16.5pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Cost </font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,490</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">234</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,628</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,352</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">228</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">492</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,072</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">445</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">404</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">927</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">938</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Retirements</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(98)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(17)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(492)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(607)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(149)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(757)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Acquisition of
  subsidiaries in the year </font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposal of entities
  in the year</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transfers</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">64</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(177)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(125)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(130)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange difference
  and other</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(48)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(214)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(224)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">116</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(105)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(213)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,939</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">70</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,314</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,323</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">201</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">386</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,910</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Accrued
  depreciation </font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,076</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,380</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,456</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">77</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,546</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">45</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">120</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">469</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">589</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">594</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Retirements</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(36)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(403)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(439)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(8)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(447)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Acquisition of
  subsidiaries in the year </font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposal of entities
  in the year</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transfers</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(31)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(22)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(53)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(55)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange difference and
  other</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(212)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(200)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(198)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,138</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,212</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,350</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">76</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,437</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment </font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">315</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">315</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">335</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(25)</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Retirements</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(27)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(27)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Acquisition of subsidiaries
  in the year</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposal of entities
  in the year</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transfers</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(77)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(77)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(80)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:10.15pt;">
  <td style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange difference
  and other</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(51)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(51)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.15pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">217</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">217</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">244</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Net tangible
  assets</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at
  the beginning </font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,099</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">234</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,248</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,581</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">195</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">415</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,191</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at
  the end</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,584</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">70</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,102</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,756</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">163</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">310</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,229</font></b></font></p>
  </td>
 <td height=15 style="border:none;height:11.45pt;">&nbsp;</td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-174</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_457"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td colspan=9 style="background:#E9E9E9;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Tangible Assets.
  Breakdown by Type of Assets and Changes in the year 2017 (Millions of euros)</font></font></p>
  </td>
 <td height=28 style="border:none;height:21.0pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">For Own Use</font></b></font></p>
  </td>
 <td rowspan=3 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Total tangible asset of Own Use</font></b></font></p>
  </td>
 <td rowspan=3 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Investment Properties</font></b></font></p>
  </td>
 <td rowspan=3 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Assets Leased out under an Operating Lease</font></b></font></p>
  </td>
 <td rowspan=3 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td rowspan=2 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td rowspan=2 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Land and Buildings</font></b></font></p>
  </td>
 <td rowspan=2 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Work in Progress</font></b></font></p>
  </td>
 <td rowspan=2 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Furniture, Fixtures and Vehicles</font></b></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:24.0pt;">
  <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Cost </font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,176</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">240</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,059</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,473</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,163</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">958</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,594</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">128</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">397</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">574</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">201</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">776</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Retirements</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(42)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(29)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(264)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(335)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(90)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(93)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(518)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Acquisition of
  subsidiaries in the year </font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposal of entities
  in the year</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(552)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(552)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transfers</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(273)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(57)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(186)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(516)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(698)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,214)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange difference
  and other</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(420)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(48)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(378)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(844)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(148)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(22)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,014)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,490</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">234</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,628</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,352</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">228</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">492</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,072</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Accrued
  depreciation </font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,116</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,461</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,577</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">216</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,856</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">45</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">127</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">553</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">680</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">693</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Retirements</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(26)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(235)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(261)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(7)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(289)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Acquisition of
  subsidiaries in the year </font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposal of entities
  in the year</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(134)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(134)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transfers</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(53)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(146)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(199)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(31)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(230)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange difference
  and other</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(88)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(253)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(341)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(25)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(350)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,076</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,380</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,456</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">77</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,546</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment </font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">379</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">379</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">409</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">798</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Retirements</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Acquisition of subsidiaries
  in the year</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposal of entities
  in the year</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transfers</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(58)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(58)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(276)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(334)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange difference
  and other</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(9)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(9)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(140)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(149)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">315</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">315</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">335</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Net tangible
  assets</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at
  the beginning </font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,681</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">240</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,598</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,519</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">691</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">732</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,941</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at
  the end</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,099</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">234</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,248</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,581</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">195</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">415</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,191</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-175</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td colspan=9 style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Tangible Assets. Breakdown by Type of Assets and Changes in the year
  2016 (Millions of euros)</font></font></p>
  </td>
 <td height=28 style="border:none;height:21.0pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">For Own Use</font></b></font></p>
  </td>
 <td rowspan=3 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Total tangible asset of Own Use</font></b></font></p>
  </td>
 <td rowspan=3 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Investment Properties</font></b></font></p>
  </td>
 <td rowspan=3 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Assets Leased out under an Operating Lease</font></b></font></p>
  </td>
 <td rowspan=3 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td rowspan=2 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td rowspan=2 style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Land and Buildings</font></b></font></p>
  </td>
 <td rowspan=2 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Work in Progress</font></b></font></p>
  </td>
 <td rowspan=2 style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Furniture, Fixtures and Vehicles</font></b></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:24.0pt;">
  <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Cost </font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td height=16 style="border:none;height:12.0pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,858</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">545</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,628</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,029</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,391</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">668</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,088</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">320</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">563</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">913</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">337</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,312</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Retirements</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(85)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(29)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(468)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(582)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(117)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(97)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(796)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Acquisition of
  subsidiaries in the year </font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposal of entities
  in the year</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(7)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(8)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(11)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transfers</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">676</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(544)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(386)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(254)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(986)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">84</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,156)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange difference
  and other</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(296)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(52)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(277)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(625)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(184)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(34)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(843)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,176</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">240</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,059</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,473</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,163</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">958</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,594</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Accrued
  depreciation </font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,103</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,551</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,654</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">116</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">202</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,972</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">45</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">106</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">561</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">667</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">690</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Retirements</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(72)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(461)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(533)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(17)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(560)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Acquisition of
  subsidiaries in the year </font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposal of entities
  in the year</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transfers</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(37)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(38)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(55)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(38)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange difference
  and other</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(20)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(153)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(173)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(11)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(24)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(208)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,116</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,461</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,577</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">216</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,856</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment </font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">354</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">354</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">808</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,172</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">143</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Retirements</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(9)</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(11)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Acquisition of
  subsidiaries in the year</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td height=16 style="border:none;height:12.0pt;">&nbsp;</td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposal of entities
  in the year</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td height=16 style="border:none;height:12.0pt;">&nbsp;</td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transfers</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(380)</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(381)</font></font></p>
  </td>
 <td height=16 style="border:none;height:12.0pt;">&nbsp;</td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange difference
  and other</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(20)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(25)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(100)</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(125)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">379</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">379</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">409</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></b></font></p>
  </td>
 <td nowrap style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">798</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Net tangible
  assets</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at
  the beginning </font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,401</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">545</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,077</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,021</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,467</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">456</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,944</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at
  the end</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 9.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,681</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">240</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,598</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,519</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">691</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">732</font></b></font></p>
  </td>
 <td nowrap style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,941</font></b></font></p>
  </td>
 <td height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_36e5e8a930b245368803c0c7c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, 2017 and 2016, the cost of fully amortized tangible assets
that remained in use were &#8364;2,624, &#8364;2,660 and &#8364;2,313 million respectively while
its recoverable residual value was not significant.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and 2016 the amount of tangible
assets under financial lease schemes on which the purchase option is expected
to be exercised was not material. The main activity of the Group is carried out
through a network of bank branches located geographically as shown in the
following table:</font></font><a name="XBRL_TS_36e5e8a930b245368803c0c7c_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Branches by
  Geographical Location (Number of branches)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,840</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,019</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,303</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,836</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,840</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,836</font></font></p>
  </td>
 </tr>
<tr style="height:10.15pt;">
  <td width=67% style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,543</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,631</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,667</font></font></p>
  </td>
 </tr>
<tr style="height:10.15pt;">
  <td width=67% style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">The United States </font></font></p>
  </td>
 <td nowrap width=11% style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">646</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">651</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">676</font></font></p>
  </td>
 </tr>
<tr style="height:10.15pt;">
  <td width=67% style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,066</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,095</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,131</font></font></p>
  </td>
 </tr>
<tr style="height:10.15pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of Eurasia</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,963</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,271</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,660</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_0561c5dc52594e3ca31bb3f84"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-176</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_459"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
following table shows the detail of the net carrying amount of the tangible
assets corresponding to Spanish and foreign subsidiaries as of December 31,
2018, 2017 and 2016:</font></font><a name="XBRL_TS_0561c5dc52594e3ca31bb3f84_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Tangible Assets by
  Spanish and Foreign Subsidiaries. Net Assets Values (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=57% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA and Spanish
  subsidiaries</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,705</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,574</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,692</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Foreign subsidiaries</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,524</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,617</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,249</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,229</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,191</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,941</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_168223ba0225407f9170d46c6"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">18. </font></b></font><a name="_Toc457490025"></a><a name="_Toc474142265"></a><a name="_Toc481589080"></a><a name="_Toc495478132"></a><a name="_Toc106020"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">&#160;&#160;Intangible assets</font></b></font><a name="XBRL_TS_168223ba0225407f9170d46c6_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_3393c40fbc7f4b11b497b11d4"></a><a name="_Toc376949952"></a><a name="_Toc376972360"></a><a name="_Toc474142266"></a><a name="_Toc106021"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">18.1&#160;
Goodwill</font></b></font><a name="XBRL_TS_3393c40fbc7f4b11b497b11d4_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_c3a03c1ca23a4c259a1e0ee22"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under this heading in the accompanying consolidated
balance sheets, according to the cash-generating units (CGUs), is as follows:</font></font><a name="XBRL_TS_c3a03c1ca23a4c259a1e0ee22_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Goodwill. Breakdown
  by CGU and Changes of the year (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:38.1pt;">
  <td width=32% style="border:none;border-bottom:solid black 1.0pt;height:38.1pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:38.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">The United States</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:38.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:38.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:38.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Colombia</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:38.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Chile</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:38.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:38.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=32% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance as of
  December 31, 2015</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,328</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">727</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">602</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">176</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,915</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange difference</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">175</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(101)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(79)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance as of
  December 31, 2016</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,503</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">624</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">523</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">191</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">68</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,937</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange difference</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(666)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(115)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(44)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(22)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(851)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(33)</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(43)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance as of
  December 31, 2017</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,837</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">509</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">493</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">168</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,062</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange difference</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">229</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(127)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">118</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=32% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance as of December
  31, 2018</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,066</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">382</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">519</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">161</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,180</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_c7aded545f1d417aaa963ee16"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In 2018, 2017 and 2016, there were no significant
business combinations.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-177</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_460"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Impairment
Test</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_a3d3b0ab4d7c4df7b8d6382f4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">As mentioned in Note 2.2.8 of the consolidated financial
statements for the year 2018</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">, the cash-generating units (CGUs)
to which goodwill has been allocated are periodically tested for impairment by
including the allocated goodwill in their carrying amount. This analysis is
performed at least annually and whenever there is any indication of impairment.
</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Both the CGU&#8217;s fair values and the fair values
assigned to its assets and liabilities had been based on the estimates and
assumptions that the Group&#8217;s Management has deemed most likely given the
circumstances. However, some changes to the valuation assumptions used could result
in differences in the impairment test result.</font></font><a name="XBRL_CS_a3d3b0ab4d7c4df7b8d6382f4_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_8458b8d31209434e8d38d53e0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Three key assumptions are used when
calculating the impairment test. These hypothesis are the ones to which the
amount of the recoverable value is most sensitive: </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><a name="XBRL_CS_447b2145bfcc4fdb9867c13ae"></a><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
forecast cash flows estimated by the Group's management, and based on the
latest available budgets for the next 5 years.</font></font><a name="XBRL_CS_447b2145bfcc4fdb9867c13ae_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
constant sustainable growth rate for extrapolating cash flows, starting in the
fifth year (2023), beyond the period covered by the budgets or forecasts.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
discount rate on future cash flows, which coincides with the cost of capital
assigned to each CGU, and which consists of a risk-free rate plus a premium
that reflects the inherent risk of each of the businesses evaluated.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The focus used by the Group's management to determine the values
of the hypotheses is based both on its projections and past experience. These
values are uniform and use external sources of information. At the same time,
the valuations of the most significant goodwill have in general been reviewed by
independent experts (not the Group's external auditors) who apply different
valuation methods according to each type of asset and liability. The valuation
methods used are: The method for calculating the discounted value of future
cash flows, the market transaction method and the cost method.</font></font><a name="XBRL_CS_8458b8d31209434e8d38d53e0_bclEnd"></a></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and 2016, no
indicators of impairment have been identified in any of the main CGUs.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-178</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_461"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Goodwill - United States CGU</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="background:white;border:none;"><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;line-height:115%;">The Group&#8217;s most significant</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> </font><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;line-height:115%;">goodwill corresponds to the CGU in the United States,
the main significant hypotheses used in the impairment test of this mentioned
CGU are:</font></font><a name="XBRL_TS_c7aded545f1d417aaa963ee16_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Impairment test
  hypotheses CGU Goodwill in the United States </font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=67% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Discount rate</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10.5%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10.0%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10.0%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=67% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Sustainable growth
  rate</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.0%</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.0%</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.0%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_beb3181d48f14c8b883a92318"></a><font face=Arial,sans-serif style="background:white;border:none;"><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;line-height:115%;">Given the
potential growth of the sector, in accordance with paragraph 33 of IAS 36, as
of December 31, 2018, 2017 and 2016 the Group used a steady growth rate of 4.0%
based on the real GDP growth rate of the United States and expected inflation.
This 4.0% rate is less than the historical average of the past 30 years of the
nominal GDP rate of the United States and lower than the real GDP growth
forecasted by the IMF.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="background:white;border:none;"><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;line-height:115%;">The assumptions with a greater
relative weight and whose volatility could affect more in determining the
present value of the cash flows starting on the fifth year are the discount
rate and the sustainable growth rate. Below is shown the increased (or
decreased) amount of the recoverable amount as a result of a reasonable
variation (in basis points) of each of the key assumptions:</font></font><a name="XBRL_TS_beb3181d48f14c8b883a92318_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td colspan=3 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Sensitivity analysis
  for main hypotheses - USA (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td width=78% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Impact of an increase of 50 basis points (*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Impact of a decrease of 50 basis points (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=78% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Discount rate</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,009)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,176</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=78% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Sustainable growth
  rate</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">526</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(451)</font></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:-14.2pt;"><a name="XBRL_FS_0df4e0ccea05455fb2b8af742"></a><a name="XBRL_TS_0ea0d856c8e3412390dd42e79"></a><a name="XBRL_TS_8b190c1b72b9413a8da8cb270"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Based on historical changes, the use of 50 basis points to
calculate the sensitivity analysis would be a reasonable variation with respect
to the observed variations over the last five years.</font></font><a name="XBRL_FS_0df4e0ccea05455fb2b8af742_bclEnd"></a><a name="XBRL_TS_0ea0d856c8e3412390dd42e79_bclEnd"></a><a name="XBRL_TS_8b190c1b72b9413a8da8cb270_bclEnd"></a></p>

<p align=left style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_55831393f0814368a3ffbb9c3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Another assumption used, and with a
high impact on the impairment test, is the budgets of the CGU and specifically
the effect that changes in interest rates have on cash flows.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-179</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_462"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Goodwill - Turkey CGU</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="background:white;border:none;"><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;line-height:115%;">The Group&#8217;s most significant
goodwill corresponds to the CGU in the Turkey, the main significant hypotheses
used in the impairment test of this mentioned CGU are:</font></font><a name="XBRL_TS_55831393f0814368a3ffbb9c3_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Impairment test
  assumptions CGU Goodwill in Turkey</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.45pt;">
  <td width=67% style="border:none;height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Discount rate</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24.3%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18.0%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17.7%</font></font></p>
  </td>
 </tr>
<tr style="height:14.45pt;">
  <td width=67% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Sustainable growth
  rate</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.0%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.0%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.0%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_79f4a44ec9194ae8b7d56da40"></a><font face=Arial,sans-serif style="background:white;border:none;"><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;line-height:115%;">Given the
potential growth of the sector, in accordance with paragraph 33 of IAS 36, as
of December 31, 2018, 2017 and 2016 the Group used a steady growth rate of 7.0%
based on the real GDP growth rate of Turkey and expected inflation. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="background:white;border:none;"><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;line-height:115%;">The assumptions with a greater
relative weight and whose volatility could affect more in determining the
present value of the cash flows starting on the fifth year are the discount
rate and the sustainable growth rate. Below is shown the increased (or
decreased) amount of the recoverable amount as a result of a reasonable
variation (in basis points) of each of the key assumptions:</font></font><a name="XBRL_TS_79f4a44ec9194ae8b7d56da40_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.9pt;">
  <td colspan=3 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Sensitivity analysis
  for main assumptions - Turkey (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:23.45pt;">
  <td width=78% style="border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Impact of an increase of 50 basis points (*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Impact of a decrease of 50 basis points (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=78% style="border:none;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Discount rate</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(149)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">158</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=78% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Sustainable growth
  rate</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(37)</font></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:-14.2pt;"><a name="XBRL_FS_f724ec522d9643f79e2b09212"></a><a name="XBRL_TS_5e7203e002f84c6ca34317855"></a><a name="XBRL_TS_cecf5661288548d7af56510d3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Based on historical changes, the use of 50 basis points to
calculate the sensitivity analysis would be a reasonable variation with respect
to the observed variations over the last five years.</font></font><a name="XBRL_FS_f724ec522d9643f79e2b09212_bclEnd"></a><a name="XBRL_TS_5e7203e002f84c6ca34317855_bclEnd"></a><a name="XBRL_TS_cecf5661288548d7af56510d3_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_7f419ad6523d4220b15eae4c1"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Goodwill in business combinations</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_6fa8e28263674eb89fa7cd851"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">There were no significant business combinations during 2018, 2017
and 2016.</font></font><a name="XBRL_CS_6fa8e28263674eb89fa7cd851_bclEnd"></a><a name="XBRL_TS_7f419ad6523d4220b15eae4c1_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_5d2badab299c4083befb2a570"></a><a name="_Toc106024"></a><a name="_Toc474142267"></a><a name="_Toc376972361"></a><a name="_Toc376949953"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">18.2&#160; Other intangible
assets</font></b></font><a name="XBRL_TS_5d2badab299c4083befb2a570_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_4ce7cdb347c34596a2103ecca"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance and changes of this heading in the accompanying
consolidated balance sheets, according to the nature of the related items, is
as follows:</font></font><a name="XBRL_TS_4ce7cdb347c34596a2103ecca_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other intangible
  assets (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=57% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Computer software
  acquisition expenses</font></font></p>
  </td>
 <td width=10% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,605</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,682</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,877</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=57% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other intangible
  assets with an infinite useful life</font></font></p>
  </td>
 <td width=10% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other intangible
  assets with a definite useful life</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">518</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">708</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">960</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,134</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,402</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,849</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_e03e3d130079451abc709d7f8"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-180</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_463"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The changes
of this heading in December 31, 2018, 2017 and 2016, are as follows:</font></font><a name="XBRL_TS_e03e3d130079451abc709d7f8_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other Intangible
  Assets (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,402</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,849</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,137</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Acquisition
  of&nbsp;subsidiaries&nbsp;in the year</font></font></p>
  </td>
 <td width=11% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td width=11% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">552</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">564</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">645</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amortization in the
  year</font></font></p>
  </td>
 <td width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">45</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(614)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(694)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(735)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange differences
  and other </font></font></p>
  </td>
 <td width=11% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(123)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(305)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(196)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(83)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,134</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,402</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,849</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_3bf040a410174d33befb86967"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017and
2016, the cost of fully amortized intangible assets that remained in use were
&#8364;1,604 million, &#8364;1,380 million and &#8364;1,501 million respectively, while their
recoverable value was not significant.</font></font><a name="XBRL_TS_3bf040a410174d33befb86967_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_6ef17c870ccd470c811384241"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">19. </font></b></font><a name="_Toc376949961"></a><a name="_Toc347755857"></a><a name="_Toc331260319"></a><a name="_Toc299032878"></a><a name="_Toc299031539"></a><a name="_Toc299029457"></a><a name="_Toc298431721"></a><a name="_Toc495478133"></a><a name="_Toc481589081"></a><a name="_Toc474142268"></a><a name="_Toc457490026"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">&#160;&#160;Tax assets and liabilities</font></b></font><a name="XBRL_TS_6ef17c870ccd470c811384241_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc376972363"></a><a name="_Toc376949955"></a><a name="XBRL_TS_70b50f65dd6e42d1af1cec1ce"></a><a name="_Toc474142269"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">19.1&#160; Consolidated tax group</font></b></font><a name="XBRL_TS_70b50f65dd6e42d1af1cec1ce_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_b9402d4fcd104603aa17fcaff"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Pursuant to
current legislation, the BBVA Consolidated Tax Group includes the Bank (as the
parent company) and its Spanish subsidiaries that meet the requirements
provided for under Spanish legislation regulating the taxation regime for the
consolidated profit of corporate groups.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group&#8217;s non-Spanish other banks and subsidiaries file tax returns in
accordance with the tax legislation in force in each country.</font></font><a name="XBRL_TS_b9402d4fcd104603aa17fcaff_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_baed141a5d864531adb373483"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">19.2&#160; Years open for review by the tax authorities</font></b></font><a name="XBRL_TS_baed141a5d864531adb373483_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_8ba4191f59944b919756940dd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The years open to review in the
BBVA Consolidated Tax Group as of December 31, 2018 are 2014 and subsequent
years for the main taxes applicable.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The remainder of the Spanish consolidated
entities in general have the last four years open for inspection by the tax
authorities for the main taxes applicable, except for those in which there has
been an interruption of the limitation period due to the start of an
inspection.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the year 2017 as a consequence of the tax
authorities examination reviews, inspections were initiated through the year
2013 inclusive, and all such years closed with acceptance during the year 2017.
Therefore, these inspections did not constitute any material amount to record
in the Consolidated Annual accounts as their impact was provisioned.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In view of the varying interpretations that can
be made of some applicable tax legislation, the outcome of the tax inspections
of the open years that may be conducted by the tax authorities in the future
may give rise to contingent tax liabilities which cannot be reasonably
estimated at the present time. However, the Group considers that the
possibility of these contingent liabilities becoming actual liabilities is
remote and, in any case, the tax charge which might arise therefore would not
materially affect the Group&#8217;s accompanying consolidated financial statements.</font></font><a name="XBRL_TS_8ba4191f59944b919756940dd_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_7e953b26b21e4f57a6d52ff1f"></a><a name="_Toc106028"></a><a name="_Toc474142271"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-181</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_464"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">19.3&#160; Reconciliation</font></b></font><a name="XBRL_TS_7e953b26b21e4f57a6d52ff1f_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_6d4f865456bd48898a5c7899f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The reconciliation of the Group&#8217;s
corporate income tax expense resulting from the application of the Spanish
corporation income tax rate and the income tax expense recognized in the
accompanying consolidated income statements is as follows:</font></font><a name="XBRL_TS_6d4f865456bd48898a5c7899f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=7 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Reconciliation of
  Taxation at the Spanish Corporation Tax Rate to the Tax Expense Recorded for
  the Period&nbsp;&#160; (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=37% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=2 width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.9pt;">
  <td width=37% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Effective Tax </font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Effective Tax </font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Effective Tax </font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Profit or (-) loss
  before tax</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,446</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,931</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,392</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">From continuing
  operations</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,446</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,931</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,392</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">From discontinued
  operations</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td width=37% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Taxation at Spanish
  corporation tax rate 30%</font></font></p>
  </td>
 <td nowrap width=11% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,534</font></font></p>
  </td>
 <td nowrap width=10% style="height:20.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,079</font></font></p>
  </td>
 <td nowrap width=10% style="height:20.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,918</font></font></p>
  </td>
 <td nowrap width=11% style="height:20.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Lower effective tax
  rate from foreign entities&#160; (*)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(234)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(307)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(298)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico </font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(78)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28%</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(100)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27%</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(105)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26%</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Chile </font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(18)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21%</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(29)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21%</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(27)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17%</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Colombia </font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33%</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29%</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36%</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Peru </font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28%</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(16)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27%</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(18)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26%</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(132)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20%</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(182)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21%</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(176)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21%</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Others</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Revenues with lower
  tax rate (dividends/capital gains)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(57)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(53)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(69)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity accounted
  earnings</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other effects</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">452</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">159</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Current income
  tax</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,295</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,169</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,699</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="height:11.45pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Continuing
  operations</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,295</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,169</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,699</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=37% style="height:11.45pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Discontinued
  operations</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_bf31b83f9ae94ff6a1aa81e8e"></a><a name="XBRL_TS_a4a79ef3821f4bb797f7a3f84"></a><a name="XBRL_TS_bf8dbdbcdbaa4e1cbd526d63f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Calculated by applying the
difference between the tax rate in force in Spain and the one applied to the
Group&#8217;s earnings in each jurisdiction.</font></font><a name="XBRL_FS_bf31b83f9ae94ff6a1aa81e8e_bclEnd"></a><a name="XBRL_TS_a4a79ef3821f4bb797f7a3f84_bclEnd"></a><a name="XBRL_TS_bf8dbdbcdbaa4e1cbd526d63f_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_473217b458d74b58b33ab86c2"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
effective income tax rate for the Group in the years ended December 31, 2018,
2017 and 2016 is as follows:</font></font><a name="XBRL_TS_473217b458d74b58b33ab86c2_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Effective Tax Rate
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Income from:</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Consolidated Tax
  Group</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,482</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(678)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(483)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other Spanish
  Entities</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">52</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Foreign Entities</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,931</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,580</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,823</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,446</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,931</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,392</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Income tax and other
  taxes</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,295</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,169</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,699</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Effective Tax
  Rate</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27.17%</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31.3%</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26.6%</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_6282091a4f1c407f9afd36c74"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the year
2018, the changes in the nominal tax rate on corporate income tax, in
comparison with those existing in the previous year, in the main countries in
which the Group has a presence, have been in United States (federal tax from
35% to 21%), Turkey (from 20% to 22%), Argentina (from 35% to 30%), Chile (from
25.5% to 27%) and Colombia (from 40% to 37%). In the year 2017, the changes in
the nominal tax rate on corporate income tax, in comparison with those existing
in the previous period, in the main countries in which the Group has a
presence, have been in Chile (from 24.0% to 25.5%) and Peru (from 28.0% to 29.5%).</font></font><a name="XBRL_TS_6282091a4f1c407f9afd36c74_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_7d700b9f814f4f5d9f7b86742"></a><a name="_Toc106029"></a><a name="_Toc474142272"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-182</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_465"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">19.4&#160; Income tax recognized in equity</font></b></font><a name="XBRL_TS_7d700b9f814f4f5d9f7b86742_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_4a469b1bb26c402eb1a48ce1e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition
to the income tax expense recognized in the accompanying consolidated income
statements, the Group has recognized the following income tax charges for these
items in the consolidated total equity:</font></font><a name="XBRL_TS_4a469b1bb26c402eb1a48ce1e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Tax recognized in
  total equity (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Charges to
  total equity</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities and
  others</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(87)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(355)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(533)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(56)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(74)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(143)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(429)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(535)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(143)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(429)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(535)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_8e24d3d253584cd69e63d6b06"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">19.5&#160; Current and deferred taxes</font></b></font><a name="XBRL_TS_8e24d3d253584cd69e63d6b06_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_ca460c422515406bbda575ff6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The balance
under the heading &quot;Tax assets&quot; in the accompanying consolidated
balance sheets includes current and deferred tax assets. The balance under the
&#8220;Tax liabilities&#8221; heading includes the Group&#8217;s various current and deferred tax
liabilities. The details of the mentioned tax assets and liabilities are as
follows:</font></font><a name="XBRL_TS_ca460c422515406bbda575ff6_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Tax assets and
  liabilities (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Tax assets</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=56% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Current tax assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,784</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,163</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,853</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=56% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deferred tax assets </font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,316</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,725</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,391</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=56% style="height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Pensions</font></font></p>
  </td>
 <td width=11% style="height:11.45pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">405</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">395</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,190</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=56% style="height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Financial
  Instruments</font></font></p>
  </td>
 <td width=11% style="height:11.45pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,401</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,453</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,371</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=56% style="height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Other assets
  (investments in subsidiaries)</font></font></p>
  </td>
 <td width=11% style="height:11.45pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">302</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">357</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">662</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=56% style="height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment losses</font></font></p>
  </td>
 <td width=11% style="height:11.45pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,375</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,005</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,390</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=56% style="height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td width=11% style="height:11.45pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">990</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">870</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,236</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=56% style="height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Secured tax assets
  (*)</font></font></p>
  </td>
 <td width=11% style="height:11.45pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,363</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,433</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,431</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Tax losses</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,480</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,212</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,111</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,100</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,888</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,245</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Tax Liabilities</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=56% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Current tax
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,230</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,114</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,276</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=56% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deferred tax
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,046</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,184</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,392</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=56% style="height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Financial
  Instruments</font></font></p>
  </td>
 <td width=11% style="height:11.45pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,136</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,427</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,794</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Charge for income
  tax and other taxes</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 9.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">910</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">757</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,598</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,276</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,298</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,668</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_6620524173b24b28b8a372eff"></a><a name="XBRL_FS_8f8122b8664e4505a9d354603"></a><a name="XBRL_TS_f84413eec06e432fb42ad5cc3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Law guaranteeing the deferred
tax assets has been approved in Spain in 2013. In years 2016 and 2017
guaranteed deferred tax assets also existed in Portugal but in year 2018 they
lost the guarantee due to the merge between BBVA Portugal S.A. and BBVA, S.A.</font></font><a name="XBRL_FS_8f8122b8664e4505a9d354603_bclEnd"></a><a name="XBRL_TS_f84413eec06e432fb42ad5cc3_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;"> &nbsp;</font></font><a name="XBRL_TS_6620524173b24b28b8a372eff_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_f95a03888b7249bd8d28efdd6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">At the end
of year 2018, a tax reform has taken place in Colombia, which is expected to
hold a 37% tax rate for financial institutions in 2019 (prior to the reform, a
33% tax rate was planned).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The most significant variations of the deferred assets and
liabilities in the years 2018, 2017 and 2016 derived from the followings
causes:</font></font><a name="XBRL_TS_f95a03888b7249bd8d28efdd6_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deferred tax assets
  and liabilities (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=25% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.9pt;">
  <td width=25% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deferred Assets</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deferred Liabilities</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deferred Assets</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deferred Liabilities</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deferred Assets</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deferred Liabilities</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=25% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,725</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,184</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,391</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,392</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,878</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,418</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=25% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Pensions</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(795)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">168</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=25% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Financials
  Instruments</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(52)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(291)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(367)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(103)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(113)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=25% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other assets</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(55)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(305)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">108</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=25% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment losses</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">370</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(385)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=25% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Others</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">120</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">153</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(366)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(841)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">255</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=25% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Guaranteed Tax assets</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(70)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(105)</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=25% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Tax Losses</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">268</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">101</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">146</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=25% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Charge for income tax
  and other taxes</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=25% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,316</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,046</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,725</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,184</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,391</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,392</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-183</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_466"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><a name="XBRL_TS_aa993e545df844df9f33a8b09"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With respect to the changes in
assets and liabilities due to deferred tax contained in the above table, the
following should be pointed out:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">The decrease in
guaranteed tax assets is motivated because those corresponding to Portugal are
no longer considered as guaranteed.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">The increase in tax
losses is mainly due to the Corporate Income Tax (CIT) return 2017 that has
generated differences with respect to the estimate of Corporate Tax reflected
in the financial statements, on the other hand, the increase in tax losses is
also due </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">to the generation of negative tax
bases and deductions during year 2018.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The evolution of the deferred tax assets and
liabilities (without taking into consideration the guaranteed deferred tax
asset and the tax losses) in net terms is a decrease of &#8364;531 million mainly due
to the first implementation of IFRS9, the variations in the valuation of
portfolio securities and to the operation of the corporate income tax in which
differences between accounting and taxation produce movements in the deferred
taxes.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:4.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On the
deferred tax assets and liabilities contained in the table above, those
included in section 19.4 above have been recognized against the entity's
equity, and the rest against earnings for the year or reserves.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, 2017 and 2016, the estimated amount of temporary differences
associated with investments in subsidiaries, joint ventures and associates,
which were not recognized deferred tax liabilities in the accompanying
consolidated balance sheets, amounted to 443 million euros, 376 million euros
and 874 million euros, respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Of the
deferred tax assets contained in the above table, the detail of the items and
amounts guaranteed by the Spanish government, broken down by the items that
originated those assets is as follows:</font></font><a name="XBRL_TS_aa993e545df844df9f33a8b09_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Secured tax assets
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017 (*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016 (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Pensions</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,874</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,897</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,901</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impairment losses</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,489</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,536</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,530</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,363</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,433</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,431</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><a name="XBRL_FS_aee9d30510544914a9cd19466"></a><a name="XBRL_TS_c50e811251d54e5087c17133e"></a><a name="XBRL_TS_57a53315fdf1404a8849c6854"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; In 2017 and 2016 guaranteed
deferred tax assets also existed in Portugal but in 2018 they lost the
guarantee.</font></font><a name="XBRL_FS_aee9d30510544914a9cd19466_bclEnd"></a><a name="XBRL_TS_57a53315fdf1404a8849c6854_bclEnd"></a><a name="XBRL_TS_c50e811251d54e5087c17133e_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_b7a9bc04f1504d828c35aca54"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018,
non-guaranteed net deferred tax assets of the above table amounted to &#8364;3,907
million (&#8364;3,108 and &#8364;3,568 million as of December 31, 2017 and 2016
respectively), which broken down by major geographies is as follows:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">Spain: Net deferred tax
assets recognized in Spain totaled &#8364;<a name="XBRL_CS_8fade88426444e1cab966393e"></a>2,653<a name="XBRL_CS_8fade88426444e1cab966393e_bclEnd"></a> million as of December 31,
2018 (&#8364;<a name="XBRL_CS_cfe5168d92d04db99ddd7b553"></a>2,052<a name="XBRL_CS_cfe5168d92d04db99ddd7b553_bclEnd"></a> and &#8364;<a name="XBRL_CS_5da3a8e612b24c41ba845fda7"></a>2,007<a name="XBRL_CS_5da3a8e612b24c41ba845fda7_bclEnd"></a> million as of December 31,
2017 and 2016, respectively). &#8364;<a name="XBRL_CS_670141d1071c4184907d4181c"></a>1,462<a name="XBRL_CS_670141d1071c4184907d4181c_bclEnd"></a> million of the figure
recorded in the year ended December 31, 2018 for net deferred tax assets
related to tax credits and tax loss carry forwards and &#8364;<a name="XBRL_CS_f1b7bd8fb1014c0eb15c3354f"></a>1,191<a name="XBRL_CS_f1b7bd8fb1014c0eb15c3354f_bclEnd"></a> million relate to
temporary differences. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">Mexico: Net deferred
tax assets recognized in Mexico amounted to &#8364;<a name="XBRL_CS_c152fc0635b343e59663a83e6"></a>826<a name="XBRL_CS_c152fc0635b343e59663a83e6_bclEnd"></a> million as of December 31,
2018 (&#8364;<a name="XBRL_CS_08addd774bc44140859ccda05"></a>615<a name="XBRL_CS_08addd774bc44140859ccda05_bclEnd"></a> and &#8364;<a name="XBRL_CS_11d5ba21ffd049b080326538f"></a>698<a name="XBRL_CS_11d5ba21ffd049b080326538f_bclEnd"></a> million as of December 31,
2017 and 2016, respectively). <a name="XBRL_CS_9395c06b16604b289c985186d"></a>99.97%
of deferred tax assets as of December 31, 2018 relate to temporary differences<a name="XBRL_CS_9395c06b16604b289c985186d_bclEnd"></a>. <a name="XBRL_CS_75683e8b11e2409c95c4491dc"></a>The remainders are tax credits carry forwards<a name="XBRL_CS_75683e8b11e2409c95c4491dc_bclEnd"></a>.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">South America: Net
deferred tax assets recognized in South America amounted to &#8364;<a name="XBRL_CS_32021aa2c1af4299ac5cd4201"></a>383<a name="XBRL_CS_32021aa2c1af4299ac5cd4201_bclEnd"></a> thousand as of December
31, 2018 (&#8364;<a name="XBRL_CS_58be060ad2eb4bc1b49f17765"></a>26<a name="XBRL_CS_58be060ad2eb4bc1b49f17765_bclEnd"></a> and &#8364;<a name="XBRL_CS_3c128ba4d2084caa82d094914"></a>362<a name="XBRL_CS_3c128ba4d2084caa82d094914_bclEnd"></a> million as of December 31,
2017 and 2016, respectively). <a name="XBRL_CS_6f556481ba824c9281e00174a"></a>Practically
all the deferred tax assets are related to temporary differences<a name="XBRL_CS_6f556481ba824c9281e00174a_bclEnd"></a>, <a name="XBRL_CS_12654314beb745a3b7d25ef3d"></a>only 1.03% are related to tax credits<a name="XBRL_CS_12654314beb745a3b7d25ef3d_bclEnd"></a>.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-184</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_467"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">The United States: Net
deferred tax assets recognized in The United States amounted to &#8364;<a name="XBRL_CS_9208d3ca47df45d6b6e131192"></a>164<a name="XBRL_CS_9208d3ca47df45d6b6e131192_bclEnd"></a> million as of December 31,
2018 (&#8364;<a name="XBRL_CS_add7e3fdf25e41e7bfd822899"></a>180<a name="XBRL_CS_add7e3fdf25e41e7bfd822899_bclEnd"></a> and &#8364;<a name="XBRL_CS_aae34dabfc864830a35eeef8d"></a>345<a name="XBRL_CS_aae34dabfc864830a35eeef8d_bclEnd"></a> million as of December 31,
2017 and 2016, respectively). <a name="XBRL_CS_61eebd9f78fe4b4694d0ad243"></a>All
the deferred tax assets relate to temporary differences<a name="XBRL_CS_61eebd9f78fe4b4694d0ad243_bclEnd"></a>.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=black face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">Turkey: Net deferred
tax assets recognized in Turkey amounted to &#8364;<a name="XBRL_CS_7cf701a8f2c3472b837c8379d"></a>250<a name="XBRL_CS_7cf701a8f2c3472b837c8379d_bclEnd"></a> million as of December 31,
2018 (&#8364;<a name="XBRL_CS_a13be7230e87413aa18ba962a"></a>224<a name="XBRL_CS_a13be7230e87413aa18ba962a_bclEnd"></a> and &#8364;<a name="XBRL_CS_a6a004b17b4e4d20ad4563704"></a>135<a name="XBRL_CS_a6a004b17b4e4d20ad4563704_bclEnd"></a> million as of December 31,
2017 and 2016 respectively). As of December 31, 2018, <a name="XBRL_CS_90fd359f726341fda53ec6032"></a>all the deferred tax assets correspond
to &#8364;15 million of tax credits related to tax losses carry forwards and
deductions<a name="XBRL_CS_90fd359f726341fda53ec6032_bclEnd"></a> <a name="XBRL_CS_244884c612fc4f33ac451f156"></a>and &#8364;235 million relate to temporary
differences<a name="XBRL_CS_244884c612fc4f33ac451f156_bclEnd"></a>.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Based on
the information available as of December 31, 2018, including historical levels
of benefits and projected results available to the Group for the coming years,
it is considered that sufficient taxable income will be generated for the
recovery of above mentioned unsecured deferred tax assets when they become
deductible according to the tax laws.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_CS_47576cdb7eae498f8d926bd3a"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On the other hand, the Group has
not recognized certain deductible temporary differences, negative tax bases and
deductions for which, in general, there is no legal period for offsetting,
amounting to approximately &#8364; 2,236 million, which are mainly originated by
Catalunya Banc.</font></font><a name="XBRL_CS_47576cdb7eae498f8d926bd3a_bclEnd"></a><a name="XBRL_TS_b7a9bc04f1504d828c35aca54_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc376949969"></a><a name="_Toc347755858"></a><a name="_Toc331260320"></a><a name="_Toc298431722"></a><a name="_Toc299032879"></a><a name="_Toc299031540"></a><a name="_Toc299029458"></a><a name="XBRL_TS_f80730ae4955482e92d508bf0"></a><a name="_Toc495478134"></a><a name="_Toc481589082"></a><a name="_Toc474142274"></a><a name="_Toc457490027"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">20.&#160;&#160;
Other assets and liabilities</font></b></font><a name="XBRL_TS_f80730ae4955482e92d508bf0_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_c61aafe6d5e143859796b9ccc"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
these headings in the accompanying consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_c61aafe6d5e143859796b9ccc_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other assets and
  liabilities: (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=57% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Inventories</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">635</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">229</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,298</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=57% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Real estate</font></font></p>
  </td>
 <td width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">633</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">226</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,268</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=57% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Others</font></font></p>
  </td>
 <td width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=57% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transactions in
  progress</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">249</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">156</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">241</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=57% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Accruals</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">702</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">768</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">723</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=57% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Prepaid expenses</font></font></p>
  </td>
 <td width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">465</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">509</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">518</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=57% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Other prepayments
  and accrued income</font></font></p>
  </td>
 <td width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">237</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">259</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">204</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other items</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,886</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,207</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,012</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total Other
  Assets</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,472</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,359</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,274</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=57% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transactions in
  progress</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">165</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">127</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=57% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Accruals</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,558</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,490</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,721</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=57% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Accrued expenses</font></font></p>
  </td>
 <td width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,119</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,997</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,125</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=57% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Other accrued
  expenses and deferred income</font></font></p>
  </td>
 <td width=10% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">439</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">493</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">596</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other items</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,704</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,894</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,131</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total Other
  Liabilities</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,301</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,550</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,979</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_7d4db1563b444bc2b9a6f37ad"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&quot;Inventories&quot; includes
the net book value of land and building purchases that the Group&#8217;s Real estate
entities have available for sale or as part of their business. Balances under
this heading include mainly real estate assets acquired by these entities from
distressed customers (mostly in Spain), net of their corresponding losses. The
roll-forward of our inventories from distressed customers is provided below:</font></font><a name="XBRL_TS_7d4db1563b444bc2b9a6f37ad_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.6pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Inventories from
  Distressed Customers (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.9pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Gross value</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the beginning</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">91</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,499</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,318</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Business combinations
  and disposals</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Acquisitions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">533</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">336</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=67% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Disposals</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,288)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,214)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Others</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(6,653)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">59</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">71</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">91</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,499</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Accumulated
  impairment losses </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(26)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,385)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Carrying amount</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">65</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,114</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-185</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_468"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_c371e4150ee5474a90fb7a158"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2017, the majority of the balance of real estate assets acquired
from distressed customers was reclassified to the heading &quot;Non-current
assets and disposable groups of items that have been classified as held for
sale&quot; (see Note 21) due to the agreement with Cerberus to transfer the
Real Estate business in Spain (see Note 3).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The impairment included under the heading &#8220;Impairment or reversal
of impairment of non- financial assets&#8221; of the accompanying consolidated
financial statements were &#8364;51, &#8364;306 and &#8364;375 million in 2018, 2017 and 2016,
respectively (see Note 48).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As indicated in Note 2.2.6,
&#8220;Inventories&#8221; are valued at the lower amount between its fair value less costs
to sell and its book value. As of December 31, 2018, practically all of the
carrying amount of the assets recorded at fair value on a non-recurring basis
coincides with their fair value.</font></font><a name="XBRL_TS_c371e4150ee5474a90fb7a158_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_39af99bc33ef41cab8fa0ef2e"></a><a name="_Toc495478135"></a><a name="_Toc481589083"></a><a name="_Toc474142275"></a><a name="_Toc457490028"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">21.&#160;&#160; Non-current assets and
disposal groups held for sale</font></b></font><a name="XBRL_TS_39af99bc33ef41cab8fa0ef2e_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_21538acb591c4df9b78ad8d7b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
composition of the balance under the heading &#8220;Non-current assets and disposal
groups classified as held for sale&#8221; in the accompanying consolidated balance
sheets, broken down by the origin of the assets, is as follows:</font></font><a name="XBRL_TS_21538acb591c4df9b78ad8d7b_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:23.45pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-current assets
  and disposal groups classified as held for sale Breakdown by items (Millions
  of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=57% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Foreclosures and
  recoveries</font></font></p>
  </td>
 <td width=10% style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,211</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,207</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,225</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=57% style="height:10.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Foreclosures (*)</font></font></p>
  </td>
 <td width=10% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,135</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,047</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,057</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=57% style="height:10.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Recoveries from
  financial leases</font></font></p>
  </td>
 <td width=10% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">76</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">160</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">168</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=57% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other assets from
  tangible assets</font></font></p>
  </td>
 <td width=10% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">433</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">447</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,181</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=57% style="height:10.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Property, plant and
  equipment</font></font></p>
  </td>
 <td width=10% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">276</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">447</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">378</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=57% style="height:10.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Operating leases</font></font></p>
  </td>
 <td width=10% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">803</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=57% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Investment
  properties (*)</font></font></p>
  </td>
 <td width=10% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">158</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=57% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Business sale -
  Assets (**)</font></font></p>
  </td>
 <td width=10% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18,623</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=57% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Accrued amortization
  (***)</font></font></p>
  </td>
 <td width=10% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(44)</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(77)</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(116)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Impairment losses </font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(628)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,348)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,727)</font></font></p>
  </td>
 </tr>
<tr style="height:23.45pt;">
  <td width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">Total Non-current
  assets and disposal groups classified as held for sale</font></b></font></p>
  </td>
 <td width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,001</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,853</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:23.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,603</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_1b24cd74d391450cac94c17e6"></a><a name="XBRL_FS_17e11d4268fb4c9cb40714bd7"></a><a name="XBRL_FS_c168d81ee8c34502b876da10a"></a><a name="XBRL_TS_7b77ca81b5fb42009e9e9580f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160;&#160; Corresponds mainly to the
agreement with Cerberus to transfer the &quot;Real Estate&quot; business in
Spain (see Note 3).</font></font><a name="XBRL_FS_17e11d4268fb4c9cb40714bd7_bclEnd"></a><a name="XBRL_FS_c168d81ee8c34502b876da10a_bclEnd"></a><a name="XBRL_TS_7b77ca81b5fb42009e9e9580f_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><a name="XBRL_FS_448e32d0fcf94021a8a0a23d0"></a><a name="XBRL_TS_c0dd7a142b944ffa997eb5400"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(**)&#160; Corresponds mainly to the
BBVA&#180;s stake in BBVA Chile (see Note 3).</font></font><a name="XBRL_FS_448e32d0fcf94021a8a0a23d0_bclEnd"></a><a name="XBRL_TS_c0dd7a142b944ffa997eb5400_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><a name="XBRL_FS_d475f6c9e6ef42cbad25141d9"></a><a name="XBRL_TS_ecfc2ec4033d4f2fb43f8ba2a"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(***) Amortization
accumulated until related asset reclassified as &#8220;non-current assets and
disposal groups held for sale&#8221;</font></font><a name="XBRL_TS_ecfc2ec4033d4f2fb43f8ba2a_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">.</font></font><a name="XBRL_FS_d475f6c9e6ef42cbad25141d9_bclEnd"></a><a name="XBRL_TS_1b24cd74d391450cac94c17e6_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_b1b80fcde23b47c6b39e06eff"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-186</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_469"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The changes in the balances of &#8220;Non-current assets and disposal
groups classified as held for sale&#8221; in 2018, 2017 and 2016 are as follows:</font></font><a name="XBRL_TS_b1b80fcde23b47c6b39e06eff_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.6pt;">
  <td colspan=7 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-current assets
  and disposal groups classified as held for sale Changes in the year 2018
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=34% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Foreclosed Assets</font></b></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">From Own Use Assets </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(*)</font></b></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other assets (**)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:31.15pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:31.15pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:31.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:31.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Foreclosed Assets through Auction Proceeding</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:31.15pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Recovered Assets from Finance Leases</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Cost&#160; (1)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,047</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">160</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">371</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18,623</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25,201</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Additions </font></font></p>
  </td>
 <td width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">637</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">696</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=34% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td width=11% style="height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=34% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Retirements (sales
  and other decreases)</font></font></p>
  </td>
 <td width=11% style="height:7.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,354)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(135)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(227)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(18,594)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(23,310)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfers, other
  movements and exchange differences</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(195)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">241</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,135</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">76</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">389</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,629</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.75pt;">
  <td valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Impairment&#160; (2)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,102</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">194</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,348</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=34% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Additions </font></font></p>
  </td>
 <td width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">195</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">208</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Retirements (sales
  and other decreases)</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(793)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(37)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(101)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(931)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other movements and
  exchange differences</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(22)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">482</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">124</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">628</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">Balance at the end of
  Net carrying value (1)-(2)</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,653</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">265</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,001</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_7b26a1f9560c44eb85ad07bb8"></a><a name="XBRL_FS_9480f71dd16a4c07ad44730f7"></a><a name="XBRL_TS_76956821067e46409a53b0188"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160; Net of
amortization accumulated until assets were reclassified as non-current assets
held for sale</font></font><a name="XBRL_TS_76956821067e46409a53b0188_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">.</font></font><a name="XBRL_FS_9480f71dd16a4c07ad44730f7_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><a name="XBRL_FS_0b4c6ebf984d4ed7b03e26c1b"></a><a name="XBRL_TS_aa698e9f7ea5482288b5d12f0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(**) The variation corresponds
mainly to the BBVA&#8217;s stake in BBVA Chile and the agreement with Cerberus to
transfer the &quot;Real Estate&quot; business in Spain (see Note 3)</font></font><a name="XBRL_TS_aa698e9f7ea5482288b5d12f0_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">.</font></font><a name="XBRL_FS_0b4c6ebf984d4ed7b03e26c1b_bclEnd"></a><a name="XBRL_TS_7b26a1f9560c44eb85ad07bb8_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-187</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_470"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:16.5pt;">
  <td colspan=7 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-current assets and disposal groups classified as held for sale
  Changes in the year 2017 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=34% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Foreclosed Assets</font></b></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">From Own Use Assets </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(*)</font></b></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other assets</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Foreclosed Assets through Auction Proceeding</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Recovered Assets from Finance Leases</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Cost&#160; (1)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,057</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">168</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,065</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,330</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Additions </font></font></p>
  </td>
 <td width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">791</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">45</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">837</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=34% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=34% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Retirements (sales
  and other decreases)</font></font></p>
  </td>
 <td width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,037)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(49)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(131)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,217)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfers, other
  movements and exchange differences</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,236</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(564)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18,583</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20,251</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,047</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">160</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">371</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18,623</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25,201</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.75pt;">
  <td valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Impairment&#160; (2)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,237</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">443</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,727</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=34% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Additions </font></font></p>
  </td>
 <td width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">143</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">158</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Retirements (sales
  and other decreases)</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(272)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(42)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(321)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other movements and
  exchange differences</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(208)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(216)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,102</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">194</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,348</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">Balance at the end of
  Net carrying value (1)-(2)</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,945</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">108</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">177</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18,623</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,853</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_305f3cef6b55480484daf44fc"></a><a name="XBRL_TS_0a763c412af249dc92f02e213"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160; Net of
amortization accumulated until assets were reclassified as non-current assets
held for sale</font></font><a name="XBRL_TS_0a763c412af249dc92f02e213_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_4a9f1bd1ba104e8e933997f17"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(**) The variation corresponds
mainly to the BBVA&#8217;s stake in BBVA Chile and the agreement with Cerberus to
transfer the &quot;Real Estate&quot; business in Spain (see Note 3)</font></font><a name="XBRL_TS_4a9f1bd1ba104e8e933997f17_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">.</font></font><a name="XBRL_TS_305f3cef6b55480484daf44fc_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:16.5pt;">
  <td colspan=7 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-current assets
  and disposal groups classified as held for sale Changes in the year 2016
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Foreclosed Assets</font></b></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">From Own Use Assets </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(*)</font></b></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other assets</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(**)</font></b></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Foreclosed Assets through Auction Proceeding</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Recovered Assets from Finance Leases</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Cost&#160; (1)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,775</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">216</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">626</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,654</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Additions </font></font></p>
  </td>
 <td width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">582</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">57</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">662</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=34% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Retirements (sales
  and other decreases)</font></font></p>
  </td>
 <td width=11% style="height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(779)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(77)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(170)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,023)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Transfers, other
  movements and exchange differences</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">480</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(28)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">586</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,037</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,057</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">168</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,065</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,330</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Impairment&#160; (2)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">994</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">240</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,285</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=34% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Additions </font></font></p>
  </td>
 <td width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">129</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">136</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Retirements (sales
  and other decreases)</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(153)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(33)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(192)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other movements and
  exchange differences</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">268</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">232</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">499</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,237</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">443</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,727</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">Balance at the end of
  Net carrying value (1)-(2)</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,820</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">121</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">621</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,603</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_TS_f6bb2e72ba1c452da175ee3ff"></a><a name="XBRL_TS_efa738b3aff8441b8cfd0e90a"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*) &#160;&#160;Net of
amortization accumulated until assets were reclassified as non-current assets
held for sale</font></font><a name="XBRL_TS_efa738b3aff8441b8cfd0e90a_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">.</font></font><a name="XBRL_TS_f6bb2e72ba1c452da175ee3ff_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_15251de24d7348ba8a06ffc35"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As
indicated in Note 2.2.4, &#8220;Non-current assets and disposal groups held for sale&#8221;
and &#8220;liabilities included in disposal groups classified as held for sale&#8221; are
valued at the lower amount between its fair value less costs to sell and its
book value. As of December 31, 2018, practically all of the carrying amount of
the assets recorded at fair value on a non-recurring basis coincides with their
fair value.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-188</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_471"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;"><font color=#006EC1 face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Assets from
foreclosures or recoveries</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and 2016, assets from foreclosures
and recoveries, net of impairment losses, by nature of the asset, amounted to &#8364;<a name="XBRL_CS_c036094711414bc9b98d1dffe"></a>1,072<a name="XBRL_CS_c036094711414bc9b98d1dffe_bclEnd"></a>, &#8364;<a name="XBRL_CS_47f946aee9134e528c7184496"></a>1,924<a name="XBRL_CS_47f946aee9134e528c7184496_bclEnd"></a> and &#8364;<a name="XBRL_CS_6e24de28f69c4f86bb77a72b8"></a>2,326<a name="XBRL_CS_6e24de28f69c4f86bb77a72b8_bclEnd"></a> million in assets for
residential use; &#8364;<a name="XBRL_CS_f5b6990fa38d4256ba5b10c12"></a>182<a name="XBRL_CS_f5b6990fa38d4256ba5b10c12_bclEnd"></a>, &#8364;<a name="XBRL_CS_5cc6fdcca143491c8f14d3fa3"></a>491<a name="XBRL_CS_5cc6fdcca143491c8f14d3fa3_bclEnd"></a> and &#8364;<a name="XBRL_CS_5a12316f2ec04e8ea67bee115"></a>574<a name="XBRL_CS_5a12316f2ec04e8ea67bee115_bclEnd"></a> million in assets for
tertiary use (industrial, commercial or office) and &#8364;<a name="XBRL_CS_577c87f61e574257b5f03ff6d"></a>19<a name="XBRL_CS_577c87f61e574257b5f03ff6d_bclEnd"></a>, &#8364;<a name="XBRL_CS_b2dfc218e15c42f8ab79dcf92"></a>29<a name="XBRL_CS_b2dfc218e15c42f8ab79dcf92_bclEnd"></a> and &#8364;<a name="XBRL_CS_3d495a8df2b44046adf207a06"></a>41<a name="XBRL_CS_3d495a8df2b44046adf207a06_bclEnd"></a> million in assets for
agricultural use, respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In December 31, 2018, 2017 and 2016, <a name="XBRL_CS_606beb1fc5c04cd9ab8131e67"></a><a name="XBRL_CS_3898816b5ce1490480084521b"></a><a name="XBRL_CS_10fb31c3d97a46e0ac5d49f6c"></a>the average sale time of assets from
foreclosures or recoveries was between 2 and 3 years.</font></font><a name="XBRL_CS_10fb31c3d97a46e0ac5d49f6c_bclEnd"></a><a name="XBRL_CS_3898816b5ce1490480084521b_bclEnd"></a><a name="XBRL_CS_606beb1fc5c04cd9ab8131e67_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">During the years 2018, 2017 and 2016, some of the sale
transactions for these assets were financed by Group companies. The amount of
loans to buyers of these assets in those years amounted to &#8364;<a name="XBRL_CS_cece6978396c4bb4b8d677a63"></a>82<a name="XBRL_CS_cece6978396c4bb4b8d677a63_bclEnd"></a>, &#8364;<a name="XBRL_CS_9a023779d90c46798736fec47"></a>207<a name="XBRL_CS_9a023779d90c46798736fec47_bclEnd"></a> and &#8364;<a name="XBRL_CS_d593a7acba9846d59d94edd7f"></a>219<a name="XBRL_CS_d593a7acba9846d59d94edd7f_bclEnd"></a> million, respectively;
with an average financing of 50% of the sales price.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and 2016, the amount of the profits
arising from the sale of Group companies financed assets - and therefore not
recognized in the consolidated income statement - amounted to &#8364;<a name="XBRL_CS_66b64fecc5df401daa4010e87"></a><a name="XBRL_CS_84c155ff037d4286a33aaa580"></a><a name="XBRL_CS_30a78ecdef3a4b2fad9ee032b"></a>1<a name="XBRL_CS_30a78ecdef3a4b2fad9ee032b_bclEnd"></a><a name="XBRL_CS_66b64fecc5df401daa4010e87_bclEnd"></a><a name="XBRL_CS_84c155ff037d4286a33aaa580_bclEnd"></a> in each financial year.</font></font><a name="XBRL_TS_15251de24d7348ba8a06ffc35_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc376949970"></a><a name="_Toc347755859"></a><a name="_Toc331260321"></a><a name="_Toc299032880"></a><a name="_Toc299031541"></a><a name="_Toc299029459"></a><a name="_Toc298431723"></a><a name="XBRL_TS_b6a1bbd3c1d34949846e06043"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">22. </font></b></font><a name="_Toc495478136"></a><a name="_Toc481589084"></a><a name="_Toc474142276"></a><a name="_Toc457490029"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">&#160;&#160;Financial
liabilities at amortized cost</font></b></font><a name="XBRL_TS_b6a1bbd3c1d34949846e06043_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_6e508e8dc992420a92b375010"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">22.1&#160; Breakdown of the balance</font></b></font><a name="XBRL_TS_6e508e8dc992420a92b375010_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_d5eab9cbd18747c0a890e1ba2"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
these headings in the accompanying consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_d5eab9cbd18747c0a890e1ba2_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial liabilities
  measured at amortized cost (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">435,229</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">467,949</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">499,706</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits from
  Central Banks (*)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,281</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37,054</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,740</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits from
  Credit Institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,978</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54,516</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63,501</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">375,970</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">376,379</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">401,465</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt certificates</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">61,112</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63,915</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">76,375</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,844</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,850</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,129</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">509,185</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">543,713</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">589,210</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><a name="XBRL_FS_7e3c711ecd6c4a4c8017c119c"></a><a name="XBRL_TS_64d5bde1d9904001a9ad924c3"></a><a name="XBRL_TS_0e0bf2aec41944b0b4569b8ac"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; As of December 31, 2018,
balance relating to repurchase agreements in Central Banks is &#8364;375 million (see
Note 35).</font></font><a name="XBRL_FS_7e3c711ecd6c4a4c8017c119c_bclEnd"></a><a name="XBRL_TS_0e0bf2aec41944b0b4569b8ac_bclEnd"></a><a name="XBRL_TS_64d5bde1d9904001a9ad924c3_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_02b35c1e1f624f4894b48def4"></a><a name="_Toc474142277"></a><a name="_Toc376972370"></a><a name="_Toc376949962"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">22.2&#160; Deposits from credit institutions</font></b></font><a name="XBRL_TS_02b35c1e1f624f4894b48def4_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_dfbe6dcb502f4966a2cb13bf3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
this heading in the consolidated balance sheets, according to the nature of the
financial instruments, is as follows:</font></font><a name="XBRL_TS_dfbe6dcb502f4966a2cb13bf3_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits from credit
  institutions (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Term deposits</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,015</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,941</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30,429</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand deposits</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,370</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,731</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,651</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Repurchase agreements</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,593</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,843</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,420</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,978</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54,516</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63,501</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_ca0619c9145f499c8cf30e3be"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown by geographical area and the nature of the related instruments of
this heading in the accompanying consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_ca0619c9145f499c8cf30e3be_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits from Credit
  Institutions. December 2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand Deposits &amp; Reciprocal Accounts</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Term Deposits</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Repurchase Agreements</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,981</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,527</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,563</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">The United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,701</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,677</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,379</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">280</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">286</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">566</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">651</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">669</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,323</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">442</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,892</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,335</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of Europe</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,108</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,903</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,534</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,545</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of the world</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">207</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,061</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,268</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,370</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,015</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,593</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,978</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-189</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_472"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits from Credit
  Institutions. December 2017 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand Deposits &amp; Reciprocal Accounts</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Term Deposits</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Repurchase Agreements</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">762</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,879</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">878</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,518</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">The United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,563</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,398</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,961</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">282</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">330</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,817</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,429</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">73</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">836</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">953</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">448</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,538</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,999</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of Europe</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">526</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,592</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,732</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,849</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of the world</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">77</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,369</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">360</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,806</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,731</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,941</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,843</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54,516</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits from Credit
  Institutions. December 2016 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand Deposits &amp; Reciprocal Accounts</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Term Deposits</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Repurchase Agreements</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">956</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,995</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">817</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,768</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">The United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,812</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,225</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,040</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">306</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">426</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,931</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,663</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">317</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,140</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,463</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">275</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,294</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">465</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,035</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of Europe</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">896</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,751</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,691</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38,338</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of the world</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">88</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,597</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">509</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,194</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,651</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30,429</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,420</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63,501</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_4daf81b68da044a88ff4df650"></a><a name="_Toc474142278"></a><a name="_Toc376972371"></a><a name="_Toc376949963"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">22.3&#160; Customer deposits</font></b></font><a name="XBRL_TS_4daf81b68da044a88ff4df650_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_22c00c9fa0d24c578c53f8d82"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of this heading in
the accompanying consolidated balance sheets, by type of financial instrument,
is as follows:</font></font><a name="XBRL_TS_22c00c9fa0d24c578c53f8d82_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Customer deposits
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General Governments </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,459</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,210</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,396</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Current accounts</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">238,907</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">223,497</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">212,604</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Time deposits</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">105,257</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">116,538</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">153,388</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Repurchase agreements</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,207</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,076</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,514</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subordinated deposits</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">220</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">194</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">233</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other accounts</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,920</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,864</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">330</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">375,970</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">376,379</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">401,465</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&#160; In Euros</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">184,934</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">184,150</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">189,438</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&#160; In foreign
  currency</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">191,036</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">192,229</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">212,027</font></i></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-190</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_473"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_b72694cb71a44b27ba86f0c92"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown by geographical area of this heading in the accompanying consolidated
balance sheets, by type of instrument is as follows:</font></font><a name="XBRL_TS_b72694cb71a44b27ba86f0c92_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Customer Deposits.
  December 2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand Deposits</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Term Deposits</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Repurchase Agreements</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">138,236</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,165</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">166,403</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">The United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">41,222</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,317</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62,539</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38,383</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,837</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">770</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">50,991</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,856</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,564</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33,427</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,811</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,159</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37,970</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of Europe</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,233</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,415</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">429</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,077</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of the world</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">831</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,731</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,563</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">260,573</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">114,188</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,209</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">375,970</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Customer Deposits.
  December 2017 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand Deposits</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Term Deposits</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Repurchase Agreements</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">123,382</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39,513</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,664</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">165,559</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">The United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,728</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,436</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58,164</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,492</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,622</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,272</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">52,387</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,427</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,237</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">152</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,815</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,710</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,053</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38,764</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of Europe</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,816</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,372</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,989</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,177</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of the world</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,028</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,484</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,511</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">240,583</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">126,716</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,079</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">376,379</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Customer Deposits.
  December 2016 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand Deposits</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Term Deposits</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Repurchase Agreements</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">102,730</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56,391</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,901</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">161,022</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">The United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,997</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,023</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">263</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">50,282</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,468</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,647</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,002</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54,117</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47,340</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,971</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62,311</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,862</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,328</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38,211</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of Europe</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,959</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,683</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,306</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30,949</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of the world</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,190</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,382</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,572</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">231,547</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">156,425</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,493</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">401,465</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_5f7f4b963e76496cba609dfca"></a><a name="_Toc474142279"></a><a name="_Toc376972372"></a><a name="_Toc376949964"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-191</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_474"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">22.4&#160; Debt </font></b></font><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">certificates</font></b></font><a name="XBRL_TS_5f7f4b963e76496cba609dfca_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_ec66c43581e6443faf1b7c517"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
breakdown of the balance under this heading, by currency, is as follows:</font></font><a name="XBRL_TS_ec66c43581e6443faf1b7c517_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Debt certificates
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">In Euros</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">37,436</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">38,735</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">45,619</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Promissory bills and
  notes</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">267</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,309</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">875</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non-convertible bonds
  and debentures</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,638</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,418</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,766</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Covered bonds (*)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,809</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,425</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,845</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Hybrid financial
  instruments</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">814</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">807</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">468</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Securitization bonds</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,630</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,295</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,693</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Wholesale funding</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">142</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subordinated
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,136</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,481</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,972</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Convertible</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,490</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,500</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,070</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Convertible
  perpetual securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,490</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,500</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,070</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Convertible
  subordinated debt</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-convertible</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,647</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,981</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,902</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Preferred Stock</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">107</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">107</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">359</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other subordinated
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,540</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,875</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,543</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">In Foreign Currencies</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">23,676</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">25,180</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">30,759</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Promissory bills and
  notes</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,237</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,157</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">382</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non-convertible bonds
  and debentures</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,335</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,109</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,134</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Covered bonds (*)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">569</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">650</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">149</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Hybrid financial
  instruments</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,455</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,809</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,059</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Securitization bonds</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,019</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Wholesale funding</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">544</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subordinated
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,499</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,407</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,016</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Convertible</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">873</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,085</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,548</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Convertible
  perpetual securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">873</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,085</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,548</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Convertible
  subordinated debt</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-convertible</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,626</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,323</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,467</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Preferred Stock</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">74</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">620</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other subordinated
  liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,552</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,268</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,846</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&#160; Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">61,112</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63,915</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">76,375</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><a name="XBRL_FS_1573192d4c084372a746f0d37"></a><a name="XBRL_TS_06fe067d2dfc4bc9952c10351"></a><a name="XBRL_TS_a20915c7ffec401a8511b25a4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*) &#160;Including mortgage-covered
bonds (see Appendix III).</font></font><a name="XBRL_FS_1573192d4c084372a746f0d37_bclEnd"></a><a name="XBRL_TS_06fe067d2dfc4bc9952c10351_bclEnd"></a><a name="XBRL_TS_a20915c7ffec401a8511b25a4_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_6fdb38ad7b03486fa7f29cdbc"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, 67% of &#8220;Debt certificates&#8221; have fixed-interest rates and 33%
have variable interest rates.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Most of the foreign currency issues are denominated in U.S.
dollars.</font></font><a name="XBRL_TS_6fdb38ad7b03486fa7f29cdbc_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-36.0pt;"><a name="XBRL_TS_96491284eaca4f7e8b3f7908f"></a><a name="_Toc106040"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">22.4.1 Subordinated liabilities</font></b></font><a name="XBRL_TS_96491284eaca4f7e8b3f7908f_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_c5c5b662c85e448790e233a6f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
issuances of BBVA International Preferred, S.A.U., BBVA Global Finance, Ltd.,
Caixa Terrassa Societat de Participacions Preferents, S.A.U. and CaixaSabadell
Preferents, S.A.U., are jointly, severally and irrevocably guaranteed by the
Bank. The balance variances are mainly due to the following transactions:</font></font><a name="XBRL_TS_c5c5b662c85e448790e233a6f_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;"><a name="XBRL_TS_716362d14b924ea6a1b84a6ac"></a><font color=#006EC1 face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Convertible
perpetual liabilities</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On September 24, 2018, BBVA carried out the seventh issuance of
perpetual contingent convertible securities (additional tier 1 instrument),
with exclusion of pre-emptive subscription rights of shareholders, for a total
nominal amount of &#8364;1,000 million. This issuance is listed in the AIAF Fixed
Income Securities Market and in any case the issuance shall be offered or sold
to any retail clients. The issuance qualifies as additional tier 1 capital of
the Bank and the Group in accordance with Regulation EU 575/2013. </font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-192</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_475"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The additional five issuances of
perpetual contingent convertible securities (additional tier 1 instruments)
with exclusion of pre-emptive subscription rights of shareholders were carried
out in February 2014 and February 2015 for an amount of &#8364;1.5 billion each one;
in April 2016 for an amount of &#8364;1 billion; in May 2017 for an amount of &#8364;500
million and in November 2017 for an amount of USD1 billion. These issuances
were targeted only at qualified investors and foreign private banking clients
not being offered to, and not being subscribed for, in Spain or by Spanish
residents. The first issuance is listed in the Singapore Exchange Securities
Trading Limited and the other issuances are listed in the Global Exchange
Market of the Irish Stock Exchange. Furthermore, these issuances qualify as
additional tier 1 capital of the Bank and the Group in accordance with
Regulation UE 575/2013.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These perpetual securities will be converted into newly issued
ordinary shares of BBVA if the CET 1 ratio of the Bank or the Group is less
than 5.125%, in accordance with their respective terms and conditions.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These issues may be fully redeemed at BBVA&#180;s option only in the
cases contemplated in their respective terms and conditions, and in any case,
in accordance with the provisions of the applicable legislation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In particular, on May 9, 2018, the Bank early redeemed the
issuance of preferred securities contingently convertible (additional tier 1
instrument) carried out by the Bank on May 9, 2013, for an amount of USD1.5
billion on the First Reset Date of the issuance and once the prior consent from
the Regulator was obtained. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Additionally, on January 15, 2019, the Bank has notified its
irrevocable decision to early redeem next February 19, 2019 the issuance of
preferred securities contingently convertible (additional tier 1 instrument),
carried out by the Bank on February 19, 2014, for a total amount of &#8364;1,5
billion and once the prior consent from the Regulator has been obtained.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;"><font color=#006EC1 face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Preferred securities</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown by issuer of the balance under this heading in the
accompanying consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_716362d14b924ea6a1b84a6ac_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Preferred Securities
  by Issuer (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=67% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBVA International
  Preferred, S.A.U. </font></font><sup><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">(1)</font></font></sup></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">855</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=67% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unnim Group </font></font><sup><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">(2)</font></font></sup></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">98</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">98</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Compass Group</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Colombia, S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Others</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">181</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">163</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">979</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><a name="XBRL_TS_084a32dc01da4e66927caa488"></a><a name="XBRL_FS_7f63b4bea2404c2dbbd9d22cc"></a><a name="XBRL_TS_218179523618426eb368d6bfa"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1) &#160;Listed on the London and New
York stock exchanges.</font></font><a name="XBRL_FS_7f63b4bea2404c2dbbd9d22cc_bclEnd"></a><a name="XBRL_TS_218179523618426eb368d6bfa_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><a name="XBRL_FS_3b94380482d642759d19ee10f"></a><a name="XBRL_TS_e42a30850f294110aafcad75e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(2) &#160;Unnim Group: Issuances prior
to the acquisition by BBVA.</font></font><a name="XBRL_FS_3b94380482d642759d19ee10f_bclEnd"></a><a name="XBRL_TS_084a32dc01da4e66927caa488_bclEnd"></a><a name="XBRL_TS_e42a30850f294110aafcad75e_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_5b082bb4414343bcb7b028d24"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These
issues were fully subscribed at the moment of the issue by
qualified/institutional investors outside the Group and are redeemable at the
issuer company&#8217;s option after five years from the issue date, depending on the
terms of each issue and with prior consent from the Bank of Spain.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;"><font color=#006EC1 face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Redemption of preferred securities</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On March 20, 2017 BBVA International Preferred, S.A.U. carried out
the early redemption in full of its Series B preferred securities for an
outstanding amount of &#8364;164,350,000.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Likewise, on March 22, 2017 BBVA International Preferred, S.A.U.
carried out the early redemption in full of its Series A preferred securities
for an outstanding amount of &#8364;85,550,000.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Finally, on April 18, 2017 BBVA International Preferred, S.A.U.
carried out the early redemption in full of its Series C preferred securities
for an outstanding amount of USD 600,000,000.</font></font><a name="XBRL_TS_5b082bb4414343bcb7b028d24_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_3e5c2069906545c9953ee0a11"></a><a name="_Toc474142280"></a><a name="_Toc376972376"></a><a name="_Toc376949968"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-193</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_476"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">22.5&#160;&#160; Other financial
liabilities</font></b></font><a name="XBRL_TS_3e5c2069906545c9953ee0a11_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_b53350d283c240a3872803827"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown
of the balance under this heading in the accompanying consolidated balance
sheets is as follows:</font></font><a name="XBRL_TS_b53350d283c240a3872803827_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other financial
  liabilities (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Creditors for other
  financial liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,891</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,835</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,465</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Collection accounts</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,305</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,452</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,768</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Creditors for other
  payables</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,648</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,563</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,370</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Dividend payable but
  pending payment</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">525</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,844</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,850</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,129</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_ff59a8b841554885b546a3fbc"></a><a name="_Toc495478137"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">23.&#160;
Assets and liabilities under insurance and reinsurance contracts</font></b></font><a name="XBRL_TS_ff59a8b841554885b546a3fbc_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_319f0b50919b493589c1b63f9"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group
has insurance subsidiaries mainly in Spain and Latin America (mostly in
Mexico). The main product offered by the insurance subsidiaries is life
insurance to cover the risk of death (risk insurance) and life-savings
insurance. Within life and accident insurance, a distinction is made between
freely sold products and those offered to customers who have taken mortgage or
consumer loans, which cover the principal of those loans in the event of the
customer&#8217;s death.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">There are two types of savings products: individual insurance,
which seeks to provide the customer with savings for retirement or other
events, and group insurance, which is taken out by employers to cover their
commitments to their employees.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_786126788e5b44bcb179b6440"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
insurance business is affected by different risks, including those that are related
to the BBVA Group such as credit risk, market risk, liquidity risk and
operational risk and the methodology for risk measurement applied in the
insurance activity is similar (see Note 7), although it has a differentiated
management due to the particular characteristics of the insurance business,
such as the coverage of contracted obligations and the long term of the
commitments. Additionally, the insurance business generates certain specific
risks, of a probabilistic nature: </font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:4.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Technical risk: arises from deviations in the estimation of the
casualty rate of insurances, either in terms of numbers, the amount of such
claims and the timing of its occurrence.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:4.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Biometric risk: depending on the deviations in the expected
mortality behavior or the survival of the insured persons.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The insurance industry is highly regulated in each country. In
this regard, it should be noted that the insurance industry is undergoing a
gradual regulatory transformation through new risk-based capital regulations,
which have already been published in several countries.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The most significant provisions recognized by consolidated
insurance subsidiaries with respect to insurance policies issued by them are
under the heading &#8220;Liabilities under insurance and reinsurance contracts&#8221; in
the accompanying consolidated balance sheets.</font></font><a name="XBRL_TS_786126788e5b44bcb179b6440_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-194</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_477"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
this heading is as follows:</font></font><a name="XBRL_TS_319f0b50919b493589c1b63f9_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Technical Reserves by
  type of insurance product (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.75pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mathematical reserves</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,504</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,961</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,813</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=67% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Individual life
  insurance&#160; </font></font><sup><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:9.0pt;">(1)</font></font></sup></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,201</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,359</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,791</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Savings</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,180</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,391</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,943</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Risk</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,021</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">967</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">848</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Others </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=67% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Group insurance </font></font><sup><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:9.0pt;">(2)</font></font></sup></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,303</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,601</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,022</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Savings</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,210</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,455</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,801</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Risk</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">93</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">147</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">221</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Others </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Provision for unpaid
  claims reported</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">662</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">631</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">691</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Provisions for unexpired
  risks and other provisions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">668</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">631</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">635</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,834</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,223</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,139</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_TS_eebbeefad37b46f9a6bf0319b"></a><a name="XBRL_FS_6b5c98398fd245c198ac14b77"></a><a name="XBRL_TS_af616c57accd450ba20fdce2b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; Provides coverage in the event
of death or disability.</font></font><a name="XBRL_FS_6b5c98398fd245c198ac14b77_bclEnd"></a><a name="XBRL_TS_af616c57accd450ba20fdce2b_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_FS_abc9cf77e738421581f18e632"></a><a name="XBRL_TS_7dac7b3f6f6f4f4bbb0e69282"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(2)&#160; The insurance
policies purchased by employers (other than BBVA Group) on behalf of its
employees</font></font><a name="XBRL_TS_7dac7b3f6f6f4f4bbb0e69282_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">.</font></font><a name="XBRL_FS_abc9cf77e738421581f18e632_bclEnd"></a><a name="XBRL_TS_eebbeefad37b46f9a6bf0319b_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_31628e03a5bb466894cfe90d0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The cash
flows of those Liabilities under insurance and reinsurance contracts are shown
below:</font></font><a name="XBRL_TS_31628e03a5bb466894cfe90d0_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:31.5pt;">
  <td colspan=6 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Maturity (Millions of
  euros)</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Liabilities under
  Insurance and Reinsurance Contracts</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Up to 1 Year</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 3 Years</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 5 Years</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 5 Years</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,686</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,041</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,822</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,285</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,834</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,560</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,119</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,502</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,042</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,223</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,705</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,214</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,482</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,738</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,139</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_9be6f6302bcd4bb5899cad371"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The modeling methods and techniques
used to calculate the mathematical reserves for the insurance products are
actuarial and financial methods and modeling techniques approved by the respective
country&#8217;s insurance regulator or supervisor. The most important insurance
entities are located in Spain and Mexico (which together account for
approximately 85% of the insurance revenues), where the modeling methods and
techniques are reviewed by the insurance regulator in Spain (General
Directorate of Insurance) and Mexico (National Insurance and Bonding
Commission), respectively. The modeling methods and techniques used to
calculate the mathematical reserves for the insurance products are compliant
with IFRS and primarily involve the valuation of the estimated future cash
flows, discounted at the technical interest rate for each policy. To ensure
this technical interest rate, asset-liability management is carried out,
acquiring a portfolio of securities that generate the cash flows needed to
cover the payment commitments assumed with the customers.</font></font><a name="XBRL_TS_9be6f6302bcd4bb5899cad371_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_bf27e560d9224097a81686fe9"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-195</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_478"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The table below shows the key assumptions as of December 31, 2018,
used in the calculation of the mathematical reserves for insurance products in
Spain and Mexico, respectively:</font></font><a name="XBRL_TS_bf27e560d9224097a81686fe9_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mathematical Reserves</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=22% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=40% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mortality table</font></b></font></p>
  </td>
 <td colspan=2 width=38% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average technical interest type</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=22% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 </tr>
<tr style="height:67.5pt;">
  <td width=22% style="border:none;height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Individual life
  insurance <sup>(1)</sup></font></font></p>
  </td>
 <td width=20% style="border:none;height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">GRMF 80-2</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">GKM 80 / GKMF 95</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">PERMF 2000</font></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">PASEM</font></font></p>
  </td>
 <td width=20% style="border:none;height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Tables of the Comisi&#243;n Nacional de Seguros y Fianzas 2000-individual</font></font></p>
  </td>
 <td width=19% style="border:none;height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.26%-3.27%</font></font></p>
  </td>
 <td width=19% style="border:none;height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2.50%</font></font></p>
  </td>
 </tr>
<tr style="height:67.5pt;">
  <td width=22% style="height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Group insurance<sup>(2)</sup></font></font></p>
  </td>
 <td width=20% style="height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">PERMF 2000</font></font></p>
  </td>
 <td width=20% style="height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Tables of the Comisi&#243;n Nacional de Seguros y Fianzas 2000-grupo</font></font></p>
  </td>
 <td width=19% style="height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Depending on the related portfolio </font></font></p>
  </td>
 <td width=19% style="height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5.50%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_TS_f7e1d9776f7b48c4b35bfdc17"></a><a name="XBRL_TS_63e34c678e714a03b249914e0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; Provides coverage in the case
of one or more of the following events: death and disability.</font></font><a name="XBRL_TS_63e34c678e714a03b249914e0_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_TS_8770df90ff444d9ba0b9e004d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(2)&#160; Insurance policies purchased
by companies (other than Group BBVA entities) on behalf of their employees.</font></font><a name="XBRL_TS_8770df90ff444d9ba0b9e004d_bclEnd"></a><a name="XBRL_TS_f7e1d9776f7b48c4b35bfdc17_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_81759e44f5b64d7eb1a505437"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The heading &#8220;Assets under
reinsurance and insurance contracts&#8221; in the accompanying consolidated balance
sheets includes the amounts that the consolidated insurance entities are
entitled to receive under the reinsurance contracts entered into by them with
third parties and, more specifically, the share of the reinsurer in the
technical provisions recognized by the consolidated insurance subsidiaries. </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018,
2017 and 2016, the balance under this heading amounted to &#8364;366 million, &#8364;421
million and &#8364;447 million, respectively.</font></font><a name="XBRL_TS_81759e44f5b64d7eb1a505437_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc376949977"></a><a name="_Toc347755861"></a><a name="_Toc331260323"></a><a name="_Toc299032882"></a><a name="_Toc299031543"></a><a name="_Toc299029461"></a><a name="_Toc298431725"></a><a name="XBRL_TS_4f48c6f6e4b44beda53619abe"></a><a name="_Toc106043"></a><a name="_Toc495478138"></a><a name="_Toc481589086"></a><a name="_Toc474142282"></a><a name="_Toc457490031"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">24.&#160;&#160; Provisions</font></b></font><a name="XBRL_TS_4f48c6f6e4b44beda53619abe_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_37aa98d618f34331ab8cab8ff"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under this heading in the accompanying consolidated
balance sheets, based on type of provisions, is as follows:</font></font><a name="XBRL_TS_37aa98d618f34331ab8cab8ff_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Provisions. Breakdown
  by concepts (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Provisions for
  pensions and similar obligations</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,787</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,407</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,025</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other long term
  employee benefits</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Provisions for taxes
  and other legal contingencies</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">686</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">756</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">418</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Provisions for
  contingent risks and commitments</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">636</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">578</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">950</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other provisions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">601</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">669</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,609</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,772</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,477</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,071</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_3e7e8c29bf8c4302b5dd8426e"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-196</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_479"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The change in provisions for pensions and similar obligations for
the years ended December 31, 2018, 2017 and 2016 is as follows:</font></font><a name="XBRL_TS_3e7e8c29bf8c4302b5dd8426e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Provisions for
  pensions and similar obligations. Changes Over the Year (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,407</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,025</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,299</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Add</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Charges to income
  for the year </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">126</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">391</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">402</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Interest expenses
  and similar charges</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">71</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">96</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Personnel expenses</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44.1</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Provision expenses</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">258</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">239</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Charges to equity </font></font><sup><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:9.0pt;">(1)</font></font></sup></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">41</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">140</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">339</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Transfers and other
  changes</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">95</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(264)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Less</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Benefit payments</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(779)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(861)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(926)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Employer
  contributions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(103)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(154)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,787</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,407</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,025</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;text-indent:-14.2pt;"><a name="XBRL_FS_e6598d543cc04d9bb4bb5db22"></a><a name="XBRL_TS_590ea88d21994849a0dcea68c"></a><a name="XBRL_TS_bfaf99a4b214430f9778ed814"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; Correspond to actuarial losses
(gains) arising from certain defined-benefit post-employment pension
commitments and other similar benefits recognized in &#8220;Equity&#8221; (see Note 2.2.12).</font></font><a name="XBRL_FS_e6598d543cc04d9bb4bb5db22_bclEnd"></a><a name="XBRL_TS_590ea88d21994849a0dcea68c_bclEnd"></a><a name="XBRL_TS_bfaf99a4b214430f9778ed814_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;text-indent:-14.2pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Provisions for Taxes,
  Legal Contingents and Other Provisions. Changes Over the Year (Millions of
  euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at
  beginning </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,425</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,028</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,771</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">455</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">868</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,109</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Acquisition of
  subsidiaries</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Unused amounts
  reversed during the period</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(184)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(164)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(311)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Amount used and other
  variations</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(410)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,306)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(540)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  end </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,286</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,425</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,028</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_a5cafb8d8cad453ea21906d78"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Ongoing legal proceedings and litigation</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_CS_cb68956214e246dea628e19dd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The financial sector faces an
environment of increasing regulatory and litigious pressure. In this
environment, the different Group&#8217;s entities are often parties to individual or
collective legal proceedings arising from the ordinary activity of their
businesses. In accordance with the procedural status of these proceedings and
according to the criteria of the attorneys who manage them, BBVA considers that
none of them is material, individually or in aggregate, and that no significant
impact will derive from them neither in the results of operations nor on
liquidity, nor in the financial position at a consolidated level of the Group,
as at the level of the individual Bank. The Group Management considers that the
provisions made in connection with these legal proceedings are adequate.</font></font><a name="XBRL_CS_cb68956214e246dea628e19dd_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As mentioned in Note 7.2 Risk
factors, the Group is subject or may be subject in the future to a series of
legal and regulatory investigations, procedures and actions which, in case of a
negative result, could have an adverse impact on the Group</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font><a name="XBRL_TS_a5cafb8d8cad453ea21906d78_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-197</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_480"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_4e4775f0e4e54261aca6dc767"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">25.&#160; Post-employment and
other employee benefit commitments</font></b></font><a name="XBRL_TS_4e4775f0e4e54261aca6dc767_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_043fad4483874bc7be25f3400"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As stated
in Note 2.2.12, the Group has assumed commitments with employees including
short-term employee benefits (see Note 44.1), defined contribution and defined
benefit plans (see Glossary), healthcare and other long-term employee benefits.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group sponsors defined-contribution plans for the majority of
its active employees with the plans in Spain and Mexico being the most
significant. Most defined benefit plans are closed to new employees with
liabilities relating largely to retired employees, the most significant being
those in Spain, Mexico, the United States and Turkey. In Mexico, the Group
provides medical benefits to a closed group of employees and their family
members, both active service and in retirees.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance
sheet net defined benefit liability as of December 31, 2018, 2017 and 2016 is
provided below:</font></font><a name="XBRL_TS_043fad4483874bc7be25f3400_bclEnd"></a></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Net Defined Benefit
  Liability (asset) on the Consolidated Balance Sheet (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=67% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Pension commitments</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,678</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,969</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,277</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Early retirement
  commitments</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,793</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,210</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,559</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Medical benefits
  commitments</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,114</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,204</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,015</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other long term
  employee benefits</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total
  commitments</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,647</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,451</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,920</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=67% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Pension plan assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,694</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,892</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,909</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Medical benefit plan
  assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,146</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,114</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,113</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total plan
  assets </font></b></font><sup><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:9.0pt;">(1)</font></b></font></sup></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,840</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,006</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,022</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total net
  liability / asset </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,807</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,445</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,898</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=67% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">Net asset on the
  consolidated balance sheet&#160; (2)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(41)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(27)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(194)</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">Net liability on
  the consolidated balance sheet&#160; for provisions for pensions and similar
  obligations (3)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,787</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,407</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,025</font></i></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=67% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">Net liability on
  the consolidated balance sheet&#160; for other long term employee benefits (4)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;text-indent:-14.2pt;"><a name="XBRL_TS_219f2a53d487494492b6dd46e"></a><a name="XBRL_FS_782c37c37899432f979667e05"></a><a name="XBRL_TS_3c2d27af4d29405691a8885c6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; In Turkey, the foundation
responsible for managing the benefit commitments holds an additional asset of </font></font><a name="XBRL_CS_58477750d5b1431dbf6c068c7"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">181</font></font><a name="XBRL_CS_58477750d5b1431dbf6c068c7_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#8364; million which, in
accordance with IFRS regarding the asset ceiling, has not been recognized in
the Consolidated Financial Statements, because although it could be used to
reduce future pension contributions it could not be immediately refunded to the
employer.</font></font><a name="XBRL_FS_782c37c37899432f979667e05_bclEnd"></a><a name="XBRL_TS_3c2d27af4d29405691a8885c6_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;text-indent:-14.2pt;"><a name="XBRL_FS_87b8d8e9347b43a6959305f6f"></a><a name="XBRL_TS_4108e649bbb94ddb885526f21"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(2)&#160; Recorded under the heading
&#8220;Other Assets - Other&#8221; of the consolidated balance sheet (see Note 20).</font></font><a name="XBRL_FS_87b8d8e9347b43a6959305f6f_bclEnd"></a><a name="XBRL_TS_4108e649bbb94ddb885526f21_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;text-indent:-14.2pt;"><a name="XBRL_FS_fcff82c06cfe49648be0f47ba"></a><a name="XBRL_TS_f0db90d5230c475c93cafafe1"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(3)&#160; Recorded under the heading &#8220;Provisions
- Provisions for pensions and similar obligations&#8221; of the consolidated balance
sheet (see Note 24).</font></font><a name="XBRL_FS_fcff82c06cfe49648be0f47ba_bclEnd"></a><a name="XBRL_TS_f0db90d5230c475c93cafafe1_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;text-indent:-14.2pt;"><a name="XBRL_FS_696826b32c684929b1a980579"></a><a name="XBRL_TS_ffd8ee98d078467c869b3877b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(4)&#160; Recorded under the heading
&#8220;Provisions &#8211; Other long-term employee benefits&#8221; of the consolidated balance
sheet.</font></font><a name="XBRL_FS_696826b32c684929b1a980579_bclEnd"></a><a name="XBRL_TS_219f2a53d487494492b6dd46e_bclEnd"></a><a name="XBRL_TS_ffd8ee98d078467c869b3877b_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_c74c2cc27bc54d469cdf0df05"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-198</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_481"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amounts relating to benefit
commitments charged to consolidated income statement for the years 2018, 2017
and 2016 are as follows:</font></font><a name="XBRL_TS_c74c2cc27bc54d469cdf0df05_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Consolidated Income
  Statement Impact (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest and
  similar expenses </font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">71</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">96</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest expense</font></font></p>
  </td>
 <td width=11% style="border:none;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">295</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">294</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">303</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest income</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(217)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(223)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(207)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Personnel
  expenses</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">147</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">149</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">154</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Defined contribution
  plan expense</font></font></p>
  </td>
 <td width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44.1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">89</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Defined benefit plan
  expense</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44.1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Provisions
  (net)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">125</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">343</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">332</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Early retirement
  expense</font></font></p>
  </td>
 <td width=11% style="border:none;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">141</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">227</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">236</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Past service cost
  expense</font></font></p>
  </td>
 <td width=11% style="height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(33)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Remeasurements </font></font><sup><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:9.0pt;">(*)</font></font></sup></p>
  </td>
 <td width=11% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other provision
  expenses</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">95</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total impact on
  Consolidated Income Statement: Debit (Credit)</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">350</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">563</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">582</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;text-indent:-14.2pt;"><a name="XBRL_FS_2abe2124cfbf446ab76692b1a"></a><a name="XBRL_TS_8b3ed62f8cc24071888f1f74e"></a><a name="XBRL_TS_1a80ead2ab6d4b70ba3180148"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160; Actuarial
losses (gains) on remeasurement of the net defined benefit liability relating
to early retirements in Spain and other long-term employee benefits that are
charged to the income statements (see Note 2.2.12).</font></font><a name="XBRL_FS_2abe2124cfbf446ab76692b1a_bclEnd"></a><a name="XBRL_TS_1a80ead2ab6d4b70ba3180148_bclEnd"></a><a name="XBRL_TS_8b3ed62f8cc24071888f1f74e_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;text-indent:-14.2pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_ac3ce42ff8134b1abb140ab07"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amounts
relating to post-employment benefits charged to the consolidated balance sheet
correspond to the actuarial gains (losses) on remeasurement of the net defined
benefit liability relating to pension and medical commitments before income
taxes. As of December 31, 2018, 2017 and 2016 are as follows:</font></font><a name="XBRL_TS_ac3ce42ff8134b1abb140ab07_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Equity Impact
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=57% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Defined benefit plans</font></font></p>
  </td>
 <td width=10% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">81</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(40)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">237</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Post-employment
  medical benefits</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(47)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">179</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">119</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total impact on
  equity: Debit (Credit)</font></b></font></p>
  </td>
 <td width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">140</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">356</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_16013fd7dbf0478db87a0cea2"></a></h2>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-199</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_482"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;">25.1&#160; Defined benefit plans</font></b></font><a name="XBRL_TS_16013fd7dbf0478db87a0cea2_bclEnd"></a></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_2ef3f2d1050b4553a353084a1"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Defined
benefit commitments relate mainly to employees who have already retired or
taken early retirement, certain closed groups of active employees still
accruing defined benefit pensions, and in-service death and disability benefits
provided to most active employees. For the latter, the Group pays the required
premiums to fully insure the related liability. The change in these pension
commitments during the years ended December 31, 2018, 2017 and 2016 is
presented below:</font></font><a name="XBRL_TS_2ef3f2d1050b4553a353084a1_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=10 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Defined Benefits
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=29% style="border:none;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=29% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Defined Benefit Obligation</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Plan Assets</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Net Liability (asset)</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Defined Benefit Obligation</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Plan Assets</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Net Liability (asset)</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Defined Benefit Obligation</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Plan Assets</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Net Liability (asset)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,384</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,006</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,378</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,851</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,022</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,829</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9,184</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,124</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,060</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Current service cost</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">61</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">61</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">64</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">64</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">67</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">67</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Interest income or
  expense</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">292</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">217</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">76</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">290</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">223</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">68</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">299</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">207</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">92</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Contributions by plan
  participants</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Employer
  contributions</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">103</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(103)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">25</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">154</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(154)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Past service costs <sup>(1)</sup></font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">109</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">109</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">231</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">231</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">235</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">235</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Remeasurements:</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(263)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(286)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">331</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">161</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">171</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">354</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">359</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160; Return on plan
  assets <sup>(2)</sup></font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(286)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">286</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">161</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(161)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">20</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">From changes in
  demographic assumptions</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">100</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">100</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">107</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">107</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">From changes in
  financial assumptions</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(274)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(274)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">220</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">220</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">106</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">106</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">Other actuarial
  gain and losses</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">141</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">125</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Benefit payments</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(979)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(200)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(779)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,029)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(169)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(861)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1,052)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(169)</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(883)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Settlement payments</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(43)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(43)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Business combinations
  and disposals</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Effect on changes in
  foreign exchange rates</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(31)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(22)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(278)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(258)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(19)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(282)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(293)</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Conversions to
  defined contributions</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(82)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(82)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other&#160; effects</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">84</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">84</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,585</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,840</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,745</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,384</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,006</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,378</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,851</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,022</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,829</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Of which</font></i></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Spain</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,807</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">260</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,547</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,442</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">320</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,122</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,157</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">358</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,799</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Mexico</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,615</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,587</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,661</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,602</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">60</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,456</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,627</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(171)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">The United
  States</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">326</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">287</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">39</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">360</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">309</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">51</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">385</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">339</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Turkey</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">422</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">339</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">83</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">520</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">424</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">96</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">447</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">348</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">99</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;text-indent:-14.2pt;"><a name="XBRL_TS_2d548197ca2f41d1bd738d820"></a><a name="XBRL_FS_c8d1387de2e64e3894ff6b15a"></a><a name="XBRL_TS_f8fc56d702364e42a40b13595"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; Including gains and losses
arising from settlements.</font></font><a name="XBRL_FS_c8d1387de2e64e3894ff6b15a_bclEnd"></a><a name="XBRL_TS_f8fc56d702364e42a40b13595_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;text-indent:-14.2pt;"><a name="XBRL_FS_14aa4751b9c945b7923d56188"></a><a name="XBRL_TS_15b0d830c1a846cf977eec55e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(2)&#160; Excluding interest, which is
recorded under &quot;Interest income or expense&quot;.</font></font><a name="XBRL_FS_14aa4751b9c945b7923d56188_bclEnd"></a><a name="XBRL_TS_15b0d830c1a846cf977eec55e_bclEnd"></a><a name="XBRL_TS_2d548197ca2f41d1bd738d820_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:21.3pt;text-indent:-21.3pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_c76c699537364226af0d23a57"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The balance
under the heading &#8220;Provisions - Pensions and other post-employment defined
benefit obligations&#8221; of the accompanying consolidated balance sheet as of
December 31, 2018 includes &#8364;</font></font><a name="XBRL_CS_118b945a9b5a453ba5b4304b1"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">332</font></font><a name="XBRL_CS_118b945a9b5a453ba5b4304b1_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> million relating to
post-employment benefit commitments to former members of the Board of Directors
and the Bank&#8217;s Management (see Note 54).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The most significant commitments are those in Spain and Mexico
and, to a lesser extent, in the United States and Turkey. The remaining
commitments are located mostly in Portugal and South America. Unless otherwise
required by local regulation, all defined benefit plans have been closed to new
entrants, who instead are able to participate in the Group&#180;s defined
contribution plans.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Both the costs and the present value of the commitments are
determined by independent qualified actuaries using the &#8220;projected unit credit&#8221;
method.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In order to guarantee the good governance of these plans, the
Group has established specific benefits committees. These benefit committees
include members from the different areas of the business to ensure that all
decisions are made taking into consideration all of the associated impacts.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The following table sets out the key actuarial assumptions used in
the valuation of these commitments as of December 31, 2018, 2017 and 2016:</font></font><a name="XBRL_TS_c76c699537364226af0d23a57_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:6.75pt;">
  <td colspan=13 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Actuarial Assumptions
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=11% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:34.5pt;">
  <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Spain</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USA</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Spain </font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USA</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Spain</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USA</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Turkey</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.75pt;">
  <td width=11% style="border:none;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Discount rate</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.28%</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10.45%</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4.23%</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16.30%</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.24%</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9.48%</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.57%</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11.60%</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.50%</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9.95%</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4.04%</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11.50%</font></font></p>
  </td>
 </tr>
<tr style="height:6.75pt;">
  <td width=11% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Rate of salary
  increase</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4.75%</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14.00%</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4.75%</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9.90%</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.50%</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4.75%</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.00%</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9.30%</font></font></p>
  </td>
 </tr>
<tr style="height:6.75pt;">
  <td width=11% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Rate of pension
  increase</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2.51%</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12.50%</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2.13%</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8.40%</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2.13%</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7.80%</font></font></p>
  </td>
 </tr>
<tr style="height:6.75pt;">
  <td width=11% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Medical cost trend
  rate</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7.00%</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16.70%</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7.00%</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12.60%</font></font></p>
  </td>
 <td nowrap width=8% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.75%</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:6.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10.92%</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=11% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Mortality tables</font></font></p>
  </td>
 <td width=8% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PERM/F 2000P</font></font></p>
  </td>
 <td width=8% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EMSSA09</font></font></p>
  </td>
 <td width=8% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">RP 2014</font></font></p>
  </td>
 <td width=8% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">CSO2001</font></font></p>
  </td>
 <td width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PERM/F 2000P</font></font></p>
  </td>
 <td width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EMSSA09</font></font></p>
  </td>
 <td width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">RP 2014</font></font></p>
  </td>
 <td width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">CSO2001</font></font></p>
  </td>
 <td width=8% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PERM/F 2000P</font></font></p>
  </td>
 <td width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EMSSA97 (adjustment EMSSA09)</font></font></p>
  </td>
 <td width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">RP 2014</font></font></p>
  </td>
 <td width=7% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">CSO2001</font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-200</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_483"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_ec07fc28cd7348d38f14b7e90"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In Spain,
the discount rate shown as of December, 31, 2018, corresponds to the weighted
average rate, the actual discount rates used are 0.50% and 1.75% depending on
the type of commitment.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Discount rates used to value future benefit cash flows have been
determined by reference to high quality corporate bonds (Note 2.2.12)
denominated in Euro in the case of Spain, Mexican peso for Mexico and USD for
the United States, and government bonds denominated in new Turkish Lira for
Turkey.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The expected return on plan assets has been set in line with the
adopted discount rate.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Assumed retirement ages have been set by reference to the earliest
age at which employees are entitled to retire, the contractually agreed age in
the case of early retirements in Spain or by using retirement rates.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Changes in the main actuarial assumptions may affect the valuation
of the commitments. The table below shows the sensitivity of the benefit
obligations to changes in the key assumptions:</font></font><a name="XBRL_TS_ec07fc28cd7348d38f14b7e90_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Sensitivity Analysis
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=34% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=13% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Basis points change</font></b></font></p>
  </td>
 <td colspan=2 width=26% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=2 width=27% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Increase</font></b></font></p>
  </td>
 <td width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Decrease</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Increase</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Decrease</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Discount rate</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">50</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(298)</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">332</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(352)</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">386</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Rate of salary
  increase</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">50</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=14% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Rate of pension
  increase</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">50</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(18)</font></font></p>
  </td>
 <td nowrap width=14% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(22)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Medical cost trend
  rate</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">100</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">229</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(181)</font></font></p>
  </td>
 <td nowrap width=14% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">290</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(225)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Change in obligation
  from each additional year of longevity</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">108</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">155</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_4202838aa1404020b6fca5138"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
sensitivities provided above have been determined at the date of these
consolidated financial statements, and reflect solely the impact of changing
one individual assumption at a time, keeping the rest of the assumptions
unchanged, thereby excluding the effects which may result from combined
assumption changes.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition to the commitments to employees shown above, the Group
has other less material long-term employee benefits. These include long-service
awards, which consist of either an established monetary award or some vacation
days granted to certain groups of employees when they complete a given number
of years of service. As of December 31, 2018, 2017 and 2016, the actuarial
liabilities for the outstanding awards amounted to &#8364;62 million, &#8364;67 million,
and &#8364;69 million, respectively. These commitments are recorded under the heading
&quot;Provisions - Other long-term employee benefits&quot; of the accompanying
consolidated balance sheet (see Note 24).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As described above, the Group maintains both pension and medical
post-employment benefit commitments with their employees.</font></font><a name="XBRL_TS_4202838aa1404020b6fca5138_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_1bf029a75f07434a874d2ba80"></a><a name="_Toc106046"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-201</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_484"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">25.1.1 Post-employment commitments and similar obligations</font></b></font><a name="XBRL_TS_1bf029a75f07434a874d2ba80_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_c1088908007243ce9837cf88e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These
commitments relate mostly to pensions in payment, and which have been
determined based on salary and years of service. For most plans, pension payments
are due on retirement, death and long term disability.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_274773578ff54c3c96294d73d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, during the year 2018, Group entities in Spain offered
certain employees the option to take retirement or early retirement (that is,
earlier than the age stipulated in the collective labor agreement in force).
This offer was accepted by </font></font><a name="XBRL_CS_c3a9dfc8da0e4eedae5bbf881"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">489</font></font><a name="XBRL_CS_c3a9dfc8da0e4eedae5bbf881_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> employees (<a name="XBRL_CS_ae37a87dea3246fc856ae9f6d"></a>731<a name="XBRL_CS_ae37a87dea3246fc856ae9f6d_bclEnd"></a> and <a name="XBRL_CS_0cdb1b0a6a274f38a595c04a1"></a>613<a name="XBRL_CS_0cdb1b0a6a274f38a595c04a1_bclEnd"></a> employees during years
2017 and 2016, respectively). These commitments include the compensation and
indemnities due as well as the contributions payable to external pension funds
during the early retirement period</font></font><a name="XBRL_CS_274773578ff54c3c96294d73d_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. As of December 31, 2018, 2017 and 2016, the value
of these commitments amounted to &#8364;<a name="XBRL_CS_c3915eef21c8446cad305ecc0"></a>1,793<a name="XBRL_CS_c3915eef21c8446cad305ecc0_bclEnd"></a> million, &#8364;<a name="XBRL_CS_ab983965ba2c4f82853012851"></a>2,210<a name="XBRL_CS_ab983965ba2c4f82853012851_bclEnd"></a> million and &#8364;<a name="XBRL_CS_56b6735a8ab44bfbb2ef43aec"></a>2,559<a name="XBRL_CS_56b6735a8ab44bfbb2ef43aec_bclEnd"></a> million, respectively. The
change in the benefit plan obligations and plan assets as of December 31, 2018
was as follows:</font></font><a name="XBRL_TS_c1088908007243ce9837cf88e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Post-employment
  commitments&#160; 2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=47% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=53% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Defined Benefit Obligation</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=47% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Spain</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USA</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Rest of the world</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=47% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,442</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">470</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">360</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">520</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">387</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Current service cost</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Interest income or
  expense</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">64</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">44</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">47</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Contributions by plan
  participants</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Employer contributions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Past service costs <sup>(1)</sup></font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">148</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Remeasurements:</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(32)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(28)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(18)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Return on plan assets
  <sup>(2)</sup></font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">From changes in
  demographic assumptions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">From changes in
  financial assumptions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(28)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(45)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(12)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">Other actuarial
  gain and losses</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(32)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">29</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Benefit payments</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(824)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(48)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(35)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(18)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Settlement payments</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Business combinations
  and disposals</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Effect on changes in
  foreign exchange rates</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(134)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Conversions to
  defined contributions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other&#160; effects</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=47% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,807</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">512</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">326</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">422</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">402</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:7.0pt;">Vested benefit
  obligation relating to current employees</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">111</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A7A7A7;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A7A7A7;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#A7A7A7;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#A7A7A7;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:7.0pt;">Vested benefit
  obligation relating to retired employees</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,696</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A7A7A7;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#A7A7A7;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#A7A7A7;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#A7A7A7;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Post-employment commitments&#160;
  2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=47% style="border:none;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=53% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Plan Assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=47% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Spain</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USA</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Rest of the world</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=47% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">320</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">488</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">309</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">424</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">351</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Current service cost</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Interest income or
  expense</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">39</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Contributions by plan
  participants</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Employer
  contributions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Past service costs </font></font><sup><font color=#0066CC face=Arial,sans-serif style="border:none;"><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></sup></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Remeasurements:</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(70)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(17)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Return on plan assets
  </font></font><sup><font color=#0066CC face=Arial,sans-serif style="border:none;"><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></sup></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(70)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(17)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">From changes in
  demographic assumptions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">From changes in
  financial assumptions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">Other actuarial
  gain and losses</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Benefit payments</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(61)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(47)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(33)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(15)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Settlement payments</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Business combinations
  and disposals</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Effect on changes in
  foreign exchange rates</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(108)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Conversions to defined
  contributions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=47% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other&#160; effects</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=47% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">260</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">441</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">287</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">339</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">366</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-202</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_485"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.25pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Post-employment commitments&#160; 2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=48% style="border:none;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=52% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Net Liability (Asset)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=48% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Spain</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USA</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Rest of the world</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=48% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,122</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(18)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">51</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">96</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">36</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Current service cost</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Interest income or
  expense</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">59</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Contributions by plan
  participants</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Employer
  contributions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(13)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(18)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Past service costs </font></font><sup><font color=#0066CC face=Arial,sans-serif style="border:none;"><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></sup></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">148</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Remeasurements:</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(28)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">88</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Return on plan assets
  </font></font><sup><font color=#0066CC face=Arial,sans-serif style="border:none;"><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></sup></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">70</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">From changes in
  demographic assumptions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">From changes in
  financial assumptions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(28)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(45)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(12)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">Other actuarial
  gain and losses</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(32)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">29</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Benefit payments</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(763)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Settlement payments</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Business combinations
  and disposals</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Effect on changes in
  foreign exchange rates</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(26)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Conversions to
  defined contributions</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=48% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other&#160; effects</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=48% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,547</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">71</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">39</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">83</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">35</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;page-break-after:avoid;text-indent:-14.2pt;"><a name="XBRL_TS_27025da32784406aa61311907"></a><a name="XBRL_TS_169742502a0043cbaab8c5abb"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; Including gains and losses
arising from settlements.</font></font><a name="XBRL_TS_169742502a0043cbaab8c5abb_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;text-indent:-14.2pt;"><a name="XBRL_TS_ef8d13d7193841799a581f3b4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(2)&#160; Excluding
interest, which is recorded under &quot;Interest income or expense&quot;.</font></font><a name="XBRL_TS_27025da32784406aa61311907_bclEnd"></a><a name="XBRL_TS_ef8d13d7193841799a581f3b4_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_59904076b363410cb8e5fe6bb"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The change in net liabilities
(assets) during the years ended 2017 and 2016 was as follows:</font></font><a name="XBRL_TS_59904076b363410cb8e5fe6bb_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=11 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Post-employment
  commitments (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=20% style="border:none;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=40% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017: Net liability (asset)</font></b></font></p>
  </td>
 <td colspan=5 width=40% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016: Net liability (asset)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Spain</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USA</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Rest of the world</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Spain</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USA</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Rest of the world</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,799</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(59)</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">99</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">43</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,109</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(79)</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">35</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">97</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Current service cost</font></font></p>
  </td>
 <td width=8% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td width=8% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td width=8% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td width=8% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td width=8% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td width=8% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=8% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6</font></font></p>
  </td>
 <td width=8% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td width=8% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22</font></font></p>
  </td>
 <td width=8% style="border:none;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Interest income or
  expense</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">73</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(6)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">98</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(7)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Contributions by plan
  participants</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Employer
  contributions</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(16)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(8)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(14)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(17)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(9)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Past service costs </font></font><sup><font color=#0066CC face=Arial,sans-serif style="border:none;"><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></sup></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">235</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">240</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Remeasurements:</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(67)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">38</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">188</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Return on plan assets
  </font></font><sup><font color=#0066CC face=Arial,sans-serif style="border:none;"><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></sup></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(21)</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(10)</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(101)</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(35)</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(23)</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(8)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">From changes in
  demographic assumptions</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(3)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(5)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">From changes in
  financial assumptions</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(33)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">81</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">192</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(22)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(23)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">37</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">Other actuarial
  gain and losses</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(13)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">32</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(4)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">31</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">54</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(17)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Benefit payments</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(842)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(3)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(867)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(3)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(9)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Settlement payments</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(43)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Business combinations
  and disposals</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Effect on changes in
  foreign exchange rates</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(5)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(21)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(5)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(15)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Conversions to
  defined contributions</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(82)</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other&#160; effects</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">63</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(3)</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">20</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=20% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,122</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(18)</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">51</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">96</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">36</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,799</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(59)</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">99</font></b></font></p>
  </td>
 <td width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">42</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;page-break-after:avoid;text-indent:-14.2pt;"><a name="XBRL_TS_124ad372a04b4382af646fe6e"></a><a name="XBRL_TS_d79375b88b234bb7a1884ddfe"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; Includes gains and losses from
settlements.</font></font><a name="XBRL_TS_d79375b88b234bb7a1884ddfe_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><a name="XBRL_TS_b11235b733eb4132be985c7b7"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(2)&#160; Excludes interest which is
reflected in the line item &#8220;Interest income and expenses&#8221;.</font></font><a name="XBRL_TS_124ad372a04b4382af646fe6e_bclEnd"></a><a name="XBRL_TS_b11235b733eb4132be985c7b7_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_729f4fc8913545d18e6ba22d8"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In Spain,
local regulation requires that pension and death benefit commitments must be
funded, either through a qualified pension plan or an insurance contract.</font></font><a name="XBRL_TS_729f4fc8913545d18e6ba22d8_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_88fee7f146e448fea8e5d1cd4"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-203</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_486"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the Spanish entities these commitments are covered by insurance
contracts which meet the requirements of the accounting standard regarding the
non-recoverability of contributions. However, a significant number of the
insurance contracts are with BBVA Seguros, S.A. &#8211; a consolidated subsidiary and
related party &#8211; and consequently these policies cannot be considered plan
assets under IAS 19. For this reason, the liabilities insured under these
policies are fully recognized under the heading &quot;Provisions &#8211; Pensions and
other postemployment defined benefit obligations&quot; of the accompanying
consolidated balance sheet (see Note 24), while the related assets held by the
insurance company are included within the Group&#180;s consolidated assets (recorded
according to the classification of the corresponding financial instruments). As
of December 31, 2018 the value of these separate assets was &#8364;2,543 million,
representing direct rights of the insured employees held in the consolidated
balance sheet, hence these benefits are effectively fully funded.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On the other hand, some pension commitments have been funded
through insurance contracts with insurance companies not related to the Group,
and can therefore be considered qualifying insurance policies and plan assets
under IAS 19. In this case the accompanying consolidated balance sheet reflects
the value of the obligations net of the fair value of the qualifying insurance
policies. As of December 31, 2018, 2017 and 2016, the fair value of the
aforementioned insurance policies (&#8364;260, &#8364;320 million and &#8364;358 million,
respectively) exactly match the value of the corresponding obligations and
therefore no amount for this item has been recorded in the accompanying
consolidated balance sheet.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Pensions benefits are paid by the insurance companies with whom
BBVA has insurance contracts and to whom all insurance premiums have been paid.
The premiums are determined by the insurance companies using &#8220;cash flow
matching&#8221; techniques to ensure that benefits can be met when due, guaranteeing
both the actuarial and interest rate risk.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In Mexico, there is a defined benefit plan for employees hired
prior to 2001. Other employees participate in a defined contribution plan.
External funds/trusts have been constituted locally to meet benefit payments as
required by local regulation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the United States there are mainly two defined benefit plans,
both closed to new employees, who instead are able to join a defined
contribution plan. External funds/trusts have been constituted locally to fund
the plans, as required by local regulation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In 2008, the Turkish government passed a law to unify the
different existing pension systems under a single umbrella Social Security
system. Such system provides for the transfer of the various previously
established funds.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The financial sector is in this stage at present, maintaining
these pension commitments managed by external pension funds (foundations)
established for that purpose.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Foundation that maintains the assets and liabilities relating
to employees of Garanti in Turkey, as per the local regulatory requirements,
has recorded an obligation amounting to &#8364;241 million as of December 31, 2018
pending future transfer to the Social Security system.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Furthermore, Garanti has set up a defined benefit pension plan for
employees, additional to the social security benefits, reflected in the
consolidated balance sheet.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Until the year 2016, the Bank also had commitments to pay
indemnities to certain employees and members of the Group&#8217;s Senior Management
in the event that they cease to hold their positions for reasons other than
their own will, retirement, disability or serious dereliction of duties. The
amount will be calculated according to the salary and professional conditions
of each employee, taking into consideration fixed elements of the remuneration
and the length of office at the Bank. Under no circumstances indemnities will
be paid in cases of disciplinary dismissal for misconduct upon decision of the
employer on grounds of the employee's serious dereliction of duties.</font></font><a name="XBRL_TS_88fee7f146e448fea8e5d1cd4_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_fb12e618f8ef4f0f88f3033e3"></a><a name="_Toc106047"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-204</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_487"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">25.1.2 Medical benefit commitments</font></b></font><a name="XBRL_TS_fb12e618f8ef4f0f88f3033e3_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><a name="XBRL_TS_4f1baa88f936401cb59ee37f4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The change in defined benefit obligations and plan assets during
the years 2018, 2017 and 2016 was as follows:</font></font><a name="XBRL_TS_4f1baa88f936401cb59ee37f4_bclEnd"></a></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=10 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Medical Benefits Commitments</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=28% style="border:none;height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=24% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=3 width=24% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td colspan=3 width=24% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:42.75pt;">
  <td width=28% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Defined Benefit Obligation</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Plan assets</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Net liability (asset)</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Defined Benefit Obligation</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Plan assets</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Net liability (asset)</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Defined Benefit Obligation</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Plan assets</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Net liability (asset)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,204</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,114</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">91</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,015</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,113</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(98)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,022</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,149</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(127)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Current service cost</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Interest income or
  expense</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">116</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">109</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">101</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">112</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">86</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">97</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Contributions by plan
  participants</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Employer
  contributions</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">71</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(71)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">114</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(114)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Past service costs </font></font><sup><font color=#0066CC face=Arial,sans-serif style="border:none;"><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></sup></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(42)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(42)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Remeasurements:</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(210)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(164)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(47)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">200</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">179</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">59</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(60)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">119</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;&#160;&#160; Return on plan
  assets </font></font><sup><font color=#0066CC face=Arial,sans-serif style="border:none;"><font color=#0066CC face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></sup></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(164)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">164</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(60)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">60</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; From
  changes in demographic assumptions</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">83</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">83</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">110</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">110</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; From changes
  in financial assumptions</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(182)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(182)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">128</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">128</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(91)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(91)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other
  actuarial gain and losses</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(28)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(28)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">39</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">39</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Benefit payments</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(34)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(33)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(35)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(33)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(33)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(30)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Settlement payments</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Business combinations
  and disposals</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Effect on changes in
  foreign exchange rates</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">62</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">59</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(92)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(100)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(138)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(156)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other&#160; effects</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=28% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,114</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,146</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(32)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,204</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,114</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">91</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,015</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,113</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(98)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;text-indent:-14.2pt;"><a name="XBRL_TS_c667cdd42df04f3d9c2d4a67e"></a><a name="XBRL_TS_83e5f653aa184e2e85bc84147"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; Including gains and losses
arising from settlements.</font></font><a name="XBRL_TS_83e5f653aa184e2e85bc84147_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;text-indent:-14.2pt;"><a name="XBRL_TS_811a8efa1ad24ab1bfe96a686"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(2)&#160; Excluding
interest, which is recorded under &quot;Interest income or expense&quot;.</font></font><a name="XBRL_TS_811a8efa1ad24ab1bfe96a686_bclEnd"></a><a name="XBRL_TS_c667cdd42df04f3d9c2d4a67e_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_d3aeda29b0a34bb699cefa5fd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In Mexico,
there is a medical benefit plan for employees hired prior to 2007. New
employees from 2007 are covered by a medical insurance policy. An external
trust has been constituted locally to fund the plan, in accordance with local
legislation and Group policy.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In Turkey, employees are currently provided with medical benefits
through a foundation in collaboration with the Social Security system, although
local legislation prescribes the future unification of this and similar systems
into the general Social Security system itself.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The valuation of these benefits and their accounting treatment
follow the same methodology as that employed in the valuation of pension
commitments.</font></font><a name="XBRL_TS_d3aeda29b0a34bb699cefa5fd_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_0c97881ffbd548f8894106a43"></a><a name="_Toc106048"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">25.1.3
Estimated benefit payments</font></b></font><a name="XBRL_TS_0c97881ffbd548f8894106a43_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_aa514cc93d9d4df3b05eba916"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, the estimated benefit payments over the next ten years for
all the entities in Spain, Mexico, The United States and Turkey are as follows:</font></font><a name="XBRL_TS_aa514cc93d9d4df3b05eba916_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Estimated Benefit
  Payments (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td nowrap width=28% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2020</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2021</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2022</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2023</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2024-2028</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=28% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Commitments in Spain</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">684</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">611</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">518</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">419</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">333</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">965</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=28% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Commitments in Mexico</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">91</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">92</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">99</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">106</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">112</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">680</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=28% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Commitments in United
  States</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">103</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=28% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Commitments in Turkey</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">231</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=28% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">815</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">734</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">652</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">563</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">489</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,979</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_b1afb7647599403a97c103d20"></a><a name="_Toc106049"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-205</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_488"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">25.1.4 Plan assets</font></b></font><a name="XBRL_TS_b1afb7647599403a97c103d20_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_1f22337e1814464ab3f4a3d73"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
majority of the Group&#180;s defined benefit plans are funded by plan assets held in
external funds/trusts legally separate from the Group sponsoring entity.
However, in accordance with local regulation, some commitments are not
externally funded and covered through internally held provisions, principally
those relating to early retirements in Spain.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Plan assets are those assets which will be used to directly settle
the assumed commitments and which meet the following conditions: they are not
part of the Group sponsoring entities assets, they are available only to pay
post-employment benefits and they cannot be returned to the Group sponsoring
entity.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">To manage the assets associated with defined benefit plans, BBVA
Group has established investment policies designed according to criteria of
prudence and minimizing the financial risks associated with plan assets.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The investment policy consists of investing in a low risk and
diversified portfolio of assets with maturities consistent with the term of the
benefit obligation and which, together with contributions made to the plan,
will be sufficient to meet benefit payments when due, thus mitigating the
plans&#8216; risks.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In those countries where plan assets are held in pension funds or
trusts, the investment policy is developed consistently with local regulation.
When selecting specific assets, current market conditions, the risk profile of
the assets and their future market outlook are all taken into consideration. In
all the cases, the selection of assets takes into consideration the term of the
benefit obligations as well as short-term liquidity requirements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The risks associated with these commitments are those which give
rise to a deficit in the plan assets. A deficit could arise from factors such
as a fall in the market value of plan assets, an increase in long-term interest
rates leading to a decrease in the fair value of fixed income securities, or a
deterioration of the economy resulting in more write-downs and credit rating downgrades.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The table below shows the allocation of plan assets of the main
companies of the BBVA Group as of December 31, 2018:</font></font><a name="XBRL_TS_1f22337e1814464ab3f4a3d73_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=2 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Plan Assets Breakdown
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td nowrap width=89% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Cash or cash
  equivalents</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities
  (Government bonds)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,080</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Property</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mutual funds</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Insurance contracts</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">132</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other investments</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=89% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,241</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Bank account
  in BBVA</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">Debt securities
  issued by BBVA</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Property
  occupied by BBVA</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_bf37e8a9f40b402fbde9fce56"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition
to the above there are plan assets relating to the previously mentioned
insurance contracts in Spain and the foundation in Turkey.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The following table provides details of investments in listed
securities (Level 1) as of December 31, 2018:</font></font><a name="XBRL_TS_bf37e8a9f40b402fbde9fce56_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=2 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Investments in listed
  markets</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td nowrap width=89% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=89% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Cash or cash
  equivalents</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities
  (Government bonds)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,080</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mutual funds</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=89% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,109</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Bank account
  in BBVA</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=89% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">Debt securities
  issued by BBVA</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=89% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Property
  occupied by BBVA</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-206</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_489"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_8a6d237df5a64687bfd1b428d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
remainders of the assets are mainly invested in Level 2 assets in in accordance
with the classification established under IFRS 13 (mainly insurance contracts).
As of December 31, 2018, almost all of the assets related to employee&#8217;s
commitments corresponded to fixed income securities.</font></font><a name="XBRL_TS_8a6d237df5a64687bfd1b428d_bclEnd"></a></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_86d322277b67453aa36fc1727"></a><a name="_Toc106050"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;">25.2&#160; Defined contribution </font></b></font><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;">plans</font></b></font><a name="XBRL_TS_86d322277b67453aa36fc1727_bclEnd"></a></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_c8a0d590bd844fe5829b65c03"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Certain
Group entities sponsor defined contribution plans. Some of these plans allow
employees to make contributions which are then matched by the employer.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Contributions are recognized as and when they are accrued, with a
charge to the consolidated income statement in the corresponding year. No
liability is therefore recognized in the accompanying consolidated balance
sheet (see Note 44.1).</font></font><a name="XBRL_TS_c8a0d590bd844fe5829b65c03_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_d4dd698e80df4ef2a1b838560"></a><a name="_Toc106051"></a><a name="_Toc495478140"></a><a name="_Toc481589088"></a><a name="_Toc474142290"></a><a name="_Toc457490033"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">26.&#160;&#160; Common stock</font></b></font><a name="XBRL_TS_d4dd698e80df4ef2a1b838560_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_25071d3d464d4ff68c823b5b9"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018 BBVA&#8217;s common stock amounted to &#8364;</font></font><a name="XBRL_CS_74a8cb874b354c989fc3adb34"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">3,267,264,424.20</font></font><a name="XBRL_CS_74a8cb874b354c989fc3adb34_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> divided into <a name="XBRL_CS_dc94323f5f7647bc853a648cd"></a>6,667,886,580<a name="XBRL_CS_dc94323f5f7647bc853a648cd_bclEnd"></a>&#160; fully subscribed and
paid-up registered shares, all of the same class and series, at &#8364;<a name="XBRL_CS_afeb80587f654970a8506ba46"></a>0.49<a name="XBRL_CS_afeb80587f654970a8506ba46_bclEnd"></a> par value each,
represented through book-entries. All of the Bank shares carry the same voting
and dividend rights, and no single stockholder enjoys special voting rights.
Each and every share is part of the Bank&#8217;s common stock. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_36468a1f67e345d695eac6da3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Bank&#8217;s
shares are traded on the stock markets of Madrid, Barcelona, Bilbao and
Valencia through the </font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Sistema de Interconexi&#243;n Burs&#225;til Espa&#241;ol (Mercado
Continuo),</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> as well as on the London and Mexico stock markets. BBVA American
Depositary Shares (ADSs) traded on the New York Stock Exchange.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Additionally, as of December 31, 2018, the shares of BBVA Banco
Continental, S.A.; Banco Provincial, S.A.; BBVA Colombia, S.A.; BBVA Banco
Franc&#233;s, S.A. and Turkiye Garanti Bankasi A.S., were listed on their respective
local stock markets. BBVA Banco Franc&#233;s, S.A. was also quoted in the Latin
American market (Latibex) of the Madrid Stock Exchange and the New York Stock
Exchange.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, State Street Bank and Trust Co., Chase
Nominees Ltd and The Bank of New York Mellon SA NV in their capacity as
international custodian/depositary banks, held <a name="XBRL_CS_c6e30bad454f458dabd7ce620"></a>10.69%<a name="XBRL_CS_c6e30bad454f458dabd7ce620_bclEnd"></a>, <a name="XBRL_CS_aae236a703e541a19d7873c3f"></a>6.33%<a name="XBRL_CS_aae236a703e541a19d7873c3f_bclEnd"></a>, and <a name="XBRL_CS_d635fe6f8bf940e59dfb71989"></a>2.31%<a name="XBRL_CS_d635fe6f8bf940e59dfb71989_bclEnd"></a> of BBVA common stock,
respectively. Of said positions held by the custodian banks, BBVA is not aware
of any individual shareholders with direct or indirect holdings greater than or
equal to 3% of BBVA common stock outstanding.</font></font><a name="XBRL_CS_36468a1f67e345d695eac6da3_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_3b852f0efa9547efa63c52e35"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On February
4, 2019, Blackrock, Inc. reported to the SEC that, as of December 31, 2018, it
beneficially owned 6.6% of BBVA&#8217;s common stock.</font></font><a name="XBRL_CS_3b852f0efa9547efa63c52e35_bclEnd"></a><a name="XBRL_TS_25071d3d464d4ff68c823b5b9_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_4e9427e293924eb9a1a308352"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA is not
aware of any direct or indirect interests through which control of the Bank may
be exercised. BBVA has not received any information on stockholder agreements
including the regulation of the exercise of voting rights at its annual general
meetings or restricting or placing conditions on the free transferability of
BBVA shares. No agreement is known that could give rise to changes in the
control of the Bank.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The changes in the heading
&#8220;Paid up Capital&#8221; of the accompanying consolidated balance sheets are due to</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
following common stock increases:</font></font><a name="XBRL_TS_4e9427e293924eb9a1a308352_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Capital Increase</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Number of Shares</font></b></font></p>
  </td>
 <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Common Stock</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=58% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">As of December
  31, 2015</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,366,680,118</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,120</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=58% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Dividend option -
  April 2016</font></font></p>
  </td>
 <td nowrap width=21% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">113,677,807</font></font></p>
  </td>
 <td nowrap width=21% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=58% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Dividend option -
  October 2016</font></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">86,257,317</font></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=58% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">As of December
  31, 2016</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,566,615,242</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,218</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=58% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Dividend option .
  April 2017</font></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">101,271,338</font></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">50</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=58% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">As of December
  31, 2017</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,667,886,580</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,267</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=58% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">As of December
  31, 2018</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,667,886,580</font></b></font></p>
  </td>
 <td nowrap width=21% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,267</font></b></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-207</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_cd24fec12f194dbb9990357bf"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8220;Dividend Option&#8221; Program in 2017:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The AGM of BBVA held on March 17, 2017 adopted, under agenda item
three, a capital increase to be charged to voluntary reserves to implement the
shareholder remuneration system called the &#8220;Dividend Option&#8221; this year in
similar conditions to those agreed in 2014, 2015 and 2016, conferring on the
Board of Directors, in accordance with article 297.1.a) of the Spanish
Companies Act, the authority to set the date on which the capital increase
should be carried out, within one year of the date of approval of the AGM
resolution.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">By virtue of such resolution, the Board of Directors of BBVA
resolved, on March 29, 2017, to execute the capital increase to be charged to
voluntary reserves, in accordance with the terms and conditions approved by the
AGM mentioned above. As a result, BBVA&#8217;s share capital was increased by an
amount of 49,622,955.62 euros through the issuance of 101,271,338 newly-issued
BBVA ordinary shares at 0.49 euros par value each (see Note 4).</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8220;Dividend Option&#8221; Program in
2016:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The AGM held on March 11, 2016, under agenda item three, adopted
four capital increase resolutions to be charged to voluntary reserves to once
again implement the shareholder remuneration program called the &#8220;Dividend
Option&#8221; (see Note 4), conferring on the Board of Directors, in accordance with
article 297.1 a) of the Spanish Companies Act, the authority to set the date on
which said capital increases should be carried out, within one year of the date
of approval of the AGM resolution, including the power not to implement any of
the resolutions, when deemed advisable.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On March 31, 2016, the Board of Directors of BBVA approved the
execution of the first of the capital increases charged to voluntary reserves,
in accordance with the terms and conditions agreed by the aforementioned AGM.
As a result of this increase, the Bank&#8217;s capital increased by &#8364;55,702,125.43
through the issuance of 113,677,807 ordinary shares at &#8364;0.49 par values each.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On September 28, 2016, BBVA&#8217;s Board of Directors approved the
execution of the second of the capital increases charged to voluntary reserves
in accordance with the terms and conditions agreed by the aforementioned AGM.
As a result of this increase, the Bank&#8217;s capital increased by &#8364;42,266,085.33
through the issuance of 86,257,317 ordinary shares at &#8364;0.49 par value each.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-208</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Convertible
and/or exchangeable securities:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_e4f1adc7cdb74e79b0117f644"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The AGM
held on March 17, 2017, resolved, under agenda item five, to confer authority
to the Board of Directors to issue securities convertible into newly issued
BBVA shares, on one or several occasions, within the maximum term of five years
to be counted from the approval date of the authorization, up to a maximum
overall amount of &#8364;8 billion or its equivalent in any other currency</font></font><a name="XBRL_CS_e4f1adc7cdb74e79b0117f644_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. Likewise, the AGM resolved
to confer to the Board of Directors the authority to totally or partially
exclude shareholders&#8217; pre-emptive subscription rights within the framework of a
specific issue of convertible securities, although this power was limited to
ensure the nominal amount of the capital increases resolved or effectively
carried out to cover the conversion of mandatory convertible issuances of this
authority (without prejudice to anti-dilution adjustments), with exclusion of
pre-emptive subscription rights and of those likewise resolved or carried out
with exclusion of pre-emptive subscription rights in use of the authority to
increase the share capital conferred by the AGM held on March 17, 2017, under
agenda item four, do not exceed the maximum nominal amount, overall, of 20% of
the share capital of BBVA at the time of the authorization, this limit not
being applicable to contingent convertible issues.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In use of the authority mentioned above, BBVA carried out, on May
24, 2017 the fifth issuance of perpetual contingent convertible securities
(additional tier 1 instrument), with exclusion of pre-emptive subscription
rights of shareholders, for a total nominal amount of &#8364;<a name="XBRL_CS_d945ffaabedc442d9cbe732e9"></a>500<a name="XBRL_CS_d945ffaabedc442d9cbe732e9_bclEnd"></a> million. This issuance is
listed in the Global Exchange Market of the Irish Stock Exchange and was
targeted only at qualified investors, not being offered to, and not being
subscribed for, in Spain or by Spanish residents. The issuance qualifies as
additional tier 1 capital of the Bank and the Group in accordance with
Regulation EU 575/2013 (see Note 22.4).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Likewise, in use of such authority, BBVA carried out, on November
14, 2017 the sixth issuance of perpetual contingent convertible securities
(additional tier 1 instrument), with exclusion of pre-emptive subscription
rights of shareholders, for a total nominal amount of $<a name="XBRL_CS_ed58e6d782454b2bb12ea3b50"></a>1,000<a name="XBRL_CS_ed58e6d782454b2bb12ea3b50_bclEnd"></a> million. This issuance is
listed in the Global Exchange Market of the Irish Stock Exchange and was
targeted only at qualified investors, not being offered to, and not being
subscribed for, in Spain or by Spanish residents. The qualification of this
issuance as additional tier 1 capital has been requested (see Note 22.4).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In past years, BBVA has carried out, in use of the authority to
issue convertible securities conferred by the AGM held on March 16, 2012 (in
effect until March 16, 2017), four additional issuances of perpetual contingent
convertible securities (additional tier 1 instrument), with exclusion of
pre-emptive subscription rights of shareholders (in April 2013 for an amount of
$<a name="XBRL_CS_2df351e5d316460992577ee06"></a>1.5<a name="XBRL_CS_2df351e5d316460992577ee06_bclEnd"></a> billion, in February 2014
and February 2015 for an amount of &#8364;<a name="XBRL_CS_7b874e5ebbdf401e81fda34d5"></a><a name="XBRL_CS_0c41f491b54c47fcb56e4ad1f"></a>1.5<a name="XBRL_CS_0c41f491b54c47fcb56e4ad1f_bclEnd"></a><a name="XBRL_CS_7b874e5ebbdf401e81fda34d5_bclEnd"></a> billion each one, and in
April 2016 for an amount of &#8364;<a name="XBRL_CS_a93f0880c5474efdbb69a35f1"></a>1<a name="XBRL_CS_a93f0880c5474efdbb69a35f1_bclEnd"></a> billion). These issuances
were targeted only at qualified investors and foreign private banking clients
not being offered to, and not being subscribed for, in Spain or by Spanish
residents. The first two issuances are listed in the Singapore Exchange
Securities Trading Limited and the last two issuances are listed in the Global
Exchange Market of the Irish Stock Exchange. Furthermore, these four issuances
qualify as additional tier 1 capital of the Bank and the Group in accordance
with Regulation UE 575/2013 (see Note 22.4).
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-209</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Convertible
and/or exchangeable securities:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_f1100f47f2f4487887e90a801"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA&#8217;s AGM held on March 17, 2017
resolved, under agenda item four, to confer authority on the Board of Directors
to increase Bank&#8217;s share capital, on one or several occasions, subject to
provisions in the law and in the Company Bylaws that may be applicable at any
time, within the legal term of five years of the approval date of the
authorization, up to the maximum amount corresponding to 50% of Bank&#8217;s share
capital at the time on which the resolution was adopted, likewise conferring
authority to the Board of Directors to totally or partially exclude
shareholders&#8217; pre-emptive subscription rights over any specific issue that may
be made under such authority; although the power to exclude pre-emptive
subscription rights was limited, such that the nominal amount of the capital
increases resolved or effectively carried out with the exclusion of pre-emptive
subscription rights in use of the referred authority and those that may be
resolved or carried out to cover the conversion of mandatory convertible issues
that may equally be made with the exclusion of pre-emptive subscription rights
in use of the authority to issue convertible securities conferred by the AGM
held on March 17, 2017, under agenda item five (without prejudice to the
anti-dilution adjustments) shall not exceed the nominal maximum overall amount
of 20% of the share capital of BBVA at the time of the authorization.</font></font><a name="XBRL_CS_f1100f47f2f4487887e90a801_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of the date of this document, the Bank&#8217;s Board of Directors has
not exercised the authority conferred by the AGM.</font></font><a name="XBRL_TS_cd24fec12f194dbb9990357bf_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc376949983"></a><a name="_Toc347755864"></a><a name="_Toc331260326"></a><a name="_Toc299032885"></a><a name="_Toc299031546"></a><a name="_Toc299029464"></a><a name="_Toc298431728"></a><a name="XBRL_TS_d484d7ebe0104dc7a01e7d8d7"></a><a name="_Toc106052"></a><a name="_Toc495478141"></a><a name="_Toc481589089"></a><a name="_Toc474142291"></a><a name="_Toc457490034"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">27.&#160;&#160; Share premium</font></b></font><a name="XBRL_TS_d484d7ebe0104dc7a01e7d8d7_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_3da93d8ea1884eb682572884d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, 2017 and 2016, the balance under this heading in the
accompanying consolidated balance sheets was &#8364;23,992 million. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amended Spanish Corporation Act expressly permits the use of
the share premium balance to increase capital and establishes no specific
restrictions as to its use<a name="Nota_29"></a><a name="Nota_29_bclEnd"></a>
(see Note 26).</font></font><a name="XBRL_TS_3da93d8ea1884eb682572884d_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_dd4c679a55d6459593b1db4a1"></a><a name="_Toc106053"></a><a name="_Toc495478142"></a><a name="_Toc481589090"></a><a name="_Toc474142292"></a><a name="_Toc457490035"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">28.&#160;&#160; Retained earnings, revaluation reserves and other reserves</font></b></font><a name="XBRL_TS_dd4c679a55d6459593b1db4a1_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_d23048a087584904ac3bb55ac"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under this heading in the accompanying consolidated
balance sheet is as follows:</font></font><a name="XBRL_TS_d23048a087584904ac3bb55ac_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Retained earnings,
  revaluation reserves and other reserves. Breakdown by concepts (Millions of
  euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Legal reserve</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">653</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">644</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">624</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Restricted reserve</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">133</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">159</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">201</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Reserves for
  regularizations and balance revaluations</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Voluntary reserves</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,010</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,643</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,521</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total reserves
  holding company </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,799</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,458</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,366</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Consolidation
  reserves attributed to the Bank and dependent consolidated companies.</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,164</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,132</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,439</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,963</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,590</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,805</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_bb4594b07c194e4fa279dd0bb"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The impact of the first application
of IFRS 9 and the change in accounting policies due to hyperinflation is
recorded in the heading &quot;Consolidation reserves attributed to the Bank and
dependent consolidated companies&quot; of the previous table (see Notes 1.3,
2.4 and 2.2.20).</font></font><a name="XBRL_TS_bb4594b07c194e4fa279dd0bb_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_68246cc3ebbc483f82168cd46"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-210</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_493"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-35.45pt;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;line-height:115%;">28.1&#160; Legal reserve</font></b></font><a name="XBRL_TS_68246cc3ebbc483f82168cd46_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_688691d787184a5aba8f42f95"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Under the
amended Corporations Act, 10% of any profit made each year must be transferred
to the legal reserve. The transfer must be made until the legal reserve reaches
20% of the common stock.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The legal reserve can be used to increase the common stock
provided that the remaining reserve balance does not fall below 10% of the
increased capital. While it does not exceed 20% of the common stock, it can
only be allocated to offset losses exclusively in the case that there are not
sufficient reserves available.</font></font><a name="XBRL_TS_688691d787184a5aba8f42f95_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_70535a852ed14a26a4a1de733"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;line-height:115%;">28.2&#160; Restricted reserves</font></b></font><a name="XBRL_TS_70535a852ed14a26a4a1de733_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><a name="XBRL_TS_4d1676c5693f47a2979be545c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, 2017 and 2016, the Bank&#8217;s restricted
reserves are as follows:</font></font><a name="XBRL_TS_4d1676c5693f47a2979be545c_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Restricted Reserves
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Restricted reserve
  for retired capital</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">88</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">88</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">88</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=67% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Restricted reserve
  for Parent Company shares and loans for those shares</font></font></p>
  </td>
 <td nowrap width=11% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44</font></font></p>
  </td>
 <td nowrap width=11% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69</font></font></p>
  </td>
 <td nowrap width=11% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">111</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Restricted reserve
  for redenomination of capital in euros</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">133</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">159</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">201</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_a4aa79dbbf9c48fc8b3f141ec"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
restricted reserve for retired capital resulted from the reduction of the
nominal par value of the BBVA shares made in April 2000.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The second heading corresponds to restricted reserves related to
the amount of shares issued by the Bank in its possession at each date, as well
as the amount of customer loans outstanding at those dates that were granted
for the purchase of, or are secured by, the Parent Company shares.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Finally, pursuant to Law 46/1998 on the Introduction of the Euro,
a restricted reserve is recognized as a result of the rounding effect of the
redenomination of the Parent Company common stock in euros.</font></font><a name="XBRL_TS_a4aa79dbbf9c48fc8b3f141ec_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_a62930c5337e4a5187cd2b74f"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-211</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_494"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-35.45pt;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;line-height:115%;">28.3&#160; Retained
earnings, revaluation reserves and other reserves by entity</font></b></font><a name="XBRL_TS_a62930c5337e4a5187cd2b74f_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_51ae538c6a7e433fac2a1fd65"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown, by company or corporate group, under the headings &#8220;Retained
earnings, revaluation reserves and other reserves&#8221; in the accompanying
consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_51ae538c6a7e433fac2a1fd65_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Retained earnings, Revaluation
  reserves and Other reserves (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Retained earnings and
  Revaluation reserves</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Holding Company </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,643</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,625</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,101</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Bancomer Group</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,014</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,442</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,108</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Seguros, S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(127)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(215)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(62)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Corporacion General
  Financiera, S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,084</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,202</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,187</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Banco Provincial
  Group</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(124)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(113)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(92)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Chile Group</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">552</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">951</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,264</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Paraguay</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">119</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">108</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">98</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Compa&#241;&#237;a de Cartera e
  Inversiones, S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">108</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(27)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Anida Grupo
  Inmobiliario, S.L.</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">363</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">515</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">528</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Suiza, S.A. </font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(53)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(57)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Continental
  Group</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">756</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">681</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">611</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Luxinvest, S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(48)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Colombia Group</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">998</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">926</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">803</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Banco Franc&#233;s
  Group</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">103</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">999</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">827</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Banco Industrial De
  Bilbao, S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">61</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Uno-E Bank, S.A</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Gran Jorge Juan, S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(33)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(47)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(30)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Portugal Group</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(66)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(436)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(477)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Participaciones
  Arenal, S.L.</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(183)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(180)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Propiedad S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(503)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(431)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Anida Operaciones
  Singulares, S.L.</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,317)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(4,881)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(4,127)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Grupo BBVA USA
  Bancshares</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(586)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(794)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,053)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Garanti Turkiye
  Bankasi Group</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,415</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">751</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">127</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Unnim Real Estate</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(587)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(576)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(477)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Bilbao Vizcaya
  Holding, S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">145</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">139</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Pecri Inversi&#243;n S.L.</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(74)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(73)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(75)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(164)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">127</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=67% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,021</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,624</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,864</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other reserves or
  accumulated losses of investments in joint ventures and associates</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Metrovacesa, S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Metrovacesa Suelo,
  S.A.</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(61)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(53)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(52)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(7)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=67% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(59)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(35)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(59)</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,963</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,590</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,805</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_09433763c3304359a44be315c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">For the
purpose of allocating the reserves and accumulated losses to the consolidated
entities and to the parent company, the transfers of reserves arising from the
dividends paid and transactions between these entities are taken into account
in the period in which they took place.</font></font><a name="XBRL_TS_09433763c3304359a44be315c_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-212</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_495"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_22a49ae87c084485a3941873a"></a><a name="_Toc106054"></a><a name="_Toc495478143"></a><a name="_Toc481589091"></a><a name="_Toc474142296"></a><a name="_Toc457490036"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">29.&#160;&#160; Treasury shares</font></b></font><a name="XBRL_TS_22a49ae87c084485a3941873a_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_d5c737b4efb04b4da151c9e86"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the
years ended December 31, 2018, 2017 and 2016 the Group entities performed the
following transactions with shares issued by the Bank:</font></font><a name="XBRL_TS_d5c737b4efb04b4da151c9e86_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Treasury Shares
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=37% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=2 width=20% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2017</font></b></font></p>
  </td>
 <td colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:35.1pt;">
  <td width=37% style="border:none;border-bottom:solid black 1.0pt;height:35.1pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:35.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of Shares</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:35.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:35.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of Shares</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:35.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:35.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of Shares</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:35.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=37% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at
  beginning</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13,339,582</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">96</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,230,787</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">48</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38,917,665</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">309</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td valign=bottom width=37% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;+ Purchases</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">279,903,844</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,683</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">238,065,297</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,674</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">379,850,939</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,004</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td valign=bottom width=37% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;- Sales and other
  changes</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(245,985,735)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,505)</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(231,956,502)</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,622)</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(411,537,817)</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,263)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td valign=bottom width=37% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;+/- Derivatives on
  BBVA shares</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td valign=bottom width=37% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;+/- Other changes</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=37% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Balance at the
  end</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47,257,691</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">296</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13,339,582</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">96</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,230,787</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">48</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=37% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=37% style="height:7.9pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Held by BBVA, S.A.</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,789,894</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=37% style="height:7.9pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Held by
  Corporaci&#243;n General Financiera, S.A.</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47,257,691</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">296</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13,339,582</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">96</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,440,893</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td width=37% style="height:7.9pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Held by other
  subsidiaries</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td valign=bottom width=37% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Average purchase
  price in Euros</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6.11</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7.03</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5.27</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td valign=bottom width=37% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Average selling price
  in Euros</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6.25</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6.99</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5.50</font></font></p>
  </td>
 <td nowrap width=11% style="height:7.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.6pt;">
  <td valign=bottom width=37% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Net gain or losses on
  transactions</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&#160;&nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(Shareholders' funds-Reserves)</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(24)</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(30)</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_926fafd14aff42b9958e6549e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The percentages of treasury shares
held by the Group in the years ended December 31, 2018, 2017 and 2016 are as
follows:</font></font><a name="XBRL_TS_926fafd14aff42b9958e6549e_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=10 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Treasury Stock</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=16% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=30% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=3 width=27% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td colspan=3 width=27% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Min</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Max</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Closing</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Min</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Max</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Closing</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Min</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Max</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Closing</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=16% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">% treasury stock</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.200%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.850%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.709%</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.004%</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.278%</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.200%</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.081%</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.756%</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.110%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_3508ae77b5614a50b204e27b6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The number of BBVA shares accepted
by the Group in pledge of loans as of December 31, 2018, 2017 and 2016 is as
follows:</font></font><a name="XBRL_TS_3508ae77b5614a50b204e27b6_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Shares of BBVA
  Accepted in Pledge</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=67% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Number of shares in
  pledge</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">61,632,832</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">64,633,003</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90,731,198</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Nominal value</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.49</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.49</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.49</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">% of share capital</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.92%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.97%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.38%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_c4891ef424904efe8bb7664e7"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The number of BBVA shares owned by
third parties but under management of a company within the Group as of December
31, 2018, 2017 and 2016 is as follows:</font></font><a name="XBRL_TS_c4891ef424904efe8bb7664e7_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Shares of BBVA Owned
  by Third Parties but Managed by the Group</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=67% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Number of shares
  owned by third parties</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,306,229</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,597,310</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">85,766,602</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Nominal value</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.49</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.49</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.49</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">% of share capital</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.38%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.52%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.31%</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-213</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_496"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc376949988"></a><a name="_Toc347755866"></a><a name="_Toc347755867"></a><a name="_Toc331260329"></a><a name="_Toc299032888"></a><a name="_Toc299031549"></a><a name="_Toc299029467"></a><a name="_Toc298431731"></a><a name="XBRL_TS_1baa39db8277447cb22863d82"></a><a name="_Toc106055"></a><a name="_Toc495478144"></a><a name="_Toc481589092"></a><a name="_Toc474142297"></a><a name="_Toc457490037"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">30.&#160;&#160;
Accumulated other comprehensive income</font></b></font><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;"> (loss)</font></b></font><a name="XBRL_TS_1baa39db8277447cb22863d82_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_d78b32c23bf343528edefe40c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under this heading in the accompanying consolidated
balance sheets is as follows:</font></font><a name="XBRL_TS_d78b32c23bf343528edefe40c_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Accumulated other
  comprehensive income (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017(*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016(*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Items that will not
  be reclassified to profit or loss</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,284)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,183)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,095)</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=56% style="border:none;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Actuarial gains or
  losses on defined benefit pension plans</font></font></p>
  </td>
 <td width=11% style="border:none;height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,245)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,183)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,095)</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=56% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Non-current assets
  and disposal groups classified as held for sale</font></font></p>
  </td>
 <td width=11% style="height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=56% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&#160;Share of other
  recognized income and expense of investments in subsidiaries, joint ventures
  and associates</font></font></p>
  </td>
 <td width=11% style="height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=56% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  equity instruments measured at fair value through other comprehensive income</font></font></p>
  </td>
 <td width=11% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13.4</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(155)</font></font></p>
  </td>
 <td nowrap width=11% style="background:#BFBFBF;height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#BFBFBF;height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=56% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Hedge ineffectiveness
  of fair value hedges for equity instruments measured at fair value through
  other comprehensive income</font></font></p>
  </td>
 <td width=11% style="height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:#BFBFBF;height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#BFBFBF;height:18.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.9pt;">
  <td width=56% style="height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  equity instruments measured at fair value through other comprehensive income
  (hedged item)</font></font></p>
  </td>
 <td width=11% style="height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:#BFBFBF;height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#BFBFBF;height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.9pt;">
  <td width=56% style="height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  equity instruments measured at fair value through other comprehensive income
  (hedging instrument)</font></font></p>
  </td>
 <td width=11% style="height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:#BFBFBF;height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#BFBFBF;height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  financial liabilities at fair value through profit or loss attributable to
  changes in their credit risk </font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">116</font></font></p>
  </td>
 <td nowrap width=11% style="background:#BFBFBF;border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#BFBFBF;border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Items that may be
  reclassified to profit or loss</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,932)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,755)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,527)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=56% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Hedge of net
  investments in foreign operations (effective portion)</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(218)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(118)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=56% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Foreign currency
  translation </font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(6,643)</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(7,297)</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3,349)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=56% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Hedging derivatives.
  Cash flow hedges (effective portion)</font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(34)</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=56% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets
  available for sale</font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13.4</font></font></p>
  </td>
 <td nowrap width=11% style="background:#BFBFBF;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,641</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">947</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=56% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Fair value changes of
  debt instruments measured at fair value through other comprehensive income</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13.4</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">943</font></font></p>
  </td>
 <td nowrap width=11% style="background:#BFBFBF;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#BFBFBF;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=56% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Hedging instruments
  (non-designated items)</font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=56% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Non-current assets
  and disposal groups classified as held for sale</font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(26)</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:16.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Share of other
  recognized income and expense of investments in subsidiaries, joint ventures
  and associates</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(40)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(31)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(7,215)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(6,939)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3,622)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_FS_11d369b00aec45aebe701f079"></a><a name="XBRL_TS_fa290c2e6ea2473db56c9f7ce"></a><a name="XBRL_TS_fe36ef87faaa435b83046b3a0"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:8.0pt;">(*)&#160; See Note 1.3.</font></font><a name="XBRL_FS_11d369b00aec45aebe701f079_bclEnd"></a><a name="XBRL_TS_fa290c2e6ea2473db56c9f7ce_bclEnd"></a><a name="XBRL_TS_fe36ef87faaa435b83046b3a0_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_487aaf5963cd46e39849cd9b7"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The balances recognized under these
headings are presented net of tax.</font></font><a name="XBRL_TS_487aaf5963cd46e39849cd9b7_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-214</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_497"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=BBVABentonSansLight lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_982f0a6fc5f74d59a0207a8ba"></a><a name="_Toc106056"></a><a name="_Toc495478145"></a><a name="_Toc481589093"></a><a name="_Toc474142298"></a><a name="_Toc457490038"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">31.&#160;&#160; Minority interest</font></b></font><a name="XBRL_TS_982f0a6fc5f74d59a0207a8ba_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_981deccfd306453f8d495181f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown by groups of consolidated entities of the balance under the heading
&#8220;Minority interests (non-controlling interest)&#8221; of total equity in the
accompanying consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_981deccfd306453f8d495181f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non-Controlling
  Interests (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=63% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Colombia Group </font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">65</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Chile Group (*)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">399</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">377</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Banco
  Continental Group</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,167</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,059</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,059</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Banco Provincial
  Group </font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">97</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Banco Franc&#233;s
  Group</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">352</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">420</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">243</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Garanti Group</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,058</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,903</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,157</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other entities</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">64</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=63% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,764</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,979</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,064</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_FS_10e3f7af964c443ab88df58a0"></a><a name="XBRL_TS_92734e007cba41fc8617c939b"></a><a name="XBRL_TS_63b8d8b94fea428a9428a558f"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:8.0pt;">(*) &#160;See Note 3.</font></font><a name="XBRL_FS_10e3f7af964c443ab88df58a0_bclEnd"></a><a name="XBRL_TS_63b8d8b94fea428a9428a558f_bclEnd"></a><a name="XBRL_TS_92734e007cba41fc8617c939b_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_6fa6da83073743ac8aeec2bea"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">These
amounts are broken down by groups of consolidated entities under the heading
&#8220;Attributable to minority interests (non-controlling interest)&#8221; in the
accompanying consolidated income statements:</font></font><a name="XBRL_TS_6fa6da83073743ac8aeec2bea_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Profit attributable
  to Non-Controlling Interests (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.75pt;">
  <td width=63% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Colombia Group </font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Chile Group (*)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">51</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Banco
  Continental Group</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">227</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">208</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">193</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Banco Provincial
  Group </font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">BBVA Banco Franc&#233;s
  Group</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(18)</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">93</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Garanti Group</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">585</font></font></p>
  </td>
 <td nowrap width=13% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">883</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">917</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=63% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other entities</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=63% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">827</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,244</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,218</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_FS_43439a4fc3f24663908ffa0f2"></a><a name="XBRL_TS_90fa136418c848dca1c672705"></a><a name="XBRL_TS_f9b9d10310244e85a4e1eb7e4"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:8.0pt;">(*) &#160;See Note 3.</font></font><a name="XBRL_FS_43439a4fc3f24663908ffa0f2_bclEnd"></a><a name="XBRL_TS_90fa136418c848dca1c672705_bclEnd"></a><a name="XBRL_TS_f9b9d10310244e85a4e1eb7e4_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_0eb67b9cd558430bb0a0c0443"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Dividends
distributed to non-controlling interest of the Group during the year 2018 are:
Garanti Group &#8364;</font></font><a name="XBRL_CS_3ffc5c67b7404ed69e322a8aa"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">233</font></font><a name="XBRL_CS_3ffc5c67b7404ed69e322a8aa_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> million, BBVA Banco
Continental Group &#8364;<a name="XBRL_CS_fa51dbeb214e4070a85ea8840"></a>108<a name="XBRL_CS_fa51dbeb214e4070a85ea8840_bclEnd"></a> million, BBVA Chile Group
&#8364;<a name="XBRL_CS_9586453271644aa080fcf0f9d"></a>14<a name="XBRL_CS_9586453271644aa080fcf0f9d_bclEnd"></a> million, BBVA Banco
Franc&#233;s Group &#8364;<a name="XBRL_CS_d912337c83fe414489f2a9ddb"></a>13<a name="XBRL_CS_d912337c83fe414489f2a9ddb_bclEnd"></a> million and other Spanish
entities accounted for &#8364;<a name="XBRL_CS_926be18cf69645f79fe47ee6f"></a>10<a name="XBRL_CS_926be18cf69645f79fe47ee6f_bclEnd"></a> million.</font></font><a name="XBRL_TS_0eb67b9cd558430bb0a0c0443_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-215</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_498"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_2c1e6a67feb34688a1ff9d5dc"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">32. </font></b></font><a name="_Toc106057"></a><a name="_Toc505355965"></a><a name="_Toc495478146"></a><a name="_Toc481589094"></a><a name="_Toc474142299"></a><a name="_Toc457490039"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">&#160;&#160;Capital
base and capital management</font></b></font><a name="XBRL_TS_2c1e6a67feb34688a1ff9d5dc_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_6cbbc7bbf7404e2cb8fe57fe4"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;line-height:115%;">32.1&#160; Capital base</font></b></font><a name="XBRL_TS_6cbbc7bbf7404e2cb8fe57fe4_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_fbbc607c33fd4064bde9b7c03"></a><a name="XBRL_CS_7faf0e4c8d5548ecb1179d001"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and
2016, equity is calculated in accordance to the applicable regulation of each
period on minimum capital base requirements for Spanish credit institutions
&#8211;both as individual entities and as consolidated group&#8211; and how to calculate
them, as well as the various internal capital adequacy assessment processes
they should have in place and the information they should disclose to the
market.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The minimum capital base requirements established by the current
regulation are calculated according to the Group&#8217;s exposure to credit and
dilution risk, counterparty and liquidity risk relating to the trading
portfolio, exchange-rate risk and operational risk. In addition, the Group must
fulfill the risk concentration limits established in said regulation and the
internal corporate governance obligations.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">At the date of preparation of these consolidated financial
statements, BBVA has not received an official communication of the ECB about
the results of the </font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">SREP </font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">process which had been carried out during the
financial year 2018 and which will include requirements regarding the capital
ratio (both at individual and consolidated level) applicable to BBVA and its
Group as from the date indicated in that communication. As soon as this
communication will be available, BBVA will disclose it to the markets by means
of public relevant events.</font></font><a name="XBRL_CS_7faf0e4c8d5548ecb1179d001_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_e6b1229497354c7b9b11803a0"></a><a name="XBRL_CS_05b9b209b5324325957c7e029"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Taking into account fully
application of capital buffers since January 1, 2019 and considering last
capital requirement communicated from ECB, BBVA has to maintain since January
1, 2019&#160; i) a CET1 ratio of </font></font><a name="XBRL_CS_a55eb8e838094125aea354405"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">9.26%</font></font><a name="XBRL_CS_a55eb8e838094125aea354405_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> at consolidated level and ii)
a total capital ratio of <a name="XBRL_CS_ff55e7d72769413d9844f47b1"></a>12.76%<a name="XBRL_CS_ff55e7d72769413d9844f47b1_bclEnd"></a> at consolidated level</font></font><a name="XBRL_CS_05b9b209b5324325957c7e029_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. This total consolidated
capital ratio includes <a name="XBRL_CS_0f86abb3811b4fcd9349b8f4e"></a>i) the
minimum common equity tier 1 capital (CET1) requirement under Pillar 1 (4.5%);
ii) the additional tier 1 capital (AT1) requirement under Pillar 1 (1.5%)<a name="XBRL_CS_0f86abb3811b4fcd9349b8f4e_bclEnd"></a>; <a name="XBRL_CS_609b497e7c2f4b82a6b00bbbe"></a>iii) the tier 2 capital requirement
under Pillar 1 (2%)<a name="XBRL_CS_609b497e7c2f4b82a6b00bbbe_bclEnd"></a>;
<a name="XBRL_CS_c6557e35519644a7bc9308adc"></a>iv) the CET1 capital requirement
under Pillar 2 (1.5%)<a name="XBRL_CS_c6557e35519644a7bc9308adc_bclEnd"></a>;
<a name="XBRL_CS_9e7b341da89f4c499d4c367f6"></a>v) the capital conservation buffer
(2.5% of CET1)<a name="XBRL_CS_9e7b341da89f4c499d4c367f6_bclEnd"></a>; <a name="XBRL_CS_5b5f6e3eb5ec4952b9761bc6a"></a>vi) the Other Systemic Important
Institution buffer (OSII) (0.75% of CET1); and vii) the countercyclical capital
buffer (0.01% of CET1)<a name="XBRL_CS_5b5f6e3eb5ec4952b9761bc6a_bclEnd"></a>.</font></font><a name="XBRL_CS_e6b1229497354c7b9b11803a0_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Group&#8217;s bank capital in
accordance with the aforementioned applicable regulation, considering entities
scope required by the above regulation, as of December 31, 2018, 2017 and 2016
is shown below:</font></font><a name="XBRL_TS_fbbc607c33fd4064bde9b7c03_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.45pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Eligible capital
  resources (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:16.9pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2018 (*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;December 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Capital</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,267</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,267</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,218</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Share premium</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,992</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,992</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,992</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Retained earnings,
  revaluation reserves and other reserves</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22,963</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23,590</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21,805</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other equity
  instruments, net</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Treasury shares</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(296)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(96)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(48)</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Attributable to the
  parent company</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,324</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,519</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,475</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Attributable dividend</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(975)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,043)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,510)</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total equity</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54,325</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53,283</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50,985</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Accumulated other
  comprehensive income</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7,215)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6,939)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,622)</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Non-controlling
  interest</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,764</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,979</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,064</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Shareholders'
  equity</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52,874</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53,323</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55,428</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Intangible assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8,199)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6,627)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,675)</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Fin. treasury shares</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(27)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(48)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(82)</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Indirect treasury
  shares</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(108)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(134)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(51)</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Deductions</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8,334)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6,809)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,808)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Temporary CET 1
  adjustments</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(273)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(129)</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Capital gains from
  the Available-for-sale debt instruments portfolio</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(256)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(402)</font></i></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Capital gains from
  the Available-for-sale equity portfolio</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(17)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">273</font></i></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Differences from
  solvency and accounting level</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(176)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(189)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(120)</font></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">Equity not eligible
  at solvency level</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(176)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(462)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(249)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other
  adjustments and deductions</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4,053)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,711</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,001)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Common Equity
  Tier 1 (CET 1)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40,311</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42,341</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47,370</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">Additional Tier 1
  before Regulatory Adjustments</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,634</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,296</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,114</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">Total Regulatory
  Adjustments of Additional Tier 1</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,657)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3,401)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Tier 1</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">45,945</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46,980</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50,083</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.5pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Tier 2</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,754</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,798</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:7.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,810</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.45pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total Minimum
  equity required</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41,607</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40,370</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:8.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37,923</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_c25f9e69f68949e68def1bf44"></a><a name="XBRL_TS_42db5c8ff3a640c3ae7eb25ba"></a><a name="XBRL_TS_81245120bd1a460eb3cc391b6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Provisional data.</font></font><a name="XBRL_FS_c25f9e69f68949e68def1bf44_bclEnd"></a><a name="XBRL_TS_42db5c8ff3a640c3ae7eb25ba_bclEnd"></a><a name="XBRL_TS_81245120bd1a460eb3cc391b6_bclEnd"></a></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-216</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_499"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:.0001pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Capital Base </font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018 (*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Tier 1 (millions of
  euros) (a)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">45,945</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46,980</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">50,083</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Exposure (millions of
  euros) (b)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">705,406</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">700,443</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">747,216</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Leverage ratio
  (a)/(b) (percentage)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6.51%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6.71%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6.70%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_FS_fbc66557be3e4137ac068d1e4"></a><a name="XBRL_TS_bb388f83b1b4450fb84edfa5b"></a><a name="XBRL_TS_61c0f6bb88c6484c917fc5a88"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Provisional data</font></font><a name="XBRL_TS_61c0f6bb88c6484c917fc5a88_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">.</font></font><a name="XBRL_FS_fbc66557be3e4137ac068d1e4_bclEnd"></a><a name="XBRL_TS_bb388f83b1b4450fb84edfa5b_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:0cm;text-align:justify;text-indent:-21.3pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_f3daa3ffd120495092d4f3cd0"></a><a name="XBRL_CS_19aa8017540e434da10bfc6a3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018 Common
Equity Tier 1 (CET1) phased-in ratio stood at </font></font><a name="XBRL_CS_87013da34ec64baeb4dc2a051"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">11.6%</font></font><a name="XBRL_CS_87013da34ec64baeb4dc2a051_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> (in terms of fully loaded,
CET1 stood at 11.3%)</font></font><a name="XBRL_CS_19aa8017540e434da10bfc6a3_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">. Excluding
the effect of the phased-in calendar in minority interest and deductions that
goes from 80% in 2017 to 100% in 2018, and including the positive impact of the
sale of the stake in BBVA Chile (+50 bps), the CETI phased-in ratio has
increased by +48 bps. This increase is mainly explained by the generation of
profit, net of dividend payments and remunerations of AT1 instruments and
dividends received by the Bank, and the stability in the level of risk weighted
assets (RWA).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This CET1 phased-in ratio includes the impact of the initial
implementation of IFRS9. In this context, the European Commission and
Parliament have established temporary arrangements that are voluntary for the
institutions, adapting the impact of IFRS9 on capital ratios. BBVA has informed
the supervisory board its adherence to these arrangements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, transfer of the real estate business of BBVA in Spain
to Cerberus has no material impact on the ratios (see Note 3).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_CS_02b496f88955465899cd0c0dc"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">TIER1
phased-in ratio stood at </font></font><a name="XBRL_CS_883a9ab8dcd74df8abb800832"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">13.2%</font></font><a name="XBRL_CS_883a9ab8dcd74df8abb800832_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> as of December 31, 2018.
During the year the Group has computed two new issuances of contingent
convertible bonds (CoCos) as TIER1 instruments for US$1,000 million and &#8364;1,000
million, respectively. In addition, the Group has no longer includes a US$1,500
million issuance which was early redeemed in May 2018 and announced in January
2019 its intention to exercise the early redemption of an issuance of &#8364;1,500
million. <a name="XBRL_CS_22184c04e6f8494a9ab1ee544"></a>The net effect on TIER1
phased-in ratio was -15 bps<a name="XBRL_CS_22184c04e6f8494a9ab1ee544_bclEnd"></a>.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Regarding TIER2 ratio, in the third quarter the Group has received
authorization from the supervisor to include a subordinated issuance of US$300
million and no longer includes BBVA Chile subordinated instruments. As result
of the above mentioned effects, the total capital phased-in ratio stood at
15.7%.</font></font><a name="XBRL_CS_02b496f88955465899cd0c0dc_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, the Group has continued its program to meet the MREL
requirements by carrying two public senior non-preferred instruments by a total
amount of &#8364;2.5 billion. In terms of MREL (which stands for Minimum Requirement
for own funds and Eligible Liabilities), BBVA has to reach, by January 1, 2020,
an amount of own funds and eligible liabilities equal to 15.08% of the total
liabilities and own funds of its resolution group (BBVA, S.A. and its
subsidiaries from the same European resolution group) as of December 31, 2016.
This MREL requirement would be equal to 28.04% in terms of risk-weighted assets
of the resolution group as of December 31, 2016. The Group believes that it is
currently in line with this requirement.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Risk-weighted assets (RWA) have decreased during the year, largely
due to the sale of BBVA Chile and the depreciation of currencies against euro.
The Group has performed three securitizations during the year: a traditional
one in June of an automobile loan portfolio of consumer finance amounting to &#8364;800
million, and two synthetic ones in March and December, on which the European
Investment Fund (EIF, a subsidiary of the European Investment Bank) provided a
financial guarantee. These three securitizations have produced a positive
impact on capital of &#8364;971 million via RWA release. Additionally, during the
first half of the year, BBVA has received an authorization from the ECB to
update the calculation of RWA on structural FX risk under the standard model.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-217</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_500"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A reconciliation of the
consolidated accounting and regulatory perimeters as of December 31st 2018 is
presented below (provisional data):</font></font><a name="XBRL_TS_f3daa3ffd120495092d4f3cd0_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Public balance sheet
  headings (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:42.75pt;">
  <td width=55% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Public balance sheet</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Insurance companies and real estate companies (1)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Jointly-controlled entities and other adjustments (2)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Regulatory balance sheet</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=55% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Cash, cash balances
  at central banks and other demand deposits</font></font></p>
  </td>
 <td width=12% style="border:none;height:22.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58,196</font></font></p>
  </td>
 <td width=11% style="border:none;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td width=11% style="border:none;height:22.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">103</font></font></p>
  </td>
 <td width=11% style="border:none;height:22.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58,296</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=55% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90,117</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,277</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">91,394</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td valign=bottom width=55% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non- trading
  financial assets mandatorily at fair value through profit or loss</font></font></p>
  </td>
 <td width=12% style="height:27.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,135</font></font></p>
  </td>
 <td width=11% style="height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,768)</font></font></p>
  </td>
 <td width=11% style="height:27.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:27.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,367</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=55% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets
  designated at fair value through profit or loss</font></font></p>
  </td>
 <td width=12% style="height:22.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,313</font></font></p>
  </td>
 <td width=11% style="height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,313)</font></font></p>
  </td>
 <td width=11% style="height:22.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:22.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=55% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets
  designated at fair value through other comprehensive income</font></font></p>
  </td>
 <td width=12% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56,337</font></font></p>
  </td>
 <td width=11% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(14,318)</font></font></p>
  </td>
 <td width=11% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,019</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=55% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  amortized cost</font></font></p>
  </td>
 <td width=12% style="height:13.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">419,660</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(6,279)</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">593</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">413,974</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=55% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Hedging derivatives</font></font></p>
  </td>
 <td width=12% style="height:11.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,892</font></font></p>
  </td>
 <td width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(87)</font></font></p>
  </td>
 <td width=11% style="height:11.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:11.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,805</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=55% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Fair value changes of
  the hedged items in portfolio hedges of interest rate risk</font></font></p>
  </td>
 <td width=12% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 <td width=11% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:23.25pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=55% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Investments in
  entities accounted for using the equity method </font></font></p>
  </td>
 <td width=12% style="height:19.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,578</font></font></p>
  </td>
 <td width=11% style="height:19.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,587</font></font></p>
  </td>
 <td width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(80)</font></font></p>
  </td>
 <td width=11% style="height:19.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,085</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=55% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non- current assets
  and disposal groups held for sale</font></font></p>
  </td>
 <td width=12% style="height:16.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,001</font></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,001</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=55% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39,481</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">715</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,199</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=55% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total assets</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">676,689</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(20,191)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">621</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">657,119</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:0cm;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_f93fd2e92ef645e9bacf250b7"></a><a name="XBRL_FS_03a24f06ff8746a6b21d1f260"></a><a name="XBRL_TS_bb907a30da7644f1a8a9d720f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; Correspond to balances of entities fully consolidated in the
public balance sheet but consolidated by the equity method in the regulatory
balance sheet.</font></font><a name="XBRL_FS_03a24f06ff8746a6b21d1f260_bclEnd"></a><a name="XBRL_TS_bb907a30da7644f1a8a9d720f_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:0cm;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_7014fc6f6b5d4b90a45237793"></a><a name="XBRL_TS_3c0c7f539aa644b3b58800dc4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(2)&#160; Correspond to intragroup adjustments and other consolidation
adjustments.</font></font><a name="XBRL_FS_7014fc6f6b5d4b90a45237793_bclEnd"></a><a name="XBRL_TS_3c0c7f539aa644b3b58800dc4_bclEnd"></a><a name="XBRL_TS_f93fd2e92ef645e9bacf250b7_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:0cm;text-align:justify;text-indent:-14.2pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_94d3f076518e4367904af3eed"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;line-height:115%;">32.2&#160; Capital management</font></b></font><a name="XBRL_TS_94d3f076518e4367904af3eed_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_1a08bbb344984c29ab50bd347"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Capital
management in the BBVA Group has a twofold aim: </font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:4.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Maintain
a level of capitalization according to the business objectives in all countries
in which it operates and, simultaneously,</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:4.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Maximize
the return on shareholders&#8217; funds through the efficient allocation of capital
to the different units, a good management of the balance sheet and appropriate
use of the various instruments forming the basis of the Group&#8217;s equity: shares,
preferred securities and subordinate debt.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This capital management is carried out determining the capital
base and the solvency ratios established by the prudential and minimum capital
requirements also have to be met for the entities subject to prudential
supervision in each country.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The current regulation allows each entity to apply its own
internal ratings-based (IRB) approach to risk assessment and capital
management, subject to Bank of Spain approval. The BBVA Group carries out an
integrated management of these risks in accordance with its internal policies
and its internal capital estimation model has received the Bank of Spain&#8217;s
approval for certain portfolios (see Note 7).</font></font><a name="XBRL_TS_1a08bbb344984c29ab50bd347_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-218</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_501"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc376949991"></a><a name="_Toc347755870"></a><a name="_Toc331260332"></a><a name="_Toc299032891"></a><a name="_Toc299031552"></a><a name="_Toc299029470"></a><a name="_Toc298431734"></a><a name="XBRL_TS_6ff76cfbb54046bd8e19d455a"></a><a name="_Toc106058"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">33.&#160;&#160; Commitments and
guarantees given</font></b></font><a name="XBRL_TS_6ff76cfbb54046bd8e19d455a_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_c1889d28d5514e3288bed7b27"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
these headings in the accompanying consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_c1889d28d5514e3288bed7b27_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loan commitments,
  financial guarantees and other commitments (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loan commitments
  given</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">118,959</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">94,268</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">107,254</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">of which:
  defaulted</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">247</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">537</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">411</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central banks</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General
  governments</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,318</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,198</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,354</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit
  institutions</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,635</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">946</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,209</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other
  financial corporations</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,664</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,795</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,155</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-financial
  corporations</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58,405</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58,133</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">71,710</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Households</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,936</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,195</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,824</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Financial
  guarantees given (*)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,454</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,545</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,267</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">of which:
  defaulted</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">332</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">278</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">278</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central banks</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General
  governments</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">159</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">248</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">103</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit
  institutions</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,274</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,158</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,553</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other
  financial corporations</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">730</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,105</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">722</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-financial
  corporations</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,970</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,518</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,354</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Households</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">319</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">516</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">534</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other commitments and
  guarantees given </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.2</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,098</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">45,738</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,592</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">of which:
  defaulted</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">408</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">461</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">402</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central banks</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General
  governments</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">248</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">227</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">372</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit
  institutions</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,875</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,330</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,880</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other
  financial corporations</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,990</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,820</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,892</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-financial
  corporations</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,723</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,992</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,297</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Households</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">261</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">362</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">138</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total Loan
  commitments and financial guarantees</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">170,511</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">156,551</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">168,113</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_3c424082b0634ff0a157fb214"></a><a name="XBRL_TS_a799821517a5445a8d67e541c"></a><a name="XBRL_TS_a48594c58042448387c68b155"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Non performing financial guarantees given amounted to &#8364;</font></font><a name="XBRL_CS_aec9913b630648479189bb883"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">740</font></font><a name="XBRL_CS_aec9913b630648479189bb883_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">, &#8364;<a name="XBRL_CS_767a84caea774b1ca17b59b6c"></a>739<a name="XBRL_CS_767a84caea774b1ca17b59b6c_bclEnd"></a> and &#8364;<a name="XBRL_CS_6f69f8a0de494687a8bbc9897"></a>680<a name="XBRL_CS_6f69f8a0de494687a8bbc9897_bclEnd"></a> million, respectively, as
of December 31, 2018, December 31, 2017, and December 31, 2016, respectively.</font></font><a name="XBRL_FS_3c424082b0634ff0a157fb214_bclEnd"></a><a name="XBRL_TS_a48594c58042448387c68b155_bclEnd"></a><a name="XBRL_TS_a799821517a5445a8d67e541c_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_10757580a5b4403db5b842982"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, the provisions for loan commitments given, financial guarantees
given and other commitments and guarantees given, recorded in the consolidated
balance sheet amounted &#8364;</font></font><a name="XBRL_CS_e75cacdac5e64d03ad624c4d7"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">338</font></font><a name="XBRL_CS_e75cacdac5e64d03ad624c4d7_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> million, &#8364;<a name="XBRL_CS_531070d0b83944f9bcfdd528f"></a>252<a name="XBRL_CS_531070d0b83944f9bcfdd528f_bclEnd"></a> million and &#8364;<a name="XBRL_CS_0e07011088dc4caea32fd248e"></a>45<a name="XBRL_CS_0e07011088dc4caea32fd248e_bclEnd"></a> million, respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Since a significant portion of the amounts above will expire
without any payment being made by the consolidated entities, the aggregate
balance of these commitments cannot be considered the actual future requirement
for financing or liquidity to be provided by the BBVA Group to third parties.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="Nota_35"></a><a name="Nota_35_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the
years 2018, 2017 and 2016, no issuance of debt securities carried out by
associates of the BBVA Group, joint venture entities or non-Group entities have
been guaranteed.</font></font><a name="XBRL_TS_10757580a5b4403db5b842982_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc376949993"></a><a name="_Toc347755872"></a><a name="_Toc331260334"></a><a name="_Toc299032893"></a><a name="_Toc299031554"></a><a name="_Toc299029472"></a><a name="_Toc298431736"></a><a name="XBRL_TS_36cc2d91c8ef48cc842b71d7e"></a><a name="_Toc106059"></a><a name="_Toc495478148"></a><a name="_Toc481589096"></a><a name="_Toc474142303"></a><a name="_Toc457490041"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">34.&#160;&#160;
Other contingent assets and liabilities</font></b></font><a name="XBRL_TS_36cc2d91c8ef48cc842b71d7e_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_26ae96e8f57e44c3886e656cb"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, 2017 and 2016 there were no material contingent assets or
liabilities other than those disclosed in the accompanying notes to the
consolidated financial statements.</font></font><a name="XBRL_TS_26ae96e8f57e44c3886e656cb_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-219</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_01913a5bc4384db3a59d2a0d7"></a><a name="_Toc106060"></a><a name="_Toc505355968"></a><a name="_Toc495478149"></a><a name="_Toc481589097"></a><a name="_Toc474142304"></a><a name="_Toc457490042"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">35. Purchase and sale
commitments and future payment obligations</font></b></font><a name="XBRL_TS_01913a5bc4384db3a59d2a0d7_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_5a2b5839dc29478780e449407"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of purchase and sale commitments of the BBVA Group as of December 31,
2018, 2017 and 2016 is as follows:</font></font><a name="XBRL_TS_5a2b5839dc29478780e449407_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Purchase and Sale
  Commitments (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Financial instruments
  sold with repurchase commitments</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,993</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,077</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46,562</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=56% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial liabilities
  held for trading</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,815</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,511</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit Institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,839</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,466</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial liabilities
  at amortized cost</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,178</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,077</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46,562</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">375</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,155</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,649</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit Institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,593</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,843</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,421</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,209</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,079</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,491</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Financial instruments
  purchased with resale commitments</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,034</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,368</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,921</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=56% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,262</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,163</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit Institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,305</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,794</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  amortized cost </font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">772</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,368</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,921</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">305</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">81</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit Institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">478</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,861</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,561</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=56% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">294</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,202</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,279</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_ffe8799f0c6d4475859f3f75a"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">A breakdown of the maturity of
other payment obligations, not included in previous notes, due after December
31, 2018 is provided below:</font></font><a name="XBRL_TS_ffe8799f0c6d4475859f3f75a_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.25pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Maturity of Future
  Payment Obligations (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Up to 1 Year</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 to 3 Years</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 to 5 Years</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 5 Years</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=45% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Finance leases</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=45% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Operating leases</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">251</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">253</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">554</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,879</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,937</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=45% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Purchase commitments</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=45% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Technology and
  systems projects</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other projects</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=45% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">279</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">253</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">554</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,879</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,965</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-220</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_503"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_2e54f96c5ecd4181ad6f6b133"></a><a name="_Toc106061"></a><a name="_Toc505355969"></a><a name="_Toc495478150"></a><a name="_Toc481589098"></a><a name="_Toc474142305"></a><a name="_Toc457490043"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">36.&#160;&#160; Transactions on behalf
of third parties</font></b></font><a name="XBRL_TS_2e54f96c5ecd4181ad6f6b133_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_745c356b04c74c459e49b6121"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and
2016 the details of the most transactions on behalf of third parties are as
follows:</font></font><a name="XBRL_TS_745c356b04c74c459e49b6121_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:10.5pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Transactions on
  Behalf of Third Parties (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial instruments
  entrusted to BBVA by third parties</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">628,417</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">624,822</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">637,761</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=67% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Conditional bills and
  other securities received for collection</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,484</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,775</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,054</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Securities lending</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,866</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,485</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,968</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">646,768</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">645,081</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">657,783</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_24436a8561b24c6393e7aa811"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and
2016 the customer funds managed by the BBVA Group are as follows:</font></font><a name="XBRL_TS_24436a8561b24c6393e7aa811_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:10.5pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Customer Funds by
  Type (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Asset management by
  type of customer (*):</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Collective investment</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">61,393</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">60,939</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55,037</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=67% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Pension funds</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33,807</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33,985</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33,418</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=67% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Customer portfolios
  managed </font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,953</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,901</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,805</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=67% style="height:10.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=67% style="height:10.5pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">Portfolios managed
  on a discretionary basis</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,657</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,628</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,165</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other resources</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,949</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,081</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,831</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Customer resources
  distributed but not managed by type of product:</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Collective investment</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,468</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,407</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,695</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=67% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Insurance products</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">131,603</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">138,347</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">135,824</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_FS_47a02fc603024977921c5a277"></a><a name="XBRL_TS_155e9f696c42490d82758a906"></a><a name="XBRL_TS_182c8764ec864d8aa2813fc87"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Excludes balances from securitization funds.</font></font><a name="XBRL_FS_47a02fc603024977921c5a277_bclEnd"></a><a name="XBRL_TS_155e9f696c42490d82758a906_bclEnd"></a><a name="XBRL_TS_182c8764ec864d8aa2813fc87_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc376949999"></a><a name="_Toc347755875"></a><a name="_Toc331260337"></a><a name="_Toc299032896"></a><a name="_Toc299031557"></a><a name="_Toc299029476"></a><a name="_Toc298431739"></a><a name="XBRL_TS_9199d43a62b9444d8c4ac087e"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-221</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_504"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">37. <a name="_Toc106062"></a>&#160;&#160;Net
interest income</font></b></font><a name="XBRL_TS_9199d43a62b9444d8c4ac087e_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_4724647257d54314a31256c4e"></a><a name="_Toc106063"></a><a name="_Toc474142307"></a><a name="_Toc376972403"></a><a name="_Toc376949995"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">37.1&#160;
Interest income</font></b></font><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;"> and other income</font></b></font><a name="XBRL_TS_4724647257d54314a31256c4e_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_62f7199f76334feba973cf83b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the interest income and other income recognized in the
accompanying consolidated income</font><font color=navy face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">statement is
as follows:</font></font><a name="XBRL_TS_62f7199f76334feba973cf83b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.45pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Interest income and
  other income. Breakdown by Origin (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=57% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central Banks</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">482</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">406</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">229</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">458</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">410</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">217</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  customers</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,831</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,699</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,608</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,395</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,809</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,128</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Held for trading</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,552</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,263</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,014</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other portfolios</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,843</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,546</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,114</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Adjustments of income
  as a result of hedging transactions </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(201)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">427</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(385)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Cash flow hedges
  (effective portion)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fair value hedges</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(198)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">412</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(397)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=57% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Insurance activity</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,142</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,058</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,219</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=57% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other income</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">722</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">487</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">692</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55.2</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,831</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,296</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,708</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=57% style="border:none;height:20.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:20.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:20.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:20.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:20.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=57% style="height:21.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  fair value through other comprehensive income </font></i></font></p>
  </td>
 <td nowrap width=10% style="height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,306</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,962</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=57% style="height:20.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  amortized cost</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:20.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,668</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,803</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,578</font></i></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=57% style="height:17.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,856</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,531</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,130</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_e8de937fe2d74bf7a0c4620dd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amounts recognized in
consolidated equity in connection with hedging derivatives and the amounts
derecognized from consolidated equity and taken to the consolidated income
statement during the years are given in the accompanying &#8220;Consolidated
statements of recognized income and expenses&#8221;.</font></font><a name="XBRL_TS_e8de937fe2d74bf7a0c4620dd_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_b78c5fb062ec4ef9b3b823ac8"></a><a name="_Toc106064"></a><a name="_Toc474142308"></a><a name="_Toc376972404"></a><a name="_Toc376949996"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">37.2&#160; Interest expense</font></b></font><a name="XBRL_TS_b78c5fb062ec4ef9b3b823ac8_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_3fdce086211b4383a3d5d4e69"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under this heading in the accompanying consolidated
income statements is as follows:</font></font><a name="XBRL_TS_3fdce086211b4383a3d5d4e69_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Interest Expenses.
  Breakdown by Origin (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">80</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">123</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">192</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits from credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,023</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,880</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,367</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Customers deposits</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,523</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,814</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,766</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt certificates</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,936</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,930</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,323</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Adjustments of
  expenses as a result of hedging transactions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(323)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">665</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(574)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Cash flow hedges
  (effective portion)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fair value hedges</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(368)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">627</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(616)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Cost attributable to
  pension funds</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">119</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">125</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">96</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Insurance activity</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">607</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">682</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">846</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other expenses</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,274</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">316</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">634</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,239</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,537</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,648</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="_Toc474142309"></a><a name="_Toc376972405"></a><a name="_Toc376949997"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_dc80c056b21847bc8e2c3b18c"></a><a name="_Toc106065"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-222</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_505"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">37.3&#160; Average return on investments and average borrowing cost</font></b></font><a name="XBRL_TS_dc80c056b21847bc8e2c3b18c_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_a87bc25c20b04e9f80303c778"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The detail
of the average return on investments in the years ended December 31, 2018, 2017
and 2016 is as follows:</font></font><a name="XBRL_TS_a87bc25c20b04e9f80303c778_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=10 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Assets (Millions of
  euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=24% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:39.0pt;">
  <td width=24% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average Balances</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest income</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average Interest Rates (%)</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average Balances</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest income</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average Interest Rates (%)</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average Balances</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest income</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average Interest Rates (%)</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=24% style="border:none;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Cash and balances
  with central banks and other demand deposits</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">42,730 </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">135 </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.32 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">33,917 </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">83 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.25 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26,209 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.04 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Securities portfolio
  and derivatives </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">179,672 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,707 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.18 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">177,164 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,724 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2.67 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">202,388 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,072 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2.51 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loans and advances to
  central banks</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,518 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">258 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4.67 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10,945 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">258 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2.36 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15,326 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">229 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.50 </font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td valign=bottom width=24% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loans and advances to
  credit institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">25,634 </font></font></p>
  </td>
 <td nowrap width=9% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">657 </font></font></p>
  </td>
 <td nowrap width=9% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2.56 </font></font></p>
  </td>
 <td nowrap width=8% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26,420 </font></font></p>
  </td>
 <td nowrap width=9% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">485 </font></font></p>
  </td>
 <td nowrap width=8% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.83 </font></font></p>
  </td>
 <td nowrap width=8% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28,078 </font></font></p>
  </td>
 <td nowrap width=8% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">218 </font></font></p>
  </td>
 <td nowrap width=8% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.78 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loans and advances to
  customers</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">378,996 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22,804 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.02 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">407,153 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23,261 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5.71 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">410,895 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21,853 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5.32 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Euros</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">181,668 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,381 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.86 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">196,893 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,449 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.75 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">201,967 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,750 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.86 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Foreign currency</font></font></p>
  </td>
 <td nowrap width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">197,328 </font></font></p>
  </td>
 <td nowrap width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19,423 </font></font></p>
  </td>
 <td nowrap width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9.84 </font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">210,261 </font></font></p>
  </td>
 <td nowrap width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19,812 </font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9.42 </font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">208,928 </font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18,104 </font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8.67 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other assets</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46,343 </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">270 </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.58 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">48,872 </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">485 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.99 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">52,748 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">325 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.62 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=24% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">678,893</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">29,831</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4.39</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">704,471</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">29,296</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4.16</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">735,645</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27,708</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.77</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_cd9a078a57fd439d8c4766b17"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The average
borrowing cost in the years ended December 31, 2018, 2017 and 2016 is as
follows:</font></font><a name="XBRL_TS_cd9a078a57fd439d8c4766b17_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=10 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Liabilities (Millions
  of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=24% style="border:none;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td width=24% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average Balances</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest expenses</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average Interest Rates (%)</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average Balances</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest expenses</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average Interest Rates (%)</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average Balances</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest expenses</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average Interest Rates (%)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=24% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Deposits from central
  banks and credit institutions</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">65,044 </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,192 </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.37 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">90,619 </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,212 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2.44 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">101,975 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,866 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.83 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">370,078 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,559 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.77 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">392,057 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,007 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.79 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">398,851 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,944 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.49 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160; Euros</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">178,370 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">337 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.19 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">186,261 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">461 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.25 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">195,310 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">766 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.39 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160; Foreign currency</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">191,709 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,222 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.25 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">205,796 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,546 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.18 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">203,541 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,178 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2.54 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Debt certificates</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">75,927 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,753 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2.31 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">84,221 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,631 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.94 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">89,876 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,738 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.93 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other liabilities</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">115,638 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,735 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.50 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">82,699 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">687 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.83 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">89,328 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,101 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.23 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Equity</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">52,206 </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">54,874 </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">55,616 </font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=24% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">678,893</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12,239</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.80</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">704,471</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11,537</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.64</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">735,645</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10,648</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.45</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_c504ae33a1894553b35885d3a"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-223</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_506"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The change in the balance under the headings &#8220;Interest income and
other income&#8221; and &#8220;Interest expense&#8221; in the accompanying consolidated income
statements is the result of exchange rate effect, changing prices (price
effect) and changing volume of activity (volume effect), as can be seen below:</font></font><a name="XBRL_TS_c504ae33a1894553b35885d3a_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Interest Income and
  Expenses : Change in the Balance (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=36% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 width=33% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018 / 2017</font></b></font></p>
  </td>
 <td colspan=3 width=31% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017 / 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=36% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Volume Effect (1)</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Price </font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Effect&#160; (2)</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total Effect</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Volume Effect (1)</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Price </font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Effect&#160; (2)</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total Effect</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=36% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Cash and balances
  with central banks and other demand deposits</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">51 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">71 </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">74 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=36% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Securities portfolio
  and derivatives</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">916 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">983 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(632)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">285 </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(347)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=36% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  Central Banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(128)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">128 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(66)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">94 </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=36% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(14)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">187 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">172 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(13)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">279 </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">266 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=36% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  customers</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,609)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,152 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(456)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(199)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,606 </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,408 </font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=36% style="height:9.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&#160;Euros&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(267)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">199 </font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(68)</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(94)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(206)</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(301)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=36% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&#160;Foreign currencies</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,219)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">830 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(389)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">115 </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,593 </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,708 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=36% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(190)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(215)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(24)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">184 </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">160 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=36% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest income</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">535 </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,588 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=36% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Deposits from central
  banks and credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(624)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">604 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(208)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">554 </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">346 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=36% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Customer deposits </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(393)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(55)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(448)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(101)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,164 </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,063 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=36% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&#160;Euros&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(104)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(124)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(35)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(269)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(305)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=36% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&#160;Foreign currencies</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(448)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">124 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(324)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">57 </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,311 </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,368 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=36% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities
  issued</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(161)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">282 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">122 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(109)</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3 </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(106)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=36% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">274 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">774 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,048 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(82)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(332)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(414)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=36% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest
  expenses</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">702 </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:silver;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">889 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=36% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Net Interest
  Income</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(167)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">699 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_0f4d55cf58d248ceb6c22ebca"></a><a name="XBRL_FS_33011f0a110242bcbe7e5b6ec"></a><a name="XBRL_TS_aa227a4de4864aa7ac82f8b3e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; The volume effect is calculated as the result of the interest
rate of the initial period multiplied by the difference between the average
balances of both periods.</font></font><a name="XBRL_FS_33011f0a110242bcbe7e5b6ec_bclEnd"></a><a name="XBRL_TS_aa227a4de4864aa7ac82f8b3e_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_5c6d7c7b0396414da268f156a"></a><a name="XBRL_TS_dcac4fcd713847248b554f3d7"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(2)&#160; The price effect is calculated as the result of the average
balance of the last period multiplied by the difference between the interest
rates of both periods.</font></font><a name="XBRL_FS_5c6d7c7b0396414da268f156a_bclEnd"></a><a name="XBRL_TS_0f4d55cf58d248ceb6c22ebca_bclEnd"></a><a name="XBRL_TS_dcac4fcd713847248b554f3d7_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_c1472ec8dac44bbb85243208f"></a><a name="_Toc106066"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">38.&#160;&#160;
Dividend income</font></b></font><a name="XBRL_TS_c1472ec8dac44bbb85243208f_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_21b329fcba38479ca66a612be"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
balances for this heading in the accompanying consolidated income statements
correspond to dividends on shares and equity instruments other than those from
shares in entities accounted for using the equity method (see </font></font><a href="#Nota_41"><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;text-decoration:none;">Note 3</font></font></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">9), as can
be seen in the breakdown below:</font></font><a name="XBRL_TS_21b329fcba38479ca66a612be_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.45pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Dividend Income
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Dividends from:</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=67% style="height:21.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Financial assets
  held for trading and financial assets at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">145</font></font></p>
  </td>
 <td nowrap width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">161</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">138</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">188</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">307</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">157</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">334</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">467</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_3c19d6e6e0514fcc84d1878f0"></a><a name="_Toc106067"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">39.&#160;
Share of profit or loss of entities accounted for using the equity method</font></b></font><a name="XBRL_TS_3c19d6e6e0514fcc84d1878f0_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_bcd07f2b28fd4c698b1751e95"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Net income from &#8220;Investments in
Entities Accounted for Using the Equity Method&#8221; resulted in a negative impact
of &#8364;7 million as of December 31, 2018, compared with the positive impact of &#8364;4&#160;
and &#8364;25 million recorded as of December 31, 2017 and 2016, respectively.</font></font><a name="XBRL_TS_bcd07f2b28fd4c698b1751e95_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_219a7aec1fea4e76a78948b63"></a><a name="_Toc106068"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-224</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_507"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">40.&#160;&#160; Fee and commission income and expense</font></b></font><a name="XBRL_TS_219a7aec1fea4e76a78948b63_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_f46a8b908d7843efa17d361f5"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under these heading in the accompanying consolidated
income statements is as follows:</font></font><a name="XBRL_TS_f46a8b908d7843efa17d361f5_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Fee and Commission
  Income (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Bills receivables</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">52</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Demand accounts</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">451</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">507</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">469</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit and debit
  cards</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,900</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,834</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,679</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Checks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">194</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">212</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">207</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Transfers and other
  payment orders</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">605</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">601</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">578</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Insurance product
  commissions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">171</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">192</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">178</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Commitment fees</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">223</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">231</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">237</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Contingent risks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">390</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">396</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">406</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Asset Management</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,023</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">923</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">839</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Securities fees</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">325</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">385</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">335</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Custody securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">122</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">122</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">122</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other fees and
  commissions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">689</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">700</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">701</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,132</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,150</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,804</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:left;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p align=left style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:left;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_0d32e01903e14c08ac71c8b27"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of fee and commission expense under these heading in the accompanying
consolidated income statements is as follows:</font></font><a name="XBRL_TS_0d32e01903e14c08ac71c8b27_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Fee and Commission
  Expense (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit and debit
  cards</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,502</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,458</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,334</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Transfers and other
  payment orders</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">96</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">102</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">102</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Commissions for
  selling insurance</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">60</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other fees and
  commissions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">607</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">610</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">587</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,253</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,229</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,086</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p align=left style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:left;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_19d11d1ee5304a58b9545a41c"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-225</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_508"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">41.&#160;
Gains (losses) on financial assets and liabilities, net and Exchange
differences</font></b></font><a name="XBRL_TS_19d11d1ee5304a58b9545a41c_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_5df2f5ac65fc4532a621ff396"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
this heading, by source of the related items, in the accompanying consolidated
income statement is as follows:</font></font><a name="XBRL_TS_5df2f5ac65fc4532a621ff396_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gains (losses) on
  financial assets and liabilities and exchange differences: Breakdown by
  Heading of the Consolidated Income Statements (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=64% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td width=64% style="border:none;height:20.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gains or losses on
  derecognition of financial assets and liabilities not measured at fair value
  through profit or loss, net</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">216</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">985</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,375</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=64% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  amortized cost</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">51</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">133</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">95</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=64% style="height:14.25pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">Other financial assets
  and liabilities </font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">164</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">852</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,281</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=64% style="height:21.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gains or losses on
  financial assets and liabilities held for trading, net</font></font></p>
  </td>
 <td nowrap width=12% style="height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">707</font></font></p>
  </td>
 <td nowrap width=12% style="height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">218</font></font></p>
  </td>
 <td nowrap width=12% style="height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">248</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=64% style="height:21.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">Reclassification of
  financial assets from fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=12% style="height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=64% style="height:21.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">Reclassification of
  financial assets from amortized cost</font></font></p>
  </td>
 <td nowrap width=12% style="height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=64% style="height:21.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other gains or (-)
  losses</font></font></p>
  </td>
 <td nowrap width=12% style="height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">707</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:36.75pt;">
  <td width=64% style="height:36.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gains (losses) on
  non-trading financial assets mandatorily at fair value through profit or
  loss, net</font></font></p>
  </td>
 <td nowrap width=12% style="height:36.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">96</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:36.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:36.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=64% style="height:21.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">Reclassification of
  financial assets from fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=12% style="height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=64% style="height:21.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">Reclassification of
  financial assets from amortized cost</font></font></p>
  </td>
 <td nowrap width=12% style="height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=64% style="height:21.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other gains or (-)
  losses</font></font></p>
  </td>
 <td nowrap width=12% style="height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">96</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td width=64% style="height:20.45pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gains or losses on
  financial assets and liabilities designated at fair value through profit or
  loss, net</font></font></p>
  </td>
 <td nowrap width=12% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">143</font></font></p>
  </td>
 <td nowrap width=12% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(56)</font></font></p>
  </td>
 <td nowrap width=12% style="height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">114</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=64% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gains or losses from
  hedge accounting, net </font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">72</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(209)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(76)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=64% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Subtotal Gains or
  (losses) on financial assets and liabilities</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,234</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">938</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,661</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=64% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Exchange Differences</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,030</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">472</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=64% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,223</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,968</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,133</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_c914850fe00943f586366354e"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-226</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_509"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance (excluding exchange rate differences) under this
heading in the accompanying income statements by the nature of financial
instruments is as follows:</font></font><a name="XBRL_TS_c914850fe00943f586366354e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gains (losses) on
  financial assets and liabilities: Breakdown by nature of the Financial
  Instrument (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt instruments</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">354</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">545</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">906</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(253)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">845</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">459</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  customers</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(172)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">97</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">65</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Trading derivatives
  and hedge accounting</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">927</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(470)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">109</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">240</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(96)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">137</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,233</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">938</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,661</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_f10d978006294efcb6dc06bc8"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance of the
impact of the derivatives (trading and hedging) under this heading in the
accompanying consolidated income statements is as follows:</font></font><a name="XBRL_TS_f10d978006294efcb6dc06bc8_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Derivatives - Hedge
  accounting (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Interest rate
  agreements</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">165</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">431</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Securities agreements</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">294</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(139)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">86</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Commodity agreements</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">99</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(29)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit derivative
  agreements</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(109)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(564)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(118)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Foreign-exchange
  agreements</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">606</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">315</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">186</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other agreements</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(24)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(137)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(371)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">856</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(261)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">185</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Hedging
  Derivatives Ineffectiveness</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=67% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fair value hedges</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(177)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(76)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Hedging derivative</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(150)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(236)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(330)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Hedged item</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">237</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">59</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">254</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Cash flow hedges</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(32)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">72</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(209)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(76)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">927</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(470)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">109</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_15bebe4843a64e50aad67277e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, in the years ended
December 31, 2018, 2017 and 2016, under the heading &#8220;Gains or losses on
financial assets and liabilities held for trading, net&#8221; of the consolidated
income statement, net amounts of negative &#8364;113 million, positive &#8364;235 million
and positive &#8364;151 million, respectively, were recognized for transactions with
foreign exchange trading derivatives.</font></font><a name="XBRL_TS_15bebe4843a64e50aad67277e_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_d45cef3d083c42fc8f949419c"></a><a name="_Toc106070"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-227</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_510"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">42.&#160;&#160; Other operating income and expense</font></b></font><a name="XBRL_TS_d45cef3d083c42fc8f949419c_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_ed6d16f9b42446ddb8fd7cf35"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under the heading &#8220;Other operating income&#8221; in the
accompanying consolidated income statements is as follows:</font></font><a name="_Toc376950008"></a><a name="_Toc347755881"></a><a name="_Toc331260343"></a><a name="_Toc299032902"></a><a name="_Toc299031563"></a><a name="_Toc299029483"></a><a name="_Toc298431745"></a><a name="XBRL_TS_ed6d16f9b42446ddb8fd7cf35_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.6pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other operating
  income (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:42.75pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=67% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gains from sales of
  non-financial services</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">458</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,109</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">882</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=67% style="height:15.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:
  Real estate</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">283</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">884</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">588</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=67% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other </font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">491</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">330</font></font></p>
  </td>
 <td nowrap width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">390</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: net
  profit from building leases</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">61</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">76</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">949</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,439</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,272</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_40d4ac7639ef4944be8b145d3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
the heading &#8220;Other operating expense&#8221; in the accompanying consolidated income
statements is as follows:</font></font><a name="XBRL_TS_40d4ac7639ef4944be8b145d3_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other operating
  expense (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=67% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Change in inventories</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">292</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">886</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">617</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of Which:
  Real estate</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">248</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">816</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">511</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,808</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,337</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,511</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,101</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,223</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,128</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p align=left style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:left;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_aaaf9694fccf4278b1d15f4a9"></a><a name="_Toc106071"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-228</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_511"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;text-indent:-35.45pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">43.
Income and expense from insurance and reinsurance contracts</font></b></font><a name="XBRL_TS_aaaf9694fccf4278b1d15f4a9_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_bb059767182d45cab47731a58"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The detail of the headings &#8220;Income
and expense from insurance and reinsurance contracts&#8221; in the accompanying
consolidated income statements is as follows:</font></font><a name="_Toc457490051"></a><a name="XBRL_TS_bb059767182d45cab47731a58_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other operating
  income and expense on insurance and reinsurance contracts (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td valign=bottom width=67% style="border:none;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Income on insurance
  and reinsurance contracts</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,949</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,342</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,652</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Expenses on insurance
  and reinsurance contracts</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,894)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,272)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,545)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,055</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,069</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,107</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_0018caf825784152bc2fb1fa8"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The table below shows the
contribution of each insurance product to the Group&#180;s income for the years
ended December 31, 2018, 2017 and 2016:</font></font><a name="XBRL_TS_0018caf825784152bc2fb1fa8_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Income by type of
  insurance product (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Life insurance</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">682</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">604</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">634</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Individual</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">486</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">346</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">268</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Savings</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Risk</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">430</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">308</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">238</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Group insurance</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">196</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">258</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">366</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Savings</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Risk</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">157</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">263</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">357</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-Life insurance</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">373</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">464</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">474</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Home insurance</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">110</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">118</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">131</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Other non-life
  insurance products</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">263</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">346</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">342</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,055</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,069</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,107</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_55a35a329d6c44ef9c78426a6"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-229</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_512"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;text-indent:-35.45pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">44.&#160;&#160; Administration costs</font></b></font><a name="XBRL_TS_55a35a329d6c44ef9c78426a6_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_8911ed290e0347acbfbb4cefb"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">44.1 &#160;</font></b></font><a name="_Toc106073"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">Personnel expenses</font></b></font><a name="XBRL_TS_8911ed290e0347acbfbb4cefb_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_904c20a85bab43f08c56a790a"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
this heading in the accompanying consolidated income statements is as follows:</font></font><a name="XBRL_TS_904c20a85bab43f08c56a790a_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Personnel Expenses
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Wages and salaries</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,786</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,163</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,267</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Social security costs</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">722</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">761</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">784</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Defined contribution
  plan expense</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">89</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Defined benefit plan
  expense</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other personnel
  expenses</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">465</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">497</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">516</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,120</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,571</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,722</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_04c91338fa2b4ac19f3abc99c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the average number of employees in the BBVA Group in the year
ended December 31, 2018, 2017 and 2016 by professional categories and
geographical areas is as follows:</font></font><a name="XBRL_TS_04c91338fa2b4ac19f3abc99c_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.45pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Average Number of
  Employees</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spanish banks</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Management Team</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,047 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,026 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,044 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other line personnel</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,840 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,180 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,211 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Clerical staff</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,818 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,060 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,730 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Branches abroad</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">589 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">603 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">718 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,294</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,869</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,703</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Companies
  abroad</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,655 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30,664 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30,378 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,786 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,532 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,710 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,322 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,154 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,900 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Venezuela</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,631 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,379 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,097 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Argentina</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,074 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,173 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,041 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Colombia</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,185 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,374 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,714 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Peru</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,879 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,571 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,455 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,767 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,501 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,037 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">88,299</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90,348</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">91,332</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Pension fund
  managers</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">395 </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">362 </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">335 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other non-banking
  companies</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,349 </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,925 </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,307 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">129,336</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">132,504</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">136,677</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=67% style="border:none;height:11.45pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=67% style="height:11.45pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&#160; Men</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">59,547</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">60,730</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62,738</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=67% style="height:11.45pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&#160;Women&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69,790</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">71,774</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">73,939</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=67% style="height:11.45pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=67% style="height:11.45pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&#160;BBVA, S.A.</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,294</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,869</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,979</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_bb79e67b144a47039b34b847f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the number of employees in the BBVA Group as of December 31, 2018,
2017 and 2016 by category and gender is as follows:</font></font><a name="XBRL_TS_bb79e67b144a47039b34b847f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Number of Employees
  at the period end. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Professional Category and Gender</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Male</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Female</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Male</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Female</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Male</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Female</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Management Team</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,197</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">339</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,244</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">342</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,331</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">350</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other line personnel</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37,461</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38,918</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38,670</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39,191</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38,514</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39,213</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Clerical staff</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,315</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,397</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,639</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,770</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,066</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33,318</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">57,973</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67,654</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">60,553</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">71,303</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">61,911</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">72,881</font></b></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-230</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="_Toc106074"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:1.0pt;line-height:115%;">&nbsp;</font></font></p>

<h3 style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_078314de055c4e3fb52c760d7"></a><font color=#1F4D78 face=Arial,sans-serif style="border:none;"><font color=#1F4D78 face=Arial,sans-serif style="font-size:12.0pt;font-weight:normal;line-height:115%;">44.1.1 Share-based employee
remuneration</font></font><a name="XBRL_TS_078314de055c4e3fb52c760d7_bclEnd"></a></h3>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_77accac79bf34636bdc90ae93"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amounts
recognized under the heading &#8220;Administration costs - Personnel expenses - Other
personnel expenses&#8221; in the consolidated income statements for the year ended
December 31, 2018, 2017 and 2016, corresponding&#160; to the remuneration plans
based on equity instruments in each year, amounted to &#8364;</font></font><a name="XBRL_CS_49bb9e60e5a4470e979b76f79"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">29</font></font><a name="XBRL_CS_49bb9e60e5a4470e979b76f79_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> million, &#8364;<a name="XBRL_CS_7cd5ebba82074b87806016171"></a>38<a name="XBRL_CS_7cd5ebba82074b87806016171_bclEnd"></a> million and &#8364;<a name="XBRL_CS_43326be16e91452e81363b29a"></a>57<a name="XBRL_CS_43326be16e91452e81363b29a_bclEnd"></a> million, respectively.
These amounts have been recognized with a corresponding entry under the heading
&#8220;Shareholders&#8217; funds - Other equity instruments&#8221; in the accompanying
consolidated balance sheets, net of tax effect.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The characteristics of the Group's remuneration plans based on
equity instruments are described below.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font color=#094FA5 face=Arial,sans-serif style="border:none;"><font color=#094FA5 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">System of
Variable Remuneration in Shares </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In BBVA, the annual variable remuneration applying generally to
all employees consists of one incentive, to be paid in cash, awarded once a
year and linked to the achievement of predetermined objectives and to a sound
risk management (hereinafter, the &#8220;Annual Variable Remuneration&#8221;).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">According to the remuneration policy for BBVA Group, in force
since 2017, the specific settlement and payment system for the Annual Variable
Remuneration applicable to those employees and senior managers whose
professional activities have a significant impact on the Group&#8217;s risk profile
including the executive directors and members of BBVA Senior Management
(hereinafter, the &quot;Identified Staff&quot;), which includes, among others,
the payment in shares of part of their Annual Variable Remuneration. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This remuneration policy was approved, with respect to BBVA
directors, by the Board of Directors held on February 9, 2017, and by the
Annual General Shareholders&#8217; Meeting held on March 17, 2017.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_b7e4b8353d59443dbef7dfaee"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This
remuneration policy includes a specific settlement and payment system of the
Annual Variable Remuneration applicable to the Identified Staff, including
directors and senior management, under the following rules, among others: </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">A significant percentage of variable remuneration &#8211;
60% in the case of executive directors, Senior Management and those Identified
Staff members with particularly high variable remuneration, and 40% for the
rest of the Identified Staff&#8211; shall be deferred over a five-year period, in the
case of executive directors and Senior Management, and over a three-year
period, for the remaining Identified Staff.</font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">50% of the variable remuneration of each year
(including both upfront and deferred portions), shall be established in BBVA
shares, albeit a larger proportion (60%) in shares shall be deferred in the
case of executive directors and Senior Management.</font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">The variable remuneration will be subject to ex
ante adjustments, so that it will not be accrued, or will be accrued in a
reduced amount, should a certain level of profit or capital ratio not be
obtained. Likewise, the Annual Variable Remuneration will be reduced upon
performance assessment in the event of negative evolution of the Bank&#8217;s results
or other parameters such as the level of achievement of budgeted targets.
</font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-231</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_514"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">The deferred component of the variable remuneration
(in shares and in cash) may be reduced in its entirety, yet not increased,
based on the result of multi-year performance indicators aligned with the
Bank&#8217;s fundamental risk management and control metrics, related to the
solvency, capital, liquidity, funding or profitability, or to the share
performance and recurring results of the Group. </font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">During the entire deferral period (5 or 3 years, as
applicable) and retention period, variable remuneration shall be subject to
malus and clawback arrangements, both linked to a downturn in financial
performance of the Bank, specific unit or area, or individual, under certain
circumstances. </font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">All shares shall be withheld for a period of one
year after delivery, except for those shares required to honor the payment of
taxes.</font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">No personal hedging strategies or insurance may be
used in connection with remuneration and responsibility that may undermine the
effects of alignment with sound risk management. </font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">The deferred amounts in cash subject to multi-year
performance indicators that are finally paid shall be subject to updating, in
the terms determined by the Bank&#8217;s Board of Directors, upon proposal of the
Remunerations Committee, whereas deferred amounts in shares shall not be
updated.</font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:53.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=windowtext face=Symbol lang=EN style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">Finally, the variable component of the remuneration
of the Identified Staff members shall be limited to a maximum amount of 100% of
the fixed component of total remuneration, unless the General Meeting resolves
to increase this percentage up to 200%.<a name="XBRL_TS_b7e4b8353d59443dbef7dfaee_bclEnd"></a></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In this regard, the General Meeting held on March 16, 2018
resolved to increase the maximum level of variable remuneration to 200% of the
fixed component for a number of the Identified Staff, in the terms indicated in
the Report of Recommendations issued for this purpose by the Board of Directors
dated February 12, 2018.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In accordance with the new remuneration policy applicable to the
Identified Staff, malus and clawback arrangements will be applicable to the
Annual Variable Remuneration awarded as of the year 2016, inclusive, for each
member of the Identified Staff.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">According to the settlement and payment scheme indicated, during
2018, members of the Identified Staff received a total amount of <a name="XBRL_CS_96a8e9b708ae4a7d8c76411d3"></a>3,932,268<a name="XBRL_CS_96a8e9b708ae4a7d8c76411d3_bclEnd"></a> shares corresponding to
the initial payment corresponding to 2017 Annual Variable Remuneration to be
delivered in shares.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Additionally, the remuneration policy prevailing until 2014
provided for a specific settlement and payment scheme for the variable
remuneration of the Identified Staff that established a three-year deferral
period for the Annual Variable Remuneration, being the deferred amount paid in
thirds over this period in equal parts, in cash and in BBVA shares.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">According to this prior scheme, during 2018, the members of the
Identified Staff received the shares corresponding to the deferred parts of the
Annual Variable Remuneration from previous years, and their corresponding
adjustments in cash, delivery of which corresponded in 2018, were delivered to
the beneficiary members of the Identified Staff, resulting in a total amount of
<a name="XBRL_CS_2239d243c30d4c8793eed5315"></a>941,366<a name="XBRL_CS_2239d243c30d4c8793eed5315_bclEnd"></a>&#160; shares corresponding to
the last deferred third of the 2014 Annual Variable Remuneration and &#8364;<a name="XBRL_CS_a17acbee71094b43ba3c38ac8"></a>903,711<a name="XBRL_CS_a17acbee71094b43ba3c38ac8_bclEnd"></a> as adjustments for updates
of the shares granted.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The information on the delivery of shares to executive Directors
and senior management corresponding to the deferred parts of the Annual
Variable Remuneration from previous years and their corresponding adjustments
in cash, are detailed in Note 54.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Additionally, in line with specific regulation applicable in Portugal
and Brazil, BBVA identifies those employees that, according to local
regulators, should be subject to a specific settlement and payment scheme of
the Annual Variable Remuneration. </font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-232</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_515"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">According to this regulation,
during 2018 a number of <a name="XBRL_CS_ea511ccc189b4276a391cef34"></a>39,555<a name="XBRL_CS_ea511ccc189b4276a391cef34_bclEnd"></a> shares corresponding to
the initial payment of 2017 Annual Variable Remuneration were delivered to
these beneficiaries. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Additionally, during 2018 the shares corresponding to the deferred
parts of the Annual Variable Remuneration and their corresponding adjustments
in cash, were delivered to these beneficiaries, giving rise in 2018, of a total
of <a name="XBRL_CS_2a512ab3540f4eec9f85ef0b2"></a>12,120<a name="XBRL_CS_2a512ab3540f4eec9f85ef0b2_bclEnd"></a> shares corresponding to the
first deferred third of the 2016 Annual Variable Remuneration, and &#8364;<a name="XBRL_CS_849cfee134654e23a22b05775"></a>2,679<a name="XBRL_CS_849cfee134654e23a22b05775_bclEnd"></a> as adjustments for updates
of the shares granted; a total of <a name="XBRL_CS_6d8d3a1839d74c12845e716d5"></a>10,485<a name="XBRL_CS_6d8d3a1839d74c12845e716d5_bclEnd"></a> shares corresponding to
the second third of the 2015 Annual Variable Remuneration, and &#8364;<a name="XBRL_CS_b0742fa840754c499c8c7495d"></a>6,186<a name="XBRL_CS_b0742fa840754c499c8c7495d_bclEnd"></a> as adjustments for updates
of the shares granted; and a total of <a name="XBRL_CS_fcfbaff43a2e4585811dd70a3"></a>7,158<a name="XBRL_CS_fcfbaff43a2e4585811dd70a3_bclEnd"></a> shares corresponding to
the final third of the 2014 Annual Variable Remuneration, and &#8364;<a name="XBRL_CS_f310dbbdece941b489fefb2d5"></a>6,872<a name="XBRL_CS_f310dbbdece941b489fefb2d5_bclEnd"></a> as adjustments for updates
of the shares granted.</font></font><a name="XBRL_TS_77accac79bf34636bdc90ae93_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_d569f1a2b3b44083ac0530031"></a><a name="_Toc474142320"></a><a name="_Toc106075"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">44.2&#160; Other administrative expenses</font></b></font><a name="XBRL_TS_d569f1a2b3b44083ac0530031_bclEnd"></a></p>

<p align=left style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:left;"><a name="XBRL_TS_7ad9fedb11264cdd9217270b4"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
breakdown of the balance under this heading in the accompanying consolidated
income statements is as follows:</font></font><a name="XBRL_TS_7ad9fedb11264cdd9217270b4_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other Administrative
  Expenses (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Technology and
  systems</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,133</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">692</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">673</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Communications </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">235</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">269</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">294</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Advertising</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">336</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">352</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">398</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Property, fixtures
  and materials</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">982</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,033</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,080</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which:
  Rent expenses (*)</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">552</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">581</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">616</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Taxes other than
  income tax</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">417</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">456</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">433</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other expenses</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,271</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,738</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,766</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,374</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,541</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,644</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_FS_d4ad7c97255641039c8364d47"></a><a name="XBRL_TS_6d8dff2afddc4c92842b25eb2"></a><a name="XBRL_TS_0da61830f9094a9795acbe10e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; The consolidated companies do not expect to terminate the
lease contracts early.</font></font><a name="XBRL_FS_d4ad7c97255641039c8364d47_bclEnd"></a><a name="XBRL_TS_0da61830f9094a9795acbe10e_bclEnd"></a><a name="XBRL_TS_6d8dff2afddc4c92842b25eb2_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_63eeaa6283994067b25e772f1"></a><a name="_Toc106076"></a><a name="_Toc457490052"></a><a name="_Toc474142321"></a><a name="_Toc481589107"></a><a name="_Toc495478159"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">45.&#160;&#160; Depreciation</font></b></font><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;"> and Amortization</font></b></font><a name="XBRL_TS_63eeaa6283994067b25e772f1_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_50e157be5a5e4dd391ca15629"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance under this heading in the accompanying consolidated
income statements is as follows:</font></font><a name="XBRL_TS_50e157be5a5e4dd391ca15629_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Depreciation and
  amortization (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=57% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Tangible assets</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">594</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">694</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">690</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">For own use</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">589</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">680</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">667</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Investment
  properties</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Assets leased out
  under operating lease</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=57% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other Intangible
  assets</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">613</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">694</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">735</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=57% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,208</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,387</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,426</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc298431748"></a><a name="_Toc299029486"></a><a name="_Toc299031566"></a><a name="_Toc299032905"></a><a name="_Toc331260346"></a><a name="_Toc347755884"></a><a name="_Toc376950011"></a><a name="XBRL_TS_581b826908c041b4bf647fb3c"></a><a name="_Toc457490053"></a><a name="_Toc474142322"></a><a name="_Toc481589108"></a><a name="_Toc495478160"></a><a name="_Toc106077"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">46.&#160;&#160; Provisions or (reversal) of provisions</font></b></font><a name="XBRL_TS_581b826908c041b4bf647fb3c_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_3dd28c0260504172afb98c67f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the
years ended December 31, 2018, 2017 and 2016 the net provisions recognized in
this income statement line item were as follows:</font></font><a name="XBRL_TS_3dd28c0260504172afb98c67f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:11.45pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Provisions or
  (reversal) of provisions (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Pensions and other
  post employment defined benefit obligations</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">125</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">343</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">332</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td valign=bottom width=56% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Commitments and
  guarantees given</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(48)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(313)</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td valign=bottom width=56% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Pending legal issues
  and tax litigation</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">133</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">318</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">76</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other Provisions </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">163</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">397</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">722</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">373</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">745</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:11.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,186</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-233</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_516"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc298431749"></a><a name="_Toc299029487"></a><a name="_Toc299031567"></a><a name="_Toc299032906"></a><a name="_Toc331260347"></a><a name="_Toc347755885"></a><a name="_Toc376950012"></a><a name="XBRL_TS_86030e96740d4e02a83872e6b"></a><a name="_Toc457490054"></a><a name="_Toc474142323"></a><a name="_Toc481589109"></a><a name="_Toc495478161"></a><a name="_Toc106078"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">47.&#160;&#160;
Impairment or (reversal) of impairment on financial assets not measured at fair
value through profit or loss</font></b></font><a name="XBRL_TS_86030e96740d4e02a83872e6b_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_d191cb1d1bc443bea68caf9f9"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of Impairment or reversal of impairment on financial assets not
measured at fair value through profit or loss by the nature of those assets in
the accompanying consolidated income statements is as follows:</font></font><a name="XBRL_TS_d191cb1d1bc443bea68caf9f9_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:20.45pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:20.45pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Impairment or
  (reversal) of impairment on financial assets not measured at fair value
  through profit or loss (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13.4</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,127</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">202</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">157</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,131</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at
  amortized cost</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,980</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,677</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,597</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: Recovery
  of written-off assets</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7.3.5</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">589</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">558</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">541</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Held to maturity
  investments</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:#D9D9D9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,981</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,803</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,801</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc331260348"></a><a name="_Toc298431750"></a><a name="_Toc347755886"></a><a name="_Toc376950013"></a><a name="XBRL_TS_e0015fe81b68443b8296440f3"></a><a name="_Toc457490055"></a><a name="_Toc474142324"></a><a name="_Toc481589110"></a><a name="_Toc495478162"></a><a name="_Toc106079"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">48.&#160;
Impairment or (reversal) of impairment on non-financial assets</font></b></font><a name="XBRL_TS_e0015fe81b68443b8296440f3_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_bf444a06a8f047bab1de8e38a"></a><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
impairment losses on non-financial assets broken down by the nature of those
assets in the accompanying consolidated income statements are as follows:</font></font><a name="XBRL_TS_bf444a06a8f047bab1de8e38a_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Impairment or
  (reversal) of impairment on non-financial assets (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Tangible assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">143</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Intangible assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18.2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">83</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Others&#160;&#160; </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">51</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">306</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">375</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">138</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">363</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">521</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc299029488"></a><a name="_Toc299031568"></a><a name="_Toc299032907"></a><a name="_Toc298431751"></a><a name="_Toc331260349"></a><a name="_Toc347755887"></a><a name="_Toc376950016"></a><a name="XBRL_TS_3339a7d0043c471ab851ff977"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">49.&#160;&#160; Gains (losses) on derecognition of non - financial assets
and subsidiaries, net</font></b></font><a name="XBRL_TS_3339a7d0043c471ab851ff977_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><a name="XBRL_TS_fda4e34d4aa44637a8ae29eb8"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the balance under
this heading in the accompanying consolidated income statements is as follows:</font></font><a name="XBRL_TS_fda4e34d4aa44637a8ae29eb8_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gains (losses) on
  derecognition of non-financial assets and subsidiaries, net (Millions of
  euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Gains</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposal of
  investments in non-consolidated subsidiaries</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">111</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposal of tangible
  assets and other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">81</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">64</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Losses:</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposal of
  investments in non-consolidated subsidiaries</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(13)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(27)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(58)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposal of tangible
  assets and other</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(45)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(33)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(47)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=67% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">70</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc298431752"></a><a name="_Toc299029489"></a><a name="_Toc299031569"></a><a name="_Toc299032908"></a><a name="_Toc331260350"></a><a name="_Toc347755888"></a><a name="_Toc376950017"></a><a name="XBRL_TS_151a98208035401abd0a8bbcc"></a><a name="_Toc457490057"></a><a name="_Toc474142326"></a><a name="_Toc481589112"></a><a name="_Toc495478164"></a><a name="_Toc106081"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-234</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_517"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">50.&#160; Profit (loss) from non-current assets and disposal groups
classified as held for sale not qualifying as discontinued operations</font></b></font><a name="XBRL_TS_151a98208035401abd0a8bbcc_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_c339eb8d1d75468aaf309c9f5"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The main
items included in the balance under this heading in the accompanying
consolidated income statements are as follows:</font></font><a name="XBRL_TS_c339eb8d1d75468aaf309c9f5_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:31.5pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Profit (loss) from
  non-current assets and disposal groups classified as held for sale not
  qualifying as discontinued operations (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gains on sale of real
  estate</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">129</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">102</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Impairment of
  non-current assets held for sale</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(208)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(158)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(136)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=56% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gains on sale of
  investments classified as non-current assets held for sale (*)</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">894</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap width=11% style="height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Gains on sale of
  equity instruments classified as non-current assets held for sale</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">815</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(31)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><a name="XBRL_TS_3cc295f2268242148e10c02d8"></a><a name="XBRL_FS_ae8cc49faa834cc2ace4af09e"></a><a name="XBRL_TS_1fddc873e048426790522f074"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160; The change is
mainly as a result of the sale of the BBVA stake in BBVA Chile (see Note 3).</font></font><a name="XBRL_FS_ae8cc49faa834cc2ace4af09e_bclEnd"></a><a name="XBRL_TS_1fddc873e048426790522f074_bclEnd"></a><a name="XBRL_TS_3cc295f2268242148e10c02d8_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_3e3d1b9822ce4a99b3b68b2e4"></a><a name="_Toc106082"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-235</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_518"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">51.&#160;&#160;
Consolidated statements of cash flows</font></b></font><a name="XBRL_TS_3e3d1b9822ce4a99b3b68b2e4_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_8a0f97079467442a8f4f1faa9"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the
consolidated statements of cash flows, the balance of &#8220;Cash equivalent in
central banks&#8221; includes short-term deposits at central banks under the heading
&quot;Financial assets at amortized cost&quot; in the accompanying consolidated
balance sheets and does not include demand deposits with credit institutions
recorded in the heading &quot;Cash, balances in cash at Central Bank and other
demand deposits&quot;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Cash flows from operating activities increased in the year ended
December 31, 2018 by &#8364;6,609 million (compared with a decrease of &#8364;4,568 million
in December 31, 2017), mainly due to the change in &#8220;Financial assets held for
trading&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Cash flows from investing activities increased in the year ended
December 31, 2018 by &#8364;4,614 million (compared with an increase of &#8364;3,462
million in December 31, 2017), mainly due to the change in &#8220;Joint Ventures and
Associates&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Cash flows from financing activities decreased in the year ended
December 31, 2018 by &#8364;4,994 million (compared with an increase of &#8364;1,015
million in December 31, 2017), mainly due to the change in &#8220;Subordinated
Liabilities&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The variation between 2018 and 2017 of the financial liabilities
from financing activities is the following:</font></font><a name="XBRL_TS_8a0f97079467442a8f4f1faa9_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:16.5pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Liabilities from
  financing activities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=25% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 31, 2017</font></b></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Cash flows </font></b></font></p>
  </td>
 <td colspan=4 width=43% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-cash changes</font></b></font></p>
  </td>
 <td rowspan=2 width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 31, 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap valign=bottom width=25% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Acquisition</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Disposal</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Foreign exchange movement</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fair value changes</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=25% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt certificates</font></font></p>
  </td>
 <td width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">50,635 </font></font></p>
  </td>
 <td width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,621)</font></font></p>
  </td>
 <td width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,900)</font></font></p>
  </td>
 <td width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(779)</font></font></p>
  </td>
 <td width=10% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46,335 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=25% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subordinated debt
  certificates</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,443 </font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">857 </font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(694)</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29 </font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,635 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=25% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Short-term debt</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,013 </font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">931 </font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">81 </font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,025 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=25% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  liabilities</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,891 </font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,574 </font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(643)</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,328)</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,495 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=25% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">86,982</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,741</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3,237)</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,997)</font></b></font></p>
  </td>
 <td width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">83,490</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td colspan=8 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Liabilities from
  financing activities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=25% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 31, 2016</font></b></font></p>
  </td>
 <td rowspan=2 width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Cash flows </font></b></font></p>
  </td>
 <td colspan=4 width=43% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-cash changes</font></b></font></p>
  </td>
 <td rowspan=2 width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 31, 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap valign=bottom width=25% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Acquisition</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Disposal</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Foreign exchange movement</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fair value changes</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=25% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt certificates</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">59,388 </font></font></p>
  </td>
 <td width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,958)</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,796)</font></font></p>
  </td>
 <td width=10% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">50,635 </font></font></p>
  </td>
 </tr>
<tr style="height:18.6pt;">
  <td width=25% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subordinated debt certificates</font></font></p>
  </td>
 <td width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,987 </font></font></p>
  </td>
 <td width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,679 </font></font></p>
  </td>
 <td width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,223)</font></font></p>
  </td>
 <td width=10% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:18.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,443 </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=25% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Short-term debt</font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,556 </font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,319)</font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(224)</font></font></p>
  </td>
 <td width=10% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,013 </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=25% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  liabilities</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,179 </font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(378)</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(910)</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,891 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=25% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">98,111</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,976)</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,153)</font></b></font></p>
  </td>
 <td width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">86,982</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-236</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_519"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_8588c73c39f94be0ade1a9f88"></a><a name="_Toc106083"></a><a name="_Toc495478166"></a><a name="_Toc481589114"></a><a name="_Toc474142328"></a><a name="_Toc457490059"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">52.&#160;&#160;
Accountant fees and services</font></b></font><a name="XBRL_TS_8588c73c39f94be0ade1a9f88_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_ff97ca8cf2654aea867916451"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The details of the fees for the
services contracted by entities of the BBVA Group for the years ended December
31, 2018 and 2017 with their respective auditors and other audit entities are
as follows:</font></font><a name="XBRL_TS_ff97ca8cf2654aea867916451_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=3 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Fees for Audits
  Conducted and Other Related Services (Millions of euros) (**)</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=78% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td valign=bottom width=78% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Audits of the
  companies audited by firms belonging to the KPMG worldwide organization and
  other reports related with the audit (*)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26.1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27.2</font></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td valign=bottom width=78% style="height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other reports
  required pursuant to applicable legislation and tax regulations issued by the
  national supervisory bodies of the countries in which the Group operates,
  reviewed by firms belonging to the KPMG worldwide organization</font></font></p>
  </td>
 <td nowrap width=11% style="height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.5</font></font></p>
  </td>
 <td nowrap width=11% style="height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.9</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=78% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Fees for audits
  conducted by other firms</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.1</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.1</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:12.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_cbac9c9b0f9742c9aa5de68f6"></a><a name="XBRL_FS_5aa3f6d82d374f19a573790c9"></a><a name="XBRL_TS_1642b759431d4c79a13ab21c6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Including fees pertaining to annual legal audits (&#8364;22.4 and
22.6 million as of December 31, 2018 and December 31, 2017, respectively).</font></font><a name="XBRL_FS_5aa3f6d82d374f19a573790c9_bclEnd"></a><a name="XBRL_TS_1642b759431d4c79a13ab21c6_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:0cm;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_FS_4fbc59be199f4d3b81fe4886f"></a><a name="XBRL_TS_73a5eac7181d4a46b14fac659"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(**)&#160; Regardless of the billed period.</font></font><a name="XBRL_FS_4fbc59be199f4d3b81fe4886f_bclEnd"></a><a name="XBRL_TS_73a5eac7181d4a46b14fac659_bclEnd"></a><a name="XBRL_TS_cbac9c9b0f9742c9aa5de68f6_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_7e8715eba54a43e9b1b71544c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the year ended December 31,
2018, other entities in the BBVA Group contracted other services (other than
audits) as follows:</font></font><a name="XBRL_TS_7e8715eba54a43e9b1b71544c_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=3 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other Services
  rendered (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=78% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=78% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Firms belonging to
  the KPMG worldwide organization</font></font></p>
  </td>
 <td width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.3</font></font></p>
  </td>
 <td width=11% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.5</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_07faab5264ad4164a6cd0b00e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This total
of contracted services includes the detail of the services provided by KPMG
Auditores, S.L. to BBVA, S.A. or its controlled companies at the date of
preparation of these consolidated financial statements as follows:</font></font><a name="XBRL_TS_07faab5264ad4164a6cd0b00e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=3 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Fees for Audits
  Conducted (*) (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=78% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=78% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Legal audit of
  BBVA,S.A. or its companies under control</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6.7</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6.8</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=78% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other audit services
  of BBVA, S.A. or its companies under control</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5.9</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5.0</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=78% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Limited Review of
  BBVA, S.A. or its companies under control</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1.1</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.9</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=78% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Reports related to
  issuances</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.3</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.4</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=78% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Assurance jobs and
  other required by the regulator</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.9</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0.6</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=78% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:12.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_FS_3669cfd9137c4be5a629ece94"></a><a name="XBRL_TS_ef03ef54a6684b2b99f37193d"></a><a name="XBRL_TS_a25b131fa45b495e8c4d28ec1"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160; </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:8.0pt;line-height:115%;">Services provided by KPMG Auditores, S.L. to companies located in
Spain, to the branch of BBVA in New York and to the branch of BBVA in London.</font></font><a name="XBRL_FS_3669cfd9137c4be5a629ece94_bclEnd"></a><a name="XBRL_TS_a25b131fa45b495e8c4d28ec1_bclEnd"></a><a name="XBRL_TS_ef03ef54a6684b2b99f37193d_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_42f53b5605fe47f6ab8370d35"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The services provided by the
auditors meet the independence requirements of the external auditor established
under Audit of Accounts Law (Law 22/2015) and under the Sarbanes-Oxley Act of
2002 adopted by the Securities and Exchange Commission (SEC).</font></font><a name="XBRL_TS_42f53b5605fe47f6ab8370d35_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-237</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_520"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_225b93f2dd7f45be91267b6bb"></a><a name="_Toc106084"></a><a name="_Toc495478167"></a><a name="_Toc481589115"></a><a name="_Toc474142329"></a><a name="_Toc457490060"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">53.&#160;&#160; Related-party transactions</font></b></font><a name="XBRL_TS_225b93f2dd7f45be91267b6bb_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_f3642d61f036418da880eada1"></a><a name="XBRL_CS_0451dbf39a074828b84136a52"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As financial institutions, BBVA and
other entities in the Group engage in transactions with related parties in the
normal course of their business. All of these transactions are not material and
are carried out under normal market conditions.</font></font><a name="XBRL_CS_0451dbf39a074828b84136a52_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> As of December 31, 2018, 2017
and 2016, the following are the transactions with related parties:</font></font><a name="XBRL_TS_f3642d61f036418da880eada1_bclEnd"></a></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_ae466aff3d4244e4b1a9eb866"></a><a name="_Toc106085"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;">53.1&#160; Transactions with significant shareholders</font></b></font><a name="XBRL_TS_ae466aff3d4244e4b1a9eb866_bclEnd"></a></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_554e7374c06c4a26aaed32666"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, 2017 and 2016, there were no shareholders considered
significant (see Note 26).</font></font><a name="XBRL_TS_554e7374c06c4a26aaed32666_bclEnd"></a></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_593ac79b744946d0878fc523b"></a><a name="_Toc106086"></a><a name="_Toc474142331"></a><a name="_Toc376972428"></a><a name="_Toc376950020"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;">53.2&#160; Transactions with BBVA Group entities</font></b></font><a name="XBRL_TS_593ac79b744946d0878fc523b_bclEnd"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;"> &nbsp;</font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_72580f35798c43109790a6279"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The balances of the main aggregates
in the accompanying consolidated balance sheets arising from the transactions
carried out by the BBVA Group with associates and joint venture entities
accounted for using the equity method are as follows:</font></font><a name="XBRL_TS_72580f35798c43109790a6279_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Balances arising from
  transactions with Entities of the Group (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:35.25pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:35.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:35.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:35.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:35.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Assets:</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">132</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">91</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances to
  customers</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,866</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">510</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">442</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Liabilities:</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Deposits from credit
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">521</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">428</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">533</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt certificates </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Memorandum
  accounts:</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=67% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Financial guarantees
  given</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=67% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Contingent
  commitments</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,358</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">114</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">121</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">152</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,175</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,466</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_3fc29a4cd4374d8587df2e917"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-238</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_521"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
balances of the main aggregates in the accompanying consolidated income
statements resulting from transactions with associates and joint venture
entities that are accounted for under the equity method are as follows:</font></font><a name="XBRL_TS_3fc29a4cd4374d8587df2e917_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Balances of Income
  Statement arising from transactions with Entities of the Group (Millions of
  euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=67% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Income
  statement:</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Financial incomes</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Financial costs</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fee and Commission
  Income</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=67% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Fee and Commission
  Expenses</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><a name="XBRL_TS_4ce747248f93468caada0870d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">There were no other material
effects in the consolidated financial statements arising from dealings with
these entities, other than the effects from using the equity method (see Note
2.1) and from the insurance policies to cover pension or similar (see Note 25)
commitments and the futures transactions arranged by BBVA Group with these
entities, associates and joint ventures.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, as part of its normal activity, the BBVA Group has
entered into agreements and commitments of various types with shareholders of
subsidiaries and associates, which have no material effects on the accompanying
consolidated financial statements.</font></font><a name="XBRL_TS_4ce747248f93468caada0870d_bclEnd"></a></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_dfd31908a4b242bb99dd9f159"></a><a name="_Toc106087"></a><a name="_Toc474142332"></a><a name="_Toc376972429"></a><a name="_Toc376950021"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;">53.3 Transactions with members of the Board of Directors and
Senior Management</font></b></font><a name="XBRL_TS_dfd31908a4b242bb99dd9f159_bclEnd"></a></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_2287a84b8c2c41b5bbb25eeb8"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The information on the remuneration of the members of the BBVA
Board of Directors and Senior Management is included in Note 54.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, the amount availed
against the loans granted by the Group&#8217;s entities to the members of the Board of
Directors amounted to &#8364;<a name="XBRL_CS_cc98891bcb7a4ebcb1adf9613"></a>611<a name="XBRL_CS_cc98891bcb7a4ebcb1adf9613_bclEnd"></a> thousand. As of December
31, 2017 and 2016, there were no loans granted by the Group&#8217;s entities to the
members of the Board of Directors. The amount availed against the loans granted
by the Group&#8217;s entities to the members of Senior Management on those same dates
(excluding the executive directors) amounted to &#8364;<a name="XBRL_CS_92325286786b4973b495a5828"></a>3,783<a name="XBRL_CS_92325286786b4973b495a5828_bclEnd"></a>, &#8364;<a name="XBRL_CS_5065ccdc3e6243a2a08a9b307"></a>4,049<a name="XBRL_CS_5065ccdc3e6243a2a08a9b307_bclEnd"></a> and &#8364;<a name="XBRL_CS_635ffd11448048b692cf0042a"></a>5,573<a name="XBRL_CS_635ffd11448048b692cf0042a_bclEnd"></a> thousand, respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, 2017 and 2016, there
were no loans granted to parties related to the members of the Board of Directors.
As of December 31, 2018, 2017 and 2016 the amount availed against the loans
granted to parties related to members of the Senior Management amounted to &#8364;<a name="XBRL_CS_b4d72748361642b0bcf644daa"></a>69<a name="XBRL_CS_b4d72748361642b0bcf644daa_bclEnd"></a>, &#8364;<a name="XBRL_CS_dd60f0ecbfff4d8e98b8f93ef"></a>85<a name="XBRL_CS_dd60f0ecbfff4d8e98b8f93ef_bclEnd"></a> and &#8364;<a name="XBRL_CS_00ff970ae92c4ec88dd77548c"></a>98<a name="XBRL_CS_00ff970ae92c4ec88dd77548c_bclEnd"></a> thousand, respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, 2017 and 2016 no
guarantees had been granted to any member of the Board of Directors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of December 31, 2018, 2017 and 2016, the
amount availed against guarantees arranged with members of the Senior
Management amounted to &#8364;<a name="XBRL_CS_99393ffbf8834d31816966678"></a>38<a name="XBRL_CS_99393ffbf8834d31816966678_bclEnd"></a>, &#8364;<a name="XBRL_CS_b369cf98ed014e99ab13df3b7"></a>28<a name="XBRL_CS_b369cf98ed014e99ab13df3b7_bclEnd"></a> and &#8364;<a name="XBRL_CS_53308b50a198431091649b61d"></a>28<a name="XBRL_CS_53308b50a198431091649b61d_bclEnd"></a> thousand, respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As
of December 31, 2018, no commercial loans and guarantees has been granted to
parties related to the members of the Bank&#8217;s Board of Directors and the Senior
Management. As of December 31, 2017 and 2016 the amount availed against
commercial loans and guarantees arranged with parties related to the members of
the Bank&#8217;s Board of Directors and the Senior Management totaled &#8364;<a name="XBRL_CS_41997e81e21043e7b5f66d435"></a><a name="XBRL_CS_7277c9e7d46e48eba2d0a4683"></a><a name="XBRL_CS_3c0ac2047a504f6fb6dd47689"></a>8<a name="XBRL_CS_3c0ac2047a504f6fb6dd47689_bclEnd"></a><a name="XBRL_CS_41997e81e21043e7b5f66d435_bclEnd"></a><a name="XBRL_CS_7277c9e7d46e48eba2d0a4683_bclEnd"></a> thousand</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font><a name="XBRL_TS_2287a84b8c2c41b5bbb25eeb8_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_81025160eb4d41d8a2286d41f"></a><a name="_Toc106088"></a><a name="_Toc474142333"></a><a name="_Toc376972430"></a><a name="_Toc376950022"></a></h2>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-239</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_522"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h2 style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-35.45pt;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:14.0pt;">53.4 &#160;Transactions with other related parties</font></b></font><a name="XBRL_TS_81025160eb4d41d8a2286d41f_bclEnd"></a></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_c2bc8f50676644ce9fc37a5ee"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, 2017 and 2016, the Group did not conduct any transactions
with other related parties that are not in the ordinary course of its business,
which were not carried out at arm's-length market conditions and of marginal
relevance; whose information is not necessary to give a true picture of the
BBVA Group&#8217;s consolidated net equity, net earnings and financial situation.</font></font><a name="XBRL_TS_c2bc8f50676644ce9fc37a5ee_bclEnd"></a></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc376950025"></a><a name="_Toc347755892"></a><a name="_Toc331260354"></a><a name="_Toc299032912"></a><a name="_Toc299031573"></a><a name="_Toc299029493"></a><a name="_Toc298431756"></a><a name="XBRL_TS_38795f3b0d544a88b7123625b"></a><a name="_Toc106089"></a><a name="_Toc378810308"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">54.&#160;&#160;
Remuneration and other benefits to the Board of Directors and to the members of
the Bank&#8217;s Senior Management</font></b></font><a name="XBRL_TS_38795f3b0d544a88b7123625b_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_9cd14a4d54394e33a7385b421"></a><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Remuneration received by non-executive directors during the 2018
financial year</font></b></font><a name="XBRL_TS_9cd14a4d54394e33a7385b421_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_14cc8f6522124dedbf3af7638"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
remunerations paid to non-executive members of the Board of Directors during
the 2018 financial year are indicated below, individually and itemized:</font></font><a name="XBRL_TS_14cc8f6522124dedbf3af7638_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Remuneration for
  non-executive directors (thousands of euro)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Board of Directors</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Executive Committee</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Audit and Compliance Committee</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Risk Committee</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Remunerations Committee&#160; </font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Appointments Committee </font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Technology and&#160; Cybersecurity Committee</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=15% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Tom&#225;s Alfaro Drake</font></font></p>
  </td>
 <td width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">129</font></font></p>
  </td>
 <td width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">258</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Jos&#233; Miguel Andr&#233;s
  Torrecillas </font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">129</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">179</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">107</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">71</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">485</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Jaime F&#233;lix Caruana
  Lacorte (1)</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">83</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">237</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Bel&#233;n Garijo L&#243;pez</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">129</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">71</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">107</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">328</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Sunir Kumar Kapoor </font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">129</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">172</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Carlos Loring
  Mart&#237;nez de Irujo</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">129</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">167</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">107</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">445</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Lourdes M&#225;iz Carro</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">129</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">71</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">284</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Jos&#233; Maldonado Ramos</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">129</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">167</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">390</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Ana Peralta Moreno
  (1)</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">86</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">36</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">143</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Juan Pi Llorens</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">129</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">71</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">214</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">457</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Susana Rodr&#237;guez
  Vidarte </font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">129</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">167</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">107</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">443</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Jan Verplancke (1)</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">107</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">132</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=15% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total (2)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,427</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">584</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">446</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">642</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">257</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">239</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">179</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,773</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><a name="XBRL_TS_1b7c987b6cb34f3589af4a72f"></a><a name="XBRL_FS_6277f4398df648a3b90b0789b"></a><a name="XBRL_FS_27a20de4db6d4e0185cf42067"></a><a name="XBRL_FS_55b5fccad01a416680b8adad6"></a><a name="XBRL_TS_89297d9ef1e44b2aaf741bba4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; Directors appointed by the
General Meeting held on 16 March 2018.</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">This includes the remunerations paid for membership of the various
Board Committees throughout the 2018 financial year.</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">The
composition of these Committees was modified on 27 June 2018.</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Remunerations
paid in accordance with the date of acceptance of said appointment.</font></font><a name="XBRL_FS_27a20de4db6d4e0185cf42067_bclEnd"></a><a name="XBRL_FS_55b5fccad01a416680b8adad6_bclEnd"></a><a name="XBRL_FS_6277f4398df648a3b90b0789b_bclEnd"></a><a name="XBRL_TS_89297d9ef1e44b2aaf741bba4_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_FS_2dabf06782164373ac9e2a796"></a><a name="XBRL_TS_fd6cb56d75aa45e1b4e22909c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(2)&#160; In addition, Jos&#233; Antonio
Fern&#225;ndez Rivero, who stepped down as director on 16 March 2018, received a
total of &#8364;95 thousand in 2018, for his membership of the Board and of a number
of Board Committees.</font></font><a name="XBRL_FS_2dabf06782164373ac9e2a796_bclEnd"></a><a name="XBRL_TS_1b7c987b6cb34f3589af4a72f_bclEnd"></a><a name="XBRL_TS_fd6cb56d75aa45e1b4e22909c_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_a319bdadf451493ebafa39bbb"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Also, during the 2018 financial year, &#8364;107 thousand has been paid
out in casualty and healthcare insurance premiums for non-executive members of
the Board of Directors.</font></font><a name="XBRL_TS_a319bdadf451493ebafa39bbb_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_9f0395b16d82443f9e64a97e3"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-240</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_523"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Remuneration received by executive directors during
the 2018 financial year</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Over the course of financial year 2018, the executive directors have
received the amount of the Annual Fixed Remuneration corresponding to said
financial year, established in the Remuneration Policy for BBVA Directors
applicable in 2018, which was approved by the General Meeting held on 17 March
2017.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition, the executive directors have received the Annual
Variable Remuneration for 2017 financial year, which, in accordance with the
settlement and payment system set out in said Policy, was due to be paid to
them during the first quarter of financial year 2018.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In application of this settlement and payment system:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:39.3pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#0070C0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">40% of
the 2017 Annual Variable Remuneration corresponding to executive directors has
been paid, having the conditions been met, in the first quarter of financial
year 2018 (hereinafter, the &quot;Upfront Portion&quot;), in equal parts in
cash and in shares. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:39.3pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#0070C0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
remaining 60% of the Annual Variable Remuneration, both in cash and in shares,
has been deferred in its entirety for a period of five years, and its accrual
and payment will be subject to compliance with a series of multi-year
indicators (hereinafter, the &quot;Deferred Portion&quot;). The application of
these indicators, calculated over the first three years of deferral, may lead
to a reduction of the Deferred Portion, even in its entirety, but in no event may
be increased. Provided that the relevant conditions have been met, the
resulting amount will then be paid (40% in cash and 60% in shares), according
to the following schedule: 60% in 2021, 20% in 2022 and the remaining 20% in
2023.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:39.3pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#0070C0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">All the
shares delivered to the executive directors as Annual Variable Remuneration,
both of the Upfront Portion and the Deferred Portion will be withheld for a
period of one year after their delivery; this will not apply to those shares
transferred to honor the payment of taxes arising therefrom.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:39.3pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#0070C0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Deferred Portion of the Annual Variable Remuneration in cash will be subject to
updating under the terms established by the Board of Directors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:39.3pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#0070C0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Executive
directors may not use personal hedging strategies or insurance in connection
with the remuneration and responsibility that may undermine the effects of
alignment with prudent risk management.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:39.3pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#0070C0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
variable component of the remuneration for executive directors corresponding
financial year 2017 is limited to a maximum amount of 200% of the fixed
component of the total remuneration, as agreed by the General Meeting.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:39.3pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:115%;">&#183;</font><font color=#0070C0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Over the entire deferral and withholding period, the entire Annual
Variable Remuneration for the executive directors will be subject to reduction
and recovery (&quot;malus&quot; and &quot;clawback&quot;) arrangements.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-241</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_524"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Additionally, upon receipt
of the shares, executive directors will not be allowed to transfer a number of
shares equivalent to twice their Annual Fixed Remuneration (AFR) for at least
three years after their delivery.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Similarly, in application of the settlement and
payment system of the annual variable remuneration for 2014 financial year, in
accordance with the remuneration policy applicable at that time, the executive
directors have received in 2018 the last third of the deferred annual variable
remuneration for 2014 financial year, delivery of which corresponded in 2018,
thus concluding payment of the deferred variable remuneration for 2014.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In accordance with the above, the remunerations
paid to executive directors during financial year 2018 are indicated below,
individually and itemized:</font></font><a name="XBRL_TS_9f0395b16d82443f9e64a97e3_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=2 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Annual Fixed
  Remuneration (thousands of euro), received in 2018</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=89% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=89% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Carlos Torres Vila</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,965</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=89% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Jos&#233; Manuel
  Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">834</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=89% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,799</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:17.25pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Variable remuneration
  for financial year 2017, received in 2018</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=78% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">In cash (1)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">(thousands of euro)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">In shares (1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=78% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Carlos Torres Vila</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">562</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">77,493</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=78% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Jos&#233; Manuel
  Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">87</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12,029</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=78% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">649</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">89,522</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><a name="XBRL_FS_bd47f51926bc4fe8a05504610"></a><a name="XBRL_FS_7bcb84966c8d46a5bb663230b"></a><a name="XBRL_TS_8e2a8d0dbfa5410f86054cb10"></a><a name="XBRL_TS_e0d7959d56df4ec287ee59edd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(1)&#160; Remunerations
corresponding to the Upfront Portion (40%) of the Annual Variable Remuneration
for financial year 2017, 50% in cash and 50% in shares.</font></font><a name="XBRL_FS_7bcb84966c8d46a5bb663230b_bclEnd"></a><a name="XBRL_FS_bd47f51926bc4fe8a05504610_bclEnd"></a><a name="XBRL_TS_8e2a8d0dbfa5410f86054cb10_bclEnd"></a><a name="XBRL_TS_e0d7959d56df4ec287ee59edd_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:18.0pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Deferred variable
  remuneration for financial year 2014, received in 2018</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=78% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">In cash (1)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">(thousands of euro)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">In shares (1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=78% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Carlos Torres Vila</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">105</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,766</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=78% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Jos&#233; Manuel
  Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">33</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,678</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=78% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">137</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15,444</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><a name="XBRL_TS_7333068db2a1488e95f6a498e"></a><a name="XBRL_TS_871a1e9faf0b43b8a4bd7411a"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(1)&#160; Remunerations
corresponding to the last third of the deferred annual variable remuneration
for financial year 2014, 50% in cash and 50% in shares, along with its update
in cash.</font></font><a name="XBRL_TS_7333068db2a1488e95f6a498e_bclEnd"></a><a name="XBRL_TS_871a1e9faf0b43b8a4bd7411a_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_c88d690f70b941b0ad35bc32a"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In addition, the executive directors received remuneration in kind
throughout financial year 2018, including insurance premiums and others,
amounting to a total of &#8364;</font></font><a name="XBRL_CS_40560ea07b904bc1a67cce5da"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">236</font></font><a name="XBRL_CS_40560ea07b904bc1a67cce5da_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> thousand, of which &#8364;<a name="XBRL_CS_045c2ea39ef044c8bbecb5341"></a>154<a name="XBRL_CS_045c2ea39ef044c8bbecb5341_bclEnd"></a> thousand correspond to
Carlos Torres Vila and &#8364;<a name="XBRL_CS_8944bd6b9592453d8f5239fe1"></a>82<a name="XBRL_CS_8944bd6b9592453d8f5239fe1_bclEnd"></a> thousand to Jos&#233; Manuel
Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_645a28f0096c448c895276484"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Former Group Executive Chairman, Francisco Gonz&#225;lez Rodr&#237;guez, who
stepped down from this position with effect on 21 December 2018, received,
during 2018, &#8364;2,475 thousand as Annual Fixed Remuneration; &#8364;660 thousand and
90,933 BBVA shares corresponding to 40% of the Annual Variable Remuneration for
financial year 2017; and &#8364;332 thousand and 37,390 BBVA shares as settlement of
the last third of the deferred variable remuneration for financial year 2014,
payment of which corresponded in first quarter of financial year 2018,
including the corresponding update; as well as &#8364;20 thousand as remuneration in
kind.
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">On the other hand, it is
indicated that in 2018, CEO Onur Gen&#231;&#8212;who was appointed by resolution of BBVA's
Board of Directors on 20 December 2018&#8212; has not received any remuneration for
said role in 2018, having received fixed and variable remuneration in
accordance with his previous position as Chairman and CEO of BBVA Compass, this
remuneration being subject to the settlement and payment system applicable to
said position. Thus, over the course of the financial year 2018, he has
received &#8364;2,240</font><sup><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">(*)</font></sup><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">
thousand as Annual Fixed Remuneration; &#8364;191</font><sup><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">(*)</font></sup><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> thousand and </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">26,531 </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> ADSs</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">
corresponding to 40% of the Annual Variable Remuneration for financial year
2017; and &#8364;376 thousand as remuneration in kind, which includes benefits for
his expatriate status in the United States.</font></font><a name="XBRL_TS_645a28f0096c448c895276484_bclEnd"></a><a name="XBRL_TS_c88d690f70b941b0ad35bc32a_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_9aabc81bdb784870970aa85c2"></a><font color=black face=Arial,sans-serif style="background:white;border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:9.0pt;">(*) &#160;Amounts
paid in US Dollars. Euro details are for information purposes.</font></font><a name="XBRL_TS_9aabc81bdb784870970aa85c2_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_3f86778d96014e08a2afc6fd5"></a><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#0070C0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#006EC1 face=Arial,sans-serif style="border:none;"><b><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Annual Variable Remuneration for executive directors for financial
year</font></b></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><b><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">2018 &nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_bc9d2f53300f4f6eacae0a265"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Following year-end 2018, the Annual Variable Remuneration for
executive directors corresponding to said period has been determined, applying
the conditions established at the beginning of the year, as established in the
Remuneration Policy for BBVA Directors approved by the General Meeting on 17
March 2017 with the following settlement and payment system:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The Upfront Portion (40%) of the Annual Variable Remuneration of
the executive directors for 2018 will be paid, if conditions are met, in equal
parts in cash and shares, during the first quarter of 2019, which amounts to
&#8364;479 thousand and 100,436 BBVA shares in the case of Carlos Torres Vila; and
&#8364;79 thousand and 16,641 BBVA shares in the case of Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo
Mart&#237;nez-Murillo.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-14.2pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The Deferred Portion (60%) remaining will be deferred for a
five-year period, subject to compliance with the multi-year performance
indicators determined by the Board of Directors at the start of financial year
2018, calculated over the first three-year deferral period. Provided that the
conditions are met, the resulting amount will vest (40% in cash and 60% in
shares), under the following schedule: 60% after the third year of deferral,
20% after the fourth year of deferral and the remaining 20% after the fifth
year of deferral. All the above is subject to the settlement and payment system
conditions set out in the Remuneration Policy for BBVA Directors, which
includes malus and clawback arrangements and retention periods for shares.</font></font><a name="XBRL_TS_bc9d2f53300f4f6eacae0a265_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_e012ea64955e4fcda2c54dc25"></a><font color=black face=Arial,sans-serif style="background:white;border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">As regards former Group Executive
Chairman,</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">
Francisco Gonz&#225;lez Rodr&#237;guez,</font><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">his
Annual Variable Remuneration for 2018 has been determined. This Annual Variable
Remuneration for 2018 will be received, provided that conditions are met, in
accordance with the same settlement and payment system applicable to executive
directors</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> which includes deferral rules, malus and clawback arrangements
and retention periods for shares</font><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">.</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">
</font><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">Thus,</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">the Upfront Portion (40%) has been determined in</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">:
&#8364;528 thousand and 110,814 BBVA shares. Accrual and payment of the Deferred
Portion (remaining 60%), 40% in cash and 60% in shares, will be subject to
compliance with multi-year performance indicators approved by the Board of
Directors. All the above is subject to the conditions of the settlement and
payment system established in the Remuneration Policy for BBVA Directors, which
includes malus and clawback arrangements and withholding periods for shares.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=black face=Arial,sans-serif style="background:white;border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">As regards CEO
Onur Gen&#231; and as aforementioned, his Annual Variable Remuneration for financial
year 2018 is linked to his previous position as Chairman and CEO of BBVA
Compass and has been determined in accordance with the settlement and payment
system applicable for such position.</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">Thus, providing that
applicable conditions are met, 40% of Annual Variable Remuneration for 2018
will be paid in the first quarter of 2019, amounting to a total of &#8364;196
thousand<sup>(*)</sup> and 41,267 BBVA shares.</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">Accrual and payment of the remaining 60% of the Annual
Variable Remuneration for financial year 2018, 50% in cash and 50% in shares,
will be deferred for a three-year period and will be subject to compliance with
multi-year performance indicators set by the Board of Directors for the whole
Identified Staff at the beginning of 2018 and measured over the course of the
three-year period.</font></font><a name="XBRL_TS_e012ea64955e4fcda2c54dc25_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=black face=Arial,sans-serif style="background:white;border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:9.0pt;">(*)&#160;
Euro details are for information purposes. Year-end 2018 exchange rate applied:
EUR/USD 1,145001.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=black face=Arial,sans-serif style="background:white;border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">At the time of
drafting of these consolidated Annual Accounts none of these remunerations have
been paid.
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The amounts corresponding to
deferred shares is detailed in the section &quot;Remuneration based on
Capital/Equity Instruments&quot; and the cash part in &quot;Other
Liabilities/Other Accruals&quot; in the consolidated balance sheet at 31
December 2018.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-14.2pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#0070C0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#006EC1 face=Arial,sans-serif style="border:none;"><b><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Deferred Annual Variable Remuneration of executive directors for
financial year</font></b></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><b><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">2015&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_7b1e3733fe174f5ebe90d7f05"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Following year-end 2018, the deferred Annual Variable Remuneration
of executive directors for financial year 2015 has been determined, with</font><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">delivery, if conditions are met,
corresponding during the first quarter of financial year 2019, </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">subject
to the conditions established for this purpose in the Remuneration Policy for
BBVA Directors approved by the General Meeting on 13 March 2015. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=black face=Arial,sans-serif style="background:white;border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">Thus, based on the
result of each of the multi-year performance indicators set by the Board in
2015 to calculate the deferred portion of this remuneration, and in application
of the corresponding scales of achievement and their corresponding targets and
weightings, likewise approved by the Board, the deferred portion of the </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Annual Variable Remuneration
for financial year 2015 </font><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">has been
adjusted downwards as a consequence of result of the TSR indicator, which scale
has determined a 10% reduction in the deferred amount associated to this
indicator. The final amount of the deferred portion of the Annual Variable Remuneration
for financial year 2015, after the corresponding adjustment in light of the
result of the TSR indicator, has been determined in an amount of &#8364;612 thousand
and 79,157 BBVA shares, in the case of Carlos Torres Vila, and &#8364;113 thousand
and 14,667 BBVA shares in the case of Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo
Mart&#237;nez-Murillo, which includes the corresponding updating.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=black face=Arial,sans-serif style="background:white;border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">As regards the
former Group Executive Chairman, Francisco Gonz&#225;lez Rodr&#237;guez, his deferred
Annual Variable Remuneration for financial year 2015 has been determined, to be
received, providing that conditions are met, in accordance with the same
settlement and payment system applicable to executive directors, amounting to a
total of &#8364;1,035 thousand and 133,947 BBVA shares, which includes the corresponding
updating.</font></font><a name="XBRL_TS_7b1e3733fe174f5ebe90d7f05_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=black face=Arial,sans-serif style="background:white;border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">At the time of
drafting of these consolidated Annual Accounts none of these remunerations have
been paid.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=black face=Arial,sans-serif style="background:white;border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">Lastly, as at
year-end 2018 and in accordance with the conditions established in the
remuneration policies applicable in the corresponding years, 50% and 60% of the
annual variable remuneration of the executive directors corresponding to 2016
and 2017 financial years, respectively, has been deferred, to be received in
future years, if applicable conditions are met, in accordance with the terms
established in the </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">remuneration policy applicable for each of such financial years</font><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:6.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=#5B9BD5 face=Arial,sans-serif style="border:none;"><b><font color=#5B9BD5 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Remuneration
received by the members of Senior Management in the 2018 financial year</font></b></font><font color=#5B9BD5 face=Arial,sans-serif style="border:none;"><font color=#5B9BD5 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The members of Senior Management, excluding
executive directors, who held that position as at 20 December 2018(*) (15
members) have, over the course of the 2018 financial year, received the amount
of the fixed remuneration corresponding to that financial year and the Annual
Variable Remuneration for the 2017 financial year, which, in accordance with
the settlement and payment system set out in the remuneration policy applicable
to Senior Management in this financial year, was due to be paid to them during
the first quarter of 2018. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In application of this settlement and payment
system:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">40% of the Annual Variable Remuneration due to members of the
Senior Management for the 2017 financial year, 40% has been paid, as the
conditions have been met, in the first quarter of the 2018 financial year (the
&quot;Upfront Portion&quot;), in equal parts in cash and in shares. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The remaining 60% of the Annual Variable Remuneration, in both
cash and shares, has been deferred in its entirety for a period of five years,
and its accrual and payment will be subject to compliance with a series of
multi-year indicators (the &quot;Deferred Portion&quot;). The application of
these indicators, calculated over the first three years of deferral, may lead
to a reduction of the Deferred Portion, even in its entirety, but in no event
may be increased. Provided that the relevant conditions have been met, the
resulting amount will then be paid (40% in cash and 60% in shares), according
to the following payment schedule: 60% in 2021, 20% in 2022 and the remaining
20% in 2023.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The shares received as Annual Variable Remuneration will be withheld
for a period of one year after their delivery, with the exception of those
transferred to honor the payment of taxes arising from their delivery.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The deferred portion of the Annual Variable Remuneration in cash
will be subject to updating under the terms established by the Board of
Directors.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">No personal hedging strategies or insurance may be used in
connection with the remuneration and the responsibility that may undermine the
effects of alignment with prudent risk management.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The variable component of the remuneration corresponding to the
financial year 2017 will be limited to a maximum amount of 200% of the fixed
component of the total remuneration, as agreed by the General Meeting.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Over the entire deferral and withholding period, the total Annual
Variable Remuneration will be subject to variable &quot;malus&quot; and
&quot;clawback&quot; arrangements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Similarly, in application of the settlement and
payment system of the annual variable remuneration for 2014 financial year, in
accordance with the remuneration policy applicable at that time, the Senior
Management who were beneficiaries of such remuneration, have received the
deferred last third of the annual variable remuneration for that financial
year, which delivery corresponded to the first quarter of 2018, thus concluding
payment of the deferred variable remuneration for the 2014 financial year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">(*) Date of the Board of
Directors&#8217; resolution by which organizational changes were approved in the
Group.</font></font><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-245</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_528"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
accordance with the above, the remuneration paid to members of the Senior
Management as a whole, who held that position as at 20 December 2018, excluding
executive directors, during the 2018 financial year is indicated below
(itemized):</font></font><a name="XBRL_TS_3f86778d96014e08a2afc6fd5_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=2 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Annual Fixed
  Remuneration (thousands of euro) received in 2018</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=75% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=25% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=75% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Senior Management
  total</font></font></p>
  </td>
 <td nowrap width=25% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,129</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:17.25pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Annual Variable
  Remuneration for the 2017 financial year, received in 2018 </font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=60% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">In cash</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">(thousands of euro)</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">In shares</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=60% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Senior Management
  total</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,489</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">205,104</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:18.0pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Deferred variable
  remuneration for the 2014 financial year, received in 2018</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=60% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">In cash</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">(thousands of euro)</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">In shares</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=60% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Senior Management
  total</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">573</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">64,853</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_TS_1a62b819a1de44c3af9cac249"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In addition, all members of Senior Management who held that
position as at 20 December 2018, excluding executive directors, received
remuneration in kind throughout the 2018 financial year, including insurance
premiums and others, amounting to a total of &#8364;875 thousand. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">At the year-end 2018 and subject to the
conditions established in the remuneration policies applicable to the
corresponding year for, components of the annual variable remuneration of
members of the Senior Management who were beneficiaries of remunerations for
the 2016 and 2017 financial years, are deferred to be received in future years,
if conditions are met, in accordance with the policy applicable for each of such
financial years.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As regards of those members of the Senior
Management who were appointed by resolution of BBVA's Board of Directors on 20
December 2018 (5 members) have not received any remuneration for such
condition, having received fixed and variable remuneration in line with their
former positions and functions amounting in aggregate &#8364;1,757 thousand as Annual
Fixed Remuneration; &#8364;337 thousand and 24,293 BBVA shares for Upfront Portion of
the Annual Variable Remuneration for the 2017 financial year; and &#8364;33 thousand
and 3,684 BBVA shares as settlement of the deferred last third of the Annual
Variable Remuneration for the 2014 financial year to the Senior Management who
were beneficiaries of such remuneration, including the corresponding update, as
well as remuneration in kind and others for an amount of &#8364;158 thousand, all in
application of the remuneration policy to which they were entitled in their
condition as risk taker.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-246</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-14.2pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#0070C0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#006EC1 face=Arial,sans-serif style="border:none;"><b><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Annual Variable Remuneration for Senior Management for financial
year 2018 </font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Following year-end 2018, the Annual Variable
Remuneration of Senior Management corresponding to said period has been
determined, excluding executive directors, who held that position as at 20
December 2018 (15 members)</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Therefore, the 2018 Annual Variable Remuneration
to all of the Senior Management, excluding executive directors, has been
determined in a total amount of &#8364;7,074 thousand, </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">in application of the settlement and payment
system</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> for this
group. T</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">he 40%
of the Annual Variable Remuneration corresponding to each of will be paid,
providing the conditions are met, in equal parts in cash and in shares, during
the first quarter of 2019. The remaining 60% of the Annual Variable
Remuneration (40% in cash and 60% in shares) will be subject to compliance with
a series of multi-year indicators and to the rest of the settlement and payment
system conditions set out in the remuneration policy applicable to Senior
Management, which includes malus and clawback arrangements and retention
periods for shares</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As regards </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">those members of the Senior Management who were
appointed by resolution of BBVA's Board of Directors on 20 December 2018 (5
members)</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">, their
Annual Variable Remuneration for the 2018 year-end has been calculated in line </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">with their former positions
and functions</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">, </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">amounting in aggregate &#8364;633
thousand</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">, </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">being subject to the
conditions set out in the remuneration policy to which they were entitled in
their condition as risk taker</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=black face=Arial,sans-serif style="background:white;border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">At the time of
drafting of these consolidated Annual Accounts none of these remunerations have
been paid.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-14.2pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#0070C0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#006EC1 face=Arial,sans-serif style="border:none;"><b><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Deferred Annual Variable Remuneration of Senior Management for
financial year</font></b></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><b><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">2015&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Following year-end 2018, the deferred Annual
Variable Remuneration of Senior Management </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">for financial year 2015 has been determined</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">, excluding executive
directors, who held that position as at 20 December 2018 (15 members). </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=black face=Arial,sans-serif style="background:white;border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">Thus, based on the
result of each of the multi-year performance indicators set by the Board in
2015 to calculate the deferred portion of this remuneration, and in application
of the corresponding scales of achievement and their corresponding targets and
weightings, likewise approved by the Board, the deferred portion of the </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Annual Variable Remuneration
for financial year 2015 </font><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">has been
adjusted downwards as a consequence of result of the TSR indicator, which scale
has determined a 10% reduction in the deferred amount associated to this
indicator. The final amount of the deferred portion of the Annual Variable
Remuneration for financial year 2015 to be paid to Senior Management beneficiaries
of such remuneration, if applicable conditions are met, after the corresponding
adjustment in light of the result of the TSR indicator, has been determined in
an amount of &#8364;2,936 thousand and 382,407 BBVA shares, which includes the
corresponding updating.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As regards </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">those members of the Senior Management who were
appointed by resolution of BBVA's Board of Directors on 20 December 2018 (5
members)</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> that
were entitled to such deferred remuneration, their </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Annual Variable Remuneration
for financial year 2015 </font><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">has been</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> calculated in line </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">with their former positions
and functions, amounting in aggregate &#8364;110 thousand</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 14,203 BBVA shares, </font></font><font color=black face=Arial,sans-serif style="background:white;border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">which
includes the corresponding updating</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">being subject to the conditions set out in the remuneration policy
to which they were entitled in their condition as a Group's</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">risk takers</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font color=black face=Arial,sans-serif style="background:white;border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:10.0pt;">At the time of
drafting of these consolidated Annual Accounts none of these remunerations have
been paid.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-247</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-14.2pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#0070C0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#006EC1 face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Remuneration system with deferred delivery of shares for
non-executive directors</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA has a remuneration system in shares with
deferred delivery for its non-executive directors, which was approved by the
General Shareholders' Meeting held on 18 March 2006 and extended by resolutions
of the General Shareholders' Meetings held on 11&nbsp;March 2011 and
11&nbsp;March 2016 for an additional period of five years in each case.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">This system involves the annual allocation to
non-executive directors of a number of &quot;theoretical shares&quot; of BBVA
equivalent to 20% of the total remuneration received in cash received by each
director in the previous financial year. This is calculated according to the
average closing prices of BBVA shares during the 60&nbsp;trading sessions prior
to the dates of the Annual General Shareholders' Meetings that approve the
corresponding financial statements for each financial year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">These shares will be delivered to each
beneficiary, where applicable, after they leave their positions as directors
for reasons other than serious breach of their duties.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The &quot;theoretical shares&quot; allocated in
2018 to each non-executive director beneficiaries of the remuneration system in
shares with deferred delivery, corresponding to 20% of the total remuneration
in cash received by each of them in 2017, are as follows:</font></font><a name="XBRL_TS_1a62b819a1de44c3af9cac249_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:40.5pt;">
  <td width=56% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:40.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=22% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Theoretical
  shares allocated in 2018</font></b></font></p>
  </td>
 <td width=22% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Theoretical shares
  accumulated as at 31 December 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Tom&#225;s Alfaro Drake</font></font></p>
  </td>
 <td nowrap width=22% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,367</font></font></p>
  </td>
 <td nowrap width=22% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">83,449</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Jos&#233; Miguel Andr&#233;s
  Torrecillas</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,755</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,565</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Bel&#233;n Garijo L&#243;pez</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,865</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,641</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Sunir Kumar Kapoor</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,811</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,976</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Carlos Loring
  Mart&#237;nez de Irujo</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,985</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">98,876</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Lourdes M&#225;iz Carro</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,454</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,160</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Jos&#233; Maldonado Ramos</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,176</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78,995</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Juan Pi Llorens</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,562</font></font></p>
  </td>
 <td nowrap width=22% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54,171</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Susana Rodr&#237;guez
  Vidarte</font></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,425</font></font></p>
  </td>
 <td nowrap width=22% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">104,983</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total (1)</font></b></font></p>
  </td>
 <td nowrap width=22% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90,400</font></b></font></p>
  </td>
 <td nowrap width=22% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">523,816</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-align:justify;"><a name="XBRL_FS_beb76611fc0741ef896d7a708"></a><a name="XBRL_TS_1169a843e6084c288b8267b75"></a><a name="XBRL_TS_e10a4f47cd394c66a71115078"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(1)&#160; In addition, in 2018, 10,188
&quot;theoretical shares&quot; were allocated to Jos&#233; Antonio Fern&#225;ndez Rivero,
who stepped down as a director on 16&nbsp;March 2018.</font></font><a name="XBRL_FS_beb76611fc0741ef896d7a708_bclEnd"></a><a name="XBRL_TS_1169a843e6084c288b8267b75_bclEnd"></a><a name="XBRL_TS_e10a4f47cd394c66a71115078_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_fe622e83a6b440ec9b9a646a8"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-248</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_531"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-14.2pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=#0070C0 face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font color=#006EC1 face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Pension commitments</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">At the end of the 2018 financial year, the Bank
has pension commitments in favor of the executive directors Carlos Torres Vila
and Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo to cover contingencies for
retirement, disability and death, in accordance with the Bylaws, the
Remuneration Policy for BBVA Directors and their respective contracts entered
into with the Bank.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With regard to Carlos Torres Vila, the
Remuneration Policy for BBVA Directors provides for a benefits framework
according to which he is entitled, provided that he does not leave his position
as Chief Executive Officer due to serious breach of duties, to receive a
retirement pension when he reaches the legally established retirement age, in
the form of capital or income. The amount of this pension shall result from the
funds accumulated by the Bank up to December 2016 to cover the commitments
under his previous benefits scheme, plus the sum of the annual contributions
made by the Bank from 1&nbsp;January 2017 to cover said pension, as well as the
corresponding accumulated yields. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The amount set out in the Remuneration Policy
for BBVA Directors as annual contribution to cover retirement benefit under the
defined-contribution scheme for Carlos Torres Vila is &#8364;1,642 thousand. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">15% of the aforementioned agreed annual
contribution will be based on variable components and considered
&quot;discretionary pension benefits&quot;, therefore subject to the conditions
regarding delivery in shares, retention and clawback established in the
applicable regulations, as well as any other conditions concerning variable
remuneration that may be applicable in accordance with this Policy.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Should the contractual relationship be
terminated before he reaches the retirement age for reasons other than serious
breach of duties, the retirement pension due to Carlos Torres Vila upon
reaching the legally established retirement age will be calculated based on the
total contributions made by the Bank under the terms set out, up to that date,
plus the corresponding accumulated yield, with no additional contributions to
be made by the Bank from the time of termination.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With respect to the commitments to cover the
contingencies for death and disability benefits for Carlos Torres Vila, the
Bank will undertake the payment of the corresponding annual insurance premiums
in order to top up the coverage the death and disability contingencies of his
benefits system.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In line with the above, during the 2018 financial year, &#8364;1,896
thousand has been recorded to meet the benefits commitments for Carlos Torres
Vila, amount which includes the contribution to the retirement contingency
(&#8364;1,642 thousand) and to death and disability (&#8364;212 thousand), as well as &#8364;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">42 thousand
corresponding to the adjustments made to the amount of </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&quot;discretionary
pension benefits&quot; from 2017, as declared at 2017 year-end and which had to
be recorded in the accumulated fund in 2018. As a result, the total accumulated
amount of the fund to meet retirement commitments with Carlos Torres Vila
amounts to &#8364;18,581 thousand as at 31 December 2018. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">15% of the agreed annual contribution to
retirement (&#8364;246 thousand) has been recognized in 2018 as &quot;discretionary
pension benefits&quot;. Following year-end 2018, this amount has been adjusted
according to the criteria established to determine Carlos Torres Vila's Annual
Variable Remuneration for 2018. Accordingly, the &quot;discretionary pension
benefits&quot; for the financial year have been determined in an amount of &#8364;245
thousand, which will be included in the accumulated fund for 2019, subject to
the same conditions as the Deferred Component of Annual Variable Remuneration
for 2018, as well as the remaining conditions established for these benefits in
the Remuneration Policy for BBVA Directors. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In the case of Jos&#233;&nbsp;Manuel Gonz&#225;lez-P&#225;ramo
Mart&#237;nez-Murillo, the pension system provided for in the Remuneration Policy
for BBVA Directors establishes an annual contribution of 30% of his Annual
Fixed Remuneration, to cover the contingency of his retirement, as well as the
payment of the corresponding insurance premiums in order to top up the coverage
of death and disability.</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-249</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_532"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">15% of the
aforementioned agreed annual contribution will be based on variable components
and considered &quot;discretionary pension benefits&quot;, therefore subject to
the conditions regarding delivery in shares, retention and clawback established
in the applicable regulations, as well as any other conditions concerning
variable remuneration that may be applicable in accordance with this Policy.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo,
upon reaching retirement age, will be entitled to receive, in the form of
capital or income, the benefits arising from contributions made by the Bank to
cover pension commitments, plus the corresponding yield accumulated up to that
date, provided he does not leave his position due to serious breach of duties.
In the event of voluntary termination of contractual relationship by the
director before retirement, the benefits will be limited to 50% of the
contributions made by the Bank up to that date, as well as the corresponding
accumulated yield, with no additional contributions to be made by the Bank upon
termination. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">With respect to the commitments to cover the
contingencies for death and disability benefits for </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Jos&#233; Manuel
Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">, the Bank will undertake the
payment of the corresponding annual insurance premiums in order to top up the
coverage the death and disability contingencies of his benefits system.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In line with the above, during the 2018
financial year, &#8364;405 thousand has been recorded to meet the benefits
commitments for Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo, amount which
includes the contribution to the retirement contingency (&#8364;250 thousand) and to
death and disability (&#8364;147 thousand), as well as &#8364;8 thousand corresponding to
the adjustments made to the amount of &quot;discretionary pension
benefits&quot; from 2017, as declared at 2017 year-end and which had to be
recorded in the accumulated fund in 2018. As a result, the total accumulated
amount of the fund to meet retirement commitments with Jos&#233; Manuel
Gonz&#225;lez-P&#225;ramo amounts to &#8364;1,067 thousand as at 31 December 2018. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">15% of the agreed annual contribution to
retirement (&#8364;38 thousand) has been recognized in 2018 as &quot;discretionary
pension benefits&quot;. Following year-end 2018, this amount has been adjusted
according to the criteria established to determine </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Jos&#233; </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Manuel
Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo&#8217;s Annual Variable Remuneration for 2018.
Accordingly, the &quot;discretionary pension benefits&quot; for the financial
year have been determined in an amount of &#8364;42 thousand, which will be included
in the accumulated fund for 2019, subject to the same conditions as the
Deferred Component of Annual Variable Remuneration for 2018, as well as the
remaining conditions established for these benefits in the Remuneration Policy
for BBVA Directors. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of 31 December 2018 there are no other
pension commitments undertaken in favor of other executive directors. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Likewise, during the 2018 financial year,
&#8364;4,754 thousand has been recorded to meet the benefits commitments undertaken
with members of the Senior Management, excluding executive directors, who held
said position as at 20 December 2018 (15 members), amount which includes the
contribution to the retirement contingency (&#8364;3,883 thousand) and to death and
disability (&#8364;831 thousand), as well as &#8364;40 thousand corresponding to the
adjustments made to the amount of &quot;discretionary pension benefits&quot;
from 2017, as declared at 2017 year-end and which had to be recorded in the
accumulated fund in 2018. As a result, the total accumulated amount of the fund
to meet retirement commitments with Senior Management amounts to &#8364;57,429
thousand as at 31 December 2018. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">15% of the agreed annual contributions for
members of Senior Management who held that position as at 20 December 2018 will
be based on variable components and considered &quot;discretionary pension
benefits&quot;, therefore subject to the conditions regarding delivery in
shares, retention and clawback established in the applicable regulations, as
well as any other conditions concerning variable remuneration that may be
applicable in accordance with the remuneration policy applicable to members of
Senior Management.</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-250</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_533"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">To this
end, of the agreed annual contribution to retirement, an amount of &#8364;571
thousand has been recognized in 2018 as &quot;discretionary pension
benefits&quot;. Following year-end 2018, this amount has been adjusted
according to the criteria established to determine the Annual Variable
Remuneration of the Senior Management for 2018. Accordingly, the
&quot;discretionary pension benefits&quot; for the financial year,
corresponding to members of the Senior Management who held that position as at
20 December 2018, have been determined in an amount of &#8364;555 thousand, which
will be included in the accumulated fund for 2019, subject to the same
conditions as the Deferred Component of Annual Variable Remuneration for 2018,
as well as the remaining conditions established for these benefits in the
remuneration policy applicable to members of the Senior Management.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">During the 2018 financial year, &#8364;146 thousand
has been recorded to meet the benefits commitments undertaken with the members
of the Senior Management, excluding executive directors, who were appointed by
BBVA's Board of Directors on 20 December 2018 (five members), pursuant to the
commitments made by the Bank with each of them in relation to their previous
positions and functions, with such amount including both the contribution to
retirement contingency(&#8364;97 thousand) as well as to death and disability (&#8364;49
thousand), with the fund accumulated to meet retirement commitments for this
group amounting to a total of &#8364;1,713 thousand.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font color=#006EC1 face=Arial,sans-serif style="border:none;"><b><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Termination of the contractual relationship</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In accordance with the Remuneration Policy for
BBVA Directors, the Bank has no commitments to pay severance payments to
executive directors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The contractual framework defined in the
aforementioned Policy for Carlos Torres Vila and for the executive director
Jos&#233; Manuel Gonz&#225;lez-P&#225;ramo Mart&#237;nez-Murillo, includes a post-contractual
non-compete agreement for a period of two years after they cease as BBVA
executive directors, in accordance to which they will receive remuneration from
the Bank for an amount equivalent to one Annual Fixed Remuneration for each
year of duration of the non-compete arrangement , which shall be paid
periodically over the course of the two years, provided that they leave their
positions as executive directors for reasons other than retirement, disability
or serious breach of duties.</font></font><a name="XBRL_TS_fe622e83a6b440ec9b9a646a8_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-251</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_534"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc284233789"></a><a name="_Toc376950031"></a><a name="_Toc331691329"></a><a name="XBRL_TS_874412697660468081db01e94"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">55. </font></b></font><a name="_Toc106091"></a><a name="_Toc505355988"></a><a name="_Toc495478169"></a><a name="_Toc481589117"></a><a name="_Toc474142341"></a><a name="_Toc457490062"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">&#160;&#160;Other
information</font></b></font><a name="XBRL_TS_874412697660468081db01e94_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_104b912b63d94c73ad0fac7f5"></a><a name="_Toc106092"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">55.1&#160;
Environmental impact</font></b></font><a name="XBRL_TS_104b912b63d94c73ad0fac7f5_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_736d60a33f7748e6a39e86dc5"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Given the
activities BBVA Group entities engage in, the Group has no environmental
liabilities, expenses, assets, provisions or contingencies that could have a
significant effect on its consolidated equity, financial situation and profits.
Consequently, as of December 31, 2018, there is no item in the Group&#8217;s
accompanying consolidated financial statements that requires disclosure in an
environmental information report pursuant to Ministry of Justice Order
JUS/471/2017, of May 19, and consequently no specific disclosure of information
on environmental matters is included in these financial statements.</font></font><a name="XBRL_TS_736d60a33f7748e6a39e86dc5_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_d8b14c18d1754a58b534400b4"></a><a name="_Toc106093"></a><a name="_Toc474142343"></a><a name="_Toc376972437"></a><a name="_Toc376950029"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">55.2&#160;
Reporting requirements of the Spanish National Securities Market Commission
(CNMV)</font></b></font><a name="XBRL_TS_d8b14c18d1754a58b534400b4_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_0d4f164844eb4d4781522de50"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Dividends paid in the year</font></font><a name="XBRL_TS_0d4f164844eb4d4781522de50_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_57b408b3f19c45f5b08dea3bd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The table
below presents the dividends per share paid in cash during 2018, 2017 and 2016
(cash basis dividend, regardless of the year in which they were accrued), but
without including other shareholder remuneration, such as the &#8220;Dividend
Option&#8221;. See Notes 4 and 26 for a complete analysis of all remuneration awarded
to the shareholders.</font></font><a name="XBRL_TS_57b408b3f19c45f5b08dea3bd_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=10 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Dividends Paid
  (&quot;Dividend Option&quot; not included)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=25% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2016</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:39.0pt;">
  <td width=25% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">% Over Nominal</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Euros per Share</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Amount (Millions of Euros)</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">% Over Nominal</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Euros per Share</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Amount (Millions of Euros)</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">% Over Nominal</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Euros per Share</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Amount (Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=25% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Ordinary shares</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">51.02%</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.25</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,667</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">34.69%</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.17</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,125</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">32.65%</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.16</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,028</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=25% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Rest of shares</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=25% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">Total dividends paid
  in cash </font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">51.02%</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.25</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,667</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">34.69%</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.17</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,125</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">32.65%</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.16</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,028</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=25% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Dividends with charge
  to income</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">51.02%</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.25</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,667</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">34.69%</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.17</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,125</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">32.65%</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.16</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,028</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=25% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Dividends with charge
  to reserve or share premium</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=25% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Dividends in kind</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_f1cdd31516e14b729aa719bc0"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-252</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_535"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Ordinary earnings and
ordinary income by operating segment</font></font><a name="XBRL_TS_f1cdd31516e14b729aa719bc0_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_8e50d9f3d4c74fbba360dc3cf"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The detail
of the consolidated profit for each operating segment is as follows as of
December 31 2018, 2017 and 2016:</font></font><a name="XBRL_TS_8e50d9f3d4c74fbba360dc3cf_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Profit Attributable
  by Operating Segments</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Banking Activity in
  Spain</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,522</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,374</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">912</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-Core Real Estate</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(78)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(490)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(595)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">United States</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">735</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">486</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">459</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,384</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,187</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,980</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">569</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">826</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">599</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">591</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">861</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">771</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of Eurasia</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">93</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">125</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">151</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal
  operating segments</font></b></font></p>
  </td>
 <td width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,818</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,368</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#33CCCC;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,276</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Corporate Center</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(494)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,848)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(801)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Profit attributable
  to parent company</font></b></font></p>
  </td>
 <td width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,324</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,519</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,475</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-assigned income</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Elimination of
  interim income (between segments)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other gains (losses)
  (*)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">827</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,243</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,218</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Income tax and/or
  profit from discontinued operations </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,295</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,169</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,699</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Operating
  profit before tax</font></b></font></p>
  </td>
 <td width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,446</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,931</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,392</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_FS_5e9ae98390594f1cb6793fb53"></a><a name="XBRL_TS_4c82fd7427fc44afbd1b72325"></a><a name="XBRL_TS_a6e3baccd7464e3397884fcfd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*) &#160;Profit attributable to non-controlling interests.</font></font><a name="XBRL_FS_5e9ae98390594f1cb6793fb53_bclEnd"></a><a name="XBRL_TS_4c82fd7427fc44afbd1b72325_bclEnd"></a><a name="XBRL_TS_a6e3baccd7464e3397884fcfd_bclEnd"></a></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><a name="XBRL_TS_a503bb1dcbc94248bdc59edb9"></a><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Interest income by geographical area</font></font><a name="XBRL_TS_a503bb1dcbc94248bdc59edb9_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_ed49629a4d684358b21efe687"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
breakdown of the balance of &#8220;Interest income and other income&#8221; in the
accompanying consolidated income statements by geographical area is as follows:</font></font><a name="XBRL_TS_ed49629a4d684358b21efe687_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:18.0pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Interest Income.
  Breakdown by geographical area (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=56% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Domestic </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,952 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,093 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,962 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Foreign</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,879 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,203 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,745 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">European Union</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">509 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">422 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">291 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Eurozone</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">391 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">239 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">291 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">No eurozone</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">117 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">183 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other countries</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,370 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,781 </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,455 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37.1</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,831</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,296</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#003366;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,708</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=ES-TRAD style="font-size:10.0pt;">&nbsp;</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-253</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif lang=ES-TRAD style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="XBRL_TS_7fb0923566954daa9d3caee7a"></a><a name="_Toc106095"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:16.0pt;">56.&#160;&#160;
Subsequent events</font></b></font><a name="XBRL_TS_7fb0923566954daa9d3caee7a_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_CS_56d8b2748a7545d9bfb1c47c1"></a><a name="XBRL_TS_c883725254f44c70bd2bc68aa"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">On January 15, 2019, BBVA announced its irrevocable decision to
early redeem, on February 19, 2019, the issuance </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">of preferred securities
contingently convertible (additional tier 1 instrument) carried out by the Bank
on February 19, 2014, for an amount of &#8364;1.5 billion on the First Reset Date of
the issuance and once the prior consent from the Regulator was obtained (see
Note 22.4). </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The Board of Directors, in their meeting on January 31, 2019,
agreed on carrying out an issuance of bonds convertible into ordinary shares of
BBVA with exclusion of pre-emptive subscription rights, under the power
delegated by the General Shareholders' Meeting of the Company held on March 17,
2017 under the fifth item on the agenda which is pending to be executed.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On February 1, 2019 it was announced that it was foreseen to
submit to the consideration of the corresponding government bodies the proposal
of cash payment in a gross amount of euro 0.16 per share to be paid in April as
final dividend for 2018 (see Note 4).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On February 14, 2019, the results of the supervisory review and
evaluation process (SREP) were announced.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">On 19 February, BBVA announced the irrevocable decision to early
redeem, on April 11, the issuance of subordinated bonds (Subordinated Notes)
that has been computed as Tier 2 capital for an amount of &#8364;1.5 billion, coinciding
with the Optional Amortization date of said issue, and </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">once the prior consent from
the Regulator has been obtained</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">From January 1, 2019 to the date of preparation of these
Consolidated Financial Statements, no other subsequent events not mentioned
above </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">in
these financial statements have taken place that could significantly affect the
Group&#8217;s earnings or its equity position</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.</font></font><a name="XBRL_CS_56d8b2748a7545d9bfb1c47c1_bclEnd"></a><a name="XBRL_TS_c883725254f44c70bd2bc68aa_bclEnd"></a></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-254</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"></font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><img alt="BBVA Group RGB+" border=0 height=106 id="Picture 1" src="maindocument001x536x0.jpg" width=430></font>&nbsp;</p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font style="border:none;"><b><font color=#0070C0 face=Arial,sans-serif lang=EN-US style="font-size:36.0pt;line-height:115%;">Appendices</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></b></font></p>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>



<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc505355993"></a><a name="_Toc106097"></a><a name="_Toc481589120"></a><a name="_Toc495478172"></a><a name="_Toc505355991"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-255</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">APPENDIX I
Additional information on consolidated subsidiaries and consolidated structured
entities composing the BBVA Group</font></b></font></p>

<p align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:left;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional Information on Consolidated Subsidiaries
and consolidated structured entities composing the BBVA Group</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td width=21% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=8% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">% Legal share of participation</font></b></font></p>
  </td>
 <td colspan=5 width=42% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=21% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=42% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Affiliate Entity Data</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.75pt;">
  <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Direct</font></b></font></p>
  </td>
 <td width=6% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=6% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Net Carrying Amount</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Assets</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Liabilities</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Profit (Loss) </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ACTIVOS MACORP SL</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.63</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49.37</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ALCALA 120 PROMOC. Y
  GEST.IMMOB. S.L.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ANIDA GERMANIA IMMOBILIEN
  ONE, GMBH</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GERMANY</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ANIDA GRUPO
  INMOBILIARIO SL</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,569</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,642</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,863</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(259)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ANIDA INMOBILIARIA,
  S.A. DE C.V.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">113</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">80</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">59</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ANIDA OPERACIONES
  SINGULARES, S.A.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,485</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,381</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">893</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,678</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(190)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ANIDA PROYECTOS
  INMOBILIARIOS, S.A. DE C.V.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">57</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ANIDAPORT
  INVESTIMENTOS IMOBILIARIOS, UNIPESSOAL, LTDA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PORTUGAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">62</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">APLICA NEXTGEN
  OPERADORA S.A. DE C.V.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">APLICA NEXTGEN
  SERVICIOS S.A. DE C.V</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">APLICA TECNOLOGIA
  AVANZADA SA DE CV</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">203</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">232</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">214</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARIZONA FINANCIAL
  PRODUCTS, INC</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">855</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">855</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">855</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARRAHONA AMBIT, S.L.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">34</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARRAHONA IMMO, S.L.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">118</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">105</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARRAHONA NEXUS, S.L.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">58</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">131</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">67</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">58</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARRAHONA RENT, S.L.U.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ARRELS CT FINSOL,
  S.A.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">64</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">114</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">35</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">64</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ARRELS CT LLOGUER,
  S.A.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ARRELS CT PATRIMONI I
  PROJECTES, S.A.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARRELS CT PROMOU SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">AZLO BUSINESS, INC</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BAHIA SUR RESORT S.C.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INACTIVE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.95</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.95</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANCO BILBAO VIZCAYA
  ARGENTARIA URUGUAY SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">URUGUAY</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">110</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,850</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,652</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">168</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANCO INDUSTRIAL DE
  BILBAO SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.93</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.93</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">45</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(15)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANCO OCCIDENTAL SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49.43</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.57</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANCO PROVINCIAL
  OVERSEAS NV</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CURA&#199;AO</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">48</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">403</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">355</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">44</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANCO PROVINCIAL SA -
  BANCO UNIVERSAL</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1.46</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53.75</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55.21</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">296</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">174</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">140</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(18)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANCOMER FOREIGN EXCHANGE
  INC.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANCOMER PAYMENT
  SERVICES INC.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBV AMERICA SL</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">79</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">614</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">604</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA AGENCIA DE
  SEGUROS COLOMBIA LTDA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COLOMBIA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA ASSET MANAGEMENT
  CONTINENTAL SA SAF</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERU</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td width=21% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA ASSET MANAGEMENT
  SA SGIIC</font></font></p>
  </td>
 <td width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">OTHER INVESTMENT
  COMPANIES</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">83.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">111</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(41)</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">98</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA ASSET MANAGEMENT
  SA SOCIEDAD FIDUCIARIA (BBVA FIDUCIARIA)</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COLOMBIA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA AUTOMERCANTIL
  COMERCIO E ALUGER DE VEICULOS AUTOMOVEIS LDA.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PORTUGAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA BANCO CONTINENTAL SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERU</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46.12</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46.12</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">998</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19,382</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,212</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,747</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">423</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA BANCO FRANCES SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39.97</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26.58</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">66.55</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">157</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,189</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,166</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,047</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(23)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA BANCOMER
  GESTION, S.A. DE C.V.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA BANCOMER
  OPERADORA, S.A. DE C.V.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">69</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">269</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">199</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=21% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA BANCOMER SA
  INSTITUCION DE BANCA MULTIPLE GRUPO FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td width=8% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=10% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=7% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:11.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,633</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">87,919</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">79,560</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,374</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,985</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=11 width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(*)&#160; Information on
  foreign companies at exchange rate on December 31, 2018</font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-256</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_539"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:left;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional Information on Consolidated </font></b></font><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Subsidiaries</font></b></font><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;"> and structured entities
composing the BBVA Group (Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td width=23% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=8% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#002060 face=Arial,sans-serif style="border:none;"><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">% Legal share of participation</font></b></font></p>
  </td>
 <td colspan=5 width=41% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=23% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><font color=#002060 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=8% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=41% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Affiliate Entity Data</font></b></font></p>
  </td>
 </tr>
<tr style="height:39.0pt;">
  <td width=23% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Direct</font></b></font></p>
  </td>
 <td width=6% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=6% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Net Carrying Amount</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Assets</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Liabilities</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Profit (Loss) </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA BANCOMER SEGUROS
  SALUD SA DE CV</font></font></p>
  </td>
 <td width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA BANCOMER
  SERVICIOS ADMINISTRATIVOS, S.A. DE C.V.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">197</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">159</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA BRASIL BANCO DE
  INVESTIMENTO SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BRASIL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA BROKER
  CORREDURIA DE SEGUROS Y REASEGUROS SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.94</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.06</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA BROKER SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.99</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.99</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA COLOMBIA SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COLOMBIA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">77.41</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18.06</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">95.47</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">355</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,793</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15,572</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,035</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">186</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA COMPASS
  BANCSHARES INC</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,703</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,817</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,131</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">645</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA COMPASS
  FINANCIAL CORPORATION</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">230</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">432</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">210</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">217</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA COMPASS
  INSURANCE AGENCY, INC</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA COMPASS PAYMENTS
  INC</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">88</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">88</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">73</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA CONSOLIDAR
  SEGUROS SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">87.78</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12.22</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">82</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA CONSULTING (
  BEIJING) LIMITED</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CHINA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA CONSULTORIA,
  S.A.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=23% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA CONSUMER FINANCE
  ENTIDAD DE DESARROLLO A LA PEQUE&#209;A Y MICRO EMPRESA EDPYME SA (BBVA CONSUMER
  FINANCE - EDPYME)</font></font></p>
  </td>
 <td width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERU</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">135</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">115</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA DATA &amp;
  ANALYTICS SL</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA DISTRIBUIDORA DE
  SEGUROS S.R.L.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">URUGUAY</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA FINANZIA SPA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ITALY</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td width=23% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA FRANCES ASSET
  MANAGMENT S.A. SOCIEDAD GERENTE DE FONDOS COMUNES DE INVERSI&#211;N.</font></font></p>
  </td>
 <td width=8% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td width=10% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA FRANCES VALORES,
  S.A.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SECURITIES DEALER</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td width=23% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA FUNDOS S.GESTORA
  FUNDOS PENSOES SA</font></font></p>
  </td>
 <td width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PORTUGAL</font></font></p>
  </td>
 <td width=10% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PENSION FUNDS
  MANAGEMENT</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA GLOBAL FINANCE
  LTD</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CAYMAN ISLANDS</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">179</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">175</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA GLOBAL MARKETS
  BV</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">NETHERLANDS</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,562</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,561</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA HOLDING CHILE SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CHILE</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">61.22</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38.78</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">139</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">348</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">273</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA INFORMATION
  TECHNOLOGY ESPA&#209;A SL</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">76.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">76.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA INSTITUI&#199;AO
  FINANCEIRA DE CREDITO SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PORTUGAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49.90</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.10</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">422</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">369</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA INTERNATIONAL
  PREFERRED SOCIEDAD ANONIMA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">36</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">35</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA IRELAND PLC</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IRELAND</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">48</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA LEASING MEXICO
  SA DE CV</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">888</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">751</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">127</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td width=23% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA LUXINVEST SA</font></font></p>
  </td>
 <td width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LUXEMBOURG</font></font></p>
  </td>
 <td width=10% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PENSION FUNDS MANAGEMENT</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">36.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">64.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA MEDIACION
  OPERADOR DE BANCA-SEGUROS VINCULADO, S.A.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">96</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">69</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA NEXT
  TECHNOLOGIES SLU</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA NOMINEES LIMITED
  </font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED KINGDOM</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA OP3N S.L.</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA OPEN PLATFORM INC</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(7)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA PARAGUAY SA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PARAGUAY</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,923</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,741</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">150</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td width=23% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA PENSIONES SA
  ENTIDAD GESTORA DE FONDOS DE PENSIONES</font></font></p>
  </td>
 <td width=8% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PENSION FUNDS
  MANAGEMENT</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA PLANIFICACION
  PATRIMONIAL SL</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">80.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td width=23% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA PREVISION AFP SA
  ADM.DE FONDOS DE PENSIONES</font></font></p>
  </td>
 <td width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BOLIVIA</font></font></p>
  </td>
 <td width=10% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PENSION FUNDS
  MANAGEMENT</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">80.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA PROCUREMENT
  SERVICES AMERICA DEL SUR SpA</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CHILE</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=23% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RE DAC</font></font></p>
  </td>
 <td width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IRELAND</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">68</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">48</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=11 width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(*)&#160; Information on
  foreign companies at exchange rate on December 31, 2018</font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-257</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_540"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:left;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional Information on Consolidated Subsidiaries
and structured entities composing the BBVA Group (Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td width=26% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">%&#160; Legal share of participation</font></b></font></p>
  </td>
 <td colspan=5 width=35% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=35% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Affiliate Entity Data</font></b></font></p>
  </td>
 </tr>
<tr style="height:39.0pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Direct</font></b></font></p>
  </td>
 <td width=6% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=6% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Net Carrying Amount</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Assets</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Liabilities</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Profit (Loss) </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA REAL ESTATE
  MEXICO, S.A. DE C.V.</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SECURITIES INC</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">192</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">398</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">205</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">187</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SEGUROS COLOMBIA
  SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COLOMBIA</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">94.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">90</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">68</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SEGUROS DE VIDA
  COLOMBIA SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COLOMBIA</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">94.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">402</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">282</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">86</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">33</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SEGUROS SA DE
  SEGUROS Y REASEGUROS</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.96</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.96</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">713</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,303</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,509</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">484</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">309</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SERVICIOS, S.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMMERCIAL</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SUIZA SA (BBVA
  SWITZERLAND)</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SWITZERLAND</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">98</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">832</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">719</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">108</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA TRADE, S.A. (**)</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA TRANSFER
  SERVICES INC</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">66</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">118</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">57</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA VALORES COLOMBIA
  SA COMISIONISTA DE BOLSA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COLOMBIA</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SECURITIES DEALER</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA WEALTH
  SOLUTIONS, INC.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BEEVA TEC OPERADORA,
  S.A. DE C.V.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BEEVA TEC SA DE CV</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BILBAO VIZCAYA
  HOLDING SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">89.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">234</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">141</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">90</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CAIXA MANRESA
  IMMOBILIARIA ON CASA SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CAIXA MANRESA
  IMMOBILIARIA SOCIAL SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CAIXA TERRASSA SOCIETAT
  DE PARTICIPACIONS PREFERENTS SAU</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">76</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">74</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CAIXASABADELL
  PREFERENTS SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">91</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">90</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CARTERA E INVERSIONES
  SA CIA DE</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">92</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">224</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">120</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(83)</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">186</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CASA DE BOLSA BBVA
  BANCOMER SA DE CV</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SECURITIES DEALER</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">48</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">57</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CATALONIA GEBIRA,
  S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CATALONIA PROMODIS 4,
  S.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CATALUNYACAIXA
  CAPITAL SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">79</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">88</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">76</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CATALUNYACAIXA
  IMMOBILIARIA SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">328</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">324</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">303</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CATALUNYACAIXA
  SERVEIS SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CDD GESTIONI S.R.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ITALY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CETACTIUS SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CIDESSA DOS, S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CIDESSA UNO SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">283</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">251</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(50)</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">83</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CIERVANA SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CLUB GOLF HACIENDA EL
  ALAMO, S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">97.87</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">97.87</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMERCIALIZADORA
  CORPORATIVA SAC</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERU</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMERCIALIZADORA DE
  SERVICIOS FINANCIEROS, S.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COLOMBIA</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMPA&#209;IA CHILENA DE INVERSIONES SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.97</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.03</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">221</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">719</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">280</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(59)</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">498</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMPASS BANK</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,950</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">84,383</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">73,398</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,267</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">718</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMPASS CAPITAL
  MARKETS, INC.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,203</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,203</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,116</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">88</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMPASS GP, INC.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMPASS INSURANCE
  TRUST</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMPASS LIMITED
  PARTNER, INC.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,305</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,305</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,218</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">87</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">COMPASS LOAN HOLDINGS
  TRS, INC.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">72</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">72</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">71</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=11 width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(*)&#160;&#160; Information on
  foreign companies at exchange rate on December 31, 2018</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=11 width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(**) This company has
  an equity loan from CARTERA E INVERSIONES S.A., CIA DE. </font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-258</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_541"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:left;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional Information on Consolidated Subsidiaries
and structured entities composing the BBVA Group (Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td width=26% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#002060 face=Arial,sans-serif style="border:none;"><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">%&#160; Legal share of participation</font></b></font></p>
  </td>
 <td colspan=5 width=35% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><font color=#002060 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=35% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Affiliate Entity Data</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Direct</font></b></font></p>
  </td>
 <td width=6% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=6% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Net Carrying Amount</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Assets</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Liabilities</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Profit (Loss) </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMPASS MORTGAGE
  CORPORATION</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,857</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,950</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">98</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,783</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">69</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMPASS MORTGAGE
  FINANCING, INC.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMPASS SOUTHWEST, LP</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,213</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,229</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,151</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">73</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">COMPASS TEXAS
  MORTGAGE FINANCING, INC</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CONSOLIDAR A.F.J.P SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53.89</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CONTENTS AREA, S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CONTINENTAL BOLSA
  SDAD. AGENTE DE BOLSA SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERU&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SECURITIES DEALER</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">103</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">98</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CONTINENTAL DPR
  FINANCE COMPANY</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CAYMAN ISLANDS</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CONTINENTAL SOCIEDAD
  TITULIZADORA SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERU&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  </font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CONTRATACION DE
  PERSONAL, S.A. DE C.V.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COPROMED SA DE CV</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CORPORACION GENERAL
  FINANCIERA SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">510</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,577</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,642</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(65)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COVAULT, INC</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DALLAS CREATION
  CENTER, INC</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">DATA ARCHITECTURE AND
  TECHNOLOGY S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DENIZEN FINANCIAL,
  INC</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DENIZEN GLOBAL
  FINANCIAL SAU</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PAYMENT ENTITIE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DEUTSCHE BANK MEXICO
  SA FIDEICOMISO F/1859</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DEUTSCHE BANK MEXICO
  SA FIDEICOMISO F/1860</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISTRITO CASTELLANA
  NORTE, S.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75.54</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75.54</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">98</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">147</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">133</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ECASA, S.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CHILE</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">EL ENCINAR
  METROPOLITANO, S.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.05</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.05</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">EL MILANILLO, S.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">EMPRENDIMIENTOS DE
  VALOR S.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">URUGUAY&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  </font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ENTIDAD DE PROMOCION
  DE NEGOCIOS SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HOLDING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.88</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.88</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ENTRE2 SERVICIOS
  FINANCIEROS E.F.C SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ESPAIS SABADELL
  PROMOCIONS INMOBILIARIES, S.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">EUROPEA DE
  TITULIZACION SA SGFT .</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">88.24</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">88.24</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">34</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">EXPANSION
  INTERCOMARCAL SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td width=26% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">F/11395 FIDEICOMISO
  IRREVOCABLE DE ADMINISTRACION CON DERECHO DE REVERSION</font></font></p>
  </td>
 <td width=9% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42.40</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42.40</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">F/253863 EL DESEO
  RESIDENCIAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">65.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">65.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">F/403035-9 BBVA
  HORIZONTES RESIDENCIAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  </font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">65.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">65.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO 28991-8
  TRADING EN LOS MCADOS FINANCIEROS</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td width=26% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO F/29764-8
  SOCIO LIQUIDADOR DE OPERACIONES FINANCIERAS DERIVADAS</font></font></p>
  </td>
 <td width=9% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO F/403112-6 DE ADMINISTRACION DOS LAGOS</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO HARES
  BBVA BANCOMER F/ 47997-2</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO LOTE 6.1
  ZARAGOZA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COLOMBIA&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  </font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">59.99</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">59.99</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td width=26% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO N.989 EN
  THE BANK OF NEW YORK MELLON SA INSTITUCION DE BANCA MULTIPLE FIDUCIARIO
  (FIDEIC.00989 6 EMISION)</font></font></p>
  </td>
 <td width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">79</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">79</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=11 width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(*)&#160; Information on
  foreign companies at exchange rate on December 31, 2018</font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-259</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_542"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:left;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional Information on Consolidated Subsidiaries
and structured entities composing the BBVA Group (Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td width=26% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">%&#160; Legal share of participation</font></b></font></p>
  </td>
 <td colspan=5 width=35% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=35% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Affiliate Entity Data</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Direct</font></b></font></p>
  </td>
 <td width=6% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=6% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Net Carrying Amount</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Assets</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Liabilities</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Profit (Loss) </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td width=26% style="border:none;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO N&#186; 711 EN
  BANCO INVEX SA INSTITUCION DE BANCA MULTIPLE INVEX GRUPO FINANCIERO
  FIDUCIARIO (FIDEIC. INVEX 1&#170; EMISION)</font></font></p>
  </td>
 <td width=9% style="border:none;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="border:none;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td width=26% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO N&#186; 752 EN
  BANCO INVEX SA INSTITUCION DE BANCA MULTIPLE INVEX GRUPO FINANCIERO
  FIDUCIARIO (FIDEIC. INVEX 2&#170; EMISION)</font></font></p>
  </td>
 <td width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td width=26% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO N&#186; 847 EN
  BANCO INVEX SA INSTITUCION DE BANCA MULTIPLE INVEX GRUPO FINANCIERO
  FIDUCIARIO (FIDEIC. INVEX 4&#170; EMISION)</font></font></p>
  </td>
 <td width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FIDEICOMISO
  SCOTIABANK INVERLAT S A F100322908</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCEIRA DO
  COMERCIO EXTERIOR SAR.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PORTUGAL</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INACTIVE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIERA AYUDAMOS
  S.A. DE C.V., SOFOMER</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FOMENTO Y DESARROLLO
  DE CONJUNTOS RESIDENCIALES S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FORUM
  COMERCIALIZADORA DEL PERU SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERU</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FORUM DISTRIBUIDORA
  DEL PERU SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERU</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FORUM DISTRIBUIDORA,
  S.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CHILE</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">373</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">336</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FORUM SERVICIOS
  FINANCIEROS, S.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CHILE</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">244</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,014</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,785</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">161</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">68</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FUTURO FAMILIAR, S.A.
  DE C.V.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">G NETHERLANDS BV</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">NETHERLANDS</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">340</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">348</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">299</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARANTI BANK SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ROMANIA</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">269</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,216</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,930</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">258</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARANTI BILISIM
  TEKNOLOJISI VE TIC TAS</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GARANTI DIVERSIFIED
  PAYMENT RIGHTS FINANCE COMPANY</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CAYMAN ISLANDS</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,316</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,321</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GARANTI EMEKLILIK VE
  HAYAT AS</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">84.91</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">84.91</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">126</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">266</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">120</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">67</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">79</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARANTI FACTORING
  HIZMETLERI AS</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">81.84</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">81.84</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">399</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">376</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARANTI FILO SIGORTA
  ARACILIK HIZMETLERI A.S.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARANTI FILO YONETIM
  HIZMETLERI A.S.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">OTHER HOLDING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">302</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">301</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARANTI FINANSAL
  KIRALAMA AS</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">149</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">995</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">846</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">133</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARANTI HIZMET
  YONETIMI AS</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARANTI HOLDING BV</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">NETHERLANDS</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">228</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">340</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">340</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GARANTI KONUT
  FINANSMANI DANISMANLIK HIZMETLERI AS (GARANTI MORTGAGE)</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARANTI KULTUR AS</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARANTI ODEME
  SISTEMLERI AS (GOSAS)</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARANTI PORTFOY
  YONETIMI AS</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GARANTI YATIRIM
  MENKUL KIYMETLER AS</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">56</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARANTI YATIRIM
  ORTAKLIGI AS</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3.61</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">95.49</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARANTIBANK
  INTERNATIONAL NV</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">NETHERLANDS</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">578</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,278</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,703</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">560</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GARRAF MEDITERRANIA,
  S.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GESCAT GESTIO DE SOL
  SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GESCAT LLEVANT, S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GESCAT LLOGUERS SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GESCAT POLSKA SP ZOO</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">POLAND</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GESCAT SINEVA, S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GESCAT VIVENDES EN
  COMERCIALITZACIO SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">93</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">107</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">98</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td width=26% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GESTION DE PREVISION
  Y PENSIONES SA</font></font></p>
  </td>
 <td width=9% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PENSION FUNDS
  MANAGEMENT</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GESTION Y
  ADMINISTRACION DE RECIBOS, S.A. - GARSA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GRAN JORGE JUAN SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">409</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">966</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">558</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">395</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=11 width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(*)&#160; Information on
  foreign companies at exchange rate on December 31, 2018</font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-260</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_543"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:left;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional Information on Consolidated Subsidiaries
and structured entities composing the BBVA Group (Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=bottom width=33% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=7% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">%&#160; Legal share of participation</font></b></font></p>
  </td>
 <td colspan=5 width=32% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=33% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Affiliate Entity Data</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=33% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Direct</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Net Carrying Amount</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Assets</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Liabilities</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Profit (Loss) </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GRUPO FINANCIERO BBVA
  BANCOMER SA DE CV</font></font></p>
  </td>
 <td width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.98</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.98</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,678</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,642</font></font></p>
  </td>
 <td width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,323</font></font></p>
  </td>
 <td width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,318</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GUARANTY BUSINESS
  CREDIT CORPORATION</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GUARANTY PLUS HOLDING
  COMPANY</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HABITATGES FINVER,
  S.L.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HABITATGES JUVIPRO,
  S.L.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HOLAMUNO AGENTE DE
  SEGUROS VINCULADO, S.L.U.(**)</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HOLVI DEUTSCHLAND
  SERVICE GMBH</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GERMANY</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HOLVI PAYMENT SERVICE
  OY</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINLAND</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(9)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HUMAN RESOURCES
  PROVIDER, INC</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">404</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">404</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">398</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HUMAN RESOURCES
  SUPPORT, INC</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">399</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">399</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">393</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INMESP
  DESARROLLADORA, S.A. DE C.V.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">34</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INMUEBLES Y
  RECUPERACIONES CONTINENTAL SA</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERU</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INPAU, S.A.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVERAHORRO SL</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">101</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">103</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">105</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVERPRO DESENVOLUPAMENT,
  S.L.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVERSIONES ALDAMA,
  C.A.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVERSIONES BANPRO
  INTERNATIONAL INC NV</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CURA&#199;AO</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">48.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">48.01</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">45</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVERSIONES BAPROBA
  CA</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVERSIONES DE
  INNOVACION EN SERVICIOS FINANCIEROS, S.L.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVERSIONES P.H.R.4,
  C.A.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INACTIVE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.46</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.46</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IRIDION SOLUCIONS
  IMMOBILIARIES SL</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JALE PROCAM, S.L. </font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">56</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(49)</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">L'EIX IMMOBLES, S.L.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDITY ADVISORS LP</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,116</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,124</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,108</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MADIVA SOLUCIONES,
  S.L.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MICRO SPINAL LLC</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MISAPRE, S.A. DE C.V.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">MOMENTUM SOCIAL INVESTMENT HOLDING, S.L.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MOTORACTIVE IFN SA</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ROMANIA</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">185</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">158</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MOTORACTIVE
  MULTISERVICES SRL</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ROMANIA</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MULTIASISTENCIA
  OPERADORA S.A. DE C.V.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MULTIASISTENCIA
  SERVICIOS S.A. DE C.V.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MULTIASISTENCIA, S.A.
  DE C.V.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">35</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">NEWCO PERU SAC</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERU</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">124</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,005</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">829</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">176</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">NOIDIRI SL</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">NOVA TERRASSA 3, S.L.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">OPCION VOLCAN, S.A.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">OPENPAY S.A.P.I DE
  C.V.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PAYMENT ENTITIES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">OPENPAY SERVICIOS
  S.A. DE C.V.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=33% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">OPERADORA DOS LAGOS
  S.A. DE C.V.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=11 width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(*)&#160;&#160; Information on
  foreign companies at exchange rate on December 31, 2018</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=11 width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(**) These companies
  have an equity loan from BILBAO VIZCAYA HOLDING, S.A.</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-261</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_544"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:left;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional Information on Consolidated Subsidiaries
and structured entities composing the BBVA Group (Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td width=25% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">%&#160; Legal share of participation</font></b></font></p>
  </td>
 <td colspan=5 width=35% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=25% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=35% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Affiliate Entity Data</font></b></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=25% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Direct</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=6% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Net Carrying Amount</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Assets</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Liabilities</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Profit (Loss) </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">OPPLUS OPERACIONES Y
  SERVICIOS SA</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">OPPLUS SAC</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERU</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">P.I. HOLDINGS NO. 3,
  INC.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PARCSUD PLANNER, S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=25% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PECRI INVERSION SA</font></font></p>
  </td>
 <td width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">OTHER INVESTMENT
  COMPANIES</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">163</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">164</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">148</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PENSIONES BBVA
  BANCOMER, S.A. DE C.V., GRUPO FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">185</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,629</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,449</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">140</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">41</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERSONAL DATA BANK
  SLU</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PHOENIX LOAN
  HOLDINGS, INC.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">339</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">361</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">336</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PI HOLDINGS NO. 1,
  INC.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">83</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">83</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">83</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PORTICO PROCAM, S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROMOCIONES Y
  CONSTRUCCIONES CERBAT, S.L.U.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROMOTORA DEL VALLES,
  S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">101</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">65</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(13)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROMOU CT 3AG DELTA,
  S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROMOU CT EIX MACIA,
  S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROMOU CT GEBIRA,
  S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PROMOU CT OPENSEGRE,
  S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROMOU CT VALLES,
  S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROMOU GLOBAL, S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">45</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PRONORTE UNO PROCAM,
  S.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROPEL VENTURE
  PARTNERS GLOBAL, S.L</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.50</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99.50</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">64</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">33</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PROPEL VENTURE
  PARTNERS US FUND I, L.P.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VENTURE CAPITAL</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">71</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">71</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">70</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PRO-SALUD, C.A.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INACTIVE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">58.86</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">58.86</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROVINCIAL DE VALORES
  CASA DE BOLSA CA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SECURITIES DEALER</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">90.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">90.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROVINCIAL
  SDAD.ADMIN.DE ENTIDADES DE INV.COLECTIVA CA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROV-INFI-ARRAHONA,
  S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=25% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROVIVIENDA ENTIDAD
  RECAUDADORA Y ADMIN.DE APORTES, S.A.</font></font></p>
  </td>
 <td width=9% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BOLIVIA</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PENSION FUNDS
  MANAGEMENT</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PUERTO CIUDAD LAS
  PALMAS, S.A. (**)</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">96.64</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">96.64</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">45</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(18)</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">QIPRO SOLUCIONES S.L.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">RALFI IFN SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ROMANIA</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">126</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">109</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">RENTRUCKS ALQUILER Y
  SERVICIOS DE TRANSPORTE SA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INACTIVE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">RESIDENCIAL CUMBRES
  DE SANTA FE, S.A. DE C.V.</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">RPV COMPANY</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CAYMAN ISLANDS</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,324</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,324</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">RWHC, INC</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">742</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">739</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">725</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SAGE OG I, INC</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SATICEM GESTIO SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SATICEM HOLDING SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SATICEM IMMOBILIARIA
  SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SATICEM IMMOBLES EN
  ARRENDAMENT SL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SEGUROS BBVA BANCOMER
  SA DE CV GRUPO FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">335</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,199</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,865</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">124</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">210</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SEGUROS PROVINCIAL CA</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=8% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=11 width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(*)&#160;&#160; Information on
  foreign companies at exchange rate on December 31, 2018</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=11 width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(**) These companies
  have an equity loan from CATALUNYA CAIXA INMOBILIARIA, S.A</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-262</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_545"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:left;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional Information on Consolidated Subsidiaries
and structured entities composing the BBVA Group (Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td nowrap valign=bottom width=34% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=7% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">%&#160; Legal share of participation</font></b></font></p>
  </td>
 <td colspan=5 width=31% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=34% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=31% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Affiliate Entity Data</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=34% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Direct</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Net Carrying Amount</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Assets</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Liabilities</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Profit (Loss) </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICIOS
  CORPORATIVOS BANCOMER, S.A. DE C.V.</font></font></p>
  </td>
 <td width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td width=6% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICIOS
  CORPORATIVOS DE SEGUROS, S.A. DE C.V.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICIOS EXTERNOS DE
  APOYO EMPRESARIAL, S.A DE C.V.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICIOS
  TECNOLOGICOS SINGULARES, S.A.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SIMPLE FINANCE
  TECHNOLOGY CORP.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">59</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">80</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(30)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SOCIEDAD DE ESTUDIOS
  Y ANALISIS FINANCIERO SA</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">79</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">83</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">81</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=34% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SOCIEDAD GESTORA DEL
  FONDO PUBLICO DE REGULACION DEL MERCADO HIPOTECARIO SA</font></font></p>
  </td>
 <td width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PAYMENT INSTITUIONS</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">77.20</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">77.20</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPORT CLUB 18 SA (**)</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TEXAS LOAN SERVICES
  LP</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,129</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,130</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,112</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TMF HOLDING INC.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TRIFOI REAL ESTATE
  SRL</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ROMANIA</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TUCSON LOAN HOLDINGS,
  INC.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">33</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">35</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">34</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKIYE GARANTI
  BANKASI AS</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49.85</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49.85</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,509</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">59,390</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51,556</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,670</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,163</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNIVERSALIDAD TIPS
  PESOS E-9</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COLOMBIA&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  </font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNNIM SOCIEDAD PARA
  LA GESTION DE ACTIVOS INMOBILIARIOS SA</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">359</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,038</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">496</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">500</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UPTURN FINANCIAL INC</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">URBANIZADORA SANT
  LLORENC SA</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INACTIVE</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.60</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.60</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=34% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">VERIDAS DIGITAL
  AUTHENTICATION SOLUTIONS S.L.</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=7% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td colspan=11 width=100% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(*)&#160;&#160; Information on foreign companies at exchange rate on December 31,
  2018</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td colspan=11 width=100% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(**) This company has
  an equity loan from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-263</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_546"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc106098"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">APPENDIX II
Additional information on investments joint ventures and associates in the BBVA
Group</font></b></font></p>

<p align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:left;"><a name="_Toc106099"></a><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Acquisitions or increases of interest ownership in
consolidated subsidiaries</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td valign=bottom width=27% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=6% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=24% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">%&#160; Legal share of participation</font></b></font></p>
  </td>
 <td colspan=5 width=37% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros (**)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=27% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=6% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=6% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=37% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Affiliate Entity Data</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=27% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Direct</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Net Carrying Amount</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Assets</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Liabilities</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Profit (Loss) </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.12.18</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=27% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATES</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ADQUIRA ESPA&#209;A, S.A.</font></font></p>
  </td>
 <td width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMMERCIAL</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40.00</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40.00</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ATOM BANK PLC</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITED KINGDOM</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39.06</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39.06</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">138</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,078</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,796</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">330</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(48)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">AUREA, S.A. (CUBA)</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CUBA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BANK OF HANGZHOU
  CONSUMER FINANCE CO LTD</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CHINA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">753</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">693</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">58</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CANCUN SUN &amp; GOLF
  COUNTRY CLUB, S.A.P.I. DE C.V.</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">33.33</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">33.33</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMPA&#209;IA ESPA&#209;OLA DE
  FINANCIACION DEL DESARROLLO SA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PUBLIC INSTITUTIONS</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16.67</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16.67</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">138</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">124</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=27% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMPA&#209;IA PERUANA DE
  MEDIOS DE PAGO SAC (VISANET PERU)</font></font></p>
  </td>
 <td width=6% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERU</font></font></p>
  </td>
 <td width=6% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ELECTRONIC MONEY
  ENTITIES</font></font></p>
  </td>
 <td nowrap width=8% style="height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.96</font></font></p>
  </td>
 <td nowrap width=8% style="height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.96</font></font></p>
  </td>
 <td nowrap width=8% style="height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49</font></font></p>
  </td>
 <td nowrap width=7% style="height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37</font></font></p>
  </td>
 <td nowrap width=7% style="height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:18.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DIVARIAN PROPIEDAD,
  S.A.U.</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">591</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,014</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">57</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,936</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 </tr>
<tr style="height:21.95pt;">
  <td width=27% style="height:21.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO F/00185
  FIMPE - FIDEICOMISO F/00185 PARA EXTENDER A LA SOCIEDAD LOS BENEFICIOS DEL
  ACCESO A LA INFRAESTRUCTURA DE LOS MEDIOS DE PAGO ELECTRONICOS</font></font></p>
  </td>
 <td width=6% style="height:21.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=6% style="height:21.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=8% style="height:21.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:21.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28.50</font></font></p>
  </td>
 <td nowrap width=8% style="height:21.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28.50</font></font></p>
  </td>
 <td nowrap width=8% style="height:21.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:21.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=7% style="height:21.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:21.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=7% style="height:21.95pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">METROVACESA SA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9.44</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11.41</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.85</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">508</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,577</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">184</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,402</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(9)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REDSYS SERVICIOS DE
  PROCESAMIENTO SL</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">121</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ROMBO COMPA&#209;IA
  FINANCIERA SA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">209</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">179</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICIOS
  ELECTRONICOS GLOBALES SA DE CV</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46.14</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46.14</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVIRED SOCIEDAD
  ESPA&#209;OLA DE MEDIOS DE PAGO SA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28.72</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28.72</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SOLARISBANK AG</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GERMANY</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18.76</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18.76</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">212</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">158</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">56</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TELEFONICA FACTORING
  ESPA&#209;A SA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL ASSETS</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">59</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TF PERU SAC</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PERU</font></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL ASSETS</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24.30</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24.30</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT
  VENTURES (*)</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ADQUIRA MEXICO SA DE
  CV</font></font></p>
  </td>
 <td width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=6% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMMERCIAL</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ALTURA MARKETS
  SOCIEDAD DE VALORES SA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SECURITIES DEALER</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">69</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,711</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,574</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">127</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMPA&#209;IA MEXICANA DE
  PROCESAMIENTO SA DE CV</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CORPORACION IBV
  PARTICIPACIONES EMPRESARIALES, S.A.</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">63</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">58</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DESARROLLOS METROPOLITANOS DEL SUR, S.L.</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">77</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO
  F/402770-2 ALAMAR</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42.40</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42.40</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO 1729
  INVEX ENAJENACION DE CARTERA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32.25</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32.25</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">171</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">171</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVERSIONES PLATCO CA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROMOCIONS TERRES
  CAVADES, S.A.</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39.11</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39.11</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PSA FINANCE ARGENTINA
  COMPA&#209;IA FINANCIERA SA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">96</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">76</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">RCI COLOMBIA SA
  COMPA&#209;IA DE FINANCIAMIENTO</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COLOMBIA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">49.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">32</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">379</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">314</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">61</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">REAL ESTATE DEAL II
  SA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.06</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.06</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VITAMEDICA
  ADMINISTRADORA, S.A. DE C.V</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MEXICO</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=27% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VOLKSWAGEN FINANCIAL
  SERVICES COMPA&#209;IA FINANCIERA SA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td width=6% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=8% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">195</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">166</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">34</font></font></p>
  </td>
 <td nowrap width=7% style="height:13.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=11 width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(*)&#160; Joint ventures
  incorporated by the equity method.</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=11 width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(**) In foreign
  companies the exchange rate of December 31, 2018 is applied.</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc106100"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">APPENDIX
III Changes and notification of participations in the BBVA Group in 2018</font></b></font></p>

<p align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:left;"><a name="_Toc106101"></a><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Acquisitions or Increases of Interest Ownership in
Consolidated Subsidiaries</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td nowrap valign=bottom width=24% style="border:none;border-top:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Millions of Euros</font></b></font></p>
  </td>
 <td colspan=2 width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">% of Voting Rights</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-top:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-top:solid black 1.0pt;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td width=24% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Company</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Type of Transaction</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Activity</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Price Paid in the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Transactions +</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Expenses directly</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">attributable to the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Transactions</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Fair Value of Equity</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Instruments</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">issued for the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Transactions</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">% Participation (net)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Acquired</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">in the Year</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Total Voting Rights</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Controlled after the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Transactions</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Effective Date for the Transaction (or Notification Date)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Category</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=24% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">ENTIDAD DE PROMOCION
  DE NEGOCIOS SA</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">ACQUISITION</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">RENT HOLDING</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0.02%</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">99.88%</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">10-May-18</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=24% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">BBVA BROKER SA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">ACQUISITION</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">4.99%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">99.99%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">01-Oct-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=24% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">BBVA HOLDING CHILE SA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">FOUNDING AND SPLIT</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">23-Jan-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=24% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">HOLVI DEUTSCHLAND
  SERVICE GMBH</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">FOUNDING </font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">01-May-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=24% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">PERSONAL DATA BANK
  SLU</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">FOUNDING </font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">01-Jun-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=24% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">DOMICILIA TREBOLBLUE
  SA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">FOUNDING </font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">HOLDING ENT.</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">03-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=24% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">ONUTPEN 2018 SL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">FOUNDING </font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">21-Aug-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=24% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">GARANTI YATIRIM
  ORTAKLIGI AS</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">CAPITAL INCREASE</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0.31%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">95.49%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">01-Dec-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
</table></div>



<h3 style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc106102"></a><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:12.0pt;line-height:115%;">Changes
and notification of participations in the BBVA Group in 2018 (continued)</font></b></font></h3>

<h3 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:9.0pt;line-height:115%;">Disposals or Reduction of
Interest Ownership in Consolidated Subsidiaries</font></b></font></h3>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros</font></b></font></p>
  </td>
 <td colspan=2 width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">% of Voting Rights</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Type of Transaction</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Profit (Loss)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">in the Transaction</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Changes in the Equity due to the transaction</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">% Participation</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Sold</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">in the Year</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Total Voting Rights</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Controlled after the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Disposal</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Effective Date for the Transaction (or Notification Date)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Category</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANCO BILBAO VIZCAYA
  ARGENTARIA (PORTUGAL) SA</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1-Oct-18</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROMOCION EMPRESARIAL
  XX SA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17-Dec-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RENTING, S.A.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANCO BILBAO VIZCAYA
  ARGENTARIA CHILE, S.A.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">68.19%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA CORREDORES DE
  BOLSA LIMITADA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SECURITIES DEALER</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SOCIEDAD DE
  LEASING INMOBILIARIO, S.A.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">97.49%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA ASESORIAS
  FINANCIERAS, S.A.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:15.95pt;">
  <td width=26% style="height:15.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA ASSET MANAGEMENT
  ADMINISTRADORA GENERAL DE FONDOS S.A.</font></font></p>
  </td>
 <td width=10% style="height:15.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:15.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:15.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:15.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA FACTORING
  LIMITADA (CHILE)</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA CORREDORA
  TECNICA DE SEGUROS LIMITADA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANCOMER FINANCIAL
  SERVICES INC.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6-Dec-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">APLICA TECNOLOGIA
  AVANZADA OPERADORA, S.A. DE C.V.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">APLICA TECNOLOGIA
  AVANZADA SERVICIOS, S.A. DE C.V.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SUBORDINATED
  CAPITAL SOCIEDAD ANONIMA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18-Dec-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SENIOR FINANCE
  SAU</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18-Dec-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA INMOBILIARIA E
  INVERSIONES, S.A.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">68.11%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HOMEOWNERS LOAN
  CORPORATION</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1-Dec-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RENTAS E
  INVERSIONES LIMITADA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30-Apr-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SERVICIOS
  CORPORATIVOS LIMITADA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DIVARIAN DESARROLLOS
  INMOBILIARIOS, S.L.U</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10-Oct-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA INVERSIONES
  CHILE, S.A.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">863</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SEGUROS DE VIDA,
  S.A.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GUARANTY PLUS
  PROPERTIES, INC-1</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31-Dec-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GUARANTY PLUS
  PROPERTIES LLC-2</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1-Aug-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4D INTERNET
  SOLUTIONS, INC</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18-Dec-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h3 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:12.0pt;line-height:115%;">Changes and notification of
participations in the BBVA Group in 2018 (continued)</font></b></font></h3>

<h3 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:9.0pt;line-height:115%;">Disposals or Reduction of
Interest Ownership in Consolidated Subsidiaries</font></b></font></h3>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td nowrap valign=bottom width=25% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros</font></b></font></p>
  </td>
 <td colspan=2 width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">% of Voting Rights</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-top:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td width=25% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Type of Transaction</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Profit (Loss)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">in the Transaction</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Changes in the Equity due to the transaction</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">% Participation</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Sold</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">in the Year</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Total Voting Rights</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Controlled after the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Disposal</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Effective Date for the Transaction (or Notification Date)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Category</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PARTICIPACIONES
  ARENAL, S.L.</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.00%</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7-Aug-18</font></font></p>
  </td>
 <td width=9% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CAIXASABADELL
  TINELIA, S.L.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18-Jul-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HABITATGES INVERVIC,
  S.L.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE </font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">35.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22-Feb-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROCAMVASA, S.A.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE </font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4-May-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CATALUNYACAIXA
  ASSEGURANCES GENERALS, S.A.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23-Jan-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VOLJA LUX, SARL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">71.78%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29-Jan-19</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CX PROPIETAT, FII</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE
  INVESTMENT</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">94.96%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30-Jun-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VOLJA PLUS SL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75.40%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1-Oct-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">UNITARIA GESTION DE
  PATRIMONIOS INMOBILIARIOS SA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20-Dec-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SCALDIS FINANCE, S.A.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1-Apr-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ONUTPEN 2018 SL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31-Oct-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=25% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DOMICILIA TREBOLBLUE
  SA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">OTHER HOLDING</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.00%</font></font></p>
  </td>
 <td nowrap width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19-Dec-18</font></font></p>
  </td>
 <td width=9% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-266</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<h3 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc106103"></a><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:12.0pt;line-height:115%;">Changes
and notification of participations in the BBVA Group in 2018 (continued)</font></b></font></h3>

<h3 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:9.0pt;line-height:115%;">Business Combinations and Other
Acquisitions or Increases of Interest Ownership in Associates and Joint-Ventures
Accounted for Under the Equity Method</font></b></font></h3>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:24.0pt;">
  <td nowrap valign=bottom width=20% style="border:none;border-top:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros</font></b></font></p>
  </td>
 <td colspan=2 width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">% of Voting Rights</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:49.5pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Type of Transaction</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Price Paid in the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Transactions +</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Expenses Directly</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Attributable to the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Transactions</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Fair Value of Equity</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Instruments</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Issued for the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Transactions</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">% Participation (Net)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Acquired</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">in the Year</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Total Voting Rights</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Controlled After the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Transactions</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Effective Date for the Transaction (or Notification Date)</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:49.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Category</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LEVENT YAPILANDIRMA
  YONETIMI AS</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FOUNDING</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22.13%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22.13%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14-Dec-18</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATED</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ATOM BANK PLC</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INCREASE TO WHICH
  OTHER MEMERS DO NOT ASSIST</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">99</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9.16%</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">39.06%</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">01-May-18</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATED</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SR2 SOCIEDAD DE
  MEDIOS DE PAGO S.A.</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FOUNDING AND SPLIT</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PAYMENT ENTITIES</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28.72%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28.72%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">01-Jan-18</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATED</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=20% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SOCIEDADE ALTITUDE
  SOFTWARE-SISTEMA E SERCI&#199;OS SA</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FOUNDING</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.55%</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.55%</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">02-Apr-18</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SISTEMAS DE TARJETAS
  Y MEDIOS DE PAGO SA</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FOUNDING</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PAYMENT ENTITIES</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18.11%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18.11%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30-Apr-18</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATED</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SOLARISBANK AG</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ACQUISITION</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">38</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18.76%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18.76%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">01-Oct-18</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATED</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ANTHEMIS BBVA VENTURE
  PARTNERSHIP LLP</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FOUNDING</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">01-Dec-18</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=20% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMPA&#209;IA PERUANA DE
  MEDIOS DE PAGO SAC (VISANET PERU)</font></font></p>
  </td>
 <td width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">CAPITAL INCREASE</font></font></p>
  </td>
 <td width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ELECTRONIC MONEY
  ENTITIES</font></font></p>
  </td>
 <td nowrap width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">0.68%</font></font></p>
  </td>
 <td nowrap width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.96%</font></font></p>
  </td>
 <td nowrap width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">01-Aug-18</font></font></p>
  </td>
 <td width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATED</font></font></p>
  </td>
 </tr>
</table></div>



<h3 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc106104"></a><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:12.0pt;line-height:115%;">Changes
and notification of participations in the BBVA Group in 2018 (continued)</font></b></font></h3>

<h3 style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:9.0pt;line-height:115%;">Disposal or Reduction of Interest
Ownership in Associates and Joint-Ventures Companies Accounted for Under the
Equity Method</font></b></font></h3>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:16.5pt;">
  <td valign=bottom width=29% style="border:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros</font></b></font></p>
  </td>
 <td colspan=2 width=20% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">% of Voting Rights</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=29% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Type of Transaction</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Profit (Loss)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">in the Transaction</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">% Participation</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Sold</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">in the Year</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Total Voting Rights</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Controlled after the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Disposal</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Effective Date for the Transaction (or Notification Date)</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Category</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO
  F/404180-2 BBVA BANCOMER SERVICIOS GOLF ZIBATA</font></font></p>
  </td>
 <td width=11% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30.00%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15-Feb-18</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SISTARBANC S.R.L.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26.66%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13-Sep-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO F 403853-
  5 BBVA BANCOMER SERVICIOS ZIBATA</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15-Feb-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">OPERADORA ZIBATA S.
  DE R.L. DE C.V.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15-Feb-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FERROMOVIL 3000, S.L.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29-May-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FERROMOVIL 9000, S.L.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29-May-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DIVARIAN PROPIEDAD,
  S.A.U.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">80.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10-Oct-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TELEFONICA FACTORING
  CHILE, S.A.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24.30%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">06-Jul-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ALTITUDE SOFTWARE
  SGPS, S.A.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">31.55%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">01-Apr-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">METROVACESA SA</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7.66%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20.85%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">06-Feb-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TESTA RESIDENCIAL
  SOCIMI SAU</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE
  INVESTMENT TRUST</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26.87%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21-Dec-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PARQUE RIO
  RESIDENCIAL, S.L.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27-Apr-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">AVANTESPACIA
  INMOBILIARIA, S.L.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30.01%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28-Dec-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BATEC ORTO
  DISTRIBUCION S.L.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMMERCIAL</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">07-Jun-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HABITATGES CIMIPRO,
  S.L.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12-Mar-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SOLARVOLAR, S.L.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">45.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">08-Feb-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PROMOCIONES MIES DEL
  VALLE, S.L.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DILUTION EFFECT</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">01-Oct-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TEIN CENTRO
  TECNOLOGICO DEL PLASTICO, S.L.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DILUTION EFFECT</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">01-Sep-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HABITATGES SOCIALS DE
  CALAF S.L</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40.00%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">04-Apr-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=29% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SR2 SOCIEDAD DE
  MEDIOS DE PAGO S.A.</font></font></p>
  </td>
 <td width=11% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PAYMENT ENTITIES</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">28.72%</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">01-Apr-18</font></font></p>
  </td>
 <td nowrap width=10% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">ASSOCIATE</font></font></p>
  </td>
 </tr>
</table></div>




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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_550"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">APPENDIX IV Fully consolidated
subsidiaries with more than 10% owned by non-Group shareholders as of December
31, 2018</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:25.5pt;">
  <td valign=bottom width=40% style="border:none;border-top:solid black 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;border-top:solid black 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=45% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">% of Voting Rights Controlled by the Bank</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Direct</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA BANCO
  CONTINENTAL SA</font></font></p>
  </td>
 <td width=15% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46.12</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46.12</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANCO PROVINCIAL SA -
  BANCO UNIVERSAL</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1.46</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53.75</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">55.21</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVERSIONES BANPRO
  INTERNATIONAL INC NV</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">48.00</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">48.00</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PRO-SALUD, C.A.</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">NO ACTIVITY</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">58.86</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">58.86</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INVERSIONES P.H.R.4,
  C.A.</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">NO ACTIVITY</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.46</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.46</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">COMERCIALIZADORA
  CORPORATIVA SAC</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FINANCIAL SERVICES </font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">DISTRITO CASTELLANA
  NORTE, S.A.</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75.54</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75.54</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GESTION DE PREVISION
  Y PENSIONES SA</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">PENSION FUND
  MANAGEMENT</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.00</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.00</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">URBANIZADORA SANT
  LLORENC SA</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">NO ACTIVITY</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.60</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.60</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">F/403035-9 BBVA
  HORIZONTES RESIDENCIAL</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">65.00</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">65.00</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">F/253863 EL DESEO
  RESIDENCIAL</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">65.00</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">65.00</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">DATA ARCHITECTURE AND
  TECHNOLOGY S.L.</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FIDEICOMISO LOTE 6.1
  ZARAGOZA</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">59.99</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">59.99</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">F/11395 FIDEICOMISO
  IRREVOCABLE DE ADMINISTRACION CON DERECHO DE REVERSION</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42.40</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42.40</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">VERIDAS DIGITAL
  AUTHENTICATION SOLUTIONS S.L.</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GARANTI EMEKLILIK VE
  HAYAT AS</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">INSURANCES</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">84.91</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">84.91</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FOMENTO Y DESARROLLO
  DE CONJUNTOS RESIDENCIALES S.L.</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.00</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">60.00</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA INFORMATION
  TECHNOLOGY ESPA&#209;A SL</font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">76.00</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">76.00</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=40% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">JALE PROCAM, S.L. </font></font></p>
  </td>
 <td width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p align=left style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:left;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc481589127"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-268</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">APPENDIX V BBVA Group&#8217;s structured entities. Securitization funds</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td nowrap valign=bottom width=30% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=18% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=34% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=30% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Securitization
  Fund (consolidated)</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Origination</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Date</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Total Securitized</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Exposures at the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Origination Date</font></b></font></p>
  </td>
 <td width=17% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Total Securitized</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Exposures as of December 31, 2018 (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">AYT CAIXA SABADELL
  HIPOTECARIO I, FTA</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">07/2008</font></font></p>
  </td>
 <td width=17% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">300</font></font></p>
  </td>
 <td width=17% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">80</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">AYT HIPOTECARIO MIXTO
  IV, FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">06/2005</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">AYT HIPOTECARIO
  MIXTO, FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">03/2004</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA CONSUMER AUTO
  2018-1</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">06/2018</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">800</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">746</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA CONSUMO 6 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10/2014</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">299</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">54</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA CONSUMO 7 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">07/2015</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,450</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">572</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA CONSUMO 8 FT</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">07/2016</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">700</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">502</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA CONSUMO 9 FT</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">03/2017</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,375</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,229</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA EMPRESAS 4 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">07/2010</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,700</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA LEASING 1 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">06/2007</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,500</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA PYME 10 FT</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12/2015</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">780</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">201</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 1 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">02/2007</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,500</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,000</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 10 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">06/2011</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,600</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,150</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 11 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">06/2012</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,400</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,006</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 12 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12/2013</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,350</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,197</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 13 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">07/2014</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,100</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,138</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 14 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11/2014</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">700</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">488</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 15 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">05/2015</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,000</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,185</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 16 FT</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">05/2016</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,600</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,345</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 17 FT</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11/2016</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,800</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,576</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 18 FT</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11/2017</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,800</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,686</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 2 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">03/2007</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,000</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,858</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 3 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">07/2007</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,000</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,414</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 5 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">05/2008</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,000</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,350</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA RMBS 9 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">04/2010</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,295</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">844</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA VELA SME 2017-1</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">06/2017</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,000</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,321</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA VELA SME 2018</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">03/2018</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,950</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,387</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA-5 FTPYME FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11/2006</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,900</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA-6 FTPYME FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">06/2007</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,500</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FTA TDA-22 MIXTO</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12/2004</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">112</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FTA TDA-27</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12/2006</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">275</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">87</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FTA TDA-28</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">07/2007</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">250</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">88</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GAT ICO FTVPO 1,
  F.T.H</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">jun.-09</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">358</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">84</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">GC FTGENCAT TARRAGONA
  1 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">06/2008</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">283</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HIPOCAT 10 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">07/2006</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,500</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">291</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HIPOCAT 11 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">03/2007</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,600</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">299</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HIPOCAT 7 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">06/2004</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,400</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">221</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HIPOCAT 8 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">05/2005</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,500</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">261</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HIPOCAT 9 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11/2005</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,000</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">201</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TDA 19 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">03/2004</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">200</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TDA 20-MIXTO, FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">06/2004</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TDA 23 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">03/2005</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">300</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TDA TARRAGONA 1 FTA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12/2007</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">397</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">116</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=30% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">VELA CORPORATE 2018-1</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA SA</font></font></p>
  </td>
 <td nowrap width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12/2018</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,000</font></font></p>
  </td>
 <td width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">916</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-269</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_552"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:6.0pt;margin-left:0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td nowrap valign=bottom width=32% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=17% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=34% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Millions of Euros</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.75pt;">
  <td width=32% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Securitization Fund (not consolidated)</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Origination</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Date</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Total Securitized</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Exposures at the</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Origination Date</font></b></font></p>
  </td>
 <td width=17% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Total Securitized</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Exposures as of December 31, 2018 (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=32% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">FTA TDA-18 MIXTO</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA, S.A.</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">nov.-03</font></font></p>
  </td>
 <td width=17% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">91</font></font></p>
  </td>
 <td width=17% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">HIPOCAT 6 FTA</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">BBVA, S.A.</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">jul.-03</font></font></p>
  </td>
 <td width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">850</font></font></p>
  </td>
 <td width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">108</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=5 nowrap width=100% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(*)&#160; Solvency scope.</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:107%;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc481589125"></a><a name="_Toc106107"></a><a name="_Toc495478177"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-270</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_553"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">APPENDIX VI
Details of the outstanding subordinated debt and preferred securities issued by
the Bank or entities in the Group consolidated as of December 31, 2018, 2017
and 201</font></b></font><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">6</font></b></font><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;"> &nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Outstanding as of December 31, 2018, 2017, and 2016
of subordinated issues</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td width=31% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=35% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Millions of Euros</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:39.0pt;">
  <td width=31% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Issuer Entity and
  Issued Date(*)</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Currency</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2016</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Prevailing Interest Rate </font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">as of December 31, 2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:39.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Maturity</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Date</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Issues in Euros</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">BBVA, S.A</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">February-07</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">255</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">255</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.47%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16-Feb-22</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">March-08</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">125</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">125</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">125</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.03%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3-Mar-33</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">July-08</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">100</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">100</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">100</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.20%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4-Jul-23</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">February-14</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,500</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,500</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,500</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7.00%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">April-14</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,494</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,494</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.50%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11-Apr-24</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">February-15</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,500</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,500</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,500</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.75%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">April-16</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,000</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,000</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,000</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8.88%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">February-17</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,000</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">997</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.50%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10-Feb-27</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">February-17</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">165</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">165</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4.00%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24-Feb-32</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">May-17</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">150</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">150</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2.54%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24-May-27</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">May-17</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">500</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">500</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5.88%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">September-18</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">990</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5.87%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Various</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">384</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">386</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">277</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=31% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,906</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,171</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,756</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">BBVA SUBORDINATED
  CAPITAL, S.A.U. (*)</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">October-05</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">99</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">99</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.47%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13-Oct-20</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">April-07</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">68</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">0.57%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4-Apr-22</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">May-08</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">50</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.00%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19-May-23</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">July-08</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">20</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">20</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.11%</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22-Jul-18</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">April-14</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,500</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.50%</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11-Apr-24</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=31% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">119</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,737</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=31% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Others</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=31% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total issued in
  Euros</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,906</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,290</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,493</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=7 nowrap width=100% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(*)&#160; The issuances of BBVA Subordinated Capital, S.A.U. are jointly,
  severally and unconditionally guaranteed by the Bank.</font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-271</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_554"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Outstanding as of December 31, 2018, 2017, and 2016
of subordinated issues (continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=35% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=33% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Millions of Euros</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td width=35% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Issuer Entity and
  Issued Date</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Currency</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2016</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Prevailing Interest Rate </font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">as of December 31, 2018</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Maturity</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Date</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Issues in
  foreign currency</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">BBVA, S.A</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">May-13</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,251</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,423</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9.00%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">March-17</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">105</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">100</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5.70%</font></font></p>
  </td>
 <td nowrap width=10% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">31-Mar-32</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">November-17</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">873</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">834</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.13%</font></font></p>
  </td>
 <td nowrap width=10% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">May-18</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">260</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5.25%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">29-May-33</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=35% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,238</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,185</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,423</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">May-17</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">CHF</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1.60%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24-May-27</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=35% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">CHF</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">BBVA GLOBAL
  FINANCE, LTD. (*)</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December-95</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">169</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">162</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">189</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7.00%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1-Dec-25</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=35% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">169</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">162</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">189</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">BANCO BILBAO
  VIZCAYA ARGENTARIA, CHILE</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Different issues</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">CLP</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">574</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">609</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Various</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=35% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">CLP</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">574</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">609</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">BBVA BANCOMER,
  S.A. de C.V.</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">May-07</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">474</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,01%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17-May-22</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">April-10</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">874</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">831</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">947</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7.25%</font></font></p>
  </td>
 <td nowrap width=10% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22-Apr-20</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">March-11</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,092</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,039</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,184</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.50%</font></font></p>
  </td>
 <td nowrap width=10% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10-Mar-21</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">July-12</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,311</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,247</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,421</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.75%</font></font></p>
  </td>
 <td nowrap width=10% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">30-Sep-22</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">November-14</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">175</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">166</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">189</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5.35%</font></font></p>
  </td>
 <td nowrap width=10% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">12-Nov-29</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Jan-18</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">874</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5.13%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18-Jan-33</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=35% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,325</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,283</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,214</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">BBVA PARAGUAY</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">November-14</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.75%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">05-Nov-21</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">November-15</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.70%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22-Nov-22</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=35% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">42</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">38</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">43</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">TEXAS REGIONAL STATUTORY
  TRUST I</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">February-04</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">47</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.13%</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17-Mar-34</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=35% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">47</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=7 nowrap width=100% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">(*)&#160; The issuances of
  BBVA Global Finance, Ltd, are guaranteed (secondary liability) by the Bank</font></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-272</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_555"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Outstanding as of
December 31, 2018, 2017, </font></b></font><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">and</font></b></font><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"> 2016 of subordinated
issues</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=28% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=36% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Millions of Euros</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:44.25pt;">
  <td width=28% style="border:none;border-bottom:solid black 1.0pt;height:44.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Issuer Entity and
  Issued Date (continued)</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:44.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Currency</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:44.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:44.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2017</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:44.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2016</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:44.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Prevailing Interest Rate </font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">as of December 31, 2018</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:44.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Maturity</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Date</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">STATE NATIONAL
  CAPITAL TRUST I</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">July-03</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.32%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">30-Sep-33</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=28% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">STATE NATIONAL
  STATUTORY TRUST II</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">March-04</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.07%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17-Mar-34</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=28% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">TEXASBANC
  CAPITAL TRUST I</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">June-04</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2.88%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">23-Jul-34</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=28% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">COMPASS BANK</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">March-05</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">199</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">190</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">212</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5.50%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1-Apr-20</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">March-06</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">62</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">59</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">65</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5.90%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1-Apr-26</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">September-07</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">332</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.40%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1-Oct-17</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">April-15</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">611</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">584</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">655</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.88%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10-Apr-25</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=28% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">872</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">833</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,264</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">BBVA COLOMBIA,
  S.A.</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">September-11</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">COP</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">32</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8.31%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19-Sep-18</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">September-11</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">COP</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">30</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8.48%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19-Sep-21</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">September-11</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">COP</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">42</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">44</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">49</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8.72%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19-Sep-26</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">February-13</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">COP</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">53</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">56</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">63</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7.65%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19-Feb-23</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">February-13</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">COP</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">44</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">52</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7.93%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19-Feb-28</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">November-14</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">COP</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">25</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8.53%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26-Nov-26</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">November-14</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">COP</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">43</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">45</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">51</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8.41%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26-Nov-34</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">January-00</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">COP</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December-15</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">COP</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=28% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">COP</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">215</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">273</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">308</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">April-15</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">332</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">313</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">379</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4.88%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21-Apr-25</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=28% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">332</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">313</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">379</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">BANCO
  CONTINENTAL, S.A.</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">September-07</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2.16%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24-Sep-17</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=28% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">May-07</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PEN</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5.85%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7-May-22</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">May-07</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PEN</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14-May-27</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">June-07</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PEN</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">20</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">20</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.47%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18-Jun-32</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">November-07</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PEN</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.56%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19-Nov-32</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">February-08</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PEN</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.47%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28-Feb-28</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">July-08</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PEN</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.06%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8-Jul-23</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">September-08</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PEN</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3.09%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9-Sep-23</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December-08</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PEN</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4.19%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15-Dec-33</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">October-13</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PEN</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">40</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">38</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">43</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.53%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2-oct.-28</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">September-14</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PEN</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">252</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">244</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">273</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5.25%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22-sep.-29</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=28% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PEN</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">410</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">395</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">451</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">TURKIYE GARANTI
  BANKASI A.S</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=28% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">May-17</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">652</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">623</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6.13%</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24-May-27</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=28% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">652</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">623</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#2DCCCD face=Arial,sans-serif style="border:none;"><b><font color=#2DCCCD face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=28% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">Total issues in
  foreign currencies(Millions of Euros)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,274</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,695</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,994</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-273</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_556"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Outstanding as of
December 31, 2018, 2017, and 2016 of subordinated issues (Millions of euros)</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2018</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2017</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Issuer Entity and Issued Date</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Currency</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Amount Issued</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Currency</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Amount Issued</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Currency</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Amount Issued</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">BBVA S.A</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2007</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">BBVA COLOMBIA SA</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 1993</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">COP</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PESO COL</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">PESO COL</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">BBVA PARAGUAY,
  S.A.</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=46% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">September 2005</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">86</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=46% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">September 2006</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">164</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">April 2007</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">569</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">BBVA International
  Preferred, S.A.U.</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=46% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">July 2007</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">GBP</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">35</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">GBP</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">35</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">GBP</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">36</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=46% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Phoenix Loan
  Holdings Inc.</font></b></font></p>
  </td>
 <td nowrap width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&#160;December 2000</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Caixa Terrasa
  Societat de Participacion</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">August 2005</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">52</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">51</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">51</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Caixasabadell
  Preferents, S.A.</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=46% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2004</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">July 2006</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">56</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">56</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">53</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=46% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Others</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1</font></b></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-274</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_557"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc481589126"></a><a name="_Toc495478178"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">APPENDIX VII Consolidated balance sheets held in foreign currency
as of December 31, 2018, 2017 and 2016.</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2018
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=32% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Mexican</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Pesos</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Turkish Lira</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other Foreign</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Currencies</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total Foreign</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Currencies</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Assets </font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=32% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Cash, cash balances
  at central banks and other demand deposits</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15,184</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,869</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">476</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,547</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28,076</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,133</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15,500</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">366</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,614</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22,614</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=32% style="height:18.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Non- Trading
  financial assets mandatorily at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=14% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">650</font></font></p>
  </td>
 <td nowrap width=14% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,303</font></font></p>
  </td>
 <td nowrap width=14% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td nowrap width=13% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">58</font></font></p>
  </td>
 <td nowrap width=13% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,014</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=32% style="height:18.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets at
  fair value through comprehensive income</font></font></p>
  </td>
 <td nowrap width=14% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16,566</font></font></p>
  </td>
 <td nowrap width=14% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,704</font></font></p>
  </td>
 <td nowrap width=14% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,031</font></font></p>
  </td>
 <td nowrap width=13% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,931</font></font></p>
  </td>
 <td nowrap width=13% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27,232</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=32% style="height:19.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets at
  amortized cost</font></font></p>
  </td>
 <td nowrap width=14% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">101,366</font></font></p>
  </td>
 <td nowrap width=14% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">47,550</font></font></p>
  </td>
 <td nowrap width=14% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28,094</font></font></p>
  </td>
 <td nowrap width=13% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">34,075</font></font></p>
  </td>
 <td nowrap width=13% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">211,085</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Joint ventures and
  associates</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">54</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">267</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">326</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Tangible assets</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">670</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,964</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,007</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">850</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,490</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other assets</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,444</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,911</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,361</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,879</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">10,595</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=32% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">141,019</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">81,856</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">34,336</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">50,221</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">307,433</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Liabilities </font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  held for trading</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,372</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">13,626</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">360</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,507</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17,864</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  at amortized cost</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">136,307</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">48,169</font></font></p>
  </td>
 <td nowrap width=14% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">20,878</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">37,342</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">242,696</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=32% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other liabilities</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,874</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">6,081</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">750</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,200</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17,904</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=32% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">142,552</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">67,876</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">21,987</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46,049</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">278,464</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-275</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_558"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2017 (Millions
  of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Mexican</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Pesos</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Turkish Lira</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other Foreign</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Currencies</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total Foreign</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Currencies</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Assets</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=45% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Cash, cash balances
  at central banks and other demand deposits</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">17,111</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,699</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">827</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,264</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">26,902</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,085</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14,961</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">484</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,583</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">22,113</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Available-for-sale
  financial assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">14,218</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,051</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,904</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,010</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">30,183</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Loans and receivables</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">93,069</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">39,717</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">32,808</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">34,488</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">200,081</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=45% style="height:19.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Investments in
  entities accounted for using the equity method</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">124</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">147</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">276</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Tangible assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">659</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,953</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,289</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">673</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,573</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,309</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,041</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,426</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18,662</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">35,438</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=45% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">134,456</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">74,546</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">44,738</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">65,826</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">319,566</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Liabilities</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  held for trading</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">935</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,714</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">506</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">533</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">7,688</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  at amortized cost</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">135,546</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">51,492</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">27,079</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">39,062</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">253,178</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,907</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,720</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,039</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">16,593</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">30,259</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=45% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">140,387</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">65,926</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28,623</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">56,188</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">291,124</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-276</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_559"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">December 2016 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Mexican</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Pesos</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Turkish Lira</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other Foreign</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Currencies</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:30.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total Foreign</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Currencies</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Assets</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=45% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Cash, cash balances
  at central banks and other demand deposits</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15,436</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,947</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">426</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,547</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">25,357</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial assets held
  for trading</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,048</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">15,541</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">732</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,695</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">24,016</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Available-for-sale
  financial assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">18,525</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">9,458</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,889</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,658</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">38,530</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Loans and receivables</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">109,167</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">41,344</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">34,425</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">46,629</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">231,565</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=45% style="height:19.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Investments in
  entities accounted for using the equity method</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">135</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">106</font></font></p>
  </td>
 <td nowrap width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">247</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Tangible assets</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">788</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">2,200</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,376</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">844</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,207</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other assets</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,482</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,214</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,219</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">4,358</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">19,273</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=45% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">153,451</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">78,839</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">47,066</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">64,839</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">344,194</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Liabilities</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  held for trading</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">3,908</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">5,957</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">693</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,426</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">11,983</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  at amortized cost</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">150,035</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">53,185</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">28,467</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">53,858</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">285,546</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Other liabilities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,812</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">8,774</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,418</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">1,957</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:7.0pt;">123,961</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=45% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">155,755</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">67,916</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">30,578</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">57,241</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:7.0pt;">311,490</font></b></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>



<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><a name="_Toc106116"></a><a name="_Toc505356001"></a><a name="_Toc495478180"></a><a name="_Toc481589129"></a></p>
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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-277</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_560"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">APPENDIX
VIII. Quantitative information on refinancing and restructuring operations and
other requirement under Bank of Spain Circular 6/2012</font></b></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">a)&#160;&#160; Quantitative information on refinancing and
restructuring operations</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of refinancing and restructuring operations as of
December 31, 2018, 2017 and 2016 is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:19.5pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-top:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=74% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">DECEMBER 2018 BALANCE OF FORBEARANCE</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160; (Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=26% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=74% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TOTAL</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap valign=bottom width=26% style="height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Unsecured loans</font></b></font></p>
  </td>
 <td colspan=4 width=43% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Secured loans</font></b></font></p>
  </td>
 <td rowspan=3 width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Accumulated
  impairment or accumulated losses in fair value due to credit risk</font></b></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td nowrap valign=bottom width=26% style="height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-top:solid black 1.0pt;height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Maximum amount of secured loans that can be considered</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of operations</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of operations</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Real estate mortgage secured</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=26% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=10% style="border:none;height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General Governments</font></font></p>
  </td>
 <td width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">75</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">111</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">64</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">52</font></font></p>
  </td>
 <td width=10% style="height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=26% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other financial
  corporations and individual entrepreneurs (financial business)</font></font></p>
  </td>
 <td width=10% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">252</font></font></p>
  </td>
 <td width=11% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td width=11% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29,360</font></font></p>
  </td>
 <td width=11% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td width=11% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td width=10% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td width=26% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-financial
  corporations and individual entrepreneurs (corporate non-financial
  activities)</font></font></p>
  </td>
 <td width=10% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">44,271</font></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,483</font></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15,493</font></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,177</font></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,200</font></font></p>
  </td>
 <td width=10% style="height:26.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">221</font></font></p>
  </td>
 <td width=10% style="height:26.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,148</font></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=26% style="height:20.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Of which: financing
  the construction and property (including land)</font></i></font></p>
  </td>
 <td width=10% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">734</font></i></font></p>
  </td>
 <td width=11% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">258</font></i></font></p>
  </td>
 <td width=11% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,627</font></i></font></p>
  </td>
 <td width=11% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">962</font></i></font></p>
  </td>
 <td width=11% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">501</font></i></font></p>
  </td>
 <td width=10% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></i></font></p>
  </td>
 <td width=10% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">517</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest homes (*)</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">193,061</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,326</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">355,466</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,990</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,083</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">150</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,716</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">237,659</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,933</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">400,365</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,236</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,338</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">371</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,885</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:17.25pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-top:solid black 1.0pt;height:17.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=74% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:17.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Of&#160; which:&#160; IMPAIRED</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=26% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Unsecured loans</font></b></font></p>
  </td>
 <td colspan=4 width=43% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Secured loans</font></b></font></p>
  </td>
 <td rowspan=3 width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Accumulated impairment or accumulated losses in fair value due
  to credit risk</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap valign=bottom width=26% style="height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Maximum amount of secured loans that can be considered</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of operations</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of operations</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Real estate mortgage secured</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=10% style="border:none;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General Governments</font></font></p>
  </td>
 <td width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">46</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">65</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td width=11% style="height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td width=10% style="height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=26% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other financial
  corporations and individual entrepreneurs (financial business)</font></font></p>
  </td>
 <td width=10% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">133</font></font></p>
  </td>
 <td width=11% style="height:19.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td width=11% style="height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29,320</font></font></p>
  </td>
 <td width=11% style="height:19.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td width=11% style="height:19.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=10% style="height:19.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:19.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td width=26% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-financial
  corporations and individual entrepreneurs (corporate non-financial
  activities)</font></font></p>
  </td>
 <td width=10% style="height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25,420</font></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,723</font></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,922</font></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,777</font></font></p>
  </td>
 <td width=11% style="height:26.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,192</font></font></p>
  </td>
 <td width=10% style="height:26.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">100</font></font></p>
  </td>
 <td width=10% style="height:26.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,773</font></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=26% style="height:20.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Of which: financing
  the construction and property (including land)</font></i></font></p>
  </td>
 <td width=10% style="height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">631</font></i></font></p>
  </td>
 <td width=11% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">200</font></i></font></p>
  </td>
 <td width=11% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,145</font></i></font></p>
  </td>
 <td width=11% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">656</font></i></font></p>
  </td>
 <td width=11% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">254</font></i></font></p>
  </td>
 <td width=10% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></i></font></p>
  </td>
 <td width=10% style="height:20.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">477</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest homes (*)</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">116,916</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">741</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">42,403</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,673</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,435</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">26</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,414</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">142,515</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,533</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">81,657</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,470</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,636</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">126</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,202</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160; Number of operations does not include
Garanti Bank.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Includes mortgage-backed real estate operations
with loan to value ratio of greater than 1, and secured operations, other than
transactions secured by real estate mortgage regardless of their loan to value
ratio.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">The accumulated impairment or accumulated
losses in fair value due to credit risk correspond to &#8364;682 million of
collective impairment losses and &#8364;4,202 million of specific impairment losses.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-278</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_561"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:19.5pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-top:solid black 1.0pt;height:19.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=74% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:19.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">DECEMBER 2017 BALANCE OF FORBEARANCE</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160; (Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=26% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=74% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TOTAL</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap valign=bottom width=26% style="height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Unsecured loans</font></b></font></p>
  </td>
 <td colspan=4 width=42% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Secured loans</font></b></font></p>
  </td>
 <td rowspan=3 width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Accumulated impairment or accumulated losses in fair value due
  to credit risk</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap valign=bottom width=26% style="height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-top:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Maximum amount of secured loans that can be considered</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of operations</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of operations</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Real estate mortgage secured</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="border:none;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General Governments</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">69</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">105</font></font></p>
  </td>
 <td width=10% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">135</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">430</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">112</font></font></p>
  </td>
 <td width=10% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">302</font></font></p>
  </td>
 <td width=10% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=26% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other financial
  corporations and individual entrepreneurs (financial business)</font></font></p>
  </td>
 <td width=11% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,727</font></font></p>
  </td>
 <td width=11% style="height:18.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">36</font></font></p>
  </td>
 <td width=10% style="height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">93</font></font></p>
  </td>
 <td width=11% style="height:18.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td width=11% style="height:18.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td width=10% style="height:18.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:18.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">21</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=26% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-financial
  corporations and individual entrepreneurs (corporate non-financial
  activities)</font></font></p>
  </td>
 <td width=11% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">113,464</font></font></p>
  </td>
 <td width=11% style="height:25.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,672</font></font></p>
  </td>
 <td width=10% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">17,890</font></font></p>
  </td>
 <td width=11% style="height:25.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,258</font></font></p>
  </td>
 <td width=11% style="height:25.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,182</font></font></p>
  </td>
 <td width=10% style="height:25.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">251</font></font></p>
  </td>
 <td width=10% style="height:25.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,579</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=26% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Of which: financing
  the construction and property (including land)</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,812</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">398</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,495</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,345</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,995</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,327</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest homes (*)</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">163,101</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,325</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">109,776</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,477</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,891</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,373</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">281,361</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,138</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">127,894</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15,173</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,186</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">571</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,991</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-top:solid black 1.0pt;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=74% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Of&#160; which:&#160; IMPAIRED</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=26% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Unsecured loans</font></b></font></p>
  </td>
 <td colspan=4 width=42% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Secured loans</font></b></font></p>
  </td>
 <td rowspan=3 width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Accumulated impairment or accumulated losses in fair value due
  to credit risk</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.75pt;">
  <td nowrap valign=bottom width=26% style="height:30.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:30.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-top:solid black 1.0pt;height:30.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% style="border:none;height:30.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:30.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:30.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Maximum amount of secured loans that can be considered</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of operations</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of operations</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Real estate mortgage secured</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=26% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=11% style="border:none;height:14.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:14.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:14.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:14.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:14.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:14.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:14.25pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=26% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General Governments</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">50</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">72</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">45</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">29</font></font></p>
  </td>
 <td width=11% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=26% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other financial
  corporations and individual entrepreneurs (financial business)</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">126</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td width=10% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=11% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">+</font></font></p>
  </td>
 <td width=10% style="height:21.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:21.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=26% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-financial
  corporations and individual entrepreneurs (corporate non-financial
  activities)</font></font></p>
  </td>
 <td width=11% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">95,427</font></font></p>
  </td>
 <td width=11% style="height:25.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,791</font></font></p>
  </td>
 <td width=10% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">10,994</font></font></p>
  </td>
 <td width=11% style="height:25.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,144</font></font></p>
  </td>
 <td width=11% style="height:25.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,983</font></font></p>
  </td>
 <td width=10% style="height:25.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">66</font></font></p>
  </td>
 <td width=10% style="height:25.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,361</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=26% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Of which: financing
  the construction and property (including land)</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,538</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">208</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,779</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,961</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,273</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,282</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest homes (*)</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">105,468</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">747</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47,612</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,330</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,270</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,231</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">201,071</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,615</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">58,667</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,506</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,275</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">72</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,612</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160; Number of operations does not include
Garanti Bank.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:1.05pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Includes mortgage-backed
real estate operations with loan to value ratio of greater than 1, and secured
operations, other than transactions secured by real estate mortgage regardless
of their loan to value ratio.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:1.05pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">The accumulated impairment or accumulated
losses in fair value due to credit risk correspond to &#8364;378 million of
collective impairment losses and &#8364;4,612 million of specific impairment losses. </font></font></p>

<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:107%;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-279</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_562"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-top:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=74% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">DECEMBER 2016 BALANCE OF FORBEARANCE</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&#160;&#160;&#160; (Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=26% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=74% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">TOTAL</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td nowrap valign=bottom width=26% style="height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Unsecured loans</font></b></font></p>
  </td>
 <td colspan=4 width=42% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Secured loans</font></b></font></p>
  </td>
 <td rowspan=3 width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Accumulated impairment or accumulated losses in fair value due
  to credit risk</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td nowrap valign=bottom width=26% style="height:20.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:20.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-top:solid black 1.0pt;height:20.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:20.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:20.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=20% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Maximum amount of secured loans that can be considered</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of operations</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of operations</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Real estate mortgage secured</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="border:none;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General Governments</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">24</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">112</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">711</font></font></p>
  </td>
 <td width=10% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">98</font></font></p>
  </td>
 <td width=10% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">584</font></font></p>
  </td>
 <td width=10% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=26% style="height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other financial
  corporations and individual entrepreneurs (financial business)</font></font></p>
  </td>
 <td width=11% style="height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,349</font></font></p>
  </td>
 <td width=11% style="height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">59</font></font></p>
  </td>
 <td width=11% style="height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">71</font></font></p>
  </td>
 <td width=11% style="height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td width=10% style="height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td width=10% style="height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=26% style="height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-financial
  corporations and individual entrepreneurs (corporate non-financial
  activities)</font></font></p>
  </td>
 <td width=11% style="height:28.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">125,328</font></font></p>
  </td>
 <td width=11% style="height:28.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,057</font></font></p>
  </td>
 <td width=11% style="height:28.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">25,327</font></font></p>
  </td>
 <td width=11% style="height:28.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,643</font></font></p>
  </td>
 <td width=10% style="height:28.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,844</font></font></p>
  </td>
 <td width=10% style="height:28.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">124</font></font></p>
  </td>
 <td width=10% style="height:28.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,310</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=26% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Of which: financing
  the construction and property (including land)</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,519</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">496</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,102</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,395</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">694</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,552</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest homes (*)</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">116,961</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,550</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">103,868</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,243</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,628</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">18</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,474</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">245,662</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,674</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">129,378</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">19,615</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12,576</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">726</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,798</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 width=74% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Of&#160; which:&#160; IMPAIRED</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=26% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Unsecured loans</font></b></font></p>
  </td>
 <td colspan=4 width=42% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Secured loans</font></b></font></p>
  </td>
 <td rowspan=3 width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Accumulated impairment or accumulated losses in fair value due
  to credit risk</font></b></font></p>
  </td>
 </tr>
<tr style="height:32.25pt;">
  <td nowrap valign=bottom width=26% style="height:32.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:32.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-top:solid black 1.0pt;height:32.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:32.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;height:32.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=20% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Maximum amount of secured loans that can be considered</font></b></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of operations</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Number of operations</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Real estate mortgage secured</font></b></font></p>
  </td>
 <td width=10% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:29.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=26% style="border:none;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=11% style="border:none;height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=11% style="border:none;height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="border:none;height:18.0pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">General Governments</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53</font></font></p>
  </td>
 <td width=11% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">33</font></font></p>
  </td>
 <td width=10% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">27</font></font></p>
  </td>
 <td width=10% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=26% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Other financial
  corporations and individual entrepreneurs (financial business)</font></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">131</font></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">22</font></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=26% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Non-financial
  corporations and individual entrepreneurs (corporate non-financial
  activities)</font></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">103,310</font></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,857</font></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">16,327</font></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,924</font></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,002</font></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">53</font></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,986</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=26% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Of which: financing
  the construction and property (including land)</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,191</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">304</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,188</font></i></font></p>
  </td>
 <td width=11% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,848</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">494</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td width=10% style="height:16.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,499</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest homes (*)</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">72,199</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">672</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">47,767</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,366</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,271</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,285</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">175,652</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,545</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">64,169</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11,325</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,300</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">57</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,281</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160; Number of operations does not include
Garanti Bank.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:1.05pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Includes mortgage-backed
real estate operations with loan to value ratio of greater than 1, and secured
operations, other than transactions secured by real estate mortgage regardless
of their loan to value ratio.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:1.05pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">The accumulated impairment or accumulated
losses in fair value due to credit risk correspond to &#8364;517 million of
collective impairment losses and &#8364;6,281 million of specific impairment losses.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-280</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_563"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">In addition
to the restructuring and refinancing transactions mentioned in this section,
loans that were not considered impaired or renegotiated have been modified
based on the criteria set out in the accounting regulation that applies. These
loans have not been classified as renegotiated or impaired, since they were
modified for commercial or competitive reasons (for instance, to improve
relationships with clients) rather than for economic or legal reasons relating
to the borrower's financial situation.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The table below provides a roll forward of refinanced assets
during 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Refinanced assets
  Roll forward. December 2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=31% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=24% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Stages 1&amp;2</font></b></font></p>
  </td>
 <td colspan=2 width=23% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Stage 3</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">TOTAL</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=31% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Risk</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Coverage</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Risk</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Coverage</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Risk</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Coverage</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=31% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,191</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">378</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,120</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,612</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,311</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,991</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=31% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(+) Additions</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,599</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">397</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,417</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">767</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,017</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,164</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(-) Decreases
  (payments or repayments)</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,098)</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(47)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,280)</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,282)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(3,378)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,330)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(-) Foreclosures</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&#160;-&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&#160;-&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(339)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(216)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(339)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(216)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=31% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(-) Write-offs</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(857)</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(606)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(859)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(607)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=31% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(+)/(-) Other</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,524)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(45)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(58)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">927</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,582)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">882</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=31% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Ending Balance</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,166</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">682</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,003</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,202</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,169</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,885</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=7 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Refinanced assets
  Roll forward. December 2017 (*) (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=31% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=24% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Normal</font></b></font></p>
  </td>
 <td colspan=2 width=23% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Impaired</font></b></font></p>
  </td>
 <td colspan=2 width=22% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">TOTAL</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=31% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Risk</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Coverage</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Risk</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Coverage</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Risk</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Coverage</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=31% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,418</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">517</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,869</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,281</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,288</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,798</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=31% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(+) Additions</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,095</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">182</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,614</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">599</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,709</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">781</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=31% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(-) Decreases
  (payments or repayments)</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,462)</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(145)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,754)</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,180)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(5,216)</font></font></p>
  </td>
 <td nowrap width=11% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,325)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=31% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(-) Foreclosures</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(463)</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(267)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(465)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(267)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(-) Write-offs</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(63)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,667)</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,413)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,730)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(1,415)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=31% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(+)/(-) Other</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,795)</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(174)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">521</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">593</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(2,275)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">419</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=31% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Ending Balance</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,191</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">378</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,120</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,612</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,311</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,991</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*) &#160;Data presenting under
the accounting regulation that applied in 2017.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The table
below provides a breakdown by segments of the forbearance operations (net of
provisions) as of December 31, 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Forbearance
  operations. Breakdown by segments (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td nowrap width=41% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=41% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=41% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central governments</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">160</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">518</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">713</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=41% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other financial
  corporations and individual entrepreneurs (financial activity)</font></font></p>
  </td>
 <td nowrap width=20% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13</font></font></p>
  </td>
 <td nowrap width=20% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24</font></font></p>
  </td>
 <td nowrap width=19% style="height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td valign=bottom width=41% style="height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non-financial
  corporations and individual entrepreneurs (non-financial activity)</font></font></p>
  </td>
 <td nowrap width=20% style="height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,512</font></font></p>
  </td>
 <td nowrap width=20% style="height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,351</font></font></p>
  </td>
 <td nowrap width=19% style="height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,390</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=41% style="height:21.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: Financing
  the construction and property development (including land)</font></i></font></p>
  </td>
 <td nowrap width=20% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">702</font></i></font></p>
  </td>
 <td nowrap width=20% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,416</font></i></font></p>
  </td>
 <td nowrap width=19% style="height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,339</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=41% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Households</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,600</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,428</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,319</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=41% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total carrying
  amount</font></b></font></p>
  </td>
 <td nowrap width=20% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,284</font></b></font></p>
  </td>
 <td nowrap width=20% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,321</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,491</font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=41% style="border:none;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financing classified
  as non-current assets and disposal groups held for sale</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_564"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">NPL
ratio by type of renegotiated loan</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The non performing ratio of the renegotiated
portfolio is defined as the impaired balance of renegotiated loans that shows
signs of difficulties as of the closing of the reporting period, divided by the
total payment outstanding in that portfolio.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, the non
performing ratio for each of the portfolios of renegotiated loans is as
follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=2 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2018. NPL
  ratio renegotiated loan portfolio</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=68% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=32% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Ratio of Impaired loans - Past due</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=68% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=32% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=68% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Commercial</font></font></p>
  </td>
 <td nowrap width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">64%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=68% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Of which:
  Construction and developer</font></font></p>
  </td>
 <td nowrap width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">70%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=68% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other consumer</font></font></p>
  </td>
 <td nowrap width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=2 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2017. NPL
  ratio renegotiated loan portfolio</font></font></p>
  </td>
 </tr>
<tr style="height:31.5pt;">
  <td nowrap width=68% style="border:none;border-bottom:solid black 1.0pt;height:31.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=32% style="border:none;border-bottom:solid black 1.0pt;height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Ratio of Impaired loans - Past due</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=68% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=32% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=68% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Commercial</font></font></p>
  </td>
 <td nowrap width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=68% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Of which:
  Construction and developer</font></font></p>
  </td>
 <td nowrap width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">79%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=68% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other consumer</font></font></p>
  </td>
 <td nowrap width=32% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">52%</font></font></p>
  </td>
 </tr>
</table></div>





<font face="Times New Roman,serif" style="border:none;">
&nbsp;</font>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-282</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_565"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;text-align:justify;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">b)&#160;&#160; Qualitative information on the concentration of risk by
activity and guarantees</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:21.3pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=#006EC1 face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Loans and advances to customers by activity
(carrying amount) </font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018
  (Millions OF Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=top width=32% style="border:none;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=41% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Collateralized loans and receivables -Loans and advances to
  customers. </font></b></font><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:42.75pt;">
  <td nowrap width=32% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Mortgage loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Secured loans</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=32% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 General governments</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30,488</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,056</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,750</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,729</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,856</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,119</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,514</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">588</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,802</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">233</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,549</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,167</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">221</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">93</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,209</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">92</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3 Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">173,493</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,001</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,371</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,211</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,121</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,793</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,087</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,160</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.1 Construction
  and property development </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,323</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,226</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,539</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,979</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,556</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,140</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">486</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">605</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.2 Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,775</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,082</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">620</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">703</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">285</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">195</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">200</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">319</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3 Other purposes</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">151,394</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,694</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,212</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,529</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,281</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,459</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,401</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,235</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.1 Large
  companies </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">97,132</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,912</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,069</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,918</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,979</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,019</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,245</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,820</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.2 SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54,262</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,782</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,143</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,611</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,302</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,440</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,156</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,416</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4 Rest of households
  and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">163,068</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">109,578</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,854</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,974</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,860</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33,200</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,490</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,908</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.1 Housing </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">111,007</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">105,817</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,419</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,981</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,384</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,122</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,345</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,404</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.2 Consumption </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,124</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">522</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,600</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">489</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">587</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">306</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,597</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">142</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.3 Other purposes </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,938</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,239</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">835</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,505</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">888</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">772</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">547</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">362</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=32% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6&#160;&#160;&#160; TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">387,850</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">139,868</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58,524</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">50,082</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">41,058</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44,206</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">41,300</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,747</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">MEMORANDUM:</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,284</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,325</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">523</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,508</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,421</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,769</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,527</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,623</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160;&#160; The
amounts included in this table are net of impairment losses.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(**) &#160;&#160;Small
and medium enterprises</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(***)&#160; Nonprofit
institutions serving households.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:33.75pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(****) Net of provisions
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-283</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_566"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=top width=33% style="border:none;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=40% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Collateralized Credit Risk. Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:45.0pt;">
  <td nowrap width=33% style="border:none;border-bottom:solid black 1.0pt;height:45.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Mortgage loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Secured loans</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 General governments</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,294</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">998</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,167</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,540</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">179</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">475</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">532</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,440</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,669</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">319</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,910</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">314</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">277</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">106</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,349</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,183</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3 Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">172,338</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39,722</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,793</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,697</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,878</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,183</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,167</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,591</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.1 Construction
  and property development </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,599</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,664</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,066</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,518</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">876</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,049</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,313</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,974</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.2 Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,733</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,404</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">521</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">449</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">358</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">289</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">162</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">667</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3 Other purposes</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">150,006</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,654</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,206</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,729</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,644</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,845</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,692</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,950</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.1 Large
  companies </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">93,604</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,513</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,868</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,769</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,252</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,023</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,631</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,706</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.2 SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56,402</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,142</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,338</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,960</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,392</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,823</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,061</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,244</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4 Rest of households
  and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">165,024</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">114,558</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,395</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,762</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,807</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,595</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,122</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,667</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.1 Housing </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">114,709</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">111,604</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">128</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,251</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,222</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,029</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,154</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,076</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.2 Consumption </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,705</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">670</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,784</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,058</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">256</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">192</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">316</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,632</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.3 Other purposes </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,609</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,284</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,483</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">452</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">330</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">374</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">652</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,959</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=33% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6&#160;&#160;&#160; TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">388,325</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">155,597</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53,266</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33,312</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,142</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,359</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43,170</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">71,882</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">MEMORANDUM:</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,321</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,584</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,117</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,485</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,315</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,871</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,580</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,451</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160;&#160; The amounts included in
this table are net of impairment losses.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(**)&#160;&#160; Small and medium
enterprises.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(***)&#160; Nonprofit institutions
serving households.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(****) Net of provisions.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-284</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_567"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=31% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=42% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Collateralized Credit Risk. Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:45.0pt;">
  <td nowrap width=31% style="border:none;border-bottom:solid black 1.0pt;height:45.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Mortgage loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Secured loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=9% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=31% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 General governments</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,820</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,722</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,700</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">380</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">715</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,266</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,740</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,320</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,181</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">800</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,168</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">650</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">464</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">319</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,846</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">690</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3 Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">183,871</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47,105</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,663</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,000</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,122</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,667</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,445</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,533</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.1 Construction
  and property development </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,283</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,888</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,736</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,074</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,173</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,843</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,217</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,316</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.2 Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,884</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,920</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">478</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">508</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">547</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">469</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">379</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">494</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3 Other purposes</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">155,704</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,297</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,449</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,417</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,402</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,356</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,850</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,722</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.1 Large
  companies </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">107,550</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,041</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,349</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,311</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,149</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,777</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,160</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,993</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.2 SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48,154</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,257</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,100</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,106</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,253</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,579</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,689</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,729</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4 Rest of households
  and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">178,781</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">129,590</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,257</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,906</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,764</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,434</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,254</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,489</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.1 Housing </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">127,606</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">124,427</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">477</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,802</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,120</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,713</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,148</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,122</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.2 Consumption </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44,504</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,181</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,732</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,535</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,278</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,230</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,322</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">547</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=31% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.3 Other purposes </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,671</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,982</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,048</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">569</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">366</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">491</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">784</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">820</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=31% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6&#160;&#160;&#160; TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">414,654</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">182,216</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39,789</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39,936</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39,065</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47,687</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58,286</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37,032</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=31% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">MEMORANDUM:</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=31% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,491</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,031</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,504</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,703</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,845</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,316</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,091</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,580</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160;&#160; The amounts included in
this table are net of impairment losses.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(**)&#160;&#160; Small and medium
enterprises.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(***)&#160; Nonprofit institutions
serving households.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(****) Net of provisions.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-285</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_568"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The information of the main
geographic areas is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2018
  (Millions Of Euros) BBVA, S.A.</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=41% style="border:none;border-bottom:solid #004481 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Collateralized loans and receivables -Loans and advances to
  customers. </font></b></font><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:56.25pt;">
  <td nowrap width=33% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Mortgage loans</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Secured loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 General governments</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,828</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">390</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">572</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">68</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">209</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">94</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">575</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,079</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">103</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,161</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">70</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,159</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3 Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">74,558</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,614</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,592</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,674</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,935</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,622</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,282</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,692</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.1 Construction
  and property development </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,206</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,069</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">544</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">705</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">493</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">199</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">150</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.2 Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,877</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">991</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">70</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">327</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">247</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">178</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">246</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3 Other purposes</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">67,475</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,554</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,500</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,803</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,984</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,952</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,019</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,296</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.1 Large
  companies </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44,529</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,843</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">318</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,086</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">789</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">497</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">272</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">517</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.2 SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,947</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,711</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,182</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,717</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,195</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,455</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">747</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">779</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4 Rest of households
  and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">94,129</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">79,755</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">413</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,476</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,737</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,511</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,128</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,315</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.1 Housing </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">79,054</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">77,061</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">136</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,623</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,946</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,768</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,803</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,056</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.2 Consumption </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,321</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">131</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">147</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">77</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.3 Other purposes </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,754</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,563</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">130</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">786</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">733</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">667</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">282</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">225</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6&#160;&#160;&#160; TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">202,594</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">92,861</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,738</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,289</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,901</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,231</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,143</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,035</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">MEMORANDUM:</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,143</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,308</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">85</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,173</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,189</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,365</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,225</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,441</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160;&#160; The
amounts included in this table are net of impairment losses.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(**) &#160;&#160;Small
and medium enterprises.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(***)&#160; Nonprofit
institutions serving households.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:33.75pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(****) Net of provisions.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-286</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_569"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2018 (Millions Of Euros) Bancomer</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=33% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=41% style="border:none;border-bottom:solid #004481 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Collateralized loans and receivables -Loans and advances to
  customers. </font></b></font><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:56.25pt;">
  <td nowrap width=33% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Mortgage loans</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Secured loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 General governments</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,725</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,612</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">762</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">730</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">88</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">720</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">312</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,279</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">788</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">714</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3 Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,608</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">85</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,107</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,662</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">833</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">878</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">815</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,004</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.1 Construction
  and property development </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">883</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">547</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">220</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">148</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">91</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.2 Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">354</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">257</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">208</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3 Other purposes</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,371</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,303</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,233</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">680</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">781</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">726</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,961</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.1 Large
  companies </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,762</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,918</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,294</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">265</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">571</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">311</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">476</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.2 SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,609</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,385</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,939</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">415</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">209</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">415</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,485</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4 Rest of households
  and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,198</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,714</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">901</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,833</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,874</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,847</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">264</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.1 Housing </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,714</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,714</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">900</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,833</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,874</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,847</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">261</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.2 Consumption </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,897</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.3 Other purposes </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">587</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6&#160;&#160;&#160; TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49,810</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,804</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,511</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,038</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,409</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,880</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,399</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,589</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">MEMORANDUM:</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">486</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">236</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">148</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">128</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">51</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">89</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160;&#160; The
amounts included in this table are net of impairment losses.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(**) &#160;&#160;Small
and medium enterprises.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(***)&#160; Nonprofit
institutions serving households.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:33.75pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(****) Net of provisions.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-287</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_570"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2018 (Millions Of Euros) Compass Bank</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=33% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=41% style="border:none;border-bottom:solid #004481 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Collateralized loans and receivables -Loans and advances to
  customers. </font></b></font><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:56.25pt;">
  <td nowrap width=33% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Mortgage loans</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Secured loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 General governments</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">908</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">129</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">693</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">161</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">179</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">163</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">267</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">52</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,867</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">263</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">253</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3 Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,998</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,277</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,827</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,035</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,185</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,563</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,337</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,984</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.1 Construction
  and property development </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,002</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,731</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,852</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">924</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,300</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,154</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">81</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">124</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.2 Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">297</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">265</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">150</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">98</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3 Other purposes</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,699</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,540</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,711</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,961</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,866</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,405</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,158</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,860</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.1 Large
  companies </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,293</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,790</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,074</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,317</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,331</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,876</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">903</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,438</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.2 SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,406</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">750</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,637</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">645</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">536</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">529</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">255</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">422</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4 Rest of households
  and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,971</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,184</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,475</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,934</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,576</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,501</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,609</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.1 Housing </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,364</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,989</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,255</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,198</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,146</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,317</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,559</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.2 Consumption </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,051</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">664</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">169</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">337</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">124</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.3 Other purposes </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,556</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">195</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">555</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">566</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">93</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">60</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6&#160;&#160;&#160; TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">51,744</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,625</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,259</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,384</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,947</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,244</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,219</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,090</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">MEMORANDUM:</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">625</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">241</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">237</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">97</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">213</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">109</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160;&#160; The
amounts included in this table are net of impairment losses.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(**) &#160;&#160;Small
and medium enterprises.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(***)&#160; Nonprofit
institutions serving households.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:33.75pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(****) Net of provisions.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-288</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_571"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2018 (Millions Of Euros) Garanti Bank</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=33% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=41% style="border:none;border-bottom:solid #004481 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Collateralized loans and receivables -Loans and advances to
  customers. </font></b></font><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:56.25pt;">
  <td nowrap width=33% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Mortgage loans</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Secured loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 General governments</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">94</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">529</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">63</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3 Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,485</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,812</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">427</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,724</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,381</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,901</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">521</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">712</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.1 Construction
  and property development </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,184</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">921</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">238</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">287</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">306</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">83</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">60</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.2 Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,912</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3 Other purposes</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,390</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,891</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">374</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,487</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,094</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,595</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">437</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">652</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.1 Large
  companies </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,900</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,261</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">102</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">877</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">293</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">735</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">182</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">275</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.2 SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,490</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,630</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">272</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">610</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">800</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">860</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">255</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">377</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4 Rest of households and
  NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,030</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,404</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">958</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,367</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">71</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.1 Housing </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,597</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,234</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">902</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,295</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.2 Consumption </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,151</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.3 Other purposes </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">281</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">107</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6&#160;&#160;&#160; TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,138</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,279</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">483</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,683</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,769</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,003</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">573</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">733</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">MEMORANDUM:</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,372</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">149</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">0</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">65</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160;&#160; The
amounts included in this table are net of impairment losses.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(**) &#160;&#160;Small
and medium enterprises.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(***)&#160; Nonprofit
institutions serving households.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:33.75pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(****) Net of provisions.
</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2018 (Millions Of Euros) Other Entities</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=33% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=41% style="border:none;border-bottom:solid #004481 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Collateralized loans and receivables -Loans and advances to
  customers. </font></b></font><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:56.25pt;">
  <td nowrap width=33% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Mortgage loans</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: Secured loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=8% style="border-bottom:solid #004481 1.0pt;border-left:none;border-right:none;border-top:solid #004481 1.0pt;height:56.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 General governments</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,932</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">538</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,873</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">738</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">737</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">774</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,952</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">209</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2 Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,048</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">307</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">129</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">161</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3 Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,844</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,214</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,418</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,116</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">787</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">829</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,133</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,767</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.1 Construction
  and property development </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,049</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">500</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">65</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">115</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">96</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">60</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">242</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.2 Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">336</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">59</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3 Other purposes</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,459</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,632</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,324</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,045</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">658</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">727</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,060</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,466</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.1 Large
  companies </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,648</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,018</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">656</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">344</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">301</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">340</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">576</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,113</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3.3.2 SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,811</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,613</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">667</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">701</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">356</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">387</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">484</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,353</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4 Rest of households
  and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,740</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,521</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,934</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,705</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,346</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,242</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,874</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,287</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.1 Housing </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,277</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,818</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,357</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,165</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,128</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,134</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,062</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.2 Consumption </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,704</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">328</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,763</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">218</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">154</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">93</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,522</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">104</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4.3 Other purposes </font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,759</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">375</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">143</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">130</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">218</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">121</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6&#160;&#160;&#160; TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47,564</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,300</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,533</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,688</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,032</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,847</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,966</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,300</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">MEMORANDUM:</font></i></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=33% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">658</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">391</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">52</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">152</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">84</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40</font></i></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">113</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160;&#160;&#160; The
amounts included in this table are net of impairment losses.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(**) &#160;&#160;Small
and medium enterprises.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:33.75pt;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(***)&#160; Nonprofit
institutions serving households.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:33.75pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(****) Net of provisions.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-290</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_573"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;text-align:justify;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">c) &#160;&#160;Information on
the concentration of risk by activity and geographical areas.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:34.5pt;">
  <td nowrap width=50% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">TOTAL(*)</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">European Union Other</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">America</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=50% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">113,978</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,728</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">33,440</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,234</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,575</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=50% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">123,382</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53,686</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,081</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">50,092</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,523</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=50% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central Administration</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87,611</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,691</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,756</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,735</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,428</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=50% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,771</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,995</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">325</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,357</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">95</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=50% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49,166</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,784</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,977</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,345</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,061</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=50% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">226,487</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">70,536</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,565</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87,419</font></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43,967</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=50% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Construction and property
  development </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,697</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,497</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">244</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,113</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,843</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=50% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,430</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,789</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,535</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,762</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,343</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=50% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other purposes</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">197,361</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">61,250</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,786</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">75,543</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">37,781</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=50% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Large companies </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">137,150</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,964</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,114</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53,423</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,649</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=50% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">SMEs and individual
  entrepreneurs </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">60,211</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,286</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">672</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,120</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,132</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=50% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other households and
  NPISHs</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">163,443</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">91,977</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,383</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56,777</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,306</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=50% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Housing </font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">111,007</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78,414</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">765</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">28,034</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,794</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=50% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Consumer</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,124</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,303</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">629</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,036</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,155</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=50% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other purposes </font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,312</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,259</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,989</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,707</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">357</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=50% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">676,456</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">265,710</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90,447</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">240,867</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">79,432</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160; </font><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The definition of risk for the
purpose of this statement includes the following items on the public balance
sheet: Loans and advances to credit institutions, Loans and advances, Debt
securities, Equity instruments, Other equity securities, Derivatives and
hedging derivatives, Investments in subsidiaries, joint ventures and associates
and guarantees given and Contingent risks. The amounts included in this table
are net of impairment losses</font><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">.
&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-291</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_574"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:32.25pt;">
  <td nowrap width=44% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">TOTAL(*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">European Union Other</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">America</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:32.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=44% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">70,141</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,606</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,623</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,490</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,422</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=44% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">121,863</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55,391</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,940</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44,191</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,341</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=44% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central
  Administration</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">83,673</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,597</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,625</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,211</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,240</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=44% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38,190</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,794</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">316</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,980</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">101</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=44% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48,000</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,175</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,283</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,469</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,074</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=44% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">228,227</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78,507</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,485</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">80,777</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48,458</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=44% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Construction and
  property development </font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,619</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,623</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">339</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,834</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,822</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=44% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,348</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,936</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,302</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,267</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,843</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=44% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other purposes</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">197,260</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66,948</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,843</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69,676</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">41,793</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=44% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Large companies </font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">134,454</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43,286</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,470</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48,016</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,681</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=44% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">SMEs and individual
  entrepreneurs </font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62,807</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,662</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,373</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,660</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,112</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=44% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other households and
  NPISHs</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">165,667</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">93,774</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,609</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53,615</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,669</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=44% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Housing </font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">114,710</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">81,815</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,720</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,815</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,361</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=44% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Consumer</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,705</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,711</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">649</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,759</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,587</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=44% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other purposes </font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,251</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,248</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">241</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,041</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">721</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=44% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">633,899</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">257,453</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">84,940</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">204,542</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">86,964</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160; </font><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The definition of risk for the
purpose of this statement includes the following items on the public balance
sheet: Loans and advances to credit institutions, Loans and advances, Debt
securities, Equity instruments, Other equity securities, Derivatives and
hedging derivatives, Investments in subsidiaries, joint ventures and associates
and guarantees given and Contingent risks. The amounts included in this table
are net of impairment losses</font><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">.
&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-292</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_575"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:37.5pt;">
  <td nowrap width=45% style="border:none;border-bottom:solid black 1.0pt;height:37.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">TOTAL(*)</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">European Union Other</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">America</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=45% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">84,381</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,198</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,552</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,498</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,133</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=45% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">134,261</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">61,495</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,865</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47,072</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,829</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central
  Administration</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">92,155</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">39,080</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,550</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,758</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,768</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,105</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,415</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">315</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,314</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">61</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47,029</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,942</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,881</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,631</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,576</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=45% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">249,322</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">69,833</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,335</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">98,797</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54,357</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Construction and
  property development </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,141</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,572</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">371</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,988</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,209</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,185</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,180</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,493</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,803</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,709</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other purposes</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">211,996</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58,080</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,471</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">83,005</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">47,439</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Large companies </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">158,356</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,514</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,074</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">64,940</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,828</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">SMEs and individual
  entrepreneurs </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53,640</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,566</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,397</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,065</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,611</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other households and
  NPISHs</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">179,051</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">96,345</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,796</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62,836</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,073</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Housing </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">127,607</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">85,763</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,025</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,775</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,044</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Consumer</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44,504</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,230</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">642</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,398</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,234</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=45% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other purposes </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,939</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,352</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">129</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,663</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">795</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=45% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">694,044</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">256,813</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">100,428</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">238,834</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">97,968</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:33.75pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160; </font><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The definition
of risk for the purpose of this statement includes the following items on the
public balance sheet: Loans and advances to credit institutions, Loans and
advances, Debt securities, Equity instruments, Other equity securities,
Derivatives and hedging derivatives, Investments in subsidiaries, joint
ventures and associates and guarantees given and Contingent risks. The amounts
included in this table are net of impairment losses</font><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">.&nbsp;</font></font></p>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>



<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><a name="_Toc505356002"></a><a name="_Toc106117"></a><a name="_Toc495480021"></a><a name="_Toc492911515"></a><a name="_Toc481574719"></a><a name="_Toc457382067"></a><a name="_Toc442077900"></a></p>
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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_576"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:14.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-35.45pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;layout-grid-mode:char;">APPENDIX IX </font></b></font><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;layout-grid-mode:char;">Additional
information on Risk Concentration</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:-17.45pt;"><a name="_Toc106118"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">a) Sovereign risk exposure</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The table below provides a breakdown of exposure to financial
assets (excluding derivatives and equity instruments), as of December 31, 2018,
2017 and &#160;2016 by type of counterparty and the country of residence of such
counterparty. The below figures do not take into account accumulated other </font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">comprehensive&nbsp;</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">
income, impairment losses or loan-loss provisions:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Risk Exposure by
  Countries (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=44% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Sovereign Risk</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=15% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 <td width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">52,970 </font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54,625 </font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">60,434 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,998 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,825 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,478 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Italy</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,249 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,827 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,206 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">France</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">122 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">383 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">518 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Portugal</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">529 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">722 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">586 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Germany</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">362 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">259 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">521 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">United Kingdom</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">51 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">41 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Ireland</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Greece</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of Europe</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">699 </font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">662 </font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">940 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal Europe</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">71,981</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">76,343</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">85,699</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,562 </font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,114 </font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,942 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">The United States</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,645 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,059 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,039 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Venezuela</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1 </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">137 </font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">179 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of countries</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,910 </font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,809 </font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,814 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=56% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Subtotal Rest
  of Countries</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">50,118</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">45,119</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#2DCCCD;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46,974</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total Exposure to
  Financial Instruments</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">122,099</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">121,462</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">132,674</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
exposure to sovereign risk set out in the above table includes positions held
in government debt securities in countries where the Group operates. They are
used for ALCO&#8217;s management of the interest-rate risk on the balance sheets of
the Group&#8217;s entities in these countries, as well as for hedging of pension and
insurance commitments by insurance entities within the BBVA Group.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-294</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#009EE5 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Sovereign
risk exposure in Europe</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The table below provides a breakdown of the exposure of the
Group&#8217;s credit institutions to European sovereign risk as of December 31, 2018
and 2017 by type of financial instrument and the country of residence of the
counterparty, under EBA (European Banking Authority) requirements: </font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=12 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Exposure to Sovereign
  Risk by European Union Countries. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">December 2018
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=23% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Debt securities</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Loans and advances</font></b></font></p>
  </td>
 <td colspan=6 width=42% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Derivatives</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Total</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=23% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Direct exposure</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Indirect exposure</font></b></font></p>
  </td>
 </tr>
<tr style="height:71.25pt;">
  <td width=23% style="border:none;border-bottom:solid black 1.0pt;height:71.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:71.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:71.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Notional value</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:71.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value +</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:71.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value -</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:71.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Notional value</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:71.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value +</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:71.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value -</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=23% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">5,237 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">43,236 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,264 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">57 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(3,224)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,130 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,117)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">46,568 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">79%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=23% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Italy</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,726 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8,270 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(795)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">210 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(298)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">9,112 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">15%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=23% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">France</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">591 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">77 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">150 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(32)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">787 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=23% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Germany</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">310 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">334 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">182 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">74 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(87)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">813 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=23% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Portugal</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">265 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">430 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">277 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">57 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(57)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">67 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">37 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(26)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,050 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=23% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">United Kingdom</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">45 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">45 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=23% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Greece</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=23% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Hungary</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=23% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Ireland</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">548 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">548 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=23% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Rest of European
  Union</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">300 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">31 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(36)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">3 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">295 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0%</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=23% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.0pt;">Total Exposure to
  Sovereign Counterparties (European Union)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8,428</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">52,971</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,541</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">113</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(71)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(3,656)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,454</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,563)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">59,218</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100%</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This table
shows sovereign risk balances with EBA criteria. Therefore, sovereign risk of
the Group&#8217;s insurance companies (&#8364;10,883 million as of December 31, 2018) is
not included. Includes credit derivatives CDS (Credit Default Swaps) shown at
fair value.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=13 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Exposure to Sovereign
  Risk by European Union Countries. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">December 2017
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=16% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Debt securities</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Loans and receivables</font></b></font></p>
  </td>
 <td colspan=6 width=42% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Derivatives</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Total</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Direct exposure</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Indirect exposure</font></b></font></p>
  </td>
 </tr>
<tr style="height:82.5pt;">
  <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:82.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Financial Assets Held-for-Trading</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Available-for-Sale Financial Assets</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Held -to-maturity investment</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Notional value</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value +</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value -</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Notional value</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value +</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value -</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">7,065 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">14,029 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">5,754 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">22,101 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,513 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">62 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">591 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,082 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(773)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">51,410 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">75.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Italy</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">4,606 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">4,292 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,349 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">55 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(57)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">648 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(237)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">11,657 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">17.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">France</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">622 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">27 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">329 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">15 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(19)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">983 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1.4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Germany</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">517 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">826 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">26 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(17)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,352 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Portugal</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">832 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">202 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,019 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(44)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">176 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">87 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(53)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,221 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">3.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">United Kingdom</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">37 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">35 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Greece</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Hungary</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Ireland</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Rest of European
  Union</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">38 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">505 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">32 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">31 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">5 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">607 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0.9%</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=16% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.0pt;">Total Exposure to
  Sovereign Counterparties (European Union)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">13,681</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">18,835</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8,103</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">22,453</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,533</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">64</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(59)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,896</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,863</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,104)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">68,265</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100.0%</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-295</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_578"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This table
shows sovereign risk balances with EBA criteria. Therefore, sovereign risk of
the Group&#8217;s insurance companies (&#8364;10,474 million as of December 31, 2017) is
not included. Includes credit derivatives CDS (Credit Default Swaps) shown at
fair value.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=13 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Exposure to Sovereign
  Risk by European Union Countries. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">December 2016
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=16% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Debt securities</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Loans and receivables</font></b></font></p>
  </td>
 <td colspan=6 width=42% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Derivatives (2)</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Total</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Direct exposure</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Indirect exposure</font></b></font></p>
  </td>
 </tr>
<tr style="height:82.5pt;">
  <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:82.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Financial Assets Held-for-Trading</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Available-for-Sale Financial Assets</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Held -to-maturity investment</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Notional value</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value +</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value -</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Notional value</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value +</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:82.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value -</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">927 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">13,385 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8,063 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">24,835 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,786 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">88 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(27)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(744)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">993 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,569)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">47,737 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">81.4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Italy</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,973 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">4,806 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,719 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">60 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,321)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,271 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(866)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8,641 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">14.7%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">France</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">250 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">28 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(13)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">46 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(63)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">248 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0.4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Germany</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">82 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">203 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(249)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">30 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Portugal</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">54 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">285 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,150 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(215)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">10 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,280 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2.2%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">United Kingdom</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">16 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Greece</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Hungary</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Ireland</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Rest of European
  Union</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">195 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">469 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">36 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">30 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">13 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">736 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1.3%</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=16% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.0pt;">Total Exposure to
  Sovereign Counterparties (European Union)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">3,482</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">18,660</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">10,783</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">25,259</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,936</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">88</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(242)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(2,053)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,527</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(2,759)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">58,680</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100.0%</font></b></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-296</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_579"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">This table shows sovereign risk
balances with EBA criteria. Therefore, sovereign risk of the Group&#8217;s insurance
companies (&#8364;10,443 million as of December 31, 2016) is not included. Includes
credit derivatives CDS (Credit Default Swaps) shown at fair value.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and
2016 the breakdown of total exposure faced by the Group&#8217;s credit institutions
to Spain and other countries, by maturity of the financial instruments, is as
follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=12 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Maturities of
  Sovereign Risks European Union. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">December 2018
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=24% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=6% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Debt securities</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Loans and advances</font></b></font></p>
  </td>
 <td colspan=6 width=42% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Derivatives</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Total</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=24% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=6% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Direct exposure</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Indirect exposure</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=24% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Notional value</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value +</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value -</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Notional value</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value +</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value -</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Spain</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">5,237 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">43,236 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,264 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">57 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(3,224)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,130 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,117)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">46,568 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">79%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Up to 1 Year</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,821 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">13,381 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">383 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(3,224)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,130 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,117)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">13,375 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">23%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1 to 5 Years</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">761 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">7,904 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">640 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">42 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">9,340 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">16%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Over 5 Years</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,654 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">21,950 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">242 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">13 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">23,853 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">40%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Rest of
  European Union</font></b></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">3,192 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">9,735 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">277 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">57 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(57)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(431)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">324 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(446)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">12,651 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">21%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Up to 1 Year</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,155 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,328 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">220 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(865)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">297 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(355)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,776 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">5%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1 to 5 Years</font></font></p>
  </td>
 <td nowrap width=6% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">250 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,184 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">57 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">57 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">10 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">16 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(24)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,548 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Over 5 Years</font></font></p>
  </td>
 <td nowrap width=6% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,787 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">6,224 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(52)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">423 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">12 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(67)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8,327 </font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">14%</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=24% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.0pt;">Total Exposure to
  European Union Sovereign Counterparties</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8,428</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">52,971</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,541</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">113</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(71)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(3,656)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,454</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,563)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">59,218</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100%</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=13 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Maturities of
  Sovereign Risks European Union. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">December 2017
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=16% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Debt securities</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Loans and receivables</font></b></font></p>
  </td>
 <td colspan=6 width=42% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Derivatives</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Total</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Direct exposure</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Indirect exposure</font></b></font></p>
  </td>
 </tr>
<tr style="height:57.75pt;">
  <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Financial Assets Held-for-Trading</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Available-for-Sale Financial Assets</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Held -to-maturity investment</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Notional value</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value +</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value -</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Notional value</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value +</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value -</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Spain</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">7,065</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">14,029</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">5,754</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">22,101</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,513</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">62</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(15)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">591</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,082</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(773)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">51,410</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">75%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Up to 1 Year</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,675</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">3,363</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,900</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">7,852</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">69</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">591</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,082</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(773)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">12,312</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">25%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1 to 5 Years</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,196</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,335</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">106</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">7,978</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,131</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">44</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">16,883</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">19%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Over 5 Years</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">3,195</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">9,332</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,747</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">6,271</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">314</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">17</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(14)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">22,215</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">32%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Rest of
  European Union</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">6,616</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">4,806</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,349</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">352</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,019</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(44)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,305</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">781</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(331)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">16,856</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">25%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Up to 1 Year</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,212</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,663</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,895</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">54</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">466</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">744</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">756</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(252)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">3,614</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">11%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1 to 5 Years</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,932</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">192</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">162</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">3</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">0</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">243</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">17</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">7,313</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">5%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Over 5 Years</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,473</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,951</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">454</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">137</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">550</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(38)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">318</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(58)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">5,928</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8%</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=16% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.0pt;">Total Exposure to
  European Union Sovereign Counterparties</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">13,681</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">18,835</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8,103</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">22,453</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,533</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">64</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(59)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,896</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,863</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,104)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">68,265</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100%</font></b></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-297</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_580"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=13 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Maturities of
  Sovereign Risks European Union. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">December 2016
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=16% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Debt securities</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Loans and receivables</font></b></font></p>
  </td>
 <td colspan=6 width=42% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Derivatives</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Total</font></b></font></p>
  </td>
 <td rowspan=3 width=7% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Direct exposure</font></b></font></p>
  </td>
 <td colspan=3 width=21% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Indirect exposure</font></b></font></p>
  </td>
 </tr>
<tr style="height:57.75pt;">
  <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Financial Assets Held-for-Trading</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Available-for-Sale Financial Assets</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Held -to-maturity investment</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Notional value</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value +</font></b></font></p>
  </td>
 <td width=7% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value -</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Notional value</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value +</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Fair value -</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Spain</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">927</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">13,385</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8,063</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">24,835</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,786</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">88</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(27)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(744)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">993</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,569)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">47,737</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">81%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Up to 1 Year</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">913</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">889</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,989</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">9,087</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(736)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">993</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,564)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">11,571</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">20%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1 to 5 Years</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,272</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">3,116</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">3,319</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">7,059</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,209</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">32</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">16,004</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">27%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Over 5 Years</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,259)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">9,380</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,755</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">4,595</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">577</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">56</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(27)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">16,068</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">27%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Rest of
  European Union</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,554</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">5,275</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,719</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">424</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,150</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(215)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,309)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,534</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,191)</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">10,943</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">19%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Up to 1 Year</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(395)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">38</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,721)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,507</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,054)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(1,623)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1 to 5 Years</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,535</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,050</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,958</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">247</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">381</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">194</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">19</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(50)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">6,322</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">11%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">Over 5 Years</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">1,414</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">3,186</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">761</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">175</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">770</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(203)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">218</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(86)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 3.5pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">6,243</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:5.0pt;">11%</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=16% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.0pt;">Total Exposure to
  European Union Sovereign Counterparties</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">3,482</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">18,660</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">10,783</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">25,259</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,936</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">88</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(242)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(2,053)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">2,527</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">(2,759)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">58,680</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:5.0pt;">100%</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>



<font color=#004580 face=Arial,sans-serif style="border:none;">
&nbsp;</font>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-298</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_581"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="_Toc106119"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">b) Concentration of risk on
activities in the real-estate market in Spain</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=#006EC1 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Quantitative information on
activities in the real-estate market in Spain</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The following quantitative information on
real-estate activities in Spain has been prepared using the reporting models
required by Bank of Spain Circular 5/2011, of November 30. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of December 31, 2018, 2017 and 2016,
exposure to the construction sector and real-estate activities in Spain stood
at &#8364;11,045, &#8364;11,981 and &#8364;15,285 million, respectively. Of that amount, risk
from loans to construction and real-estate development activities accounted for
&#8364;3,183, &#8364;5,224 and &#8364;7,930 million, respectively, representing 1.7%, 2.9% and
5.0% of loans and advances to customers of the balance of business in Spain
(excluding the general governments) and 0.5%, 0.8% and 1.1% of the total assets
of the Consolidated Group. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Lending for real estate development of the
loans as of December 31, 2018, 2017 and 2016 is shown below:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:16.5pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">December 2018.
  Financing Allocated by credit institutions to Construction and Real Estate
  Development and lending for house purchase (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross Amount</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Drawn Over the Guarantee Value</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Accumulated impairment</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financing to
  construction and real estate development (including land) (Business in Spain)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,183</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">941</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(537)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160; Of which:
  Impaired assets</font></i></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">875</font></i></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">440</font></i></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(463)</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Memorandum
  item:</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&#160;&#160;&#160;
  Write-offs</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,619</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Memorandum
  item:</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=58% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Total loans and
  advances to customers, excluding the General Governments (Business in Spain)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">183,196</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Total consolidated
  assets (total business)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">676,689</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=58% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Impairment and
  provisions for normal exposures</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,938</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:16.5pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">December 2017. Financing
  Allocated by credit institutions to Construction and Real Estate Development
  and lending for house purchase (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross Amount</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Drawn Over the Guarantee Value</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Accumulated impairment</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financing to
  construction and real estate development (including land) (Business in Spain)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,224</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,132</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,500)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Of which:
  Impaired assets</font></i></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,660</font></i></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,529</font></i></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(1,461)</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Memorandum
  item:</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Write-offs</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,289</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Memorandum
  item:</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=58% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Total loans and
  advances to customers, excluding the General Governments (Business in Spain)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">174,014</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=58% style="height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Total consolidated
  assets (total business)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">690,059</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=58% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Impairment and
  provisions for normal exposures</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,843)</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:16.5pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">December 2016.
  Financing Allocated by credit institutions to Construction and Real Estate
  Development and lending for house purchase (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross Amount</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Drawn Over the Guarantee Value</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Accumulated impairment</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=58% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Financing to
  construction and real estate development (including land) (Business in Spain)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,930</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,449</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,944)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Of which:
  Impaired assets</font></i></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,095</font></i></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,680</font></i></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(2,888)</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Memorandum
  item:</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Write-offs</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,061</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Memorandum
  item:</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=58% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Total loans and advances to customers, excluding the General
  Governments (Business in Spain)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">159,492</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=58% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Total consolidated
  assets (total business)</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">731,856</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=58% style="height:16.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Impairment and
  provisions for normal exposures</font></i></font></p>
  </td>
 <td nowrap width=14% style="height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">(5,830)</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:silver;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-299</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_582"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p align=left style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:left;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The following is a description of
the real estate credit risk based on the types of associated guarantees:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:18.75pt;">
  <td colspan=4 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financing Allocated
  by credit institutions to Construction and Real Estate Development and
  lending for house purchase (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=54% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=54% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Without secured
  loan</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">324</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">552</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">801</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=54% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">With secured
  loan </font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,859</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,672</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,129</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=54% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Terminated buildings</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,861</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,904</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,875</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=54% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,382</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,027</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,954</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=54% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">479</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">877</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">921</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=54% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Buildings under
  construction</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">432</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">462</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">760</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=54% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">408</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">439</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">633</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=54% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">127</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=54% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Land</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">566</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,306</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,494</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=54% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Urbanized land</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">364</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">704</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,196</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=54% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of land</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">202</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">602</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,298</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=54% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,183</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,224</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,930</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, 2017 and 2016, 58.5%, 55.6%, and 48.9% of loans to
developers were guaranteed with buildings (74.3%, 69.8% and 76.2%, are homes),
and only 17.8%, 25.0% and 31.5% by land, of which 64.3%, 53.9% and 48.0% are in
urban locations, respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The table below provides the
breakdown of the financial guarantees given as of December 31, 2018, 2017 and
2016:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Financial guarantees
  given (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=51% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=51% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Houses purchase loans</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">48</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">64</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=51% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Without mortgage</font></font></p>
  </td>
 <td nowrap width=17% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18</font></font></p>
  </td>
 </tr>
</table></div>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-300</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_583"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The
information on the retail mortgage portfolio risk (housing mortgage) as of
December 31, 2018, 2017 and 2016 is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:27.75pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2018.
  Financing Allocated by credit institutions to Construction and Real Estate
  Development and lending for house purchase. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=62% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Gross amount</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:28.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: impaired loans</font></i></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=62% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Houses purchase loans</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">80,159</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,852</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=62% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Without mortgage</font></font></p>
  </td>
 <td nowrap width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,611</font></font></p>
  </td>
 <td nowrap width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=62% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">With mortgage</font></font></p>
  </td>
 <td nowrap width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78,548</font></font></p>
  </td>
 <td nowrap width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,822</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:24.75pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2017.
  Financing Allocated by credit institutions to Construction and Real Estate
  Development and lending for house purchase. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=62% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Gross amount</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: impaired loans</font></i></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=62% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Houses purchase loans</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">83,505</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,821</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=62% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Without mortgage</font></font></p>
  </td>
 <td nowrap width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,578</font></font></p>
  </td>
 <td nowrap width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">51</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=62% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">With mortgage</font></font></p>
  </td>
 <td nowrap width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">81,927</font></font></p>
  </td>
 <td nowrap width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,770</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:31.5pt;">
  <td colspan=3 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:31.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">December 2016.
  Financing Allocated by credit institutions to Construction and Real Estate
  Development and lending for house purchase. </font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">(Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=62% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Gross amount</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Of which: impaired loans</font></i></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=62% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Houses purchase loans</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87,874</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,938</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=62% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Without mortgage</font></font></p>
  </td>
 <td nowrap width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,935</font></font></p>
  </td>
 <td nowrap width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">93</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=62% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">With mortgage</font></font></p>
  </td>
 <td nowrap width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">85,939</font></font></p>
  </td>
 <td nowrap width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,845</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
loan to value (LTV) ratio of the above portfolio is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:24.0pt;">
  <td colspan=7 width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">LTV Breakdown of
  mortgage to households for the purchase of a home (Business in Spain) (Millions
  of euros)&quot;</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=31% style="border:none;height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=6 width=69% style="border:none;border-bottom:solid black 1.0pt;height:15.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Total risk over the amount of the last valuation available (Loan
  To Value-LTV)</font></b></font></p>
  </td>
 </tr>
<tr style="height:51.75pt;">
  <td width=31% style="border:none;border-bottom:solid black 1.0pt;height:51.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:51.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:51.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:51.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:51.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:51.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:51.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=31% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Gross amount 2018</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,491</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,822</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,657</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,070</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,508</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">78,548</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">of which:
  Impaired loans</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">204</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">323</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">507</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">610</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,178</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,822</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Gross amount 2017</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,485</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,197</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,778</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,240</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,227</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">81,927</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">of which:
  Impaired loans</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">293</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">444</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">715</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">897</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,421</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,770</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Gross amount 2016</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,780</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,223</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,705</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,967</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,264</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">85,939</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=31% style="height:12.0pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">of which:
  Impaired loans</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">306</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">447</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">747</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">962</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,383</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,845</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Outstanding
home mortgage loans as of December 31, 2018, 2017 and 2016 had an average LTV
of 49%, 51%, and 47% respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of foreclosed,
acquired, purchased or exchanged assets from debt from loans relating to
business in Spain, as well as the holdings and financing to non-consolidated
entities holding such assets is as follows:
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-301</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_584"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Information about Assets Received in Payment of Debts (Business in
  Spain) (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=56% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 width=44% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:57.75pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Value</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Provisions</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Of which: Valuation adjustments on impaired assets, from the
  time of foreclosure</font></i></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:57.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Carrying Amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=56% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Real estate assets
  from loans to the construction and real estate development sectors in Spain.</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,165</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,252</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">828</font></i></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">913</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=56% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Terminated buildings</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">991</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">445</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">274</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">546</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">588</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">245</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">144</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">343</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">403</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">200</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">130</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">203</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Buildings under
  construction</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">209</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">131</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">96</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">78</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">194</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">117</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">85</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">77</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">11</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=56% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Land</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">965</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">676</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">458</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">289</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=56% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Urbanized land</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">892</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">633</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">421</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">259</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=56% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest of land</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">73</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">37</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">30</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Real estate assets
  from mortgage financing for households for the purchase of a home</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,797</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">932</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">331</font></i></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">865</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Rest of foreclosed
  real estate assets </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">348</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">192</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">40</font></i></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">156</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=56% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Equity instruments,
  investments and financing to non-consolidated companies holding said assets</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,345</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">234</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">234</font></i></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,111</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,655</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,610</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><i><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,433</font></i></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,045</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Additionally,
in December 2018, there was an increase of BBVA, S.A.&#8217;s stake in Garanti
Yatirim Ortakligi AS through its contribution to the capital increase carried
out by the latter entity.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Information about
  Assets Received in Payment of Debts (Business in Spain) (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=55% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 width=45% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=55% style="border:none;border-bottom:solid black 1.0pt;height:51.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:51.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Value</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:51.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Provisions</font></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:51.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Of which: Valuation adjustments on impaired assets, from the
  time of foreclosure</font></i></b></font></p>
  </td>
 <td width=11% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:51.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Carrying Amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=55% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Real estate assets
  from loans to the construction and real estate development sectors in Spain.</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,429</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,350</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,542</font></i></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,079</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=55% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Terminated buildings</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,191</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,184</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">606</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,007</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=55% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,368</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">742</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">366</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">626</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=55% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">823</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">442</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">240</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">381</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Buildings under
  construction</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">541</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">359</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">192</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">182</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=55% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">521</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">347</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">188</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">174</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=55% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">20</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=55% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Land</font></font></p>
  </td>
 <td nowrap width=12% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,697</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,807</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,744</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">890</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=55% style="height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Urbanized land</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,932</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,458</font></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,031</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">474</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=55% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest of land</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,765</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,349</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">713</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">416</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=55% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Real estate assets
  from mortgage financing for households for the purchase of a home</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,592</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,104</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">953</font></i></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,488</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=55% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Rest of foreclosed
  real estate assets </font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,665</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">905</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">268</font></i></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">760</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td valign=bottom width=55% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Equity instruments,
  investments and financing to non-consolidated companies holding said assets</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,135</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">325</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">273</font></i></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">810</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=55% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">12,821</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">7,684</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,036</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,137</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Additionally,
in March 2017, there was an increase of BBVA, S.A.&#8217;s stake in Testa Residencial
through its contribution to the capital increase carried out by the latter
entity by contributing assets from the Bank&#8217;s real estate assets.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-302</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_585"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Information about Assets Received in Payment of Debts (Business in
  Spain) (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=52% style="border:none;height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 width=48% style="border:none;border-bottom:solid black 1.0pt;height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">December 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:53.25pt;">
  <td width=52% style="border:none;border-bottom:solid black 1.0pt;height:53.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:53.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Gross</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Value</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:53.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Provisions</font></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:53.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Of which: Valuation adjustments on impaired assets, from the
  time of foreclosure</font></i></b></font></p>
  </td>
 <td width=12% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top:solid black 1.0pt;height:53.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Carrying Amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=52% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Real estate assets
  from loans to the construction and real estate development sectors in Spain.</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8,017</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">5,290</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,790</font></i></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,727</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=52% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Finished buildings</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,602</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,346</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">688</font></i></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,256</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=52% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,586</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">801</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">408</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">785</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=52% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,016</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">545</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">280</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">471</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=52% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Buildings under
  construction</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">665</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">429</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">203</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">236</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=52% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">642</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">414</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">195</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">228</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=52% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">23</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=52% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Land</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,750</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,515</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,899</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,235</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=52% style="height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Urbanized land</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">3,240</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,382</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,364</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">858</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=52% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Rest of land</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,510</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,133</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">535</font></i></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">377</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=52% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Real estate assets
  from mortgage financing for households for the purchase of a home</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,332</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">2,588</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,069</font></i></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,744</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=52% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Rest of foreclosed
  real estate assets </font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,856</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,006</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">225</font></i></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">850</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=52% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Foreclosed
  equity instruments</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">1,240</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">549</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><i><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">451</font></i></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:6.0pt;">691</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=52% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">15,445</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">9,433</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">4,535</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:6.0pt;">6,012</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, 2017 and 2016, the gross book value of the Group&#8217;s
real-estate assets from corporate financing of real-estate construction and
development was &#8364;2,165, &#8364;6,429 and &#8364;8,017 million, respectively, with an
average coverage ratio of 57.8%, 67.7% and 66.0%, respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The gross
book value of real-estate assets from mortgage lending to households for home
purchase as of December 31, 2018, 2017 and 2016, amounted to &#8364;1,797, &#8364;3,592 and
&#8364;4,332 million, respectively, with an average coverage ratio of 51.9%, 58.6%
and 59.7%.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">As of
December 31, 2018, 2017 and 2016, the gross book value of the BBVA Group&#8217;s
total real-estate assets (business in Spain), including other real-estate
assets received as debt payment, was &#8364;4,310, &#8364;11,686 and &#8364;14,205 million,
respectively. The coverage ratio was 55.1%, 63.0% and 62.5%, respectively. </font></font></p>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>



<p style="border:none;margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><a name="_Toc106120"></a></p>
<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-303</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_586"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:auto;text-align:justify;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">c) Concentration of risk by
geography</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Below is a breakdown of the balances of financial instruments
recorded in the accompanying consolidated balance sheets by their concentration
in geographical areas and according to the residence of the customer or
counterparty. It does not take into account impairment losses or loan-loss
provisions:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Risks by Geographical
  Areas. December 2018 (millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Europe, Excluding Spain</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">USA</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:33.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,979</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,055</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,550</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,057</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">161</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,150</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">583</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30,536</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity
  instruments (*)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,228</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,669</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,459</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,139</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">212</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">207</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,944</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43,777</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,908</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,134</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,991</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,048</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,274</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,312</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">113,445</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,982</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">71</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,052</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,553</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,675</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,891</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,276</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,887</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,431</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">164</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">91,877</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,130</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,821</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">573</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">74</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">155</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">297</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">463</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,514</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,769</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,048</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">227</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,595</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">432</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">114</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,190</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">325</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,364</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,443</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,046</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">132</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">500</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,812</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and
  advances</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">177,077</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">43,034</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">55,248</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">62,193</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">45,285</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,007</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,089</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">429,933</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">294</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,688</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">342</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,674</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,110</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,671</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">329</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,727</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,369</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">99</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,923</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">453</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">30,572</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,422</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,600</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,476</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">696</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">956</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">984</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">639</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">23,774</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,616</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,893</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,303</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,255</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">766</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">637</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">304</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,773</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">51,942</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,317</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,426</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,480</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,813</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,518</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,852</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">170,349</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Households</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">98,131</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,783</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">24,316</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,393</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,963</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,602</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">168</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">178,355</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total Risk in
  Financial Assets</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">228,061</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">77,666</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82,392</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87,381</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">53,523</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">46,644</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,191</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">584,858</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loan commitments
  given</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,582</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,983</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,503</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,136</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,914</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,590</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,252</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">118,959</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Financial guarantees
  given</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,242</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,708</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,528</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">796</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,900</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">989</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,291</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,454</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other Commitments
  given</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,995</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,229</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">532</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,118</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,230</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,782</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,213</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,098</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Off-balance
  sheet exposures</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">51,819</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,920</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,563</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,050</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,043</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,360</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,756</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">170,511</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total Risks in
  Financial Instruments</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">279,880</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">110,586</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">98,955</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">122,430</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">70,567</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">59,004</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,947</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">755,369</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">(*)&#160; Equity instruments are shown net of
valuation adjustment.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-304</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_587"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Risks by Geographical Areas. December 2017 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Europe, Excluding Spain</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">USA</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,336</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,506</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,847</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,573</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">113</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">977</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">921</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">35,273</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity
  instruments (*)</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,539</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,888</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,050</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">991</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">333</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">71</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,908</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">44,773</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,582</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21,594</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,280</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,601</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,861</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,450</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">113,141</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,734</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,685</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,468</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,658</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,475</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,323</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,894</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,668</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,246</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">221</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">88,485</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,364</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,095</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">289</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">98</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">884</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">387</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">752</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,869</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,492</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">994</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">337</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,026</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">315</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">194</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,365</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">259</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,018</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,645</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,262</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">228</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">234</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,688</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and
  advances</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">185,597</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">41,426</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">50,352</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54,315</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">56,062</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,334</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,585</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">434,670</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">626</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,299</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,375</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,300</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,116</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">352</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,868</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,165</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">152</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,354</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">398</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,405</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,564</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15,493</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,889</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">789</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,073</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,145</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">345</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,297</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,769</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,231</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">588</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,732</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,297</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">664</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">270</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,551</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54,369</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,615</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,737</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,396</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,691</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,023</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,345</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">172,175</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Households</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">99,780</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,110</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,269</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,233</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,550</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,773</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">227</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">177,942</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total Risk in
  Financial Assets</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">240,245</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82,401</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">75,842</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">73,159</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66,812</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49,504</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,027</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">594,990</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loan commitments
  given</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,100</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,203</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,691</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">29,539</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,944</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,664</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,126</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">94,268</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Financial guarantees
  given</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,635</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,427</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">717</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,993</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,174</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">519</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,546</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other Commitments
  given</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,279</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,854</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,582</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,879</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,591</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,750</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,804</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">45,738</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Off-balance
  sheet exposures</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">61,014</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">27,484</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,356</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">32,134</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,527</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,588</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,450</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">156,552</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total Risks in
  Financial Instruments</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">301,259</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">109,885</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">79,198</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">105,293</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">79,339</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66,092</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,477</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">751,542</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:4.0pt;margin-left:2.85pt;margin-right:0cm;margin-top:4.0pt;text-align:left;text-indent:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(*)&#160; Equity instruments are shown net of valuation adjustment.
</font></font></p>


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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-305</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_588"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Risks by Geographical Areas. December 2016 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=27% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Europe, Excluding Spain</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">USA</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Derivatives</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,143</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,176</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,719</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,045</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">175</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,359</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,339</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,955</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Equity
  instruments (*)</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,641</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,303</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,383</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">831</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">57</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">316</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">706</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,236</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Debt securities</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49,355</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,325</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,380</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,043</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,695</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,262</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,923</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">130,983</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,237</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,253</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">40,172</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,282</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,771</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,446</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,258</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,257</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">240</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">98,426</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,781</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,465</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">257</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">112</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,331</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,459</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">869</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,275</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,959</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,181</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">352</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,142</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">15</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">347</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">379</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,376</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">443</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,397</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,000</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,343</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">90</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">961</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">418</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,653</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loans and
  advances</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">187,717</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">45,075</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">52,230</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">61,739</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">61,090</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">58,020</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,067</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">470,938</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">158</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">21</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,722</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,994</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">8,894</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">20,741</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">424</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">7,262</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,593</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">217</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,380</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">256</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,873</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,225</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,154</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,967</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,351</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,194</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,515</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,011</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,416</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,339</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">6,213</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,171</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,648</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,620</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">886</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">214</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,091</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">54,112</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,818</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,256</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,330</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,471</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">26,024</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,371</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">186,384</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Households</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">102,299</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">4,308</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,552</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,818</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">17,866</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">25,221</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">216</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">192,281</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=27% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total Risk in
  Financial Assets</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">248,856</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">93,880</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">79,712</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">84,657</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">73,016</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">66,956</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,036</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">656,112</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Loan commitments
  given</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">31,477</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,219</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,060</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">34,449</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,912</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">5,161</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">976</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">107,254</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Financial guarantees
  given</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,853</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,504</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">121</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">819</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">9,184</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,072</font></font></p>
  </td>
 <td nowrap width=10% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">714</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">18,267</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Other Commitments
  given</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,610</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,154</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,364</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,911</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,002</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,779</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,771</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">42,592</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=27% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Off-balance
  sheet exposures</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">49,940</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">36,878</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,545</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">38,179</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">14,098</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">11,012</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">3,461</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">168,113</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=27% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=27% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total Risks in
  Financial Instruments</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">298,796</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">130,757</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">94,257</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">122,836</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">87,114</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">77,968</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">12,497</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">824,225</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of the main figures in the most
significant foreign currencies in the accompanying consolidated balance sheets
is set forth in Appendix VII.
</font></font></p>


<DIV bclFooter>


<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-306</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_589"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">The breakdown of loans and advances
in the heading of Loans and receivables, impaired by geographical area as of
December 31, 2018, 2017 and 2016 is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=4 nowrap width=100% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Impaired Financial
  Assets by geographic area (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=45% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=ES style="font-size:8.0pt;">December 2016</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=45% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">10,025</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">13,318</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,812</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of Europe</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">225</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">549</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">704</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,138</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,124</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,152</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">South America</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,715</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,468</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,589</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">The United States</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">733</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">631</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">975</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=45% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,520</font></font></p>
  </td>
 <td nowrap width=18% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2,311</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">1,693</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=45% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">Rest of the world</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 11.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=ES style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=45% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">IMPAIRED RISKS</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">16,359</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">19,401</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#004481;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=ES style="font-size:8.0pt;">22,925</font></b></font></p>
  </td>
 </tr>
</table></div>



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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</font></p>

<p style="border:none;margin-bottom:14.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:14.0pt;page-break-after:auto;text-align:justify;text-indent:-36.0pt;"><a name="_Toc495478183"></a><a name="_Toc481589131"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:14.0pt;">Glossary</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:25.5pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Additional Tier 1 Capital</font></font></p>
  </td>
 <td width=77% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Includes: Preferred stock and convertible perpetual securities
  and deductions.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Adjusted acquisition cost</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The acquisition cost of the securities less accumulated
  amortizations, plus interest accrued, but not net of any other valuation
  adjustments.</font></font></p>
  </td>
 </tr>
<tr style="height:63.75pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Amortized
  cost</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The
  amortized cost of a financial asset or financial liability is the amount at
  which the financial asset or financial liability is measured at initial
  recognition minus the principal repayments, plus or minus, the cumulative
  amortization using the effective interest rate method of any difference
  between the initial amount and the maturity amount and, for financial assets,
  adjusted for any loss allowance. </font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Associates</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Companies in which the Group has a significant influence,
  without having control. Significant influence is deemed to exist when the
  Group owns 20% or more of the voting rights of an investee directly or
  indirectly.</font></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Available-for-sale financial assets</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Available-for-sale (AFS) financial assets are debt securities
  that are not classified as held-to-maturity investments or as financial
  assets designated at fair value through profit or loss (FVTPL) and equity
  instruments that are not subsidiaries, associates or jointly controlled
  entities </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">and have not been designated as at FVTPL. The AFS category
  belongs to IAS 39 standard, replaced by &#8220;Financial Assets at fair value
  through other comprehensive income&#8221; under IFRS 9.</font></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Baseline
  macroeconomic scenarios</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">IFRS 9 requires that an
  entity must evaluate a range of possible outcomes when estimating provisions
  and measuring expected credit losses, through macroeconomic scenarios. The
  baseline macroeconomic scenario presents the situation of the particular
  economic cycle.</font></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Basic earnings per share </font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Calculated by dividing &#8220;Profit attributable to Parent Company&#8221;
  corresponding to ordinary shareholders of the entity by the weighted average
  number of shares outstanding throughout the year (i.e., excluding the average
  number of treasury shares held over the year).</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Basis risk</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Risk arising from hedging exposure to one interest rate with
  exposure to a rate that reprices under slightly different conditions.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Business combination</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">A business combination is a transaction, or any other event,
  through which a single entity obtains the control of one or more businesses.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Business
  Model</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">The assessment as to how
  an asset shall be classified is made on the basis of both the business model
  for managing the financial asset and the contractual cash flow characteristic
  of the financial asset (SPPI Criterion). Financial assets are classified on
  the basis of its business model for managing the financial assets. The
  Group&#8217;s business models shall be determined at a level that reflects how
  groups of financial assets are managed together to achieve a particular
  business objective and generate cash flows.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Cash flow hedges</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Those that hedge the exposure to variability in cash flows
  attributable to a particular risk associated with a recognized asset or
  liability or a highly probable forecast transaction and could affect profit
  or loss.</font></font></p>
  </td>
 </tr>
<tr style="height:127.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:127.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Commissions </font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:127.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Income and expenses relating to commissions and similar fees are
  recognized in the consolidated income statement using criteria that vary
  according to their nature. The most significant income and expense items in
  this connection are:</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol style="font-size:10.0pt;line-height:106%;">&#183;</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Fees and commissions relating
  linked to financial assets and liabilities measured at fair value through
  profit or loss, which are recognized when collected.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol style="font-size:10.0pt;line-height:106%;">&#183;</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Fees and commissions arising from
  transactions or services that are provided over a period of time, which are
  recognized over the life of these transactions or services.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol style="font-size:10.0pt;line-height:106%;">&#183;</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Fees and commissions generated by
  a single act are accrued upon execution of that act.</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-308</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_591"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:191.25pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:191.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Consolidated statements of cash flows</font></font></p>
  </td>
 <td width=77% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:191.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The indirect method has been used for the preparation of the
  consolidated statement of cash flows. This method starts from the entity&#8217;s
  consolidated profit and adjusts its amount for the effects of transactions of
  a non-cash nature, any deferrals or accruals of past or future operating cash
  receipts or payments, and items of income or expense associated with cash
  flows classified as investment or finance. As well as cash, short-term,
  highly liquid investments subject to a low risk of changes in value, such as
  cash and deposits in central banks, are classified as cash and equivalents.<br>
  When preparing these financial statements the following definitions have been
  used:</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol style="font-size:10.0pt;line-height:106%;">&#183;</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Cash flows: Inflows and outflows
  of cash and equivalents.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol style="font-size:10.0pt;line-height:106%;">&#183;</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Operating activities: The typical
  activities of credit institutions and other activities that cannot be
  classified as investment or financing activities.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol style="font-size:10.0pt;line-height:106%;">&#183;</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Investing activities: The
  acquisition, sale or other disposal of long-term assets and other investments
  not included in cash and cash equivalents or in operating activities.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=black face=Symbol style="border:none;"><font color=black face=Symbol style="font-size:10.0pt;line-height:106%;">&#183;</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Financing activities: Activities
  that result in changes in the size and composition of the Group&#8217;s equity and
  of liabilities that do not form part of operating activities.</font></font></p>
  </td>
 </tr>
<tr style="height:114.75pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:114.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Consolidated statements of changes in equity</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:114.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The consolidated statements of changes in equity reflect all the
  movements generated in each year in each of the headings of the consolidated
  equity, including those from transactions undertaken with shareholders when
  they act as such, and those due to changes in accounting criteria or
  corrections of errors, if any.<br>
  <br>
  </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The applicable regulations establish that certain categories of
  assets and liabilities are recognized at their fair value with a charge to
  equity. These charges, known as &#8220;Valuation adjustments&#8221; (see Note 31), are
  included in the Group&#8217;s total consolidated equity net of tax effect, which
  has been recognized as deferred tax assets or liabilities, as appropriate.</font></font></p>
  </td>
 </tr>
<tr style="height:127.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:127.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Consolidated statements of recognized income and expenses</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:127.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The consolidated statements of recognized income and expenses
  reflect the income and expenses generated each year. Such statement
  distinguishes between income and expenses recognized in the consolidated
  income statements and &#8220;Other recognized income (expenses)&#8221; recognized
  directly in consolidated equity. &#8220;Other recognized income (expenses)&#8221; include
  the changes that have taken place in the year in the &#8220;Valuation adjustments&#8221;
  broken down by item.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The sum of the changes to the heading &#8220;Other comprehensive
  income &#8221; of the consolidated total equity and the consolidated profit for the
  year comprise the &#8220;Total recognized income/expenses of the year&#8221;.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Consolidation method</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Method used for the consolidation of the accounts of the Group&#8217;s
  subsidiaries. The assets and liabilities of the Group entities are
  incorporated line-by-line on the consolidate balance sheets, after
  conciliation and the elimination in full of intragroup balances, including
  amounts payable and receivable.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Group entity income statement income and expense headings are
  similarly combined line by line into the consolidated income statement, having
  made the following consolidation eliminations:</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">income and expenses in respect of
  intragroup transactions are eliminated in full.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">b)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">profits and losses resulting from
  intragroup transactions are similarly eliminated.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The carrying amount of the parent's investment and the parent's
  share of equity in each subsidiary are eliminated. </font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Contingencies</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Current obligations of the entity arising as a result of past
  events whose existence depends on the occurrence or non-occurrence of one or
  more future events independent of the will of the entity.</font></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Contingent&#160; </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">commitments</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Possible obligations of the entity that arise from past events
  and whose existence depends on the occurrence or non-occurrence of one or
  more future events independent of the entity&#8217;s will and that could lead to
  the recognition of financial assets.</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-309</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:191.25pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:191.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Control</font></font></p>
  </td>
 <td width=77% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:191.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">An investor controls an investee when it is exposed, or has
  rights, to variable returns from its involvement with the investee and has
  the ability to affect those returns through its power over the investee. An
  investor controls an investee if and only if the investor has all the
  following:</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Power; An investor has power over
  an investee when the investor has existing rights that give it the current
  ability to direct the relevant activities, i.e. the activities that
  significantly affect the investee&#8217;s returns.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">b)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Returns; An investor is exposed,
  or has rights, to variable returns from its involvement with the investee
  when the investor&#8217;s returns from its involvement have the potential to vary
  as a result of the investee&#8217;s performance. The investor&#8217;s returns can be only
  positive, only negative or both positive and negative.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">c)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Link between power and returns;
  An investor controls an investee if the investor not only has power over the
  investee and exposure or rights to variable returns from its involvement with
  the investee, but also has the ability to use its power to affect the
  investor&#8217;s returns from its involvement with the investee.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Correlation risk</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Correlation risk is related to derivatives whose final value
  depends on the performance of more than one underlying asset (primarily,
  stock baskets) and indicates the existing variability in the correlations
  between each pair of assets.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Credit Valuation Adjustment (CVA)</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">An adjustment to the valuation of OTC derivative contracts to
  reflect the creditworthiness of OTC derivative counterparties.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Current service cost</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Current service cost is the increase in the present value of a
  defined benefit obligation resulting from employee service in the current
  period.</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Current tax assets</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Taxes recoverable over the next twelve months.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Current tax liabilities</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Corporate income tax payable on taxable profit for the year and
  other taxes payable in the next twelve months.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Debit Valuation Adjustment (DVA)</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">An adjustment made by an entity to the valuation of OTC
  derivative liabilities to reflect within fair value the entity&#8217;s own credit
  risk.</font></font></p>
  </td>
 </tr>
<tr style="height:63.75pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Debt certificates</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Obligations and other interest-bearing securities that create or
  evidence a debt on the part of their issuer, including debt securities issued
  for trading among an open group of investors, that accrue interest, implied
  or explicit, whose rate, fixed or benchmarked to other rates, is established
  contractually, and take the form of securities or book-entries, irrespective
  of the issuer.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Default</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">An asset will be
  considered as defaulted whenever it is more than 90 days past due.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Deferred tax assets</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Taxes recoverable in future years, including loss carry forwards
  or tax credits for deductions and tax rebates pending application.</font></font></p>
  </td>
 </tr>
<tr style="height:26.9pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:26.9pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Deferred tax liabilities</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:26.9pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Income taxes payable in subsequent years.</font></font></p>
  </td>
 </tr>
<tr style="height:76.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:76.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Defined benefit plans</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:76.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Post-employment obligation under which the entity, directly or
  indirectly via the plan, retains the contractual or implicit obligation to
  pay remuneration directly to employees when required or to pay additional
  amounts if the insurer, or other entity required to pay, does not cover all
  the benefits relating to the services rendered by the employees when
  insurance policies do not cover all of the corresponding post-employees
  benefits.</font></font></p>
  </td>
 </tr>
<tr style="height:63.75pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Defined contribution plans</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Defined contribution plans are retirement benefit plans under
  which amounts to be paid as retirement benefits are determined by
  contributions to a fund together with investment earnings thereon. The
  employer's obligations in respect of its employees current and prior years'
  employment service are discharged by contributions to the fund.</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-310</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_593"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:25.5pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Deposits from central banks </font></font></p>
  </td>
 <td width=77% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Deposits of all classes, including loans and money market
  operations, received from the Bank of Spain and other central banks.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Deposits from credit institutions</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Deposits of all classes, including loans and money market
  operations received, from credit entities.</font></font></p>
  </td>
 </tr>
<tr style="height:63.75pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Deposits from customers</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Redeemable cash balances received by the entity, with the exception
  of debt certificates, money market operations through counterparties and
  subordinated liabilities, which are not received from either central banks or
  credit entities. This category also includes cash deposits and consignments
  received that can be readily withdrawn.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Derivatives</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The fair value in favor (assets) or again (liabilities) of the
  entity of derivatives not designated as accounting hedges.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Derivatives - Hedging derivatives</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Derivatives designated as hedging instruments in an accounting
  hedge. The fair value or future cash flows of those derivatives is expected
  to offset the differences in the fair value or cash flows of the items
  hedged.</font></font></p>
  </td>
 </tr>
<tr style="height:76.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:76.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Diluted earnings per share </font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:76.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Calculated by using a method similar to that used to calculate
  basic earnings per share; the weighted average number of shares outstanding,
  and the profit attributable to the parent company corresponding to ordinary
  shareholders of the entity, if appropriate, is adjusted to take into account
  the potential dilutive effect of certain financial instruments that could
  generate the issue of new Bank shares (share option commitments with
  employees, warrants on parent company shares, convertible debt instruments,
  etc.).</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Dividends and retributions</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Dividend income collected announced during the year,
  corresponding to profits generated by investees after the acquisition of the
  stake.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Early retirements</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Employees that no longer render their services to the entity but
  which, without being legally retired, remain entitled to make economic claims
  on the entity until they formally retire.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Economic capital</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Methods or practices that allow banks to consistently assess
  risk and attribute capital to cover the economic effects of risk-taking
  activities.</font></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Effective interest rate </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">(EIR)</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Discount rate that exactly equals the value of a financial
  instrument with the cash flows estimated over the expected life of the
  instrument based on its contractual period as well as its anticipated
  amortization, but without taking the future losses of credit risk into consideration.</font></font></p>
  </td>
 </tr>
<tr style="height:76.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:76.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Employee expenses</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:76.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">All compensation accrued during the year in respect of personnel
  on the payroll, under permanent or temporary contracts, irrespective of their
  jobs or functions, irrespective of the concept, including the current costs
  of servicing pension plans, own share based compensation schemes and
  capitalized personnel expenses. Amounts reimbursed by the state Social
  Security or other welfare entities in respect of employee illness are
  deducted from personnel expenses.</font></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Equity</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The residual interest in an entity's assets after deducting its
  liabilities. It includes owner or venturer contributions to the entity, at
  incorporation and subsequently, unless they meet the definition of
  liabilities, and accumulated net profits or losses, fair value adjustments
  affecting equity and, if warranted, non-controlling interests.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Equity instruments</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">An equity instrument that evidences a residual interest in the
  assets of an entity, that is after deducting all of its liabilities.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Equity instruments issued other than capital</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Includes equity instruments that are financial instruments other
  than &#8220;Capital&#8221; and &#8220;Equity component of compound financial instruments&#8221;. </font></font></p>
  </td>
 </tr>
<tr style="height:63.75pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Equity Method</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Is a method of accounting whereby the investment is initially
  recognized at cost and adjusted thereafter for the post-acquisition change in
  the investor&#8217;s share of the investee&#8217;s net assets. The investor&#8217;s profit or
  loss includes its share of the investee&#8217;s profit or loss and the investor&#8217;s
  other comprehensive income includes its share of the investee&#8217;s other
  comprehensive income.</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:63.75pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Exchange/translation differences</font></font></p>
  </td>
 <td width=77% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Exchange differences (P&amp;L): Includes the earnings obtained
  in currency trading and the differences arising on translating monetary items
  denominated in foreign currency to the functional currency. Exchange
  differences (valuation adjustments): those recorded due to the translation of
  the financial statements in foreign currency to the functional currency of
  the Group and others recorded against equity.</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Expected
  Credit Loss (ECL)</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">Expected credit losses are
  a probability-weighted estimate of credit losses over the expected life of
  the financial instrument. Hence, credit losses are the present value of
  expected cash shortfalls. The measurement and estimate of these expected
  credit losses should reflect:</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">1. An unbiased and
  probability-weighted amount.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">2. The time value of money
  by discounting this amount to the reporting date using a rate that
  approximates the EIR of the asset, and</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">3. Reasonable and
  supportable information that is available without undue cost or effort.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">The expected credit losses
  must be measured as the difference between the asset&#8217;s gross carrying amount
  and the present value of estimated future cash flows discounted at the
  financial asset&#8217;s original effective interest rate or an approximation
  thereof (forward looking).</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Exposure at default</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">EAD is the amount of risk exposure at the date of default by the
  counterparty.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Fair value</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The price that would be received to sell an asset or paid to
  transfer a liability in an orderly transaction between market participants at
  the measurement date.</font></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Fair value hedges</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Derivatives that hedge the exposure to changes in the fair value
  of assets and liabilities or firm commitments that have not be recognized, or
  of an identified portion of said assets, liabilities or firm commitments,
  attributable to a specific risk, provided it could affect the income
  statement.</font></font></p>
  </td>
 </tr>
<tr style="height:63.75pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial
  Assets at Amortized Cost</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial
  assets that do not meet the definition of financial assets designated at fair
  value through profit or loss and arise from the financial entities' ordinary
  activities to capture funds, regardless of their instrumentation or maturity.</font></font></p>
  </td>
 </tr>
<tr style="height:63.75pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial
  Assets at fair value through other comprehensive income</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial
  instruments with determined or determinable cash flows and in which the
  entire payment made by the entity will be recovered, except for reasons
  attributable to the solvency of the debtor. This category includes both the
  investments from the typical lending activity as well as debts contracted by
  the purchasers of goods, or users of services, that form part of the entity&#8217;s
  business. It also includes all finance lease arrangements in which the
  consolidated subsidiaries act as lessors.</font></font></p>
  </td>
 </tr>
<tr style="height:63.75pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial
  guarantees</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Contracts
  that require the issuer to make specified payments to reimburse the holder
  for a loss it incurs when a specified debtor fails to make payment when due
  in accordance with the original or modified terms of a debt instrument,
  irrespective of its instrumentation. These guarantees may take the form of
  deposits, technical or financial guarantees, insurance contracts or credit
  derivatives.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial
  guarantees given</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Transactions
  through which the entity guarantees commitments assumed by third parties in
  respect of financial guarantees granted or other types of contracts.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial
  instrument</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">A
  financial instrument is any contract that gives rise to a financial asset of
  one entity and to a financial liability or equity instrument of another
  entity.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial
  liabilities at amortized cost</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial
  liabilities that do not meet the definition of financial liabilities
  designated at fair value through profit or loss and arise from the financial
  entities' ordinary activities to capture funds, regardless of their
  instrumentation or maturity.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Goodwill</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Goodwill
  acquired in a business combination represents a payment made by the acquirer
  in anticipation of future economic benefits from assets that are not able to
  be individually identified and separately recognized.</font></font></p>
  </td>
 </tr>
</table></div>




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<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-312</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font></p>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:38.25pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Gross
  income</font></font></p>
  </td>
 <td width=77% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Sum of net
  interest income, dividend income, share of profit or loss entities accounted
  for using the equity method, net fee and commission income, net gains and
  losses on financial assets and liabilities, net exchange differences and net
  other operating income.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Hedges of
  net investments in foreign operations</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Foreign
  currency hedge of a net investment in a foreign operation.</font></font></p>
  </td>
 </tr>
<tr style="height:76.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:76.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Held for
  trading (assets and liabilities)</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:76.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial
  assets and liabilities acquired or incurred primarily for the purpose of
  profiting from variations in their prices in the short term.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">This
  category also includes financial derivatives not qualifying for hedge
  accounting, and in the case of borrowed securities, financial liabilities
  originated by the firm sale of financial assets acquired under repurchase
  agreements or received on loan (&#8220;short positions&#8221;).</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Held-to-maturity
  investments</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Held-to-maturity
  investments are financial assets traded on an active market, with fixed
  maturity and fixed or determinable payments and cash flows that an entity has
  the positive intention and financial ability to hold to maturity. The
  Held-to-maturity category belongs to IAS 39 standard, replaced by IFRS 9.</font></font></p>
  </td>
 </tr>
<tr style="height:89.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:89.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Impaired
  financial assets</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:89.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">An asset is
  credit-impaired according to IFRS 9 if one or more events have occurred and
  they have a detrimental impact on the estimated future cash flows of the
  asset. </font><i><font face=Arial,sans-serif style="font-size:10.0pt;">Evidence that a financial asset is credit-impaired includes
  observable data about the following events:</font></i></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a)</font></i><i><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></i></font><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">significant financial difficulty
  of the issuer or the borrower,</font></i></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">b)</font></i><i><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></i></font><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a breach of contract (e.g. a
  default or past due event),</font></i></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">c)</font></i><i><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></i></font><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a lender having granted a
  concession to the borrower &#8211; for economic or contractual reasons relating to
  the borrower&#8217;s financial difficulty &#8211; that the lender would not otherwise
  consider,</font></i></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">d)</font></i><i><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></i></font><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">it becoming probable that the
  borrower will enter bankruptcy or other financial reorganization,</font></i></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">e)</font></i><i><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></i></font><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">the disappearance of an active
  market for that financial asset because of financial difficulties, or</font></i></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">f)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">the purchase or origination of a financial
  asset at a deep discount that reflects the incurred credit losses.</font></i></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Income from equity instruments</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Dividends and income on equity instruments collected or
  announced during the year corresponding to profits generated by investees
  after the ownership interest is acquired. Income is recognized gross, i.e.,
  without deducting any withholdings made, if any.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Insurance contracts linked to pensions</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The fair value of insurance contracts written to cover pension
  commitments.</font></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Inventories</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Assets, other than financial instruments, under production,
  construction or development, held for sale during the normal course of
  business, or to be consumed in the production process or during the rendering
  of services. Inventories include land and other properties held for sale at
  the real estate development business.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Investment properties</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Investment property is property (land or a building&#8212;or part of a
  building&#8212;or both) held (by the owner or by the lessee under a finance lease)
  to earn rentals or for capital appreciation or both, rather than for own use
  or sale in the ordinary course of business.</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Joint arrangement</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">An arrangement of which two or more parties have joint control.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Joint control</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The contractually agreed sharing of control of an arrangement,
  which exists only when decisions about the relevant activities require the
  unanimous consent of the parties sharing control.</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:153.0pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:153.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Joint operation</font></font></p>
  </td>
 <td width=77% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:153.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">A joint arrangement whereby the parties that have joint control
  of the arrangement have rights to the assets of the arrangement and
  obligations for the liabilities. A joint venturer shall recognize the
  following for its participation in a joint operation:</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:20.1pt;margin-right:0cm;margin-top:0cm;text-indent:-10.9pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">its assets, including any share
  of the assets of joint ownership;</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:20.1pt;margin-right:0cm;margin-top:0cm;text-indent:-10.9pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">b)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">its liabilities, including any
  share of the liabilities incurred jointly;</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:20.1pt;margin-right:0cm;margin-top:0cm;text-indent:-10.9pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">c)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">income from the sale of its share
  of production from the joint venture;</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:20.1pt;margin-right:0cm;margin-top:0cm;text-indent:-10.9pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">d)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">its share of the proceeds from
  the sale of production from the joint venturer; and</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:20.1pt;margin-right:0cm;margin-top:0cm;text-indent:-10.9pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">e)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">its expenses, including any share
  of the joint expenses.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">A joint venturer shall account for the assets, liabilities,
  income and expenses related to its participation in a joint operation in
  accordance with IFRS applicable to the assets, liabilities, income and
  expenses specific question.</font></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Joint venture</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">A joint arrangement whereby the parties that have joint control
  of the arrangement have rights to the net assets of the arrangement. A joint
  venturer shall recognize its interest in a joint venture as an investment and
  shall account for that investment using the equity method in accordance with
  IAS 28 Investments in Associates and Joint Ventures.</font></font></p>
  </td>
 </tr>
<tr style="height:102.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:102.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Leases</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:102.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">A lease is an agreement whereby the lessor conveys to the lessee
  in return for a payment or series of payments the right to use an asset for
  an agreed period of time, a stream of cash flows that is essentially
  equivalent to the combination of principal and interest payments under a loan
  agreement.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">A lease is classified as a
  finance lease when it substantially transfers all the risks and rewards
  incidental to ownership of the asset forming the subject-matter of the
  contract.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">b)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">A lease will be classified as
  operating lease when it is not a financial lease.</font></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Liabilities included in disposal groups classified as held for
  sale</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The balance of liabilities directly associated with assets
  classified as non-current assets held for sale, including those recognized
  under liabilities in the entity's balance sheet at the balance sheet date
  corresponding to discontinued operations.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Liabilities under insurance contracts</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The technical reserves of direct insurance and inward
  reinsurance recorded by the consolidated entities to cover claims arising
  from insurance contracts in force at period-end. </font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Loans and advances to customers</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Loans and receivables, irrespective of their type, granted to
  third parties that are not credit entities.</font></font></p>
  </td>
 </tr>
<tr style="height:102.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:102.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Loans and receivables</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:102.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial instruments with determined or determinable cash flows
  and in which the entire payment made by the entity will be recovered, except
  for reasons attributable to the solvency of the debtor. This category
  includes both the investments from the typical lending activity (amounts of
  cash available and pending maturity by customers as a loan or deposits lent
  to other entities, and unlisted debt certificates), as well as debts
  contracted by the purchasers of goods, or users of services, that form </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">part of the
  entity&#8217;s business. It also includes all finance lease arrangements in which
  the consolidated subsidiaries act as lessors. The Loans and receivables
  category belongs to IAS 39 standard, replaced by &#8220;Financial Assets at
  Amortized Cost&#8221; under IFRS 9.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Loss given default (LGD)</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">It is the estimate of the loss arising in the event of default.
  It depends mainly on the characteristics of the counterparty, and the
  valuation of the guarantees or collateral associated with the asset.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Mortgage-covered bonds</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial asset or security created from mortgage loans and
  backed by the guarantee of the mortgage loan portfolio of the entity.</font></font></p>
  </td>
 </tr>
<tr style="height:25.7pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.7pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Net operating income</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.7pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:10.0pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Gross income less administrative costs and amortization.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Non performing financial guarantees given</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The balance of non performing risks, whether for reasons of
  default by customers or for other reasons, for financial guarantees given.
  This figure is shown gross: in other words, it is not adjusted for value
  corrections (loan loss reserves) made.</font></font></p>
  </td>
 </tr>
</table></div>




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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_597"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:38.25pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Non Performing Loans (NPL)</font></font></p>
  </td>
 <td width=77% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The balance of non performing risks, whether for reasons of
  default by customers or for other reasons, for exposures on balance loans to
  customers. This figure is shown gross: in other words, it is not adjusted for
  value corrections (loan loss reserves) made.</font></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Non-controlling interests</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The net amount of the profit or loss and net assets of a
  subsidiary attributable to associates outside the group (that is, the amount
  that is not owned, directly or indirectly, by the parent), including that
  amount in the corresponding part of the consolidated earnings for the period.</font></font></p>
  </td>
 </tr>
<tr style="height:76.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:76.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Non-current assets and disposal groups held for sale </font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:76.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">A non-current asset or disposal group, whose carrying amount is
  expected to be realized through a sale transaction, rather than through
  continuing use, and which meets the following requirements:</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:27.2pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">it is immediately available for
  sale in its present condition at the balance sheet date, i.e. only normal
  procedures are required for the sale of the asset.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:27.2pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">b)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">the sale is considered highly
  probable.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Non-monetary assets</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Assets and liabilities that do not provide any right to receive
  or deliver a determined or determinable amount of monetary units, such as
  tangible and intangible assets, goodwill and ordinary shares subordinate to
  all other classes of capital instruments.</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Option risk</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Risks arising from options, including embedded options.</font></font></p>
  </td>
 </tr>
<tr style="height:280.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:280.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Other financial assets/liabilities at fair value through profit
  or loss</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:280.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Instruments designated by the entity from the inception at fair
  value with changes in profit or loss. </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">An entity may only designate a financial instrument at fair
  value through profit or loss, if doing so more relevant information is
  obtained, because:</font></font></p>
  <p style="border:none;margin-bottom:6.0pt;margin-left:34.0pt;margin-right:0cm;margin-top:0cm;text-indent:-16.15pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">It eliminates or significantly
  reduces a measurement or recognition inconsistency (sometimes called
  &quot;accounting mismatch&quot;) that would otherwise arise from measuring
  assets or liabilities or recognizing the gains and losses on them on
  different bases. It might be acceptable to designate only some of a number of
  similar financial assets or financial liabilities if doing so a significant
  reduction (and possibly a greater reduction than other allowable
  designations) in the inconsistency is achieved.</font></font></p>
  <p style="border:none;margin-bottom:6.0pt;margin-left:34.0pt;margin-right:0cm;margin-top:0cm;text-indent:-16.15pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">b)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">The performance of a group of
  financial assets or financial liabilities is managed and evaluated on a fair
  value basis, in accordance with a documented risk management or investment
  strategy, and information about the group is provided internally on that
  basis to the entity&#180;s key management personnel.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">These are financial assets managed jointly with &#8220;Liabilities
  under insurance and reinsurance contracts&#8221; measured at fair value, in
  combination with derivatives written with a view to significantly mitigating
  exposure to changes in these contracts' fair value, or in combination with
  financial liabilities and derivatives designed to significantly reduce global
  exposure to interest rate risk.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">These headings include customer loans and deposits effected via
  so-called unit-linked life insurance contracts, in which the policyholder
  assumes the investment risk.</font></font></p>
  </td>
 </tr>
<tr style="height:114.75pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:114.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Other Reserves</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:114.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">This heading is broken down as follows:</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:5.9pt;margin-right:0cm;margin-top:10.0pt;text-indent:-5.9pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp; </font><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">i)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp; &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Reserves or accumulated losses of investments in
  subsidiaries, joint ventures and associate: include the accumulated amount of
  income and expenses generated by the aforementioned investments through
  profit or loss in past years.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:5.9pt;margin-right:0cm;margin-top:10.0pt;text-indent:-5.9pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp; </font><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">ii)</font><font color=black face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp; &nbsp;</font></font><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Other: includes reserves different from those
  separately disclosed in other items and may include legal reserve and
  statutory reserve.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Other retributions to employees long term</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Includes the amount of compensation plans to employees long
  term.</font></font></p>
  </td>
 </tr>
</table></div>




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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_598"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:15.0pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Own/treasury shares</font></font></p>
  </td>
 <td width=77% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The amount of own equity instruments held by the entity.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Past service cost</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">It is the change in the present value of the defined benefit
  obligation for employee service in prior periods, resulting in the current
  period from the introduction of, or changes to, post-employment benefits or
  other long-term employee benefits.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Post-employment benefits</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Retirement benefit plans are arrangements whereby an enterprise
  provides benefits for its employees on or after termination of service.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Probability of default (PD)</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">It is the probability of the counterparty failing to meet its
  principal and/or interest payment obligations. The PD is associated with the
  rating/scoring of each counterparty/transaction. </font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Property, plant and equipment/tangible assets</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Buildings, land, fixtures, vehicles, computer equipment and
  other facilities owned by the entity or acquired under finance leases.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Provisions</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Provisions include amounts recognized to cover the Group&#8217;s
  current obligations arising as a result of past events, certain in terms of
  nature but uncertain in terms of amount and/or cancellation date.</font></font></p>
  </td>
 </tr>
<tr style="height:63.75pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Provisions for contingent liabilities and commitments</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:63.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Provisions recorded to cover exposures arising as a result of
  transactions through which the entity guarantees commitments assumed by third
  parties in respect of financial guarantees granted or other types of
  contracts, and provisions for contingent commitments, i.e., irrevocable
  commitments which may arise upon recognition of financial assets.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Provisions for pensions and similar obligation</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Constitutes all provisions recognized to cover retirement
  benefits, including commitments assumed vis-&#224;-vis beneficiaries of early
  retirement and analogous schemes.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Provisions or (-) reversal of provisions</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Provisions recognized during the year, net of recoveries on
  amounts provisioned in prior years, with the exception of provisions for
  pensions and contributions to pension funds which constitute current or
  interest expense.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Refinanced Operation</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">An operation which is totally or partially brought up to date
  with its payments as a result of a refinancing operation made by the entity
  itself or by another company in its group.</font></font></p>
  </td>
 </tr>
<tr style="height:114.75pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:114.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Refinancing Operation</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:114.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">An operation which, irrespective of the holder or guarantees
  involved, is granted or used for financial or legal reasons related to
  current or foreseeable financial difficulties that the holder(s) may have in
  settling one or more operations granted by the entity itself or by other
  companies in its group to the holder(s) or to another company or companies of
  its group, or through which such operations are totally or partially brought
  up to date with their payments, in order to enable the holders of the settled
  or refinanced operations to pay off their loans (principal and interest)
  because they are unable, or are expected to be unable, to meet the conditions
  in a timely and appropriate manner.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Renegotiated Operation</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">An operation whose financial conditions are modified when the
  borrower is not experiencing financial difficulties, and is not expected to
  experience them in the future, i.e. the conditions are modified for reasons
  other than restructuring.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Repricing risk</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Risks related to the timing mismatch in the maturity and
  repricing of assets and liabilities and off-balance sheet short and long-term
  positions. </font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:165.75pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:165.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Restructured Operation</font></font></p>
  </td>
 <td width=77% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:165.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">An operation whose financial conditions are modified for
  economic or legal reasons related to the holder's (or holders') current or
  foreseeable financial difficulties, in order to enable payment of the loan
  (principal and interest), because the holder is unable, or is expected to be
  unable, to meet those conditions in a timely and appropriate manner, even if
  such modification is provided for in the contract. In any event, the
  following are considered restructured operations: operations in which a
  haircut is made or assets are received in order to reduce the loan, or in
  which their conditions are modified in order to extend their maturity, change
  the amortization table in order to reduce the amount of the installments in
  the short term or reduce their frequency, or to establish or extend the grace
  period for the principal, the interest or both; except when it can be proved
  that the conditions are modified for reasons other than the financial
  difficulties of the holders and, are similar to those applied on the market
  on the modification date for operations granted to customers with a similar
  risk profile.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Retained earnings</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Accumulated net profits or losses recognized in the income
  statement in prior years and retained in equity upon distribution.</font></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Securitization fund</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:38.25pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">A fund that is configured as a separate equity and administered
  by a management company. An entity that would like funding sells certain
  assets to the securitization fund, which, in turn, issues securities backed
  by said assets.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Share premium</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The amount paid in by owners for issued equity at a premium to
  the shares' nominal value.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Shareholders' funds</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:34.25pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Contributions by stockholders, accumulated earnings recognized
  in the income statement and the equity components of compound financial
  instruments.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Short positions</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial liabilities arising as a result of the final sale of
  financial assets acquired under repurchase agreements or received on loan.</font></font></p>
  </td>
 </tr>
<tr style="height:229.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:229.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Significant
  increase in credit risk</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:229.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">In order
  to determine whether there has been a significant increase in credit risk for
  lifetime expected losses recognition, the Group has develop a two-prong
  approach:</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a)</font></i><i><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></i></font><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Quantitative criterion</font></i></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">: based on comparing the current expected probability of default
  over the life of the transaction with the original adjusted expected
  probability of default. The thresholds used for considering a significant
  increase in risk take into account special cases according to geographic
  areas and portfolios.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;text-indent:-17.85pt;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">b)</font></i><i><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></i></font><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">Qualitative criterion:</font></i></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;"> most indicators
  for detecting significant risk increase are included in the Group's systems
  through rating/scoring systems or macroeconomic scenarios, so quantitative
  analysis covers the majority of circumstances. The Group will use additional
  qualitative criteria when it considers it necessary to include circumstances
  that are not reflected in the rating/score systems or macroeconomic scenarios
  used.</font></font></p>
  </td>
 </tr>
<tr style="height:229.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:229.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Significant
  influence</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:229.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Is the
  power to participate in the financial and operating policy decisions of the
  investee but is not control or joint control of those policies. If an entity
  holds, directly or indirectly (i.e. through subsidiaries), 20 per cent or
  more of the voting power of the investee, it is presumed that the entity has
  significant influence, unless it can be clearly demonstrated that this is not
  the case. Conversely, if the entity holds, directly or indirectly (i.e.
  through subsidiaries), less than 20 per cent of the voting power of the
  investee, it is presumed that the entity does not have significant influence,
  unless such influence can be clearly demonstrated. A substantial or majority
  ownership by another investor does not necessarily preclude an entity from
  having significant influence.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">The
  existence of significant influence by an entity is usually evidenced in one
  or more of the following ways: </font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">representation on the board of directors or equivalent governing
  body of the investee;</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">b)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">participation in policy-making processes, including
  participation in decisions about dividends or other distributions;</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">c)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">material transactions between the entity and its investee;</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">d)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">interchange of managerial personnel; or </font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">e)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">provision of essential technical information.</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:25.5pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Solely Payments of
  Principle and Interest (SPPI)</font></font></p>
  </td>
 <td width=77% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">The assessment as to how
  an asset shall be classified is made on the basis of both the business model
  for managing the financial asset and the contractual cash flow characteristic
  of the financial asset (SPPI Criterion). To determine whether a financial
  asset shall be classified as measured at amortized cost or FVOCI, a</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">Group assesses (apart from
  the business model) whether the cash flows from the financial asset
  represent, on specified dates, solely payments of principal and interest on
  the principal amount outstanding (SPPI).</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Stages</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">IFRS 9 classifies
  financial instruments into three categories, which depend on the evolution of
  their credit risk from the moment of initial recognition. The first category
  includes the transactions when they are initially recognized - </font><i><font face=Arial,sans-serif style="font-size:10.0pt;">without
  significant increase in credit risk</font></i><font face=Arial,sans-serif style="font-size:10.0pt;"> (Stage 1); the second comprises the
  operations for which a significant increase in credit risk has been
  identified since its initial recognition - </font><i><font face=Arial,sans-serif style="font-size:10.0pt;">significant increase in credit
  risk</font></i><font face=Arial,sans-serif style="font-size:10.0pt;"> (Stage 2) and the third one, the impaired operations </font><i><font face=Arial,sans-serif style="font-size:10.0pt;">Impaired&nbsp;</font></i><font face=Arial,sans-serif style="font-size:10.0pt;">
  (Stage 3).</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">The transfer logic is
  defined in a symmetrical way, whenever the condition that</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">triggered a transfer to
  Stage 2 is no longer met, the exposure will be transferred to</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;">Stage 1. In the case of
  forbearances transferred to stage 2, as long as the loan is flagged as
  forbearance it will keep its status as Stage 2. However, when the loan is not
  flagged as forbearance it will be transferred back to Stage 1.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Structured
  credit products</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Special
  financial instrument backed by other instruments building a subordination
  structure.</font></font></p>
  </td>
 </tr>
<tr style="height:178.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:178.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Structured
  Entities</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:178.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">A
  structured entity is an entity that has been designed so that voting or
  similar rights are not the dominant factor in deciding who controls the
  entity, such as when any voting rights relate to administrative tasks only
  and the relevant activities are directed by means of contractual
  arrangements. A structured entity often has some or all of the following
  features or attributes:</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">restricted activities.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">b)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a narrow and well-defined objective, such as to effect a
  tax-efficient lease, carry out research and development activities, provide a
  source of capital or funding to an entity or provide investment opportunities
  for investors y passing on risks and rewards associated with the assets of
  the structured entity to investors.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">c)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">insufficient equity to permit the structured entity to finance
  its activities without subordinated financial support.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">d)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">financing in the form of multiple contractually linked
  instruments to investors that create concentrations of credit or other risks
  (tranches).</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Subordinated
  liabilities</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financing
  received, regardless of its instrumentation, which ranks after the common
  creditors in the event of a liquidation.</font></font></p>
  </td>
 </tr>
<tr style="height:204.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:204.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Subsidiaries</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:204.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Companies
  over which the Group exercises control. An entity is presumed to have control
  over another when it possesses the right to oversee its financial and
  operational policies, through a legal, statutory or contractual procedure, in
  order to obtain benefits from its economic activities. Control is presumed to
  exist when the parent owns, directly or indirectly through subsidiaries, more
  than one half of an entity's voting power, unless, exceptionally, it can be
  clearly demonstrated that ownership of more than one half of an entity's
  voting rights does not constitute control of it. Control also exists when the
  parent owns half or less of the voting power of an entity when there is:</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">an agreement that gives the parent the right to control the
  votes of other shareholders;</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">b)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">power to govern the financial and operating policies of the
  entity under a statute or an agreement; power to appoint or remove the
  majority of the members of the board of directors or equivalent governing
  body and control of the entity is by that board or body;</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-indent:18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">c)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">power to cast the majority of votes at meetings of the board of
  directors or equivalent governing body and control of the entity is by that
  board or body.</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Tax
  liabilities</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">All tax
  related liabilities except for provisions for taxes.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Territorial
  bonds</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Financial
  assets or fixed asset security issued with the guarantee of portfolio loans
  of the public sector of the issuing entity.</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:.7pt;">&nbsp;</font></font></p>


</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;margin-left:2.75pt;width:100%;">
 <tr style="height:25.5pt;">
  <td width=23% style="border:solid windowtext 1.0pt;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Tier 1
  Capital</font></font></p>
  </td>
 <td width=77% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Mainly
  includes: Common stock, parent company reserves, reserves in consolidated
  companies, non-controlling interests, deductions and others and attributed
  net income.</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Tier 2
  Capital</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:25.5pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Mainly
  includes: Subordinated, preferred shares and non- controlling interest.</font></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Unit-link</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:51.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">This is
  life insurance in which the policyholder assumes the risk. In these policies,
  the funds for the technical insurance provisions are invested in the name of
  and on behalf of the policyholder in shares of Collective Investment
  Institutions and other financial assets chosen by the policyholder, who bears
  the investment risk.</font></font></p>
  </td>
 </tr>
<tr style="height:204.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:204.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Value at
  Risk (VaR)</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:204.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Value at
  Risk (VaR) is the basic variable for measuring and controlling the Group&#8217;s
  market risk. This risk metric estimates the maximum loss that may occur in a
  portfolio&#8217;s market positions for a particular time horizon and given
  confidence level</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">VaR
  figures are estimated following two methodologies:</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-indent:18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">a)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">VaR without smoothing, which awards equal
  weight to the daily information for the immediately preceding last two years.
  This is currently the official methodology for measuring market risks
  vis-&#224;-vis limits compliance of the risk.</font></font></p>
  <p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;text-indent:18.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">b)</font><font face="Times New Roman" style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp;
  &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:106%;">VaR with smoothing, which weighs more recent
  market information more heavily. This is a metric which supplements the
  previous one.</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">&nbsp;</font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">VaR with
  smoothing adapts itself more swiftly to the changes in financial market
  conditions, whereas VaR without smoothing is, in general, a more stable
  metric that will tend to exceed VaR with smoothing when the markets show less
  volatile trends, while it will tend to be lower when they present upturns in
  uncertainty.</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=23% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Yield
  curve risk</font></font></p>
  </td>
 <td width=77% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;height:15.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif style="font-size:10.0pt;line-height:115%;">Risks
  arising from changes in the slope and the shape of the yield curve.</font></font></p>
  </td>
 </tr>
</table></div>



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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>2
<FILENAME>d20f2018exhibits12.htm
<DESCRIPTION>EXHIBIT 12.1
<TEXT>

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<meta content="text/html; charset=utf-8" />


<title>CERTIFICATIONS</title>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 216.0pt right 432.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


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<p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:right;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exhibit
12.1</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:center;"><b><u><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">CERTIFICATION</font></u></b></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">I, Carlos Torres Vila, certify that: </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160;&#160;&#160; I have reviewed
this annual report on Form 20-F of Banco Bilbao Vizcaya Argentaria, S.A.; </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.&#160;&#160;&#160; Based on my
knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report; </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">3.&#160;&#160;&#160; Based on my
knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the company as of, and for,
the periods presented in this report; </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">4.&#160;&#160;&#160; The company&#8217;s
other certifying officers and I are responsible for establishing and
maintaining disclosure controls and procedures (as defined in Exchange Act
Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting
(as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and
have: </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(a)&#160;&#160;&#160; Designed such
disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material
information relating to the company, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the
period in which this report is being prepared; </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(b)&#160;&#160;&#160; Designed such
internal control over financial reporting, or caused such internal control over
financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally
accepted accounting principles; </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(c)&#160;&#160;&#160; Evaluated the
effectiveness of the company&#8217;s disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure
controls and procedures, as of the end of the period covered by this report
based on such evaluation; and </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(d)&#160;&#160;&#160; Disclosed in
this report any change in the company&#8217;s internal control over financial
reporting that occurred during the period covered by the annual report that has
materially affected, or is reasonably likely to materially affect, the
company&#8217;s internal control over financial reporting; and </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">5.&#160;&#160;&#160; The company&#8217;s
other certifying officers and I have disclosed, based on our most recent
evaluation of internal control over financial reporting, to the company&#8217;s
auditors and the audit committee of the company&#8217;s board of directors (or
persons performing the equivalent functions): </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(a)&#160;&#160;&#160; All significant
deficiencies and material weaknesses in the design or operation of internal
control over financial reporting which are reasonably likely to adversely
affect the company&#8217;s ability to record, process, summarize and report financial
information; and </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(b)&#160;&#160;&#160; Any fraud,
whether or not material, that involves management or other employees who have a
significant role in the company&#8217;s internal control over financial reporting. </font></p>

<p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr>
  <td width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">Date: March 28, 2019</font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=100% style="height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:12.0pt;">&nbsp;</font></p>
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">/s/ Carlos Torres Vila</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=100% style="padding:0cm 0cm 0cm 0cm;">
  <div style="border:none;border-top:solid black 1.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;text-align:justify;"><font face=Arial,sans-serif style="font-size:4.0pt;line-height:1.0pt;">&nbsp;</font></p>
  </div>

  </td>
 </tr>
<tr>
  <td valign=bottom width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">Group Executive Chairman</font></p>
  </td>
 </tr>
</table></div>


<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




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<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>3
<FILENAME>d20f2018exhibits1202.htm
<DESCRIPTION>EXHIBIT 12.2
<TEXT>

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<meta content="text/html; charset=utf-8" />


<title>CERTIFICATIONS</title>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 216.0pt right 432.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:right;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exhibit
12.2</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><u><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">CERTIFICATION</font></u></b></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:justify;"><font face=Arial,sans-serif lang=PT-BR style="font-size:10.0pt;">I, Onur Gen&#231;, certify that: </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160;&#160;&#160; I have reviewed
this annual report on Form 20-F of Banco Bilbao Vizcaya Argentaria, S.A.; </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.&#160;&#160;&#160; Based on my
knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report; </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">3.&#160;&#160;&#160; Based on my
knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the company as of, and for,
the periods presented in this report; </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">4.&#160;&#160;&#160; The company&#8217;s
other certifying officers and I are responsible for establishing and
maintaining disclosure controls and procedures (as defined in Exchange Act
Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting
(as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and
have: </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(a)&#160;&#160; Designed such
disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material
information relating to the company, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the
period in which this report is being prepared; </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(b)&#160;&#160; Designed such
internal control over financial reporting, or caused such internal control over
financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally
accepted accounting principles; </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(c)&#160;&#160; Evaluated the
effectiveness of the company&#8217;s disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure
controls and procedures, as of the end of the period covered by this report
based on such evaluation; and </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(d)&#160;&#160; Disclosed in this
report any change in the company&#8217;s internal control over financial reporting
that occurred during the period covered by the annual report that has
materially affected, or is reasonably likely to materially affect, the
company&#8217;s internal control over financial reporting; and </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">5.&#160;&#160;&#160; The company&#8217;s
other certifying officers and I have disclosed, based on our most recent
evaluation of internal control over financial reporting, to the company&#8217;s
auditors and the audit committee of the company&#8217;s board of directors (or
persons performing the equivalent functions): </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(a)&#160;&#160; All significant
deficiencies and material weaknesses in the design or operation of internal
control over financial reporting which are reasonably likely to adversely
affect the company&#8217;s ability to record, process, summarize and report financial
information; and </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(b)&#160;&#160; Any fraud,
whether or not material, that involves management or other employees who have a
significant role in the company&#8217;s internal control over financial reporting. </font></p>

<p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr>
  <td width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">Date: March 28, 2019</font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=100% style="height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:12.0pt;">&nbsp;</font></p>
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=PT-BR style="font-size:10.0pt;">/s/ Onur Gen&#231;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=100% style="padding:0cm 0cm 0cm 0cm;">
  <div style="border:none;border-top:solid black 1.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;text-align:justify;"><font face=Arial,sans-serif style="font-size:4.0pt;line-height:1.0pt;">&nbsp;</font></p>
  </div>

  </td>
 </tr>
<tr>
  <td valign=bottom width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">Chief Executive Officer</font></p>
  </td>
 </tr>
</table></div>


<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.3
<SEQUENCE>4
<FILENAME>d20f2018exhibits1203.htm
<DESCRIPTION>EXHIBIT 12.3
<TEXT>

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<head>
<meta content="text/html; charset=utf-8" />


<title>CERTIFICATIONS</title>


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<body><a name="page_1"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 216.0pt right 432.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:right;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exhibit
12.3</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><u><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">CERTIFICATION</font></u></b></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">I, Jaime S&#225;enz de Tejada Pulido, certify that: </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160;&#160;&#160; I have reviewed
this annual report on Form 20-F of Banco Bilbao Vizcaya Argentaria, S.A.; </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.&#160;&#160;&#160; Based on my
knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report; </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">3.&#160;&#160;&#160; Based on my
knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the company as of, and for,
the periods presented in this report; </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">4.&#160;&#160;&#160; The company&#8217;s
other certifying officers and I are responsible for establishing and
maintaining disclosure controls and procedures (as defined in Exchange Act
Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting
(as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and
have: </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(a)&#160;&#160; Designed such
disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material
information relating to the company, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the
period in which this report is being prepared; </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(b)&#160;&#160; Designed such
internal control over financial reporting, or caused such internal control over
financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally
accepted accounting principles; </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(c)&#160;&#160; Evaluated the
effectiveness of the company&#8217;s disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure
controls and procedures, as of the end of the period covered by this report
based on such evaluation; and </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.55pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(d)&#160;&#160; Disclosed in this
report any change in the company&#8217;s internal control over financial reporting
that occurred during the period covered by the annual report that has
materially affected, or is reasonably likely to materially affect, the
company&#8217;s internal control over financial reporting; and </font></p>

<p style="margin-bottom:.0001pt;margin-left:48.95pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">5.&#160;&#160;&#160; The company&#8217;s
other certifying officers and I have disclosed, based on our most recent
evaluation of internal control over financial reporting, to the company&#8217;s
auditors and the audit committee of the company&#8217;s board of directors (or
persons performing the equivalent functions): </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.4pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.4pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(a)&#160;&#160; All significant
deficiencies and material weaknesses in the design or operation of internal
control over financial reporting which are reasonably likely to adversely
affect the company&#8217;s ability to record, process, summarize and report financial
information; and </font></p>

<p style="margin-bottom:.0001pt;margin-left:79.4pt;margin-right:0cm;margin-top:4.5pt;text-align:justify;text-indent:-24.4pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(b)&#160;&#160; Any fraud,
whether or not material, that involves management or other employees who have a
significant role in the company&#8217;s internal control over financial reporting.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr>
  <td width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">Date: March 28, 2019</font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=100% style="height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=ES style="font-size:12.0pt;">&nbsp;</font></p>
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;">/s/ Jaime S&#225;enz de Tejada Pulido</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=100% style="padding:0cm 0cm 0cm 0cm;">
  <div style="border:none;border-top:solid black 1.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin-bottom:0cm;margin-left:0cm;margin-right:0cm;margin-top:1.0pt;padding:0cm;text-align:justify;"><font face=Arial,sans-serif lang=ES style="font-size:4.0pt;line-height:1.0pt;">&nbsp;</font></p>
  </div>

  </td>
 </tr>
<tr>
  <td valign=bottom width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="font-size:10.0pt;">Chief
  Financial Officer</font></p>
  </td>
 </tr>
</table></div>


<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




<DIV bclFooter>


<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:right 425.0pt;"><font style="mso-bidi-font-size:10.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></font></p>


</DIV>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>5
<FILENAME>d20f2018exhibits13.htm
<DESCRIPTION>EXHIBIT 13.1
<TEXT>

<html>

<head>
<meta content="text/html; charset=utf-8" />


<title>CERTIFICATIONS</title>


</head>

<body><a name="page_1"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 216.0pt right 432.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:right;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exhibit
13.1</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><u><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">CERTIFICATION PURSUANT
TO 18 U.S.C. SECTION 1350,</font></u></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><u><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">AS
ADOPTED PURSUANT TO</font></u></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><u><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">SECTION
906 OF THE SARBANES OXLEY ACT OF 2002</font></u></b></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;text-indent:24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The certification set forth below is being
submitted in connection with the Annual Report on Form 20-F for the year ended
December 31, 2018 (the &#8220;Annual Report&#8221;) for the purpose of complying with Rule
13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 (the
&#8220;Exchange Act&#8221;) and Section 1350 of Chapter 63 of Title 18 of the United States
Code. </font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;text-indent:24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Carlos Torres Vila, the Group Executive
Chairman, Onur Gen&#231;, the Chief Executive Officer, and Jaime S&#225;enz de Tejada
Pulido, the Chief Financial Officer, of Banco Bilbao Vizcaya Argentaria, S.A.,
each certifies that, to the best of his knowledge: </font></p>

<p style="margin-left:0cm;margin-right:0cm;text-align:justify;text-indent:24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">1. the Annual Report fully complies with the
requirements of Section 13(a) or 15(d) of the Exchange Act; and </font></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;text-align:justify;text-indent:24.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">2. the information
contained in the Annual Report fairly presents, in all material respects, the
financial condition and results of operations of Banco Bilbao Vizcaya
Argentaria, S.A.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:18.0pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Date: March 28, 2019</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<div align=right>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr>
  <td width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=100% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=100% style="border:none;border-bottom:solid black 1.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">/s/ Carlos Torres Vila</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">Carlos Torres Vila </font></p>
  <p style="margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">Group
  Executive Chairman</font></p>
  </td>
 </tr>
</table>


</div>


<p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<div align=right>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr>
  <td width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=100% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=100% style="border:none;border-bottom:solid black 1.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=PT-BR style="font-size:10.0pt;">/s/ Onur Gen&#231;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">Onur
  Gen&#231; </font></p>
  <p style="margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">Chief
  Executive Officer</font></p>
  </td>
 </tr>
</table>


</div>


<p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<div align=right>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr>
  <td width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=100% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=100% style="border:none;border-bottom:solid black 1.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;">/s/ Jaime S&#225;enz de Tejada Pulido</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=100% style="padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;">Jaime S&#225;enz de Tejada
  Pulido</font></p>
  <p style="margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Arial,sans-serif style="font-size:10.0pt;">Chief
  Financial Officer</font></p>
  </td>
 </tr>
</table>


</div>


<p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:right;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




<DIV bclFooter>


<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:right 425.0pt;"><font style="mso-bidi-font-size:10.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></font></p>


</DIV>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>6
<FILENAME>d20f2018exhibits151.htm
<DESCRIPTION>EXHIBIT 15.1
<TEXT>

<html>

<head>
<meta content="text/html; charset=utf-8" />


<title>CERTIFICATIONS</title>


</head>

<body><a name="page_1"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 216.0pt right 432.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:right;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exhibit&nbsp;15.1</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:1.0pt;">&nbsp;</font></p>

<p align=center style="background:white;margin:0cm;margin-bottom:12.0pt;text-align:center;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:1.0pt;">&nbsp;</font></p>

<p align=center style="margin-bottom:24.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:center;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:13.0pt;">Consent of Independent
Registered Public Accounting Firm</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">The Board of Directors</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">Banco Bilbao Vizcaya
Argentaria, S.A.:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">We consent to the
incorporation by reference in the registration statements No. 333&#8209;212729
on Form F-3 as amended and Nos. 333-228053, 333-217073, 333&#8209;208728, 333&#8209;199835,
333-191625, 333-185538, 333-178186, 333-167389, 333-163816, and 333-149157 on
Form S-8 of Banco Bilbao Vizcaya Argentaria, S.A. of our reports dated March
28, 2019, with respect to the consolidated balance sheets of Banco Bilbao
Vizcaya Argentaria, S.A. as of December 31, 2018 and 2017, the related
consolidated statements of income, recognized income and expenses, changes in
equity, and cash flows for the years then ended, and the related notes, and the
effectiveness of internal control over financial reporting as of December 31,
2018, which reports appear in the December 31, 2018 annual report on Form 20-F
of Banco Bilbao Vizcaya Argentaria, S.A.</font></p>

<p style="margin-bottom:18.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">Our report on the consolidated
financial statements refers to a change in accounting for financial instruments
due to the adoption of International Financial Reporting Standard 9, </font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">Financial
Instruments </font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">and to a change in accounting for hyperinflationary economies
under International Accounting Standard 29, </font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">Financial Reporting in
Hyperinflationary Economies.</font></i></p>

<p align=left style="margin-bottom:18.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:left;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;/s/&#160;
KPMG Auditores, S.L.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:12.0pt;">Madrid, Spain</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:12.0pt;">March 28, 2019</font></p>




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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:right 425.0pt;"><font style="mso-bidi-font-size:10.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></font></p>


</DIV>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.2
<SEQUENCE>7
<FILENAME>d20f2018exhibits152.htm
<DESCRIPTION>EXHIBIT 15.2
<TEXT>

<html>

<head>
<meta content="text/html; charset=utf-8" />


<title>CERTIFICATIONS</title>


</head>

<body><a name="page_1"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">
<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;text-align:right;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exhibit&nbsp;15.2</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:20.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">Consent of Independent Registered Public Accounting Firm</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">We consent to the incorporation by reference in
Registration Statement No. 333-212729 on Form F-3 and Registration Statements
Nos. 333-228053, 333-217073, 333-208728, 333-199835, 333-191625, 333-185538,
333-178186, 333-167389, 333-163816 and 333-149157 on Form S-8 of our report
dated March 31, 2017, relating to the consolidated financial statements as of
and for the year ended December 31, 2016 of Banco Bilbao Vizcaya Argentaria,
S.A. and subsidiaries composing the Banco Bilbao Vizcaya Argentaria Group (the
&#8220;Group&#8221;), appearing in this Annual Report on Form 20-F of the Group for the
year ended December 31, 2018.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;/s/&#160; Deloitte, S.L.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Madrid,
Spain</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">March
28, 2019</font></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>



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</TEXT>
</DOCUMENT>
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  <ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory id="ID_13" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;1.    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Introduction, basis for the presentation of the Consolidated Financial Statements, internal control over financial reporting and other information&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;1.1   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Introduction&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Banco Bilbao Vizcaya Argentaria, S.A.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; (hereinafter &amp;#8220;the Bank&amp;#8221; or &amp;#8220;BBVA&amp;quot;) is a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;private-law entity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; subject to the laws and regulations governing banking entities operating in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Spain&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. It carries out its activity through branches and agencies &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;across the country and abroad.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Bylaws and other public information are available for inspection at the Bank&amp;#8217;s registered address (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Plaza San Nicol&amp;#225;s, 4 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Bilbao&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;) as noted on its web site (www.bbva.com).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition to the activities it carries out directl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;y, the Bank heads a group of subsidiaries, joint ventures and associates which perform a wide range of activities and which together with the Bank constitute the Banco Bilbao Vizcaya Argentaria Group (hereinafter, &amp;#8220;the Group&amp;#8221; or &amp;#8220;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;BBVA Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#8221;). In addit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ion to its own separate Financial Statements, the Bank is required to prepare Consolidated Financial Statements comprising all consolidated subsidiaries of the Group.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, the BBVA Group had &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;297 consolidated entities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;66 entities acc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ounted for using the equity method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; (see Notes 3 and 16 and Appendix I to V).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Consolidated Financial Statements of the BBVA Group for the year ended December 31, 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; have been authorized for issue on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;March 28&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;1.2   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Basis for the presentation of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Consolidated Financial Statements&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group&amp;#8217;s Consolidated Financial Statements are presented in compliance with IFRS-IASB (International Financial Reporting Standards as issued by the International Accounting Standards Board), as well as in accor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;dance with the International Financial Reporting Standards endorsed by the European Union (hereinafter, &amp;#8220;EU-IFRS&amp;#8221;) applicable as of December 31, 2018, considering the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Bank of Spain Circular &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;4/2017, and with any other legislation governing financial reporti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ng applicable to the Group in Spain.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group&amp;#8217;s accompanying Consolidated Financial Statements for the year ended December 31, 2018 were prepared by the Group&amp;#8217;s Directors (through the Board of Directors meeting held on February 11, 2019) by applying &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the principles of consolidation, accounting policies and valuation criteria described in Note 2, so that they present fairly the Group&amp;#8217;s total consolidated equity and financial position as of December 31, 2018, together with the consolidated results of its&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; operations and cash flows generated during the year ended December 31, 2018.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These Consolidated Financial Statements were prepared on the basis of the accounting records kept by the Bank and each of the other entities in the Group. Moreover, they include &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the adjustments and reclassifications required to harmonize the accounting policies and valuation criteria used by the Group (see Note 2.2).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;All effective accounting standards and valuation criteria with a significant effect in the Consolidated Financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Statements were applied in their preparation.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amounts reflected in the accompanying Consolidated Financial Statements are presented in millions of euros, unless it is more appropriate to use smaller units. Some items that appear without a balance in t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hese Consolidated Financial Statements are due to how the units are expressed. Also, in presenting amounts in millions of euros, the accounting balances have been rounded up or down. It is therefore possible that the totals appearing in some tables are not&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the exact arithmetical sum of their component figures.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The percentage changes in amounts have been calculated using figures expressed in thousands of euros&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;1.3   Comparative information&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-style:italic;margin-left:0pt;color:#5B9BD5;' &gt;Changes in accounting policies&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Application of IFRS 9&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of January &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1, 2018, IFRS 9 &amp;#8220;Financial instruments&amp;#8221; replaced IAS 39 &amp;#8220;Financial Instruments: Recognition and Measurement&amp;#8221; and includes changes in the requirements for the classification and measurement of financial assets and financial liabilities, the impairment of fi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nancial assets and hedge accounting (see Note 2.2.1). As permitted by the standard, IFRS 9 has not been applied retrospectively for previous years. The impact of the first application of IFRS 9 is presented in Note 2.4.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As a consequence of the application &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of IFRS 9, the comparative information for the financial years 2017 and 2016 included in these Consolidated Financial Statements has been subject to some non-significant modifications in order to improve the comparability with the figures of the financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;year 2018.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Hyperinflationary economies&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group&amp;#8217;s experience applying IAS 29 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;quot;Financial information in hyperinflationary economies&amp;quot; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in its subsidiaries in Venezuela allows us to confirm the complexity of applying the accounting mechanism of inflation toge&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ther with the historical movements of the exchange rates in a way that results are economically understandable, especially when there is not a consistent evolution between inflation and exchange rate in each period.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In this context, with the aim of improvi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ng the faithful representation of the financial statements, during 2018 the Group made an accounting policy change which involves recording in a single account of &amp;quot;Shareholders&amp;#8217; funds &amp;#8211; retained earnings&amp;quot;, both the revaluation of non-monetary items due to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the effect of hyperinflation and the differences generated when translating the restated financial statements of the subsidiaries in hyperinflationary economies into euros. Translation differences, prior to the accounting policy change were recorded in the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; item &amp;#8220;Accumulated other comprehensive income &amp;#8211; items that may be reclassified to profit or loss &amp;#8211; foreign currency translation&amp;#8221; (see Notes 2.2.16 and 2.2.20). The accounting policy change, in accordance with IAS 8, offers and provides more reliable and re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;levant information of operations in hyperinflationary economies.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In order to make the information comparable, we have restated the information of the previous years, in such a way that &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1,853, &amp;#8364;1,836 and &amp;#8364;1,826 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;million have been reclassified from &amp;quot;Accumula&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ted other comprehensive income &amp;#8211; items that may be reclassified to profit or loss &amp;#8211; foreign currency translation&amp;quot; to &amp;quot;Shareholders&amp;#8217; funds &amp;#8211; retained earnings&amp;quot; as of December 31, 2017, December 31, 2016 and January 1, 2016, respectively, relating to the Gro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;up companies registered in Venezuela (an economy that was also considered hyperinflationary in 2017 and 2016). Additionally, &amp;#8364;828, &amp;#8364;817 and &amp;#8364;816 million have been reclassified from &amp;#8220;Non-controlling interest &amp;#8211;Accumulated other comprehensive income&amp;#8221; to &amp;#8220;Non-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;controlling interest &amp;#8211; other&amp;#8221; as of December 31, 2017, December 31, 2016 and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; January 1, 2016, respectively.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he reclassification corresponding to January 1, 2018, 2017 and 2016 is recorded as &amp;quot;Effects of changes in accounting policies&amp;quot; in the Consolidated Statement of Changes in Equity corresponding to the years ended December 31, 2018, 2017 and 2016. In the cons&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;olidated balance sheet as of December 31, 2018, 2017 and 2016, the heading &amp;quot; Shareholders&amp;#8217; funds &amp;#8211; retained earnings&amp;#8221; includes both the translation differences and the effects of restatement for inflation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-style:italic;margin-left:0pt;color:#5B9BD5;' &gt;Operating segments&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;During 2018, there were no sig&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nificant changes to the existing structure of the BBVA Group&amp;#8217;s operating segments in comparison to 2017 (see Note 6). Certain prior year balances have been reclassified to conform to current year presentation.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;1.4   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Seasonal nature of income and expenses&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The nature of the most significant activities carried out by the BBVA Group&amp;#8217;s entities is mainly related to typical activities carried out by financial institutions, which are not significantly affected by seasonal factors within the same year.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;1.5   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Respo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;nsibility for the information and for the estimates made&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The information contained in the BBVA Group&amp;#8217;s Consolidated Financial Statements is the responsibility of the Group&amp;#8217;s Directors.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Estimates were required to be made at times when preparing these Consol&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;idated Financial Statements in order to calculate the recorded or disclosed amount of some assets, liabilities, income, expenses and commitments. These estimates relate mainly to the following:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Impairment on certain financial assets (see Notes 7, 13, 14 an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;d 16).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The assumptions used to quantify certain provisions (see Note 24) and for the actuarial calculation of post-employment benefit liabilities and commitments (see Note 25).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The useful life and impairment losses of tangible and intangible assets (see No&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;tes 17, 18, 20 and 21).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The valuation of goodwill and price allocation of business combinations (see Note 18).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The fair value of certain unlisted financial assets and liabilities (see Notes 7, 8, 10, 11, 12 and 13).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The recoverability of deferred tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;assets (See Note 19).&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Although these estimates were made on the basis of the best information available as of the end of the reporting period, future events may make it necessary to modify them (either up or down) over the coming years. This would be done &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;prospectively in accordance with applicable standards, recognizing the effects of changes in the estimates in the corresponding consolidated income statement.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;During 2018, 2017 and 2016 there were no significant changes to the assumptions and estimations, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;except as indicated in these Consolidated Financial Statements.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;1.6   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;BBVA Group&amp;#8217;s Internal Control over Financial Reporting&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA Group&amp;#8217;s Consolidated Financial Statements are prepared under an Internal Control over Financial Reporting Model (hereinafter &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#8220;ICFR&amp;quot;). It provides reasonable assurance with respect to the reliability and the integrity of the consolidated financial statements. It is also aimed to ensure that the transactions are processed in accordance with the applicable laws and regulations.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e ICFR is in accordance with the control framework established in 2013 by the &amp;#8220;Committee of Sponsoring Organizations of the Treadway Commission&amp;#8221; (hereinafter, &amp;quot;COSO&amp;quot;). The COSO 2013 framework sets five components that constitute the basis of the effectiven&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ess and efficiency of the internal control systems:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The establishment of an appropriate control framework.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The assessment of the risks that could arise during the preparation of the financial information.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The design of the necessary controls to mitigate &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the identified risks.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The establishment of an appropriate system of information to detect and report system weaknesses.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The monitoring activities over the controls to ensure they perform correctly and are effective over time.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The ICFR is a dynamic model th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;at evolves continuously over time to reflect the reality of the BBVA Group&amp;#8217;s businesses and processes, as well as the risks and controls designed to mitigate them. It is subject to a continuous evaluation by the internal control units located in the differ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ent entities of BBVA Group.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These internal control units are integrated within the BBVA internal control model which is based in two pillars:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;A control system organized into three lines of defense:&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:32.2pt;color:#000000;' &gt;- T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;he first line is located within the business and support units, which are responsible for identifying risks associated with their processes and to execute the controls established to mitigate them.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:32.2pt;color:#000000;' &gt;- T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;he second line comprises the specialized control units &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;(Compliance, Internal Financial Control, Internal Risk Control, Engineering Risk, Fraud &amp;amp; Security, and Operations Control among others). This second line defines the models and controls under their areas of responsibility and monitors the design, correct &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;implementation and effectiveness of the controls&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:32.2pt;color:#000000;' &gt;- T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;he third line is the Internal Audit unit, which conducts an independent review of the model, verifying the compliance and effectiveness of the model.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;A set of committees called Corporate Assurance that he&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;lps to escalate the internal control issues to the management at a Group level and also in each of the countries where the Group operates.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The ICFR Model is subject to annual evaluations by the Group&amp;#8217;s Internal Audit Unit. It is also supervised by the Audit and Compliance Committee of the Bank&amp;#8217;s Board of Directors.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;also &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;required to comply&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; with Sarbanes-Oxley Act (hereafter &amp;#8220;SOX&amp;#8221;) for Consolidated Financial Statements as a listed company with the U.S. Securities and Exchange Commission (&amp;#8220;SEC&amp;#8221;). The main senior executives of the Group are involved in the design, compliance and implementation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of the internal control model to make it effective and to ensure the quality and accuracy of the financial information.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory>
  <ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory id="ID_14" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;2.  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Principles of consolidation, accounting policies and measurement bases applied and recent IFRS pronouncements&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Glossary includes the definition of some of the financial and economic terms used in Note 2 and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;subsequent Notes.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.1   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Principles of consolidation&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In terms of its consolidation, in accordance with the criteria established by IFRS, the BBVA Group is made up of four types of entities: subsidiaries, joint ventures, associates and structured entities, d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;efined as follows:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Subsidiaries&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Subsidiaries are entities controlled by the Group. The financial statements of the subsidiaries are fully consolidated with those of the Bank. The share of non-controlling interests from subsidiaries in the Group&amp;#8217;s &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;consolidated total equity is presented under the heading &amp;#8220;Minority interests (Non-controlling interests)&amp;#8221; in the consolidated balance sheet. Their share in the profit or loss for the period or year is presented under the heading &amp;#8220;Attributable to minority i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nterest (non-controlling interests)&amp;#8221; in the accompanying consolidated income statement (see Note 31).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Note 3 includes information related to the main subsidiaries in the Group as of December 31, 2018. Appendix I includes other significant information on th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ese entities.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Joint &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ventures&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Joint ventures are those entities over which there is a joint arrangement to joint control with third parties other than the Group (for definitions of joint arrangement, joint control and joint venture, refer to Glossary). &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The investments in joint ventures are accounted for using the equity method (see Note 16). Appendix II shows the main figures for joint ventures accounted for using the equity method. &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Associates&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Associates are entities in which the Group is able to exerci&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;se significant influence (for definition of significant influence, see Glossary). Significant influence is deemed to exist when the Group owns 20% or more of the voting rights of an investee directly or indirectly, unless it can be clearly demonstrated tha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t this is not the case.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;However, certain entities in which the Group owns 20% or more of the voting rights are not included as Group associates, since the Group does not have the ability to exercise significant influence over these entities. Investments in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; these entities, which do not represent material amounts for the Group, are classified as &amp;#8220;Financial assets at fair value through other comprehensive income&amp;#8221;. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In contrast, some investments in entities in which the Group holds less than 20% of the voting r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ights are accounted for as Group associates, as the Group is considered to have the ability to exercise significant influence over these entities. As of December 31, 2018, 2017 and 2016 these entities are not significant in the Group.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Appendix II shows th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e most significant information related to the associates (see Note 16), which are accounted for using the equity method.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Structured&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; Entities&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;A structured entity is an entity that has been designed so that voting or similar rights are not the dominant facto&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;r in deciding who controls the entity, such as when the voting rights relate to administrative matters only and the relevant activities are directed by means of contractual arrangements (see Glossary).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In those cases where the Group sets up entities or has&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; a holding in such entities, in order to allow its customers access to certain investments, to transfer risks or for other purposes, in accordance with internal criteria and procedures and with applicable regulations, the Group determines whether control o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ver the entity in question actually exists and therefore whether it should be subject to consolidation.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Such methods and procedures determine whether there is control by the Group, considering how the decisions are made about the relevant activities, asses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ses whether the Group has all power over the relevant elements, exposure, or rights, to variable returns from involvement with the investee and the ability to use power over the investee to affect the amount of the investor&amp;#8217;s returns.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Structured&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; entities s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ubject to consolidation&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;To determine if a structured entity is controlled by the Group, and therefore should be consolidated into the Group, the existing contractual rights (different from the voting rights) are analyzed. For this reason, an analysis of th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e structure and purpose of each investee is performed and, among others, the following factors will be considered:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- E&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;vidence of the current ability to manage the relevant activities of the investee according to the specific business needs (including any d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ecisions that may arise only in particular circumstances).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Potential existence of a special relationship with the investee.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- Implicit or explicit Group commitments to support the investee.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- The ability to use the Group&amp;#180;s power over the investee to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;affect the amount of the Group&amp;#8217;s returns.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;There are cases where the Group has a high exposure to variable returns and retains decision-making power over the investee, either directly or through an agent.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The main structured entities of the Group are the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;asset securitization funds, to which the BBVA Group transfers loans and receivables portfolios, and other vehicles, which allow the Group&amp;#8217;s customers to gain access to certain investments or to allow for the transfer of risks or for other purposes (see App&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;endices I and V). The BBVA Group maintains the decision-making power over the relevant activities of these vehicles and financial support through securitized market standard contracts. The most common ones are: investment positions in equity note tranches,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; funding through subordinated debt, credit enhancements through derivative instruments or liquidity lines, management rights of defaulted securitized assets, &amp;#8220;clean-up&amp;#8221; call derivatives, and asset rep&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;urchase clauses by the grantor.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;For these reasons, the l&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;oans and receivable portfolios related to the vast majority of the securitizations carried out by the Bank or Group subsidiaries are not derecognized in the books of said entity and the issuances of the related debt securities are recorded as liabilities w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ithin the Group&amp;#8217;s consolidated balance sheet.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Non-consolidated structured entities&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group owns other vehicles also for the purpose of allowing customers access to certain investments, to transfer risks, and for other purposes, but without the Group having control of the vehicles, which are not consolidated in accordance with &amp;#8220;IFRS 10 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;- Consolidated Financial Statements&amp;#8221;. The balance of assets and liabilities of these vehicles is not material in relation to the Group&amp;#8217;s Consolidated Financial Statements. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016 there was no material financial support from&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the Bank or its subsidiaries to unconsolidated structured entities.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group does not consolidate any of the mutual funds it manages since the necessary control conditions are not met (see definition of control in the Glossary). Particularly, the BBVA G&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;roup does not act as arranger but as agent since it operates the mutual funds on behalf and for the benefit of investors or parties (arranger or arrangers) and, for this reason it does not control the mutual funds when exercising its authority for decision&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; making.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The mutual funds managed by the Group are not considered structured entities (generally, retail funds without corporate identity over which investors have participations which gives them ownership of said managed equity). These funds are not depen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;dent on a capital structure that could prevent them from carry out activities without additional financial support, being in any case insufficient as far as the activities themselves are concerned. Additionally, the risk of the investment is absorbed by th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e fund participants, and the Group is only exposed when it becomes a participant, and as such, there is no other risk for the Group.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In all cases, the operating results of equity method investees acquired by the BBVA Group in a particular period only inclu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;de the period from the date of acquisition to the financial statements date. Similarly, the results of entities disposed of during any only include year the period from the start of the year to the date of disposal.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The consolidated financial statements of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; subsidiaries, associates and joint ventures used in the preparation of the Consolidated Financial Statements of the Group have the same presentation date as the Consolidated Financial Statements. If financial statements at those same dates are not availab&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;le, the most recent will be used, as long as these are not older than three months, and adjusted to take into account the most significant transactions. As of December 31, 2018, except for the case of the consolidated financial statements of two subsidiari&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;es and six associates and joint-ventures deemed non-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;significant for which &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;financial statements&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;as of November 30, 2018 were used, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the December 31, 2018 financial statements for of all Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; entities were utilized.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA banking subsidiaries, associates and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;joint ventures worldwide, are subject to supervision and regulation from a variety of regulatory bodies in relation to, among other aspects, the satisfaction of minimum capital requirements. The obligation to satisfy such capital requirements may affect th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e ability of such entities to transfer funds in the form of cash dividends, loans or advances. In addition, under the laws of the various jurisdictions where such entities are incorporated, dividends may only be paid out through funds legally available for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; such purpose. Even when the minimum capital requirements are met and funds are legally available, the relevant regulators or other public administrations could discourage or delay the transfer of funds to the Group in the form of cash, dividends, loans or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; advances for prudential reasons.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Accounting policies and valuation criteria applied&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The accounting standards and policies and the valuation criteria applied in preparing these Consolidated Financial Statements may differ from those used by some of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the entities within the BBVA Group. For this reason, necessary adjustments and reclassifications have been made in the consolidation process to standardize these principles and criteria and comply with the IFRS-IASB.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The accounting standards and policies &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;and valuation criteria used in preparing the accompanying Consolidated Financial Statements are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.1   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Financial instruments&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As mentioned in Note 1.3, IFRS 9 became effective as of January 1, 2018 and replaced IAS 39 regarding the classificati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;on and measurement of financial assets and liabilities, the impairment of financial assets and hedge accounting.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The disclosures related to the financial years 2017 and 2016 are based on the accounting policies and valuation criteria applicable under IAS 3&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;9.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;Classification and measurement of financial assets under IFRS 9&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#004580;' &gt;Classification of financial assets&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;IFRS 9 contains three main categories for financial assets classification: measured at amortized cost, measured at fair value with changes through other &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;comprehensive income, and measured at fair value through profit or loss.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The classification of financial assets measured at amortized cost or fair value must be carried out on the basis of two tests: the entity&amp;#39;s business model and the assessment of the co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ntractual cash flow, commonly known as the &amp;quot;solely payments of principle and interest&amp;quot; criterion (hereinafter, the SPPI).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;A debt instrument will be classified in the amortized cost portfolio if &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the two following conditions are fulfilled:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;financial asse&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;t is managed within a business model whose purpose is to maintain the financial assets to receive contractual cash flows; and&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;In accordance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; with the contractual characteristics of the instrument its cash flows only represent the return of the principal and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; interest, basically understood as consideration for the time value of money and the debtor&amp;#39;s credit risk.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;A debt instrument will be classified in the portfolio of financial assets at fair value with changes through other comprehensive income if the two fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;llowing conditions are fulfilled:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The financial asset is managed with a business model whose purpose combines collection of the contractual cash flows and sale of the assets, and&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The contractual characteristics of the instrument generate, at specific dates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;, cash flows which only represent the return of the principal and interest.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;A debt instrument will be classified at fair value with changes in profit and loss provided that the entity&amp;#39;s business model for their management or the contractual characteristics&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of its cash flows do not require classification into one of the portfolios described above.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In general, equity instruments will be measured at fair value through profit or loss. However the Group may make an irrevocable election at initial recognition to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;present subsequent changes in the fair value through other comprehensive income.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Financial assets will only be reclassified when BBVA Group decides to change the business model. In this case, all of the financial assets assigned to this business model will&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; be reclassified. The change of the objective of the business model should occur before the date of the reclassification.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Valuation of financial assets&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;All financial instruments are initially recognized at fair value plus, in the case of a financial asset &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition or issue of the instrument.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Excluding all trading derivatives not considered as accounting or economic hedges, all the changes in the fair value &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of the financial instruments arising from the accrual of interest and similar items are recognized under the headings &amp;#8220;Interest and other income&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;, as appropriate, in the accompanying consolidated income statement in the period in whic&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;h the change occurred (see Note 37). The changes in fair value after the initial recognition, for reasons other than those mentioned in the preceding paragraph, are treated as described below, according to the categories of financial assets.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;&amp;#8220;Financial as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#006EC1;' &gt;sets held for trading&amp;#8221;, &amp;#8220;Non-trading financial assets mandatorily at fair value through profit and loss&amp;#8221; and &amp;#8220;Financial assets designated at fair value through profit or loss&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Financial assets are recorded under the heading &amp;#8220;Financial assets held for tradi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ng&amp;#8221; if the objective of the business model is to generate gains by buying and selling these financial instruments or generate short-term results. The financial assets recorded in the heading &amp;#8220;Non-trading financial assets mandatorily at fair value through p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;rofit and loss&amp;#8221; are assigned to a business model which objective is to obtain the contractual cash flows and / or to sell those instruments but its contractual cash flows do not comply with the requirements of the SPPI test. In &amp;#8220;Financial assets designated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; at fair value through profit or loss&amp;#8221; the Group classifies financial assets only if it eliminates or significantly reduces a measurement or recognition inconsistency (an &amp;#8216;accounting mismatch&amp;#8217;) that would otherwise arise from measuring financial assets or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;financial liabilities, or recognizing gains or losses on them, on different bases. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;The assets recognized under these headings of the consolidated balance sheets are measured upon acquisition at fair value and changes in the fair value (gains or losses) ar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;e recognized as their net value under the heading &amp;#8220;Gains (losses) on financial assets and liabilities, net&amp;#8221; in the accompanying consolidated income statements (see Note 41). Interests from derivatives designated as economic hedges on interest rate are reco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;gnized in &amp;#8220;Interest and other income&amp;#8221; or &amp;#8220;Interest expense&amp;#8221; (see Note 37), depending on the result of the hedging instrument. However, changes in fair value resulting from variations in foreign exchange rates are recognized under the heading &amp;#8220;Gains (losses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;) on financial assets and liabilities, net&amp;#8221; in the accompanying consolidated income statements (Note 41).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;&amp;#8221;Financial assets at fair value through other comprehensive income&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Debt instruments&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Assets recognized under this heading in the consolidated balance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;sheets are measured at their fair value. Subsequent changes in fair value (gains or losses) are recognized temporarily net of tax effect, under the heading &amp;#8220;Accumulated other comprehensive income- Items that may be reclassified to profit or loss - Fair val&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ue changes of debt instruments measured at fair value through other comprehensive income&amp;#8221; in the consolidated balance sheets (see Note 30).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;The amounts recognized under the headings &amp;#8220;Accumulated other comprehensive income- Items that may be reclassified to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; profit or loss - Fair value changes of financial assets measured at fair value through other comprehensive income&amp;#8221; and &amp;#8220;Accumulated other comprehensive income- Items that may be reclassified to profit or loss - Exchange differences&amp;#8221; continue to form part &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;of the Group&amp;#39;s consolidated equity until the corresponding asset is derecognized from the consolidated balance sheet or until an impairment loss is recognized on the corresponding financial instrument. If these assets are sold, these amounts are derecogniz&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ed and included under the headings &amp;#8220;Gains (losses) on financial assets and liabilities, net&amp;#8221; or &amp;#8220;Exchange differences, net&amp;quot;, as appropriate, in the consolidated income statement for the year in which they are derecognized (see Note 41).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;The net impairment &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;losses in &amp;#8220;Financial assets at fair value through other comprehensive income&amp;#8221; over the year are recognized under the heading &amp;#8220;Impairment losses on financial assets, net &amp;#8211; Financial assets at fair value through other comprehensive income&amp;#8221; (see Note 47) in t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;he consolidated income statements for that period.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Changes in foreign exchange rates which affect monetary items are recognized under the heading &amp;#8220;Exchange differences, net&amp;quot; in the accompanying consolidated income statements (see Note 41).&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Equity instrumen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ts&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;The BBVA Group, at the time of the initial recognition, may elect to present changes in the fair value in other comprehensive income of an investment in an equity instrument that is not held for trading. The election is irrevocable and can be made on an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; instrument-by-instrument basis. Subsequent changes in fair value (gains or losses) are recognized, under the heading &amp;#8220;Accumulated other comprehensive income (loss) &amp;#8211; Items that will not be reclassified to profit or loss &amp;#8211; Fair value changes of equity inst&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ruments measured at fair value through other comprehensive income&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;&amp;#8220;Financial assets at amortized cost&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;A financial asset is classified as subsequently measured at amortized cost if it is held within a business model whose objective is to hold financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;assets in order to collect and it meets the SPPI Criterion.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;The assets under this category are subsequently measured at amortized cost, using the effective interest rate method.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Net impairment losses of assets recorded under these headings arising in each &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;period are recognized under the heading &amp;#8220;Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss &amp;#8211; financial assets measured at cost&amp;#8221; (see Note 47) in the consolidated income statement for that period.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;Classification and measurement of financial liabilities under IFRS 9&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#004580;' &gt;Classification of financial liabilities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Under IFRS 9, financial liabilities are classified in the following categories:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Financial liabilities at amortized cost;&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Financial liabilities that&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; are held for trading including derivatives are financial instruments which are recorded in this category when the Group&amp;#8217;s objective is to generate gains by buying and selling these financial instruments;&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Financial liabilities that are designated at fair v&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;alue through profit or loss on initial recognition under the Fair Value Option. The Group has the option to designate irrevocably on initial recognition a financial liability as at fair value through profit or loss provided that doing so results in the eli&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;mination or significant reduction of measurement or recognition inconsistency, or if a group of financial liabilities, or a group of financial assets and financial liabilities, has to be managed, and its performance evaluated, on a fair value basis in acco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;rdance with a documented risk management or investment strategy.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Valuation of financial liabilities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;All financial instruments are initially recognized at fair value plus, in the case of a financial liability not at fair value through profit or loss, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;transaction costs that are directly attributable to the acquisition or issue of the financial liability. Unless there is evidence to the contrary, the best evidence of the fair value of a financial instrument at initial recognition shall be the transaction&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; price.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Excluding all trading derivatives not considered as accounting or economic hedges, all the changes in the fair value of the financial instruments arising from the accrual of interest and similar items are recognized under the headings &amp;#8220;Interest and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; other income&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;, as appropriate, in the accompanying consolidated income statement in the period in which the change occurred (see Note 37).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The changes in fair value after the initial recognition, for reasons other than those mentione&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;d in the preceding paragraph, are treated as described below, according to the categories of financial liabilities.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;&amp;#8220;Financial liabilities held for trading&amp;#8221; and &amp;#8220;Financial liabilities designated at fair value through profit or loss&amp;#8220;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The subsequent changes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; in the fair value (gains or losses) of the liabilities recognized under these headings of the consolidated balance sheets are recognized as their net value under the heading &amp;#8220;Gains (losses) on financial assets and liabilities, net&amp;#8221; in the accompanying con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;solidated income statements (see Note 41), except for the financial liabilities designated at fair value through profit and loss under the fair value option for which the amount of change in the fair value that is attributable to changes in the own credit &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;risk which is presented in under the heading &amp;#8220;Accumulated other comprehensive income (loss) &amp;#8211; Items that will not be reclassified to profit or loss &amp;#8211; Fair value changes of financial liabilities at fair value through profit or loss attributable to changes i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n their &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;credit risk&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. Interests from derivatives designated as economic hedges on interest rate are recognized in &amp;#8220;Interest and other income&amp;#8221; or &amp;#8220;Interest expense&amp;#8221; (Note 37), depending on the result of the hedging instrument. However, changes in fair value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; resulting from variations in foreign exchange rates are recognized under the heading &amp;#8220;Gains (losses) on financial assets and liabilities, net&amp;#8221; in the accompanying consolidated income statements (Note 41).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;&amp;#8220;Financial liabilities at amortized cost&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;The liab&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ilities under this category are subsequently measured at amortized cost, using the effective interest rate method.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;Measurement of financial assets and liabilities under IAS 39 applicable in the financial years 2017 and 2016&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Measurement of financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#006EC1;' &gt;instruments and recognition of changes in subsequent fair value&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;All financial instruments are initially accounted for at fair value plus, in the case of a financial asset or financial liability not at fair value through profit or loss, transaction costs th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;at are directly attributable to the acquisition or issue of the financial asset or financial liability. Unless there is evidence to the contrary, the best evidence of the fair value of a financial instrument at initial recognition shall be the transaction &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;price.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Excluding all trading derivatives not considered as accounting or economic hedges, all the changes in the fair value of the financial instruments arising from the accrual of interest and similar items are recognized under the headings &amp;#8220;Interest and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;other income&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;, as appropriate, in the accompanying consolidated income statement the year in which the change occurred (see Note 37). The dividends received from other entities, other than associated entities and joint venture entitie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;s, are recognized under the heading &amp;#8220;Dividend income&amp;#8221; in the accompanying consolidated income statement in the year in which the right to receive them arises (see Note 38).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The changes in fair value after the initial recognition, for reasons other than &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;those mentioned in the preceding&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;paragraph, are treated as described below, according to the categories of financial assets and liabilities.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;&amp;#8220;Financial assets and liabilities held for trading&amp;#8221; and &amp;#8220;Financial assets and liabilities designated at fair value &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt;through profit or loss&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The assets and liabilities recognized under these headings of the consolidated balance sheets are measured upon acquisition at fair value and changes in the fair value (gains or losses) are recognized as their net value under the he&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ading &amp;#8220;Gains (losses) on financial assets and liabilities, net&amp;#8221; in the accompanying consolidated income statements (see Note 41). Interests from derivatives designated as economic or accounting hedges on interest rate are recognized under the heading &amp;#8220;Inte&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rest and other income&amp;#8221; or &amp;#8220;Interest expense&amp;#8221; (Note 37), depending on the result of the hedging instrument&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#FF0000;' &gt;. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Changes in fair value resulting from variations in foreign exchange rates are recognized under the heading &amp;#8220;Gains (losses) on financial assets and li&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;abilities, net&amp;#8221; in the accompanying consolidated income statements (Note 41).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;&amp;#8220;Financial assets at fair value through other comprehensive income&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Assets recognized under this heading in the consolidated balance sheets are measured at their fair value. Sub&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sequent changes in fair value (gains or losses) are recognized temporarily net of tax effect, under the heading &amp;#8220;Accumulated other comprehensive income - Items that may be reclassified to profit or loss - Financial assets at fair value through other compre&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hensive income&amp;#8221; in the consolidated balance sheets (see Note 30).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amounts recognized under the headings &amp;#8220;Accumulated other comprehensive income - Items that may be reclassified to profit or loss - Financial assets at fair value through other comprehens&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ive income&amp;#8221; and &amp;#8220;Accumulated other comprehensive income - Items that may be reclassified to profit or loss - Exchange differences&amp;#8221; continue to form part of the Group&amp;#39;s consolidated equity until the corresponding asset is derecognized from the consolidated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;balance sheet or until an impairment loss is recognized on the corresponding financial instrument. If these assets are sold, these amounts are derecognized and included under the headings &amp;#8220;Gains (losses) on financial assets and liabilities, net&amp;#8221; or &amp;#8220;Exchan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ge differences, net&amp;quot;, as appropriate, in the consolidated income statement for the year in which they are derecognized (see Note 41).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The net impairment losses in &amp;#8220;Financial assets at fair value through other comprehensive income&amp;#8221; over the year are recogni&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;zed under the heading &amp;#8220;Impairment losses on financial assets, net &amp;#8211; Other financial instruments not at fair value through profit or loss&amp;#8221; (see Note 47) in the consolidated income statements for that year.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Changes in the value of non-monetary items resultin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;g from changes in foreign exchange rates are recognized temporarily under the heading &amp;#8220;Accumulated other comprehensive income - Items that may be reclassified to profit or loss - Exchange differences&amp;#8221; in the accompanying consolidated balance sheets. Change&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s in foreign exchange rates which affect monetary items are recognized under the heading &amp;#8220;Exchange differences, net&amp;quot; in the accompanying consolidated income statements (see Note 41).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;&amp;#8220;Financial assets and liabilities at amortized cost&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Assets and liabiliti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;es recognized under these headings in the accompanying consolidated balance sheets are subsequently measured at &amp;#8220;amortized cost&amp;#8221; using the &amp;#8220;effective interest rate&amp;#8221; method. This is because the consolidated entities generally intend to hold such financial i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nstruments to maturity.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Net impairment losses of assets recognized under these headings arising in each year are recognized under the heading &amp;#8220;Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss &amp;#8211; fina&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ncial assets measured at cost&amp;#8221; (see Note 47) in the consolidated income statement for that year.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;&amp;#8220;Derivatives-Hedge Accounting&amp;#8221; and &amp;#8220;Fair value changes of the hedged items in portfolio hedges of interest-rate risk&amp;#8221; applicable in the financial years 2018, 2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#094FA4;' &gt;017 and 2016&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Assets and liabilities recognized under these headings in the accompanying consolidated balance sheets are measured at fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#7F7F7F;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;value.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Changes occurring subsequent to the designation of the hedging relationship in the measurement of financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;instruments designated as hedged items as well as financial instruments designated as hedge accounting instruments are recognized as follows:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;In fair value hedges, the changes in the fair value of the derivative and the hedged item attributable to the hedg&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ed risk are recognized under the heading &amp;#8220;Gains or losses from hedge accounting, net&amp;#8221; in the consolidated income statement, with a corresponding offset under the headings where hedging items (&amp;quot;Hedging derivatives&amp;quot;) and the hedged items are recognized, as a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;pplicable. Almost all of the hedges used by the Group are for interest-rate risks. Therefore, the valuation changes are recognized under the headings &amp;#8220;Interest and other income&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;, as appropriate, in the accompanying consolidated income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; statement (see Note 37).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;In fair value hedges of interest rate risk of a portfolio of financial instruments (portfolio-hedges), the gains or losses that arise in the measurement of the hedging instrument are recognized in the consolidated income &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;statement, and the gains or losses that arise from the change in the fair value of the hedged item (attributable to the hedged risk) are also recognized in the consolidated income statement (in both cases under the heading &amp;#8220;Gains or losses from hedge accou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;nting, net&amp;#8221;, using, as a balancing item, the headings &amp;quot;Fair value changes of the hedged items in portfolio hedges of interest rate risk&amp;quot; in the consolidated balance sheets, as applicable).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;In cash flow hedges, the gain or loss on the hedging instruments re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;lating to the effective portion are recognized temporarily under the heading   &amp;#8221;Accumulated other comprehensive income - Items that may be reclassified to profit or loss - Hedging derivatives. Cash flow hedges&amp;#8221; in the consolidated balance sheets, with a ba&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;lancing entry under the heading &amp;#8220;Hedging derivatives&amp;#8221; of the Assets or Liabilities of the consolidated balance sheets as applicable. These differences are recognized in the accompanying consolidated income statement under the headings &amp;#8220;Interest and other i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ncome&amp;#8221; or &amp;#8220;Interest expense&amp;#8221; at the time when the gain or loss in the hedged instrument affects profit or loss, when the forecast transaction is executed or at the maturity date of the hedged item (see Note 37). &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Differences in the measurement of the hedgi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ng items corresponding to the ineffective portions of cash flow hedges are recognized directly in the heading &amp;#8220;Gains or losses from hedge accounting, net&amp;#8221; in the consolidated income statem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ent (see Note 41).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;In the hedges of net investments in foreign opera&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;tions, the differences attributable to the effective portions of hedging items are recognized temporarily under the heading &amp;quot;Accumulated other comprehensive income - Items that may be reclassified to profit or loss &amp;#8211; Hedging of net investments in foreign t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ransactions&amp;quot; in the consolidated balance sheets with a balancing entry under the heading &amp;#8220;Hedging derivatives&amp;#8221; of the Assets or Liabilities of the consolidated balance sheets as applicable. These differences in valuation are recognized under the heading &amp;#8220;E&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;xchange differences, net&amp;quot; in the consolidated income statement when the investment in a foreign operation is disposed of or derecognized (see Note 41).&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;Other financial instruments under IAS 39 applicable in the financial years 2017 and 2016&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;exceptions are applicable with respect to the above general criteria:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Equity instruments whose fair value cannot be determined in a sufficiently objective manner and financial derivatives that have those instruments as their underlying asset and are settle&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;d by delivery of those instruments are recorded in the consolidated balance sheet at acquisition cost; this may be adjusted, where appropriate, for any impairment loss (see Note 8).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Accumulated other comprehensive income arising from financial instruments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;classified at the consolidated balance sheet date as &amp;#8220;Non-current assets and disposal groups classified as held for sale&amp;#8221; are recognized with the corresponding entry under the heading &amp;#8220;Accumulated other comprehensive income- Items that may be reclassified &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;to profit or loss &amp;#8211; Non-current assets and disposal groups classified as held for sale&amp;#8221; in the accompanying consolidated balance sheets (see note 30).&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;Impairment losses on financial assets&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Definition of impaired financial assets under IFRS 9&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;IFRS 9 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;replaced the &amp;quot;incurred loss&amp;quot; model in IAS 39 with one of &amp;quot;expected credit loss&amp;quot;. The IFRS 9 impairment model is applied to financial assets valued at amortized cost and to financial assets valued at fair value with changes in accumulated other comprehensiv&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e income, except for investments in equity instruments and contracts for financial guarantees and loan commitments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;unilaterally revocable by BBVA. Likewise, all the financial instruments valued at fair value with change through profit and loss are excluded&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; from the impairment model&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The new standard classifies financial instruments into three categories, which depend on the evolution of their credit risk from the moment of initial recognition. The first category includes the transactions when they are initi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ally recognized (Stage 1); the second comprises the financial assets for which a significant increase in credit risk has been identified since its initial recognition (Stage 2) and the third one, the impaired financial assets (Stage 3).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The calculation of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the provisions for credit risk in each of these three categories must be done differently. In this way, expected loss up to 12 months for the financial assets classified in the first of the aforementioned categories must be recorded, while expected losses &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;estimated for the remaining life of the financial assets classified in the other two categories must be recorded. Thus, IFRS 9 differentiates between the following concepts of expected loss: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Expected loss at 12 months: expected credit loss that arises fro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;m possible default events within 12 months following the presentation date of the financial statements; and&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Expected loss during the life of the transaction: this is the expected credit loss that arises from all possible default events over the remaining l&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ife of the financial instrument.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;All this requires considerable judgment, both in the modeling for the estimation of the expected losses and in the forecasts, on how the economic factors affect such losses, which must be carried out on a weighted probabili&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ty basis. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group has applied the following definitions in accordance with IFRS 9:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Default&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA has applied a definition of default for financial instruments that is consistent with that used in internal credit risk management, as well as the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;indicators under applicable regulation at the date of implementation of IFRS 9. Both qualitative and quantitative indicators have been considered.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group has considered there is a default when one of the following situations occurs: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Payment &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;past-due fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;r more than 90 days; or&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;There are r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;easonable doubts regarding the full reimbursement of the instrument.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In accordance with IFRS 9, the 90-day past-due stipulation may be waived in cases where the entity considers it appropriate, based on reasonable and doc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;umented information that it is appropriate to use a longer term. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;As of December 31, 2018, the Group has not considered periods higher than 90 days for any of the significant portfolios. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Credit impaired asset&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;An asset is credit-impaired according to IFRS 9&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; if one or more events have occurred and they have a detrimental impact on the estimated future cash flows of the asset. Evidence that a financial asset is credit-impaired includes observable data about the following events:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Significant &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;financial&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; difficult&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;y of the issuer or the borrower.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;A breach &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;of contract (e.g. a default or past due event).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;A lender having granted a concession to the borrower &amp;#8211; for economic or contractual reasons relating to the borrower&amp;#8217;s financial difficulty &amp;#8211; that the lender would not&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; otherwise consider.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;It becoming probable that the borrower will enter bankruptcy or other financial reorganization.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The disappearance of an active market for that financial asset because of financial difficulties.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The purchase or origination of a financia&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;l asset at a deep discount that reflects the incurred credit losses.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;It may not be possible to identify a single discrete event. Instead, the combined effect of several events may cause financial assets to become credit-impaired.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The definition of impaired&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; financial assets in the Group is aligned with the definition of default explained in the above paragraphs.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Significant increase in credit risk &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The objective of the impairment requirements is to recognize lifetime expected credit losses for financial inst&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ruments for which there have been significant increases in credit risk since initial recognition considering all reasonable and supportable information, including that which is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;forward-looking.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The model developed by the Group for assessing the significant&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; increase in credit risk has a two-prong approach that is applied globally, although the specific characteristics of each geographic area are respected:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Quantitative criterion: the Group uses a quantitative analysis based on comparing the current expected &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;probability of default over the life of the transaction with the original adjusted expected probability of default, so that both values are comparable in terms of expected default probability for their residual life. The thresholds used for considering a s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ignificant increase in risk take into account special cases according to geographic areas and portfolios. Depending on how old current transactions are at the time implementation of the standard, some simplifications were made to compare the probabilities &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;of default between the current and the initial moment, based on the best information available at that moment.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Qualitative criterion: most indicators for detecting significant risk increase are included in the Group&amp;#39;s systems through rating/scoring systems&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; or macroeconomic scenarios, so the quantitative analysis covers the majority of circumstances. The Group will use additional qualitative criteria when&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; it considers it necessary to include circumstances that are not reflected in the rating/score systems or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; macroeconomic scenarios used. &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Additionally, instruments under one of the following circumstances are considered Stage 2:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;More than 30 days past due. According to IFRS 9, default of more than 30 days is a presumption that can &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;be rebutted in those cases in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; which the entity considers, based on reasonable and documented information, that such non-payment does not represent a significant increase in risk. As of December 31, 2018, the Group has not considered periods higher than 30 days for any of the significa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;nt portfolios.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Watch list: They are subject to special watch by the Risks units because they show negative signs in their credit quality, even though there may be no objective evidence of impairment.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Refinance or restructuring&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; that does not show evidence o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;f impairment.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Although the standard introduces a series of operational simplifications or practical solutions for analyzing the increase in significant risk, the Group does not use them as a general rule. However, for high-quality assets, mainly related t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;o certain government institutions and bodies, the standard allows for considering that their credit risk has not increased significantly because they have a low credit risk at the presentation date.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Thus the classification of financial instruments subject &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;to impairment under the new IFRS 9 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#365F91;' &gt;Stage 1&amp;#8211; without significant increase in credit risk&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Financial assets which are not considered to have significantly increased in credit risk have loss allowances measured at an amount equal to 12 months ex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;pected credit losses. &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#365F91;' &gt;Stage 2&amp;#8211; significant increases in credit risk&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;When the credit risk of a financial asset has increased significantly since the initial recognition, the impairment losses of that financial instrument is calculated as the expected &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;credit loss during the entire life of the asset.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#365F91;' &gt;Stage 3 &amp;#8211; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#365F91;' &gt;Impaired&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;When there is objective evidence that the instrument is credit impaired, the financial asset is transferred to this category &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in which the provision for losses of that financial instrument &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;is calculated as the expected credit loss &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;during the entire life of the asset.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Definition of impaired financial assets under IAS 39 applicable in the financial years 2017 and 2016&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;A financial asset is considered impaired &amp;#8211; and therefore its carrying amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; is adjusted to reflect the effect of impairment &amp;#8211; when there is objective evidence that events have occurred, which:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;In the case of debt instruments (loans and advances and debt securities), reduce the future cash flows that were estimated at the time the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; instruments were acquired. So they are considered impaired when there are reasonable doubts that the carrying amounts will be recovered in full and/or the related interest will be collected for the amounts and on the dates initially agreed.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;In the case of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; equity instruments, it means that their carrying amount may not be fully recovered.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As a general rule, the carrying amount of impaired financial assets is adjusted with a charge to the consolidated income statement for the year in which the impairment bec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;omes known. The recoveries of previously recognized impairment losses are reflected, if appropriate, in the consolidated income statement for the year in which the impairment is reversed or reduced, with an exception: any recovery of previously recognized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;impairment losses for an investment in an equity instrument classified as financial assets at fair value through other comprehensive income is not recognized in the consolidated income statement, but under the heading &amp;quot; Accumulated other comprehensive inco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;me - Items that may be reclassified to profit or loss - financial assets at fair value through other comprehensive income&amp;quot; in the consolidated balance sheet (see Note 30).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In general, amounts collected on impaired loans and receivables are used to recogniz&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e the related accrued interest and any excess amount is used to reduce the unpaid principal. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;When the recovery of any recognized amount is considered remote, such amount is written-off on the consolidated balance sheet, without prejudice to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; any actions that may be taken in order to collect the amount until the rights extinguish in full either because it is time-barred debt, the debt is forgiven, or other reasons.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;Method for calculating expected credit loss under IFRS 9&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#004580;' &gt;Method for calculatin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#004580;' &gt;g expected loss&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In accordance with IFRS 9, the measurement of expected losses must reflect:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;A considered and unbiased amount, determined by evaluating a range of possible results.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The time value of money.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Reasonable and supportable information that is available without undue cost or effort and that reflects current conditions and forecasts of future economic conditions. &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group measures the expected losses both individually and collectively. The purpose &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of the Group&amp;#39;s individual measurement is to estimate expected losses for significant impaired instruments, or instruments classified in Stage 2. In these cases, the amount of credit losses is calculated as the difference between expected discounted cash fl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ows at the effective interest rate of the transaction and the carrying amount of the instrument. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;For the collective measurement of expected losses the instruments are grouped into groups of assets based on their risk characteristics. Exposure within each &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;group is segmented according to the common credit risk characteristics, similar characteristics of the credit risk, indicative of the payment capacity of the borrower in accordance with their contractual conditions. These risk characteristics have to be re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;levant in estimating the future flows of each group. The characteristics of credit risk may consider, among others, the following factors:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Type of instrument.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Rating or scoring tools.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Credit risk scoring or rating.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Type of collateral.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Amount of time at def&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ault for stage 3.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Segment.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Qualitative criteria which can have a significant increase in risk.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Collateral value if it has an impact on the probability of a default event.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The estimated losses are derived from the following parameters:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;PD: estimate of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;probability of default in each period.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;EAD: estimate of the exposure in case of default at each future period, taking into account the changes in exposure after the presentation date of the financial statements. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;LGD: estimate of the loss in case of defaul&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;t, calculated as the difference between the contractual cash flows and receivables, including guarantees. &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the case of debt securities, the Group supervises the changes in credit risk through monitoring the external published credit ratings.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;To determin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e whether there is a significant increase in credit risk that is not reflected in the published ratings, the Group also revises the changes in bond yields, and when they are available, the prices of CDS, together with the news and regulatory information av&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ailable on the issuers.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#004580;' &gt;Use of present, past and future information&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;IFRS 9 requires incorporation of present, past and future information to detect any significant increase in risk and measure expected loss.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The standard does not require identification of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; all possible scenarios for measuring expected loss. However, the probability of a loss event occurring and the probability it will not occur have to be considered, even though the possibility of a loss may be very small. Also, when there is no linear rela&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tion between the different future economic scenarios and their associated expected losses, more than one future economic scenario must be used for the measurement. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The approach used by the Group consists of using first the most probable scenario (baseline&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; scenario) consistent with that used in the Group&amp;#39;s internal management processes, and then applying an additional adjustment, calculated by considering the weighted average of expected losses in other economic scenarios (one more positive and the other mo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;re negative). The main macroeconomic variables that are valued in each of the scenarios for each of the geographies in which the Group operates are Gross Domestic Product (GDP), tax rates, unemployment rate and loan to value (LTV).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;Method for calculating t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#094FA4;' &gt;he impairment on financial assets under IAS 39 applicable in the financial years 2017 and 2016&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The impairment on financial assets is determined by type of instrument and other circumstances that could affect it, taking into account the guarantees received &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;to assure (in part or in full) the performance of the financial assets. The BBVA Group recognizes impairment charges directly against the impaired financial asset when the likelihood of recovery is deemed remote, and uses an offsetting or allowance account&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; when it recognizes non-performing loan provisions for the estimated losses.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Impairment of debt instruments measured at amortized cost&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With regard to impairment losses arising from insolvency risk of the obligors (credit risk), a debt instrument, mainly Lo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ans and receivables, is impaired due to insolvency when a deterioration in the ability to pay by the obligor is evidenced, either due to past due status or for other reasons.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group has developed policies, methods and procedures to estimate incurre&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;d losses on outstanding credit risk. These policies, methods and procedures are applied in the due diligence, approval and execution of debt instruments and commitments and guarantees given; as well as in identifying the impairment and, where appropriate, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in calculating the amounts necessary to cover estimated losses.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amount of impairment losses on debt instruments measured at amortized cost is calculated based on whether the impairment losses are determined individually or collectively. First it is det&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ermined whether there is objective evidence of impairment individually for individually significant debt instrument, and collectively for debt instrument that are not individually significant. If the Group determines that there is no objective evidence of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;impairment, the assets are classified in groups of debt instrument based on similar risk characteristics and impairment is assessed collectively.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In determining whether there is objective evidence of impairment the Group uses observable data in the followi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ng aspects:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Significant financial difficulties of the obligors.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Ongoing delays in the payment of interest or principal.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Refinancing of credit due to financial difficulties by the counterparty.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Bankruptcy or reorganization / liquidation are considered &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;likely.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Disappearance of the active market for a financial asset because of financial difficulties.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Observable data indicating a reduction in future cash flows from the initial recognition such as adverse changes in the payment status of the counterparty (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;delays in payments, reaching credit cards limits, etc.).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;National or local economic conditions that are linked to &amp;quot;defaults&amp;quot; in the financial assets (unemployment rate, falling property prices, etc.).&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Impairment&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#006EC1;' &gt; losses on financial assets individually evaluated for impairment&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amount of the impairment losses incurred on financial assets represents the excess of their respective carrying amounts over the present values of their expected future cash flows. These&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; cash flows are discounted using the original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective rate determined under the contract.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As an exception to th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e rule described above, the market value of listed debt instruments is deemed to be a fair estimate of the present value of their expected future cash flows.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following is to be taken into consideration when estimating the future cash flows of debt inst&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ruments:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;All amounts that are expected to be recovered over the remaining life of the debt instrument; including, where appropriate, those which may result from the collateral and other credit enhancements provided for the debt instrument (after deducting &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the costs required for foreclosure and subsequent sale). Impairment losses include an estimate for the possibility of collecting accrued, past-due and uncollected interest.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The various types of risk to which each debt instrument is subject.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The circumstanc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;es in which collections will foreseeably be made.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Impairment losses on financial assets collectively evaluated for impairment&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With regard to the collective impairment analysis, financial assets are grouped by risk type considering the debtor&amp;#39;s capacity to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;pay based on the contractual terms. As part of this analysis, the BBVA Group estimates the impairment loan losses that are not individually significant, distinguishing between those that show objective evidence of impairment, and those that do not show obj&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ective evidence of impairment, as well as the impairment of significant loans that the BBVA Group has deemed as not showing an objective evidence of impairment.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With respect to financial assets that have no objective evidence of impairment, the Group appli&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;es statistical methods using historical experience and other specific information to estimate the losses that the Group has incurred as a result of events that have occurred as of the date of preparation of the Consolidated Financial Statements but have no&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t been known and will be apparent, individually after the date of submission of the information. This calculation is an intermediate step until these losses are identified on an individual level, at which time these financial instruments will be segregated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; from the portfolio of financial assets without objective evidence of impairment.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The incurred loss is calculated taking into account three key factors: exposure at default, probability of default and loss given default.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Exposure at default (EAD) is the am&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ount of risk exposure at the date of default by the counterparty.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Probability of default (PD) is the probability of the counterparty failing to meet its principal and/or interest payment obligations. The PD is associated with the rating/scoring of each cou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;nterparty/transaction. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Loss given default (LGD) is the estimate of the loss arising in the event of default. It depends mainly on the characteristics of the counterparty, and the valuation of the guarantees or collateral associated with the asset.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In orde&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;r to calculate the LGD at each balance sheet date, the Group evaluates the whole amount expected to be obtained over the remaining life of the financial asset. The recoverable amount from executable secured &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;collateral is estimated based on the property val&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;uation, discounting the necessary adjustments to adequately account for the potential fall in value until its execution and sale, as well as execution costs, maintenance costs and sale costs.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, to identify the possible incurred but not reported &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;losses (IBNR) in the unimpaired portfolio, an additional parameter called &amp;quot;LIP&amp;quot; (loss identification period) has to be introduced. The LIP parameter is the period between the time at which the event that generates a given loss occurs and the time when the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;loss is identified at an individual level. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;When the property right is contractually acquired at the end of the foreclosure process or when the assets of distressed borrowers are purchased, the asset is recognized in the consolidated balance sheets (see No&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;te 2.2.4).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Impairment of other debt instruments classified as financial assets available for sale&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The impairment losses on other debt instruments included in the &amp;#8220;Available-for-sale financial asset&amp;#8221; portfolio are equal to the excess of their acquisition co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;st (net of any principal repayment), after deducting any impairment loss previously recognized in the consolidated income statement over their fair value.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;When there is objective evidence that the negative differences arising on measurement of these debt i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nstruments are due to impairment, they are no longer considered as &amp;#8220;Accumulated other comprehensive income - Items that may be reclassified to profit or loss - financial assets at fair value through other comprehensive income&amp;#8221; and are recognized in the con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;solidated income statement. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;If all, or part of the impairment losses are subsequently recovered, the amount is recognized in the consolidated income statement for the year in which the recovery occurred, up to the amount previously recognized in the incom&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e statement.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Impairment of equity instruments&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amount of the impairment in the equity instruments is determined by the category where they are recognized:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-style:italic;color:#000000;' &gt;Equity instruments classified at available for sale at fair value:&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;When there is objective &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;evidence that the negative differences arising on measurement of these equity instruments are due to impairment, they are no longer recorded as &amp;#8220;Accumulated other comprehensive income - Items that may be reclassified to profit or loss - Financial assets av&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ailable for sale&amp;#8221; and are recognized in the consolidated income statement. In general, the Group considers that there is objective evidence of impairment on equity instruments classified as available-for-sale when significant unrealized losses have existed&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; over a sustained period of time due to a price reduction of at least 40% or over a period of more than 18 months. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;When applying this evidence of impairment, the Group takes into account the volatility in the price of each individual equity instrument to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;determine whether it is a percentage that can be recovered through its sale in the market; other different thresholds may exist for certain equity instruments or specific sectors. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;In addition, for individually significant investments, the Group compares t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;he valuation of the most significant equity instruments against valuations performed by independent experts.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Any recovery of previously recognized impairment losses for an investment in an equity instrument classified at fair value through other comprehens&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ive income is not recognized in the consolidated income statement, but under the heading &amp;quot; Accumulated other comprehensive income - Items that may be reclassified to profit or loss - financial assets available for sale&amp;quot; in the consolidated balance sheet (s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ee Note 30).&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-style:italic;color:#000000;' &gt;Equity instruments measured at cost:&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;The impairment losses on equity instruments measured at acquisition cost are equal to the excess of their carrying amount over the present value of expected future cash flows discounted at the market rate o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;f return for similar equity instruments. In order to determine these impairment losses, unless there is better evidence, an assessment of the equity of the investee is carried out (excluding Accumulated other comprehensive &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;income due to cash flow hedges) b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ased on the last approved (consolidated) balance sheet, adjusted by the unrealized gains at measurement date.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Impairment losses are recognized in the consolidated income statement in the year in which they arise as a direct reduction of the cost of the ins&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;trument. These impairment losses may only be recovered subsequently in the event of the sale of these assets.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.2   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Transfers and derecognition of financial assets and liabilities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The accounting treatment of transfers of financial assets is determined b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;y the form in which risks and benefits associated with the financial assets involved are transferred to third parties. Thus the financial assets are only derecognized from the consolidated balance sheet when the cash flows that they generate are extinguish&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ed, when their implicit risks and benefits have been substantially transferred to third parties or when the control of financial asset is transferred even in case of no physical transfer or substantial retention of such assets. In the latter case, the fina&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ncial asset transferred is derecognized from the consolidated balance sheet, and any right or obligation retained or created as a result of the transfer is simultaneously recognized.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Similarly, financial liabilities are derecognized from the consolidated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;balance sheet only if their obligations are extinguished or acquired (with a view to subsequent cancellation or renewed placement).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group is considered to have transferred substantially all the risks and benefits if such risks and benefits account for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the majority of the risks and benefits involved in ownership of the transferred financial assets. If substantially all the risks and benefits associated with the transferred financial asset are retained:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The transferred financial asset is not derecognized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;from the consolidated balance sheet and continues to be measured using the same criteria as those used before the transfer.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;A financial liability is recognized at the amount equal to the amount received, which is subsequently measured at amortized cost or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;fair value with changes in the income statement, whichever the case.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Both the income generated on the transferred (but not derecognized) financial asset and the expenses of the new financial liability continue to be recognized.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.3   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Financial guarantees&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Financial guarantees are considered to be those contracts that require their issuer to make specific payments to reimburse the holder of the financial guarantee for a loss incurred when a specific borrower breaches its payment obligations on the terms &amp;#8211; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;whether original or subsequently modified &amp;#8211; of a debt instrument, irrespective of the legal form it may take. Financial guarantees may take the form of a deposit, bank guarantee, insurance contract or credit derivative, among others.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In their initial recog&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nition, financial guarantees are recognized as liabilities in the consolidated balance sheet at fair value, which is generally the present value of the fees, commissions and interest receivable from these contracts over the term thereof, and the Group simu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ltaneously recognize a corresponding asset in the consolidated balance sheet for the amount of the fees and commissions received at the inception of the transactions and the amounts receivable at the present value of the fees, commissions and interest outs&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tanding.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Financial guarantees, irrespective of the guarantor, instrumentation or other circumstances, are reviewed periodically so as to determine the credit risk to which they are exposed and, if appropriate, to consider whether a provision is required f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;or them. The credit risk is determined by application of criteria similar to those established for quantifying impairment losses on debt instruments measured at amortized cost (see Note 2.2.1).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The provisions recognized for financial guarantees considered &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;impaired are recognized under the heading &amp;#8220;Provisions - Provisions for contingent risks and commitments&amp;#8221; on the liability side in the consolidated balance sheets (see Note 24). These provisions are recognized and reversed with a charge or credit, respectiv&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ely; to &amp;#8220;Provisions or reversal of provision&amp;#8221; in the consolidated income statements (see Note 46).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Income from financial guarantees is recorded under the heading &amp;#8220;Fee and commission income&amp;#8221; in the consolidated income statement and is calculated by applying&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the rate established in the related contract to the nominal amount of the guarantee (see Note 40).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.4   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Non-current assets and disposal groups held for sale and liabilities included in disposal groups classified as held for sale &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;and Liabilities include&lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;d in disposal groups classified as held for sale&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The headings &amp;#8220;Non-current assets and disposal groups held for sale&amp;#8221; and &amp;#8220;Liabilities included in disposal groups classified as held for sale&amp;#8221; in the consolidated balance sheets includes the carrying amount o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;f assets that are not part of the BBVA Group&amp;#8217;s operating activities. The recovery of this carrying amount is expected to take place through the price obtained on its disposal (see Note 21).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These headings include individual items and groups of items (&amp;#8220;disp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;osal groups&amp;#8221;) and disposal groups that form part of a major operating segment and are being held for sale as part of a disposal plan (&amp;#8220;discontinued operations&amp;#8221;). The heading &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#8220;Non-current assets and disposal groups held for sale&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; include the assets received&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; by the subsidiaries from their debtors, in full or partial settlement of the debtors&amp;#8217; payment obligations (assets foreclosed or received in payment of debt and recovery of lease finance transactions), unless the Group has decided to make continued use of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;these assets. The BBVA Group has units that specialize in real estate management and the sale of this type of asset.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Symmetrically, the heading &amp;#8220;Liabilities included in disposal groups classified as held for sale&amp;#8221; in the consolidated balance sheets reflect&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s the balances payable arising from disposal grou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ps and discontinued operations.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Non-current assets and disposal groups classified as held for sale are generally measured, at the acquisition date and at any later date deemed necessary, at either their carr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ying amount or the fair value of the property (less costs to sell), whichever is lower.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the case of real estate assets foreclosed or received in payment of debts, they are initially recognized at the lower of: the restated carrying amount of the financi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;al asset and the fair value at the time of the foreclosure or receipt of the asset less estimated sales costs. The carrying amount of the financial asset is updated at the time of the foreclosure, treating the real property received as a secured collateral&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and taking into account the credit risk coverage that would correspond to it according to its classification prior to the delivery. For these purposes, the collateral will be valued at its current fair value (less sale costs) at the time of foreclosure. T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;his carrying amount will be compared with the previous carrying amount and the difference will be recognized as a provision increase, if applicable. On the other hand, the fair value of the foreclosed asset is obtained by appraisal, evaluating the need to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;apply a discount on the asset derived from the specific conditions of the asset or the market situation for these assets, and in any case, deducting the company&amp;#8217;s estimated sale costs.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;At the time of the initial recognition, these real estate assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;foreclosed or received in payment of debts, classified as &amp;#8220;Non-current assets and disposal groups held for sale&amp;#8221; and &amp;#8220;Liabilities included in disposal groups classified as held for sale&amp;#8221; are valued at the lower of: their restated fair value less estimated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sale costs and their carrying amount; a deterioration or impairment reversal can be recognized for the difference if applicable.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Non-current assets and disposal groups held for sale groups classified as held for sale are not depreciated while included unde&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;r the heading &amp;#8220;Non-current assets and disposal groups held for sale&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Fair value of non-current assets held for sale from foreclosures or recoveries is based, mainly, in appraisals or valuations made by independent experts&amp;#160;on an annual basis or more freque&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ntly, should there be indicators of impairment. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Gains and losses generated on the disposal of assets and liabilities classified as non-current held for sale, and liabilities included in disposal groups classified as held for sale as well as impairment los&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ses and, where pertinent, the related recoveries, are recognized in &amp;#8220;Profit or loss from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations&amp;#8221; in the consolidated income statement (see Note 50). The r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;emaining income and expense items associated with these assets and liabilities are classified within the relevant consolidated income statement headings.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Income and expenses for discontinued &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;operations, whatever their nature, generated during the year, even if they have occurred before their classification as discontinued operations, are presented net of the tax effect as a single amount under the heading &amp;#8220;Profit from discontinued operations&amp;#8221; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in the consolidated income statement, whether the business remains on the consolidated balance sheet or is derecognized from the consolidated balance sheet. As long as an asset remains in this category, it will not be amortized. This heading includes the e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;arnings from their sale or other disposal.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.5   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Tangible assets&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Property, plant and equipment for own use&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This heading includes the assets under ownership or acquired under finance lease, intended for future or current use by the BBVA Group and that it &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;expects to hold for more than one year. It also includes tangible assets received by the consolidated entities in full or partial settlement of financial assets representing receivables from third parties and those assets expected to be held for continuing&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; use.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Property, plant and equipment for own use are presented in the consolidated balance sheets at acquisition cost, less any accumulated depreciation and, where appropriate, any estimated impairment losses resulting from comparing this net carrying amoun&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t of each item with its corresponding recoverable amount (see Note 17).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Depreciation is calculated using the straight-line method, on the basis of the acquisition cost of the assets less their residual value; the land is considered to have an indefinite li&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;fe and is therefore not depreciated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The tangible asset depreciation charges are recognized in the accompanying consolidated income statements under the heading &amp;quot;Depreciation and Amortization&amp;quot; (see Note 45) and are based on the application of the following&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; depreciation rates (determined on the basis of the average years of estimated usef&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ul life of the various assets):&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Depreciation Rates for Tangible Assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:432.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Type of Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Annual Percentage&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Buildings for own use&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1% - 4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Furniture&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8% - 10%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fixtures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6% - 12%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Office supplies and hardware&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8% - 25%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;At each reporting date, the Group entities analyze whether there are internal or external indicators that a tangible&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; asset may be impaired. When there is evidence of impairment, the Group analyzes whether this impairment actually exists by comparing the asset&amp;#8217;s net carrying amount with its recoverable amount (as the higher between its recoverable amount less disposal co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sts and its value in use). When the carrying amount &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;exceeds the recoverable amount, the carrying amount is written down to the recoverable amount and depreciation charges going forward are adjusted to reflect the asset&amp;#8217;s remaining useful life.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Similarly, i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;f there is any indication that the value of a tangible asset is now recoverable, the consolidated entities will estimate the recoverable amounts of the asset and recognize it in the consolidated income statement, recording the reversal of the impairment lo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ss recognized in previous years and thus adjusting future depreciation charges. Under no circumstances may the reversal of an impairment loss on an asset raise its carrying amount above that which it would have if no impairment losses had been recognized i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n prior years.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the BBVA Group, most of the buildings held for own use are assigned to the different Cash-Generating-Units (CGU) to which they belong. The corresponding impairment analysis are performed for these CGUs to check whether sufficient cash flo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ws are generated to support the value of the assets comprised within.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Running and maintenance expenses relating to tangible assets held for own use are recognized as an expense in the year they are incurred and recognized in the consolidated income stateme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nts under the heading &amp;quot;Administration costs - Other administrative expenses - Property, fixtures and equipment&amp;quot; (see Note 44.2).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Other assets leased out under an operating lease&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The criteria used to recognize the acquisition cost of assets leased out under operating leases, to calculate their depreciation and their respective estimated useful lives and to recognize the impairment losses on them, are the same as those described in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;relation to tangible assets for own use.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Investment properties&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The heading &amp;#8220;Tangible assets - Investment properties&amp;#8221; in the consolidated balance sheets reflects the net values (purchase cost minus the corresponding accumulated depreciation and, if appropri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ate, estimated impairment losses) of the land, buildings and other structures that are held either to earn rentals or for capital appreciation through sale and that are neither expected to be sold off in the ordinary course of business nor are destined for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; own use (see Note 17).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The criteria used to recognize the acquisition cost of investment properties, calculate their depreciation and their respective estimated useful lives and recognize the impairment losses on them, are the same as those described in r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;elation to tangible assets held for own use.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group determines periodically the fair value of its investment properties in such a way that, at the end of the financial year, the fair value reflects the market conditions of investment property asset&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s&amp;#8217; market at this date. This fair value will be determined taking as references the valuations performed by independent experts.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.6   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Inventories&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The balance under the heading &amp;#8220;Other assets - Inventories&amp;#8221; in the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; consolidated balance sheets mainly includes the land and other properties that the BBVA Group&amp;#8217;s real estate entities hold for development and sale as part of their real estate development activities (see Note 20).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The cost of inventories includes those co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sts incurred in their acquisition and development, as well as other direct and indirect costs incurred in getting them to their current condition and location.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the case of the cost of real estate assets accounted for as inventories, the cost is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;comprised of: the acquisition cost of the land, the cost of urban planning and construction, non-recoverable taxes and costs corresponding to construction supervision, coordination and management. Financing cost incurred during the year form part of cost, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;provided that the inventories require more than a year to be in a condition to be sold.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Properties purchased from customers in distress, which the Group manages for sale, are measured at the acquisition date and any subsequent time, at either their related&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; carrying amount or the fair value of the property (less costs to sell), whichever is lower. The carrying amount at acquisition date of these properties is defined as the balance pending collection on those assets that originated said purchases (net of pro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;visions).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Impairment&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amount of any subsequent adjustment due to inventory valuation for reasons such as damage, obsolescence, reduction in sale price to its net realizable value, as well as losses for other reasons and, if appropriate, subsequent recov&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;eries of value up to the limit of the initial cost value, are recognized under the heading &amp;quot;Impairment or reversal of impairment on non-financial assets&amp;#8221; in the accompanying consolidated income statements (see Note 48) for the year in which they are incurr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ed.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the case of the above mentioned real-estate assets, if the fair value less costs to sell is lower than the carrying amount of the loan recognized in the consolidated balance sheet, a loss is recognized under the heading &amp;quot;Impairment or reversal of im&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;pairment on non-financial assets&amp;quot; in the consolidated income statement for the year. In the case of real-estate assets accounted for as inventories, the BBVA Group&amp;#8217;s criterion for determining their net realizable value is mainly based on independent apprai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sals no more than one year old, or less if there are indications of impairment.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Inventory sales&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In sale transactions, the carrying amount of inventories is derecognized from the consolidated balance sheet and recognized as an expense under the income state&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ment heading &amp;quot;Other operating expenses &amp;#8211; Changes in inventories&amp;#8221; in the year in which the income from its sale is recognized. This income is recognized under the heading &amp;#8220;Other operating income &amp;#8211; Financial income from non-financial services&amp;#8221; in the consoli&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;dated income statements (see Note 42).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.7   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Business combinations&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;A business combination is a transaction, or any other deal, by which the Group obtains control of one or more businesses. It is accounted for by applying the acquisition method.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;According&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; to this method, the acquirer has to recognize the assets acquired and the liabilities and contingent liabilities assumed, including those that the acquired entity had not recognized in the accounts. The method involves the measurement of the consideration&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; received for the business combination and its allocation to the assets, liabilities and contingent liabilities measured according to their fair value, at the purchase date, as well as the recognition of any non-controlling participation (minority interest&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s) that may arise from the transaction.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In a business combination achieved in stages, the acquirer shall remeasure its previously held equity interest in the acquiree at its acquisition-date fair value and recognize the resulting gain or loss, if any, in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;profit or loss under the heading &amp;#8220;Gains (losses) on derecognition of non-financial assets and subsidiaries, net&amp;#8221; of the consolidated income statements. In prior reporting periods, the acquirer may have recognized changes in the value of its equity interest&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; in the acquiree in other comprehensive income. If so, the amount that was recognized in other comprehensive income shall be recognized on the same basis as would be required if the acquirer had disposed directly of the previously held equity interest.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;addition, the acquirer shall recognize an asset in the consolidated balance sheet under the heading &amp;#8220;Intangible asset - Goodwill&amp;#8221; if on the acquisition date there is a positive difference between:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the sum of the consideration transferred, the amount of all&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; the non-controlling interests and the fair value of stock previously held in the acquired business; and &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the net fair value of the assets acquired and liabilities assumed.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;If this difference is negative, it shall be recognized directly in the income state&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ment under the heading &amp;#8220;Negative goodwill recognized in profit or loss&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Non-controlling interests in the acquired entity may be measured in two ways: either at their fair value; or at the proportional percentage of net assets identified in the acquired &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;entity. The method of valuing non-controlling interest may be elected in each business combination. BBVA Group has always elected for the second method.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.8   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Intangible assets&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Goodwill&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Goodwill represents a portion of consideration transferred in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;advance by the acquiring entity for the future economic benefits from assets that cannot be individually identified and separately recognized. Goodwill is never amortized. It is subject periodically to an impairment analysis, and is written off if there ha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s been impairment (see Note 18).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Goodwill is assigned to one or more cash-generating units that expect to be the beneficiaries of the synergies derived from the business combinations. The cash-generating units represent the Group&amp;#8217;s smallest identifiable as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;set groups that generate cash flows for the Group and that are largely independent of the flows generated from the Group&amp;#8217;s other assets or groups of assets. Each unit or units to which goodwill is allocated:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Is the lowest level at which the entity manages &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;goodwill internally.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Is not larger than an operating segment.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The cash-generating units to which goodwill has been allocated are tested for impairment (including the allocated goodwill in their carrying amount). This analysis is performed at least annually&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; or more frequently if there is any indication of impairment.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;For the purpose of determining the impairment of a cash-generating unit to which a part of goodwill has been allocated, the carrying amount of that cash-generating unit, adjusted by the theoreti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;cal amount of the goodwill attributable to the non-controlling interests, in the event they are not valued at fair value, is compar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ed with its recoverable amount.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The recoverable amount of a cash-generating unit is equal to the fair value less sale costs &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;or its value in use, whichever is greater. Value in use is calculated as the discounted value of the cash flow projections that the unit&amp;#8217;s management estimates and is based on the latest budgets approved for the coming years. The main assumptions used in i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ts calculation are: a sustainable growth rate to extrapolate the cash flows indefinitely, and the discount rate used to discount the cash flows, which is equal to the cost of the capital assigned to each cash-generating unit, and equivalent to the sum of t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he risk-free rate plus a risk premium inherent to the cash-generating unit being evaluated for impairment.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;If the carrying amount of the cash-generating unit exceeds the related recoverable amount, the Group recognizes an impairment loss; the resulting los&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s is apportioned by reducing, first, the carrying amount of the goodwill allocated to that unit and, second, if there are still impairment losses remaining to be recognized, the carrying amount of the remainder of the assets. This is done by allocating the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; remaining loss in proportion to the carrying amount of each of the assets in the unit. In the event the non-controlling interests are measured at fair value, the deterioration of goodwill attributable to non-controlling interests will be recognized. In an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;y case, an impairment loss recognized for goodwill shall not be reversed in a subsequent period.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Goodwill impairment losses are recognized under the heading &amp;quot;Impairment or reversal of impairment on non-financial assets &amp;#8211; Intangible assets&amp;#8221; in the consolida&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ted income statements (see Note 48).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Other intangible assets&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These assets may have an indefinite useful life if, based on an analysis of all relevant factors, it is concluded that there is no foreseeable limit to the period over which the asset is expected&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; to generate net cash flows for the consolidated entities. In all other cases they have a finite useful life (see Note 18).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Intangible assets with a finite useful life are amortized according to the duration of this useful life, using methods similar to th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ose used to depreciate tangible assets. The defined useful life intangible asset is made up mainly of IT applications acquisition costs which have a useful life of 3 to 5 years. The depreciation charge of these assets is recognized in the accompanying cons&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;olidated income statements under the heading &amp;quot;Depreciation and amortization&amp;quot; (see Note 45).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#222222;' &gt;The consolidated entities recognize any impairment loss on the carrying amount of these assets with charge to the heading &amp;#8220;Impairment or reversal of impairment on n&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#222222;' &gt;on - financial assets- Intangible assets&amp;#8221; in the accompanying consolidated income statements (see Note 48). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The criteria used to recognize the impairment losses on these assets and, where applicable, the recovery of impairment losses recognized in prior &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;years, are similar to those used for tangible assets.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.9   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Insurance and reinsurance contracts&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The assets and liabilities of the BBVA Group&amp;#8217;s insurance subsidiaries are recognized according to their nature under the corresponding headings of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;consolidated balance sheets, and the initial recognition and valuation is carried out according to the criteria set out in IFRS 4.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The heading &amp;#8220;Insurance and reinsurance assets&amp;#8221; in the accompanying consolidated balance sheets includes the amounts that the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;consolidated insurance subsidiaries are entitled to receive under the reinsurance contracts entered into by them with third parties and, more specifically, the reinsurer&amp;#180;s share of the technical provisions recognized by the consolidated insurance subsidiar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ies.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The heading &amp;#8220;Liabilities under insurance and reinsurance contracts&amp;#8221; in the accompanying consolidated balance sheets includes the technical provisions for direct insurance and inward reinsurance recognized by the consolidated insurance subsidiaries to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;cover claims arising from insurance contracts open at period-end (see Note 23).&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The income or expenses reported by the BBVA Group&amp;#8217;s consolidated insurance subsidiaries on their insurance activities is recognized, in accordance with their nature, in the co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rresponding items of the consolidated income statements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The consolidated insurance entities of the BBVA Group recognize the amounts of the premiums written and a charge for the estimated cost of the claims that will be incurred at their final settlement t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;o their consolidated income statements. At the close of each year the amounts collected and unearned, as well as the costs incurred and unpaid, are accrued.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The most significant provisions recorded by consolidated insurance entities with respect to insuran&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ce policies issued by them are set out by their nature in Note 23.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;According to the type of product, the provisions may be as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Life insurance provisions:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Represents the value of the net obligations undertaken with the life insurance policyholder. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;These provisions include:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:12pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Provisions for unearned premiums. These are intended for the accrual, at the date of calculation, of the premiums written. Their balance reflects the portion of the premiums received until the closing date that has to be allocated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; to the period from year-end to the end of the insurance policy period.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:12pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Mathematical&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; reserves: Represents the value of the life insurance obligations of the insurance entities at year-end, net of the policyholder&amp;#8217;s obligations, arising from life insurance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;contracted.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Non-life insurance provisions:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:12pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Provisions for unearned premiums. These provisions are intended for the accrual, at the date of calculation, of the premiums written. Their balance reflects the portion of the premiums received until the closing d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ate that has to be allocated to the period between the year-end and the end of the policy period.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:12pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Provisions for unexpired risks: The provision for unexpired risks supplements the provision for unearned premiums by the amount by which that provision is not&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; sufficient to reflect the assessed risks and expenses to be covered by the consolidated insurance subsidiaries in the policy period not elapsed at year-end.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Provision for claims:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;This reflects the total amount of the outstanding obligations arising from &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;laims incurred prior to year-end. Insurance subsidiaries calculate this&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;provision as the difference between the total estimated or certain cost of the claims not yet reported, settled or paid, and the total amounts already paid in relation to these claims.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Provision for bonuses and rebates:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;This provision includes the amount of the bonuses &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;accruing to policyholders, insurees or beneficiaries and the premiums to be returned to policyholders or insurees, as the case may be, based on the behavior of the risk &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;insured, to the extent that such amounts have not been individually assigned to each of them.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Technical provisions for reinsurance ceded:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;Calculated by applying the criteria indicated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;above for direct insurance, taking account of the assignment conditions &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;established in the open reinsurance contracts.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Other technical provisions:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;Insurance entities have recognized provisions to cover the probable &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;mismatches in the market reinvestment interest rates with respect to those used in the valuation of the technical&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; provisions.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group controls and monitors the exposure of the insurance subsidiaries to financial risk and, to this end, uses internal methods and tools that enable it to measure credit risk and market risk and to establish the limits for these &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;risks.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.10   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Tax assets and liabilities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Expenses on corporate income tax applicable to the BBVA Group&amp;#8217;s Spanish entities and on similar income taxes applicable to consolidated foreign entities are recognized in the consolidated income statement, except &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;when they result from transactions on which the profits or losses are recognized directly in equity, in which case the related tax effect is also recognized in equity. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The total corporate income tax expense is calculated by aggregating the current tax ari&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sing from the application of the corresponding tax rate as per the tax base for the year (after deducting the tax credits or discounts allowable for tax purposes) and the change in deferred tax assets and liabilities recognized in the consolidated income s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tatement.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Deferred tax assets and liabilities include temporary differences, defined as the amounts to be payable or recoverable in future years arising from the differences between the carrying amount of assets and liabilities and their tax bases (the &amp;#8220;ta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;x value&amp;#8221;), and tax loss and tax credit or discount carry forwards (see Note 19).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The &amp;quot;Tax Assets&amp;quot; line item in the accompanying consolidated balance sheets includes the amount of all the assets of a tax nature, broken down into: &amp;quot;Current&amp;#8221; (amounts of tax r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ecoverable in the next twelve months) and &amp;quot;Deferred&amp;quot; (which includes the amount of tax to be recovered in future years, including those arising from tax losses or credits for deductions or rebates that can be compensated). The &amp;quot;Tax Liabilities&amp;quot; line item i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n the accompanying consolidated balance sheets includes the amount of all the liabilities of a tax nature, except for provisions for taxes, broken down into: &amp;quot;Current&amp;#8221; (income tax payable on taxable profit for the year and other taxes payable in the next t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;welve months) and &amp;quot;Deferred&amp;quot; (the amount of corporate tax payable in subsequent years).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Deferred tax liabilities attributable to taxable temporary differences associated with investments in subsidiaries, associates or joint venture entities are recognized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;as such, except where the Group can control the timing of the reversal of the temporary difference and it is unlikely that it will reverse in the future. Deferred tax assets are recognized to the extent that it is considered probable that the consolidated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;entities will have sufficient taxable profits in the future against which the deferred tax assets can be utilized and are not from the initial recognition (except in the case of a business combination) of other assets or liabilities in a transaction that d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;oes not affect the fiscal outcome or the accounting result.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The deferred tax assets and liabilities recognized are reassessed by the consolidated entities at each balance sheet date in order to ascertain whether they still qualify as deferred tax assets an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;d liabilities, and the appropriate adjustments are made on the basis of the findings of the analyses performed. In those circumstances in which it is unclear how a specific requirement of the tax law applies to a particular transaction or circumstance, and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the acceptability of the definitive tax treatment depends on the decisions taken by the relevant taxation authority in future, the entity recognizes current and deferred tax liabilities and assets considering whether it is probable or not that a taxation &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;authority will acc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ept an uncertain tax treatment.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Thus, if the entity concludes that it is not probable that the taxation authority will accept an uncertain tax treatment, the entity uses the amount expected to be paid to (recovered from) the taxation &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;authorities.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The income and expenses directly recognized in consolidated equity that do not increase or decrease taxable income are accounted for as temporary differences.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.11   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Provisions, contingent assets and contingent liabilities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The heading &amp;#8220;Provi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sions&amp;#8221; in the consolidated balance sheets includes amounts recognized to cover the BBVA Group&amp;#8217;s current obligations arising as a result of past events. These are certain in terms of nature but uncertain in terms of amount and/or settlement date. The settle&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ment of these obligations is deemed likely to entail an outflow of resources embodying economic benefits (see Note 24). The obligations may arise in connection with legal or contractual provisions, valid expectations formed by Group entities relative to th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ird parties in relation to the assumption of certain responsibilities or through virtually certain developments of particular aspects of the regulations applicable to the operation of the entities; and, specifically, future legislation to which the Group w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ill certainly be subject. The provisions are recognized in the consolidated balance sheets when each and every one of the following requirements is met:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;They represent a current obligation that has arisen from a past event. At the date of the Consolidated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Financial Statements, there is more probability that the obligation will have to be met than that it will not.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;It is probable that an outflow of resources embodying economic benefits will be required to settle the obligation.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The amount of the obligation c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;an be reasonably estimated.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Among other items, these provisions include the commitments made to employees by some of the Group entities (mentioned in Note 2.2.12), as well as provisions for tax and legal litigation.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Contingent assets are possible assets th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;at arise from past events and whose existence is conditional on, and will be confirmed only by, the occurrence or non-occurrence of events beyond the control of the Group. Contingent assets are not recognized in the consolidated balance sheet or in the con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;solidated income statement; however, they will be disclosed, should they exist, in the Notes to the Consolidated Financial Statements, provided that it is probable will give rise to an increase in resources embodying economic benefits.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Contingent liabiliti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;es are possible obligations of the Group that arise from past events and whose existence is conditional on the occurrence or non-occurrence of one or more future events beyond the control of the Group. They also include the existing obligations of the Grou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;p when it is not probable that an outflow of resources embodying economic benefits will be required to settle them; or when, in extremely rare cases, their amount cannot be measured with sufficient reliability. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Contingent liabilities are not recognized in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the consolidated balance sheet or the income statement (excluding contingent liabilities from business combination) but are disclosed in the Notes to the Consolidated Financial Statements, unless the possibility of an outflow of resources embodying econom&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ic benefits is remote.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.12   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Pensions and other post-employment commitments&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Below we provide a description of the most significant accounting policies relating to post-employment and other employee benefit commitments assumed by BBVA Group entities (see&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; Note 25).&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Short-term employee benefits&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Benefits for current active employees which are accrued and settled during the year and for which a provision is not required in the entity&amp;#180;s accounts. These include wages and salaries, social security charges and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;other personnel expenses.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Costs are charged and recognized under the heading &amp;#8220;Administration costs &amp;#8211; Personnel expenses &amp;#8211; Other personnel expenses&amp;#8221; of the consolidated income statement (see Note 44.1).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Post-employment benefits &amp;#8211; Defined-contribution plans&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group sponsors defined-contribution plans for the majority of its active employees. The amount of these benefits is established as a percentage of remuneration and/or as a fixed amount.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The contributions made to these plans in each year by BBVA Group e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ntities are charged and recognized under the heading &amp;#8220;Administration costs &amp;#8211; Personnel expenses &amp;#8211; Defined-contribution plan expense&amp;#8221; of the consolidated income statement (see Note 44.1). &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Post-employment benefits &amp;#8211; Defined-benefit plans&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Some Group entities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; maintain pension commitments with employees who have already retired or taken early retirement, certain closed groups of active employees still accruing defined benefit pensions, and in-service death and disability benefits provided to most active employe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;es. These commitments are covered by insurance contracts, pension funds and internal provisions.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, some of the Spanish entities have offered certain employees the option to retire before their normal retirement age, recognizing the necessary pro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;visions to cover the costs of the associated benefit commitments, which include both the liability for the benefit payments due as well as the contributions payable to external pension funds during the early retirement period.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Furthermore, certain Group entities provide welfare and medical benefits which extend beyond the date of retirement of the employees entitled to the benefits.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;All of these commitments are quantified based on actuarial valuations, with the amounts recorded &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;under the heading &amp;#8220;Provisions &amp;#8211; Provisions for pensions and similar obligations&amp;#8221; in the consolidated balance sheet and determined as the difference between the value of the defined-benefit commitments and the fair value of plan assets at the date of the Co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nsolidated Financial Statements (see Note 25).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Current service cost are charged and recognized under the heading &amp;#8220;Administration costs &amp;#8211; Personnel expenses &amp;#8211; Defined-benefit plan expense&amp;#8221; of the consolidated income statement (see Note 44.1).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Interest credi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ts/charges relating to these commitments are charged and recognized under the headings &amp;#8220;Interest and other income&amp;#8221; and &amp;#8220;Interest expense&amp;#8221; of the consolidated income statement (see Note 37).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Past service costs arising from benefit plan changes as well as ea&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rly retirements granted during the year are recognized under the heading &amp;#8220;Provisions or reversals of provisions&amp;#8221; of the consolidated income statement (see Note 46).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Other long-term employee benefits&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition to the above commitments, certain Group entit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ies provide long-term service awards to their employees, consisting of monetary amounts or periods of vacation granted upon completion of a number of years of qualifying service.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These commitments are quantified based on actuarial valuations and the amounts recorded under the heading &amp;#8220;Provisions &amp;#8211; Other long-term employee benefits&amp;#8221; of the consolidated balance sheet (see Note 24).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Valuation of commitments: actuarial assumptions and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt;recognition of gains/losses&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The present value of these commitments is determined based on individual member data. Active employee costs are determined using the &amp;#8220;projected unit credit&amp;#8221; method, which treats each period of service as giving rise to an additi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;onal unit of benefit and values each unit separately.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In establishing the actuarial assumptions we take into account that:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;They should be unbiased, i.e. neither unduly optimistic nor excessively conservative.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Each assumption does not contradict the others &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;and adequately reflect the existing relationship between economic variables such as price inflation, expected wage increases, discount rates and the expected return on plan assets, etc. Future wage and benefit levels should be based on market expectations,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; at the balance sheet date, for the period over which the obligations are to be settled.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The interest rate used to discount benefit commitments is determined by reference to market yields, at the balance sheet date, on high quality bonds.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;cognizes actuarial gains/losses relating to early retirement benefits, long service awards and other similar items under the heading &amp;#8220;Provisions or reversal of provisions&amp;#8221; of the consolidated income statement for the period in which they arise (see Note 46&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;). Actuarial gains/losses relating to pension and medical benefits are directly charged and recognized under the heading &amp;quot;Accumulated other comprehensive income &amp;#8211; Items that will not be reclassified to profit or loss &amp;#8211; Actuarial gains or losses on defined &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;benefit pension plans&amp;quot; of equity in the consolidated balance sheet (see Note 30).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.13   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Equity-settled share-based payment transactions&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Provided they constitute the delivery of such equity instruments following the completion of a specific period of services, equity-settled share-based payment transactions are recognized as an expense for services being provided by employees, by way of a b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;alancing entry under the heading &amp;#8220;Shareholders&amp;#8217; funds &amp;#8211; Other equity instruments&amp;#8221; in the consolidated balance sheet. These services are measured at fair value for the employees services received, unless such fair value cannot be calculated reliably. In suc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;h case, they are measured by reference to the fair value of the equity instruments granted, taking into account the date on which the commitments were granted and the terms and other conditions included in the commitments.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;When the initial compensation agr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;eement includes what may be considered market conditions among its terms, any changes in these conditions will not be reflected in the consolidated income statement, as these have already been accounted for in calculating the initial fair value of the equi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ty instruments. Non-market vesting conditions are not taken into account when estimating the initial fair value of equity instruments, but they are taken into account when determining the number of equity instruments to be issued. This will be recognized o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n the consolidated income statement with the corresponding increase in total consolidated equity.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.14   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Termination benefits&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Termination benefits are recognized in the financial statements when the BBVA Group agrees to terminate employment contracts wit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;h its employees and has established a detailed plan.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.15   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Treasury &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;shares&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The value of common stock issued by the BBVA Group&amp;#8217;s entities and held by them - basically, shares and derivatives on the Bank&amp;#8217;s shares held by some consolidated entities that &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;comply with the requirements to be recognized as equity instruments - are recognized as a decrease to net equity, under the heading &amp;quot;Shareholders&amp;#8217; funds - Treasury stock&amp;quot; in the consolidated balance sheets (see Note 29).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These financial assets are recogniz&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ed at acquisition cost, and the gains or losses arising on their disposal are credited or debited, as appropriate, to the heading &amp;#8220;Shareholders&amp;#8217; funds - Retained earnings&amp;#8221; in the consolidated balance sheets (see Note 28).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.16   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Foreign-currency transact&lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;ions and exchange differences&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group&amp;#8217;s functional currency, and thus the currency in which the Consolidated Financial Statements are presented, is the euro. As such, all balances and transactions denominated in currencies other than the euro are de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;emed to be denominated in &amp;#8220;foreign currency&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Conversion to euros of the balances held in foreign currency is performed in two consecutive stages:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Conversion of the foreign currency to the entity&amp;#8217;s functional currency (currency of the main economic environ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ment in which the entity operates); and&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Conversion to euros of the balances held in the functional currencies of the entities whose functional currency is not the euro.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Conversion of the foreign currency to the entity&amp;#8217;s functional currency&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Transactions &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;denominated in foreign currencies carried out by the consolidated entities (or entities accounted for using the equity method) are initially accounted for in their respective currencies. Subsequently, the monetary balances in foreign currencies are convert&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ed to their respective functional currencies using the exchange rate at the close of the financial year. In addition,&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Non-monetary items valued at their historical cost are converted to the functional currency at the exchange rate applicable on the purchas&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;e date.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Non-monetary items valued at their fair value are converted at the exchange rate in force on the date on which such fair value was determined.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Income and expenses are converted at the period&amp;#8217;s average exchange rates for all the operations carried o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ut during the year. When applying this criterion the BBVA Group considers whether significant variations have taken place in exchange rates during the year which, owing to their impact on the statements as a whole, may require the application of exchange r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ates as of the date of the transaction instead of such average exchange rates.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The exchange differences produced when converting the balances in foreign currency to the functional currency of the consolidated entities are generally recognized under the hea&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ding &amp;quot;Exchange differences, net&amp;quot; in the consolidated income statements (see Note 41). However, the exchange differences in non-monetary items, measured at fair value, are recognized temporarily in consolidated equity under the heading &amp;#8220;Accumulated other co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;mprehensive income - Items that may be reclassified to profit or loss - Exchange differences&amp;#8221; in the consolidated balance sheets (see Note 30).&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Conversion of functional currencies to euros&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The balances in the financial statements of consolidated entities &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;whose functional currency is not the euro are converted to euros as follows:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Assets and liabilities: at the closing spot exchange rates as of the date of each of the consolidated balance sheets.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Income and expenses and cash flows are converted&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; by applying the exchange rate applicable on the date of the transaction, and the average exchange rate for the financial year may be used, unless it has undergone significant variations.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Equity items: at&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; the historical exchange rates.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The exchange differe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nces arising from the conversion to euros of balances in the functional currencies of the consolidated entities whose functional currency is not the euro are recognized under the heading &amp;#8220;Accumulated other comprehensive income &amp;#8211; Items that may be reclassif&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ied to profit or loss - Exchange differences&amp;#8221; in the consolidated balance sheets (Notes 30 and 31 respectively). Meanwhile, the differences arising from the conversion to euros of the financial statements of entities accounted for by the equity method are &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;recognized under the heading &amp;quot; Accumulated other comprehensive income - Items that may be reclassified to profit or loss - Entities accounted for using the equity method&amp;quot; (Note 30) until the item to which they relate is derecognized, at which time they are&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; recognized in the income statement.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The financial statements of companies of hyperinflationary economies are restated for the effects of changes in prices before their conversion to euros following the provisions of IAS 29 &amp;quot;Financial information in hyperi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nflationary economies&amp;quot; (see note 2.2.20). Both these adjustments for inflation and the exchange differences that arise when converting the financial statements of companies into hyperinflationary economies are accounted for in Reserves.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e main consolidated balances in foreign currencies, with reference to the most significant foreign currencies, is set forth in Appendix VII.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Venezuela&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Local financial statements of the Group subsidiaries in Venezuela are expressed in Venezuelan Bolivar, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;and converted into euros for the consolidated financial statements&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. As &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Venezuela is a country with strong exchange restrictions and has diffe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rent rates officially published, s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ince December 31, 2015, the Board of Directors considers that the use of the Vene&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;zuelan official exchanges rates for converting bolivars into euros in preparing the Consolidated Financial Statements does not reflect the true picture of the financial statements of the Group and the financial position of the Group subsidiaries in Venezue&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;la. Therefore, since the year ended December 31, 2015, the exchange rate for converting bolivars into euros is an estimation taking into account the lack of official data and the evolution of the estimated inflation in Venezuela. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;2017 and 2016, the impact on the financial statements that would have resulted by applying the last published official exchange rate instead of the exchange rate estimated by BBVA Group was not significant.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.17   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Recognition of income and expenses&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;most significant policies used by the BBVA Group to recognize its income and expenses are as follows.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Interest income and expenses and similar items:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;As a general rule, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;interest income and expenses and similar items are recognized on the basis of their per&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;iod of accrual using the effective interest rate method. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;They shall &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;be&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt; recognized within the consolidated income statement according to the following criteria, independently from the financial instruments&amp;#8217; portfolio which generates the income or expenses:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The interest income past-due before the initial recognition and pending to be received will form part of the gross carrying amount of the debt instrument.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The interest income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; accrued after the initial recognition will form part of the gross carrying amoun&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;t of the debt instrument until it will be received.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The financial fees and commissions that arise on the arrangement of loans and advances (basically origination and analysis fees) are deferred and recognized in the income statement over the expected life &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of the loan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;. From that amount, the transaction costs identified as directly attributable to the arrangement of the loans and advances will be deducted. These fees are part of the effective interest rate for the loans and advances. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;Once a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; debt instrument has been impaired, interest income is recognized applying the effective interest rate used to discount the estimated recoverable cash flows on the carrying amount of the asset.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Income from dividends received:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;Dividends shall be &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;recognized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt; within the consolidated income statement according to the following&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;criteria, independently from the financial instruments&amp;#8217; portfolio which generates this income:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;When the right to receive payment has been declared before the initial recognition and when &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the payment is pending to be received, the dividends will not form part of the gross carrying amount of the equity instrument and will not be recognized as income. Those dividends are accounted for as financial assets separately from the net equity instrum&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ent.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;If the right to receive payment is received after the initial recognition, the dividends from the net equity instruments will be recognized within the consolidated income statement. If the dividends correspond indubitable to the profits of the issuer &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;before the date of initial recognition, they will not be recognized as income but as reduction of the gross carrying amount of the equity instrument because it represents a partly recuperation of the investment. Amongst other circumstances, the generation &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;date can be considered to be prior to the date of initial recognition if the amounts distributed by the issuer as from the initial recognition are higher than its profits during the same period.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Commissions, fees and similar items:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Income and expenses rel&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ating to commissions and similar fees are recognized in the consolidated income statement using criteria that vary according to the nature of such items. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The most significant items in this connection are:&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Those relating to financial assets and liabilities &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;measured at fair value through profit or loss, which are recognized when collected/paid.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Those arising from transactions or services that are provided over a period of time, which are recognized over the life of these transactions or services.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Those relati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ng to a singular transaction, which are recognized when this singular transaction is carried out.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Non-financial income and expenses:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These are recognized for accounting purposes on an accrual basis.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Deferred collections and payments:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These are recognized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;for accounting purposes at the amount resulting from discounting the expected cash flows at market rates.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.18   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Sales of assets and income from the provision of non-financial services&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The heading &amp;#8220;Other operating income&amp;#8221; in the consolidated income &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;statements includes the proceeds of the sales of assets and income from the services provided by the Group entities that are not financial institutions. In the case of the Group, these entities are mainly real estate and service entities (see Note 42).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;.19   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Leases&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Lease contracts are classified as finance leases from the inception of the transaction if they substantially transfer all the risks and rewards incidental to ownership of the asset forming the subject-matter of the contract. Leases other than &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;finance leases are classified as operating leases.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;When the consolidated entities act as the lessor of an asset under finance leases, the aggregate present values of the lease payments receivable from the lessee plus the guaranteed residual value (normally&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the exercise price of the lessee&amp;#8217;s purchase option on expiration of the lease agreement) are recognized as financing provided to third parties and, therefore, are included under the heading &amp;#8220;Loans and receivables&amp;#8221; in the accompanying consolidated balance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sheets (see Note 14).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;When the consolidated entities act as lessors of an asset in operating leases, the acquisition cost of the leased assets is recognized under &amp;quot;Tangible assets &amp;#8211; Property, plant and equipment &amp;#8211; Other assets leased out under an operating&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; lease&amp;quot; in the consolidated balance sheets (see Note 17). These assets are depreciated in line with the criteria adopted for items of tangible assets for own use, while the income arising from the lease arrangements is recognized in the consolidated income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; statements on a straight-line basis within &amp;quot;Other operating expenses&amp;quot; (see Note 42).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;If a fair value sale and leaseback results in an operating lease, the profit or loss generated from the sale is recognized in the consolidated income statement at the tim&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e of sale. If such a transaction gives rise to a finance lease, the corresponding gains or losses are&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; accrued over the lease period.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The assets leased out under operating lease contracts to other entities in the Group are treated in the Consolidated Finan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;cial Statements as for own use, and thus rental expense and income is eliminated in consolidation and the corresponding depreciation is recognized.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.20   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Entities and branches located in countries with hyperinflationary economies&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In accordance with the IFRS criteria, to determine whether an economy has a high inflation rate, the country&amp;#39;s economic situation is examined, analyzing whether certain circumstances are fulfilled, such as whether the population prefers to keep its wealth &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;or savings in non-monetary assets or in a relatively stable foreign currency, whether prices can be set in that currency, whether interest rates, wages and prices are pegged to a price index or whether the accumulated inflation rate over three years reache&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s or exceeds 100%. The fact that any of these circumstances is fulfilled will not be a decisive factor in considering an economy hyperinflationary, but it does provide some reasons to consider it as such. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Argentina&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In 2018, the Argentinian economy was con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sidered to be hyperinflationary as defined by the aforementioned criteria. Accordingly, as of December 31, 2018, it was necessary to adjust the financial statements of the Group&amp;#39;s subsidiaries based in Argentina to correct for the effect of inflation.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Purs&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;uant to the requirements of IAS 29, the monetary headings (mainly loans and deposits) have not been re-expressed, while the non-monetary headings (mainly tangible fixed assets and equity) have been re- expressed in accordance with the change in the country&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#39;s Consumer Price Index.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The accumulated historical differences between the re-expressed costs and the previous costs in the non-monetary headings as of December 31, 2017 were credited to &amp;#8220;Equity&amp;#8221; in the balance sheet, effective on January 1, 2018, while &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the differences corresponding to 2018, and the re-expression of results were recognized in the consolidated income statement for 2018 in accordance with the nature of the income and expenses.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;During the year ended December 31, 2018 there was a reclassific&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ation in &amp;#8220;Transfers within total equity&amp;#8221; of the Consolidated Statements of Changes in Equity between &amp;#8220;Accumulated other comprehensive income&amp;#8221; and &amp;#8220;Shareholders&amp;#8217; funds &amp;#8211; Retained earnings&amp;#8221; for &amp;#8364;1,096 million, and from &amp;#8220;Non-controlling interest &amp;#8211; Accumulated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; other comprehensive income (loss)&amp;#8221; to &amp;#8220;Non-controlling interest &amp;#8211; Other&amp;#8221; for &amp;#8364;540 million in accordance with IAS 29 and the accounting policy approved by the Group in relation to the hyperinflation (see Note 1.3).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;During 2018, the increase in the reserves&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of Group entities located in Argentina derived from the re-expression for hyperinflation (IAS 29) amounted to &amp;#8364;703 million, of which &amp;#8364;463 million have been recorded within &amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Shareholders&amp;#8217; funds - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Retained earnings&amp;#8221; and &amp;#8364;240 million within &amp;#8220;Minority interes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ts &amp;#8211; Other&amp;#8221;. Furthermore, during 2018 the decrease in the reserves of Group entities located in Argentina derived from conversion (IAS 21) amounts to &amp;#8364;-773 million, of which &amp;#8364;-515 million have been recorded within &amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Shareholders&amp;#8217; funds - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Retained earnings&amp;#8221;,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &amp;#8364;-258 million within &amp;#8220;Minority interests &amp;#8211; Other&amp;#8221;. The net impact of both effects is presented under the caption &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#8220;Other increases or (-) decreases in equity&amp;#8221; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in the consolidated Statement of Changes in Equity for the year ended December 31, 2018. The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;net loss in the profit attributable to the parent company of the Group in 2018 derived from the application of IAS 29 amounted to &amp;#8364;209 million. In addition, there is a net loss in the profit attributable to the parent company of the Group in 2018 derived f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rom the application of IAS 21 which amounted to &amp;#8364;57 million.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the General Price Index (&amp;#8220;GPI&amp;#8221;) and the inflation index used as of December 31, 2018 for the inflation restatement of the financial statements of the Group companies locat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ed in A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rgentina is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;text-decoration:underline;color:#000000;' &gt;General Price Index &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;184&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Average GPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Inflation of the period&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Venezuela&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Since 2009, the economy of Venezuela can be considered hyperinflationary under the above criteria. As a result, the financial statements of the BBVA Group&amp;#8217;s entities located in Venezuela have &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;therefore been adjusted to correct for the effects of inflation in accordance with IAS 29 &amp;#8220;Financial Reporting in Hyperinflationary Economies&amp;#8220;. As stated in Note 1.3, BBVA has restated prior year information in relation to a change in the accounting policy&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; for applying IAS 29.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The losses recognized under the heading &amp;#8220;Profit attributable to the parent company&amp;#8221; in the accompanying consolidated income statement as a result of the adjustment for inflation on net monetary position of the Group entities in Venezu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ela amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;12&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;13&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;28&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million in 2018, 2017 and 2016 respectively (see Note 2.2.16).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.3   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Recent IFRS pronouncements&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;text-decoration:underline;margin-left:0pt;color:#072146;' &gt;Changes introduced in 2018&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following amendments to the IFRS standards or their interpretations (hereinafter &amp;#8220;IFRIC&amp;#8221;) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;became effecti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ve on or after January 1, 2018.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;IFRS 9 - &amp;#8220;Financial instruments&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;IFRS 9 replaced IAS 39 for financial statements from January 1, 2018 onwards and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;includes new classification and measurement requirements for financial assets and liabilities &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;and impairment requirements for financial assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt; (see Note 2.2.1).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Regarding the hedge accounting, the Group has elected to continue applying IAS 39 to its hedge accounting as permitted by IFRS 9.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Amended IFRS 9 &amp;#8211; Prepayment Features with Negative &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt;Compensation&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amendments to IFRS 9 allow entities to measure certain prepayable financial assets with negative compensation at amortized cost or at fair value through other comprehensive income if a specified condition is met, instead of at fair value t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hrough profit or loss. The condition is that the financial asset would otherwise meet the criteria of having contractual cash flows that are solely payments of principal and interest but do not meet that condition only as a result of that prepayment featur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amendments should be applied to the accounting periods beginning on or after January 1, 2019, although early application is permitted. The Group has applied this amendment to the accounting period beginning on January 1, 2018 and it has not had a si&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;gnificant impact on the Group&amp;#180;s financial statements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Amended IFRS 7 - &amp;#8220;Financial instruments: Disclosures&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The IASB modified IFRS 7 in December 2011 to include new disclosures on financial instruments that entities have to provide in the period that they &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;apply IFRS 9 for the first time.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;IFRS 15 - &amp;#8220;Revenue from contracts with customers&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;IFRS 15 contains the principles that an entity shall apply to account for revenue and cash flows arising from a contract with a customer (see Note 2.2.17).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The core principl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e of IFRS 15 is that a company should recognize revenue to depict the transfer of promised goods or services to the customer in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services, i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n accordance with contractual agreements (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;either over time or at a certain time)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. It is considered that the good or service is transferred when the customer obtains control over it.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The new Standard replaces IAS 18 &amp;#8211; Revenue, IAS 11 - Construction Contract&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s, IFRIC 13 - Customer Loyalty Programmes, IFRIC 15 - Agreements for the Construction of Real Estate, IFRIC 18 - Transfers of Assets from Customers and SIC 31 &amp;#8211; Revenue-Transactions Involving Advertising Services.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This standard has not had a significant &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;impact on the Group&amp;#39;s Consolidated Financial Statements.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;IFRS 2 &amp;#8211; &amp;#8220;Classification and Measurement of Share-based Payment Transactions&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amendments made to IFRS 2 provide requirements on three different aspects:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;When measuring the fair value of a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;cash-settled share-based payment vesting conditions, other than market conditions, the conditions for the irrevocability shall be taken into account by adjusting the number of awards included in the measurement of the liability arising from the transaction&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;A transaction in which an entity settles a share-base payment arrangement net by withholding a specified portion of the equity instruments to meet a statutory tax withholding obligation will be classified as equity settled in its entirety if, without the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; net settlement feature, the entire share-based payment would otherwise be classified as equity-settled.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;In case of modification of a share-based payment from cash-settled to equity-settled, the modification will be accounted for derecognizing the original&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; liability and recognizing in equity the fair value of the equity instruments granted to the extent that services have been rendered up to the modification date; any difference will be recognized immediately in profit or loss.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This standard has not had a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;significant impact on the Group&amp;#39;s Consolidated Financial Statements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Amended IFRS 4 &amp;#8211; &amp;#8220;Insurance Contracts&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amendments made to IFRS 4 address the temporary accounting consequences of the different effective dates of IFRS 9 and the forthcoming insurance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; contracts standard, by introducing two optional solutions: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-style:italic;color:#000000;' &gt;The deferral approach or temporary exemption&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;, that gives entities whose predominant activities are connected with insurance the option to defer the application of IFRS 9 and continue applying IAS&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; 39 until 2021.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-style:italic;color:#000000;' &gt;The overlay approach&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;, that gives all issuers of insurance contracts the option to recognize in other comprehensive income, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-style:italic;color:#000000;' &gt;rather&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; than profit or loss, the additional accounting volatility that may arise from applying IFRS 9 compared to appl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ying IAS 39 before applying the forthcoming insurance contracts standard.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This standard has not had a significant impact on the Group&amp;#39;s Consolidated Financial Statements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Annual improvements cycle to IFRSs 2014-2016 &amp;#8211; Minor amendments to IFRS 1 and IAS 28&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The annual improvements cycle to IFRSs 2014-2016 includes minor changes and clarifications to IFRS 1- First-time Adoption of International Financial Reporting Standards and IAS 28 &amp;#8211; Investments in Associates and Joint Ventures, which should be applied to t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he accounting periods beginning on or after January 1, 2018, although early application was permitted for modifications to IAS 28.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This standard has not had a significant impact on the Group&amp;#39;s Consolidated Financial Statements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;IFRIC 22 &amp;#8211; Foreign Currency&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt; Transactions and Advance Consideration&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Interpretation addresses how to determine the date of the transaction, and thus, the exchange rate to use to translate the related asset, expense or income on initial recognition, in circumstances in which a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;non-monetary prepayment asset or a non-monetary deferred income liability arising from the payment or receipt of advance consideration is recognized in advance of the related asset, income or expense. It requires that the date of the transaction will be th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e date on which an entity initially recognizes the non-monetary a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sset or non-monetary liability.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;If there are multiple payments or receipts in advance, the entity shall determine a date of the transaction for each payment or receipt of advance considerati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;on.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This standard has not had a significant impact on the Group&amp;#39;s consolidated financial statements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Amended IAS 40 &amp;#8211; Investment Property&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;The amendment states that an entity shall transfer a property to, or from, investment property when, and only when, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;there is evidence of a change in use. A change in use occurs when the property meets, or ceases to meet, the definition of investment property.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This standard has not had a significant impact on the Group&amp;#39;s financial statements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;text-decoration:underline;margin-left:0pt;color:#072146;' &gt;Standards and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;text-decoration:underline;color:#072146;' &gt;interpretations issued but not yet effective as of December 31, 2018&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;The following new International Financial Reporting Standards together with their interpretations had been published at the date of preparation of the accompanying consolidated financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;statements, but are not mandatory as of December 31, 2018. Although in some cases the IASB allows early adoption before their effective date, the BBVA Group has not proceeded with this option for any such new standards.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Amended IFRS 10 &amp;#8211; &amp;#8220;Consolidated fina&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt;ncial statements&amp;#8221; and IAS 28 amended&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amendments to IFRS 10 and IAS 28 establish that when an entity sells or transfers assets which are considered a business (including its consolidated subsidiaries) to an associate or joint venture of the entity, the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;latter will have to recognize any gains or losses derived from such transaction in its entirety.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Notwithstanding, if the assets sold or transferred are not considered a business, the entity will have to recognize the gains or losses derived only to the ext&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ent of the interests in the associate or joint venture with unrelated investors.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These changes will be applicable to accounting periods beginning on the effective date, still to be determined, although early adoption is allowed.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;IFRS 16 &amp;#8211; &amp;#8220;Leases&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;January 13, 2016, the IASB issued IFRS 16 which will replace IAS 17 &amp;#8220;Leases&amp;#8221; for financial statements from January 1, 2019 onwards. The new standard introduces a single lessee accounting model and will require a lessee to recognize assets and liabilities f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;or all leases. The only exceptions are short-term contracts and those in which the underlying assets have low value. A lessee will be required to recognize a right-of-use asset representing its right to use the underlying leased asset and a lease liability&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; representing its obligation to make lease payments.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With regard to lessor accounting, IFRS 16 substantially carries forward the lessor accounting requirements in IAS 17. Accordingly, a lessor will continue to classify its leases as operating leases or fin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ance leases, and account for those two types of leases differently.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;During the financial years 2017 and 2018 the Group has carried out a project to implement IFRS 16 with the participation of all affected areas. The standard will mainly affect the accounti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ng of operating leases of the Group.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With regard to the estimated impact on the Consolidated Financial Statements, at the transition date, the Group has decided to apply the modified retrospective approach which requires recognition of a lease liability e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;qual to the present value of the future payments committed on January 1, 2019. Regarding the measurement of the right-of-use asset, the Group has elected to record an amount equal to the lease liability. As a result of this approach, the Group expects to r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ecognize assets for the right-of-use and lease liabilities for an approximate amount of 3,600 million euros mainly coming from the Group&amp;#8217;s activity in Spain as well as from bank branches leases. The estimated impact in terms of capital (CET1) for the Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; amounts to -12 basis points.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The final impact of adopting the standard as of January 1, 2019 may change because:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the Group has not concluded the tests;&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the new accounting policies, methodologies and parameters may be subject to changes until the Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;pre&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;sents&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; its financial statements that include the final impact as of the date of initial application.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;IFRS 17 &amp;#8211; Insurance Contracts&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;IFRS 17 establishes the principles for the accounting for insurance contracts and supersedes IFRS 4. The new standard &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;introduces a single accounting model for all insurance contracts and requires the entities to use updated assumptions.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;An entity shall divide the contracts into groups and recognize and measure groups of insurance contracts at the total of:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the fulfilment &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;cash flows, that comprises the estimate of future cash flows, an adjustment to reflect the time value of money and the financial risk associated with the future cash flows and a risk adjustment for non-financial risk; and&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the contractual service margin tha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;t r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;epresents the unearned profit.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amounts recognized in the consolidated income statement shall be disaggregated into insurance revenue, insurance service expenses and insurance finance income or expenses. Insurance revenue and insurance service expens&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;es shall exclude any investment components. Insurance revenue shall be recognized over the period the entity provides insurance coverage and in proportion to the value of the provision of coverage that the insurer provides in the period.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This Standard wil&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;l be applied to the accounting years starting on or after January 1, 2021.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;IFRIC 23 - Uncertainty over Income Tax Treatments&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;IFRIC 23 provides guidance on how to apply the recognition and measurement requirements in IAS 12 when there is uncertainty over in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;come tax treatments. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;If the entity considers that it is probable that the taxation authority will accept an uncertain tax treatment, the Interpretation requires the entity to determine taxable profit (tax loss), tax bases, unused tax losses, unused tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;credits or tax rates consistently with the tax treatment used or planned to be used in its income tax filings.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;If the entity considers that it is not probable that the taxation authority will accept an uncertain tax treatment, the Interpretation requires &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the entity to use the most likely amount or the expected value (sum of the probability. weighted amounts in a range of possible outcomes) in determining taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates. The method u&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sed should be the method that the entity expects to provide the better prediction of the resolution of the uncertainty.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The interpretation will be applied to the accounting periods beginning on or after January 1, 2019.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Amended IAS 28 &amp;#8211; Long-term Interests&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt; in Associates and Joint Ventures&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amendments to IAS 28 clarify that an entity is required to apply IFRS 9 to long term interests in an associate or joint venture that, in substance, form part of the net investment in the associate or joint venture but &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;to which the equity method is not applied.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amendments will be applied to the accounting periods beginning on or after January 1, 2019.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Annual improvements cycle to IFRSs 2015-2017&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt; &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The annual improvements cycle to IFRSs 2015-2017 includes minor changes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and clarifications to IFRS 3- Business Combinations, IFRS 11 &amp;#8211; Joint Arrangements, IAS 12 &amp;#8211; Income Taxes and IAS 23 &amp;#8211; Borrowing Costs, which will be applied to the accounting periods beginning on or after January 1, 2019, although early application is per&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;mitted.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Amended IAS 19 &amp;#8211; Plan Amendment, Curtailment or Settlement&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The small amendments in IAS 19 concern the cases if a plan is amended, curtailed or settled during the period. In these cases, an entity should ensure that the current service cost and the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;net interest for the period after the remeasurement are determined using the assumptions used for the remeasurement. In addition, amendments have been included to clarify the effect of a plan amendment, curtailment or settlement on the requirements regardi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ng the asset ceiling.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amendments will be applied to the accounting periods beginning on or after January 1, 2019.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Amended IFRS 3 &amp;#8211; Definition of a business&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amendments clarify the difference between the acquisition of a business or the acquisition o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;f a set of assets. To determine whether a transaction is an acquisition of a business, an entity should evaluate and conclude if the two following conditions are fulfilled:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:12pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the fair value of the acquired assets is not concentrated in one single asset or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;group of similar assets.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:12pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the entirety of acquired activities and assets includes, as a minimum, an input and a substantial process which, together, contribute to the capacity to create products.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amendments will be applied to the accounting periods &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;beginning on or after January 1, 2020, although early application is permitted.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Amended IAS 1 and IAS 8 &amp;#8211; Definition of material&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amendments clarify the definition of material in the elaboration of the financial statements by aligning the definition of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the conceptual framework, IAS 1 and IAS 8 (which, before the amendments, included similar but not identical definitions). The new definition of material is the following: &amp;#8220;Information is material if omitting, misstating or obscuring it could reasonably be&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amendments will be applied to the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;accounting periods beginning on or after January 1, 2020, although early application is permitted.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.4    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Transition to IFRS 9 and condensed consolidated opening balance sheet as of January 1, 2018&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.4.1   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Transition to IFRS 9&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;As mentioned in the Notes &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;1.3, 2.2.1 and 2.3, IFRS 9 replaced IAS 39 for financial statements from January 1, 2018 onwards and includes new classification and measurement requirements for financial assets and liabilities, impairment requirements for financial assets and hedge accou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;nting policy.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;The application of this standard on January 1, 2018, had a significant impact on the consolidated financial statements of the Group at that date.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#006EC1;' &gt;Classification and measurement of financial instruments&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#004580;' &gt;Financial assets&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;IFRS 9 has a new approach to classification and measurement of financial assets which is a mirror of the business model used for asset management purposes and its cash flow characteristics. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;IFRS 9 contains three main categories for financial assets classi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;fication: valued at amortized cost, valued at fair value with changes in other accumulated comprehensive income, and valued at fair value through profit or loss. The standard eliminates the IAS 39 categories of held-to-maturity investments, loans and recei&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;vables, and available-for-sale financial assets.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The classification of financial instruments measured at amortized cost or fair value must be carried out on the basis of: the entity&amp;#39;s business model and the assessment of the contractual cash flow, commonly&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; known as the &amp;quot;solely payments of principle and interest&amp;quot; criterion (hereinafter, the SPPI). The purpose of the SPPI test is to determine whether in accordance with the contractual characteristics of the instrument its cash flows only represent the return &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of the principal and interest, basically understood as consideration for the time value of money and the debtor&amp;#39;s credit risk.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;A financial instrument will be classified in the amortized cost portfolio when it is managed with a business model whose purpose&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; is to maintain the financial assets to receive contractual cash flows, and passes the SPPI test. They will be classified in the portfolio of financial assets at fair value with changes in other comprehensive income if they are managed with a business mode&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;l whose purpose combines collection of the contractual cash flows and sale of the assets, and meets the SPPI test. They will be classified at fair value with changes in profit and loss provided that the entity&amp;#39;s business model for their management or the c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ontractual characteristics of its cash flows do not require classification into one of the portfolios described above.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group reviewed the existing business models in the geographic areas where it operates to establish classification in accordance with &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;IFRS 9, taking into account the special characteristics of the local structures and organizations, as well as the type of products.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group has defined criteria to determine the acceptable frequency and reasons for sales so that the instrument can remain&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; in the category of held to collect contractual cash flows.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Regardless of the frequency and importance of the sales, some types of sales are not incompatible with the category of held to collect contractual flows: sales due to reduction in credit quality; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sales close to the maturity of transactions so that variations in market prices will not have a significant effect on the cash flows of the financial asset; sales in response to a change in regulations or in taxation; sales in response to an internal restr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ucturing or significant business combination; sales derived from the execution of a liquidity crisis plan when the crisis event is not reasonably foreseeable.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group segmented the portfolio of instruments for carrying out the SPPI test by differentiatin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;g products with standard contracts (all the instruments have identical contractual characteristics and are broadly used), for which the Group has carried out the SPPI test by reviewing the standard framework contract. For those products with similar, but n&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ot identical characteristics compliance has been assessed through a sampling exercise of contracts. All the financial instruments with specific contractual characteristics have been analyzed individually.  &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As a result of the analyses carried out on both t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he business model and the contractual characteristics, certain accounting reclassifications resulted affecting both financial assets and, as the case may be, financial liabilities related to those assets. In general, there is a greater volume of assets val&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ued at fair value with changes in the income statement and the valuation method of some instruments has also been changed according to the one that best reflects the business model to which they belong. Changes in the valuation model to avoid exceeding the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; criterion of solely payment of principal and interest are not significant.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2017, the Group had certain investments in financial instruments classified as available-for-sale which, in accordance with IFRS 9, the Group designated as finan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;cial assets at fair value through other comprehensive income. As a result, all the gains and losses at fair value of these instruments are now reported in accumulated other comprehensive income. Impairment losses would not be recognized to profit and loss,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and gains or losses would not be reclassified to the income statement in the case of divestment. The remaining investments held by the Group as of December 31, 2017 in equity instruments classified as available-for-sale are now accounted for as fair value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; through changes in profit or loss.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#004580;' &gt;Financial liabilities&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;IFRS 9 largely maintains the requirements under IAS 39 for classifying financial liabilities. However, a new aspect introduced by IFRS 9 is the recognition of changes in the fair value of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;financial liabilities to which the fair value option is applied. In this case, the changes in the fair value attributable to the credit risk itself are recognized as other comprehensive income, while the rest of the variation is recognized in the income st&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;atement. In any case, the variation of credit risk itself may be recognized in the income statement if the treatment described above generates accounting asymmetry.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#006EC1;' &gt;Financial assets impairments&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;IFRS 9 replaced the &amp;quot;incurred loss&amp;quot; model in IAS 39 with one &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of &amp;quot;expected credit loss&amp;quot;. The IFRS 9 impairment model is applied to financial assets valued at amortized cost and to financial assets valued at fair value through other comprehensive income, except for investments in equity instruments and contracts for f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;inancial guarantees and loan commitments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;unilaterally revocable by BBVA. Likewise, all the financial instruments valued at fair value with change through profit and loss are excluded from the impairment model&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The new standard classifies financial instrume&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nts into three categories, which depend on the evolution of their credit risk from the moment of initial recognition. The first category includes the transactions when they are initially recognized (Stage 1); the second comprises the financial assets for w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hich a significant increase in credit risk has been identified since its initial recognition (Stage 2) and the third one, the impaired financial assets (Stage 3).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The calculation of the provisions for credit risk in each of these three categories must be d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;one differently. In this way, expected loss up to 12 months for the financial assets classified in the first of the aforementioned categories must be recorded, while expected losses estimated for the remaining life of the financial assets classified in the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; other two categories must be recorded. Thus, IFRS 9 differentiates between the following concepts of expected loss: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Expected loss at 12 months: expected credit loss that arises from possible default events within  12  months following the presentation da&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;te of the financial statements; and&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Expected loss during the life of the transaction: this is the expected credit loss that arises from all possible default events over the remaining life of the financial instrument.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;All this requires considerable judgment&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, both in the modeling for the estimation of the expected losses and in the forecasts, on how the economic factors affect such losses, which must be carried out o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n a weighted probability basis.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group has applied the following definitions in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;accordance with IFRS 9:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Default&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA has applied a definition of default for financial instruments that is consistent with that used in internal credit risk management, as well as the indicators under&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; applicable regulation at the date of implementation of IFRS 9. Both qualitative and quantitative indicators have been considered.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group has considered there is a default when one of the following situations occurs: &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ayment past-due for more than 90&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; days; or&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- there&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; are reasonable doubts regarding the full reimbursement of the instrument.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In accordance with IFRS 9, the 90-day past-due stipulation may be waived in cases where the entity considers it appropriate, based on reasonable and documented info&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rmation that it is appropriate to use a longer term. As of December 31, 2018, the Group has not considered periods higher than 90 days for any of the significant portfolios.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Credit impaired asset&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;An asset is credit-impaired according to IFRS 9 if one or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;more events have occurred and they have a detrimental impact on the estimated future cash flows of the asset. Evidence that a financial asset is credit-impaired includes observable data about the following events:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- Significant &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;financial&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; difficulty of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;issuer or the borrower.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- A breach of contract (e.g. a default or past due event).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- A lender having granted a concession to the borrower &amp;#8211; for economic or contractual reasons relating to the borrower&amp;#8217;s financial difficulty &amp;#8211; that the lender would not othe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rwise consider.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- It becoming probable that the borrower will enter bankruptcy or other financial reorganization.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- The disappearance of an active market for that financial asset because of financial difficulties.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- The purchase or origination of a financi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;al asset at a deep discount that reflects the incurred credit losses.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;It may not be possible to identify a single discrete event. Instead, the combined effect of several events may cause financial assets to become credit-impaired.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The definition of impaire&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;d financial assets in the Group is aligned with the definition of default explained in the above paragraphs.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Significant increase in credit risk &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The objective of the impairment requirements is to recognize lifetime expected credit losses for financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;instruments for which there have been significant increases in credit risk since initial recognition considering all reasonable and supportable information, including&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; that which is forward-looking.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The model developed by the Group for assessing the signif&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;icant increase in credit risk has a two-prong approach that is applied globally, although the specific characteristics of each geographic area are respected:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Quantitative criterion: the Group uses a quantitative analysis based on comparing the current ex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;pected probability of default over the life of the transaction with the original adjusted expected probability of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, so that both values are comparable in terms of expected default probability for their residual life. The thresholds used for consider&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ing a significant increase in risk take into account special cases according to geographic areas and portfolios. Depending on how old current financial assets are, at the time implementation of the standard, some simplification has been made to compare the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; probabilities of default between the current and the original moment, based on the best information available at that moment.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Qualitative criterion: most indicators for detecting significant risk increase are included in the Group&amp;#39;s systems through rati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ng/scoring systems or macroeconomic scenarios, so quantitative analysis covers the majority of circumstances. The Group will use additional qualitative criteria when it considers it necessary to include circumstances that are not reflected in the rating/sc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ore systems or macroeconomic scenarios used. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Additionally, instruments under one of the following circumstances are considered Stage 2:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;More than 30 days past due. According to IFRS 9, default of more than 30 days is a presumption that can be rebutted i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n those cases in which the entity considers, based on reasonable and documented information, that such non-payment does not represent a significant increase in risk. As of December 31, 2018, the Group has not considered periods superior to 30 days for any &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of the significant portfolios.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Watch list: They are subject to special watch by the Risks units because they show negative signs in their credit quality, even though there may be no objective evidence of impairment.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Refinance or res&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tructuring that does&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; not show evidence of impairment.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Although the standard introduces a series of operational simplifications or practical solutions for analyzing the increase in significant risk, the Group does not expect to use them as a general rule. However, for high-qua&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;lity assets, mainly related to certain government institutions and bodies, the standard allows for considering that their credit risk has not increased significantly because they have a low credit risk at the presentation date.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Thus the classification of f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;inancial instruments subject to impairment under the new IFRS 9 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Stage 1&amp;#8211; without significant increase in credit risk&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.45pt;' &gt;Financial assets which are not considered to have significantly increased in credit risk have loss allowances measured at an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; amount equal to 12&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; months expected credit losses.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Stage 2&amp;#8211; significant increases in credit risk&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.4pt;' &gt;When the credit risk of a financial asset has increased significantly since the initial recognition, the impairment losses of that financial instrument is calc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ulated as the expected credit loss during the entire life of the asset.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Stage 3 - Impaired&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.45pt;' &gt;When there is objective evidence that the instrument is credit impaired, the financial asset is transferred to this category &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in which the provision for losses of th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;at financial instrument is calculated as the expected credit loss &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;during the entire life of the asset.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#004580;' &gt;Method for calculating expected loss&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In accordance with IFRS 9, the measurement of expected losses must reflect:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;A considered and unbiased amount, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;determined by evaluating a range of possible results.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The time value of money.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Reasonable and supportable information that is available without undue cost or effort and that reflects current conditions and forecasts of future economic conditions. &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Grou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;p measures the expected losses both individually and collectively. The purpose of the Group&amp;#39;s individual measurement is to estimate expected losses for significant impaired instruments, or instruments classified in Stage 2. In these cases, the amount of cr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;edit losses is calculated as the difference between expected discounted cash flows at the effective interest rate of the transaction and the carrying amount of the instrument. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;For the collective measurement of expected losses the instruments are grouped i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nto groups of assets based on their risk characteristics. Exposure within each group is segmented according to the common credit risk characteristics, similar characteristics of the credit risk, indicative of the payment capacity of the borrower in accorda&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nce with their contractual conditions. These risk characteristics have to be relevant in estimating the future flows of each group. The characteristics of credit risk may consider, among others, the following factors:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Type of instrument.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Rating or scoring &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;tools.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Credit risk scoring or rating.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Type of collateral.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Amount of time at default for stage 3.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Segment.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Qualitative criteria which can have a significant increase in risk.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Collateral value if it has an impact on the probability of a default event.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The es&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;timated losses are derived from the following parameters:&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;PD: estimate of the probability of default in each period.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;EAD: estimate of the exposure in case of default at each future period, taking into account the changes in exposure after the presentation &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;date of the financial statements. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;LGD:  estimate of the loss in case of default, calculated as the difference between the contractual cash flows and receivables, including guarantees. &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the case of debt securities, the Group supervises the changes in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;credit risk through monitoring the external published credit ratings.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;To determine whether there is a significant increase in credit risk that is not reflected in the published ratings, the Group has also revised the changes in bond yields, and when they &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;are available, the prices of CDS, together with the news and regulatory information available on the issuers.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#004580;' &gt;Use of present, past and future information&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;IFRS 9 requires incorporation of present, past and future information to detect any significant increa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;se in risk and measure expected loss.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The standard does not require identification of all possible scenarios for measuring expected loss. However, the probability of a loss event occurring and the probability it will not occur will also have to be &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;considered, even though the possibility of a loss may be very small. Also, when there is no linear relation between the different future economic scenarios and their associated expected losses, more than one future economic scenario mu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;st be used for the me&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;asurement.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The approach used by the Group consists of using first the most probable scenario (baseline scenario) consistent with that used in the Group&amp;#39;s internal management processes, and then applying an additional adjustment, calculated by considering t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he weighted average of expected losses in other economic scenarios (one more positive and the other more negative). The main macroeconomic variables that are valued in each of the scenarios for each of the geographies in which the Group operates are GDP, t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ax rates, unemployment rate and LTV.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.4.2   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Condensed consolidated opening balance sheet as of January 1, 2018&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Condensed Consolidated balance sheets (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;December 2017 IAS 39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Classification and measurement of financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Impairment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Opening balance sheet 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;42,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;42,680&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;64,695&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;91,854&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;35,265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;35,265&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,849&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22,573&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;245&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;245&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14,895&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14,895&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12,026&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,451&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,690)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;62,107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;62,115&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,761&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,761&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59,293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59,301&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;140&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Available for sale financial assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;69,476&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(69,476)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;431,521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(8,680)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,158)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;421,685&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10,339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;29,959&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,300&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(245)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,055&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26,261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(15,622)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10,661&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;387,621&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(12,435)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,177)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;374,009&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Held to maturity investments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13,754&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13,754)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging derivatives &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,485&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of the hedged items in portfolio hedges of interest rate risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Joint ventures, associates and unconsolidated subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,588&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,589&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Insurance and reinsurance assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;421&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;421&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,191&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Intangible assets &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8,464&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8,464&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Tax assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16,888&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17,296&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other assets &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,359&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:204pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Non-current assets and disposal groups held for sale &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,853&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,832&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;690,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(770)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;689,414&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The change registered in the heading &amp;#8220;Financial assets held for trading&amp;#8221; is mainly due &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;to financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;assets affected by the activity of Global Markets, which are reclassified from &amp;quot;Financial assets at amortized cost&amp;quot;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The change registered in the heading &amp;quot;Available for sale financial assets&amp;quot; are mainly due to the reclassification to the new heading &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;quot;Financial assets at fair value through other comprehensive income&amp;quot;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The change registered in the heading &amp;#8220;Financial assets at amortized cost&amp;#8221; is mainly due &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;to the reclassification to the item &amp;quot;Financial assets held for trading&amp;quot;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;LIABILITIES AND EQUITY&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;December 2017 IAS 39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Classification and measurement of financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Impairment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Opening balance sheet 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial liabilities held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46,182&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34,601&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;80,783&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial liabilities designated at fair value through profit or loss &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,273&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,495&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial liabilities at amortized cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;543,713&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(37,595)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;506,118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Deposits from central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;37,054&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3,261)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33,793&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Deposits from credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;54,516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(19,381)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;35,135&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Customer Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;376,379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(12,690)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;363,689&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;63,915&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2,266)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;61,649&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,850&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,851&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(112)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,768&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of the hedged items in portfolio hedges of interest rate risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Liabilities under insurance and reinsurance contracts &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9,223&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Provisions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,602&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Tax liabilities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,298&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,291&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other liabilities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,550&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:204pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Liabilities included in disposal groups classified as held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17,197&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17,188&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;636,736&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;637,010&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;SHAREHOLDERS&amp;#8217; FUNDS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;53,283&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(923)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;52,432&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Capital&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Share premium&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Retained earnings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,612&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(923)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22,760&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Revaluation reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Less: Treasury shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(96)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(96)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Profit or loss attributable to owners of the parent&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,519&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Less: Interim dividends&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,043)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,043)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6,939)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(109)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7,036)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:204pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;MINORITY INTERESTS (NON-CONTROLLING INTEREST)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,979&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,008&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL EQUITY&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;53,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(902)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;52,404&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL EQUITY AND TOTAL LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;690,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(770)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;689,414&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The change registered in the heading &amp;#8220;Financial liabilities held for trading&amp;#8221; is mainly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;due to financial liabilities affected by the activity of Global Markets, which are reclassified from &amp;quot;Financial liabilities at amortized cost&amp;quot;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hange registered in the heading &amp;#8220;Financial liabilities at amortized cost&amp;#8221; is mainly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;due to the reclassification to &amp;quot;Liabilities held for trading&amp;quot;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory>
  <bbva:Disclosureofentityinformationaexplanatory id="ID_15" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;3.    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;BBVA Group&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group is an international diversified financial group with a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;significant presence in retail banking, wholesale banking, asset management and private banking&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. The Group also operates in other &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sectors such as insurance, real estate, operational leasing, etc.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following information is detailed in the Appendices of the Consolidated Financial Statements of the Group:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Appendix I shows relevant information related to the consolidated subsidiaries &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;and structured entities.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Appendix II shows relevant information related to investments in subsidiaries, joint ventures and associates accounted for using the equity method. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Appendix III shows the main changes and notification of investments and divestment&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;s in the BBVA Group.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Appendix IV shows fully consolidated subsidiaries with more than 10% owned by non-Group shareholders&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following table sets forth information related to the Group&amp;#8217;s total assets as of December 31, 2018, 2017 and 2016, broken down by&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the Group&amp;#8217;s entities according to their activity:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Contribution to Consolidated Group Total Assets. Entities by Main Activities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Banks and other financial services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;647,164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;659,414&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;699,592&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Insurance and pension fund managing companies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,732&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,831&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other non-financial services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,793&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,433&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;676,689&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;690,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;731,856&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The total assets and results of operations broken down by the geographical areas, in which the BBVA Group operates, are included in Note 6.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;The BBVA Group&amp;#8217;s activities are mainly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;located in Spain, Mexico, South America, the United States and&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Turkey, with active presence in other countries&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;, as shown below:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group&amp;#8217;s activity in Spain is mainly through Banco Bilbao Vizcaya Argentaria, S.A., which is the parent company of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;BBVA Group. The Group also has other entities that operate in Spain&amp;#8217;s banking sector, insurance sector, real estate sector, services and as operational leasing entities.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;M&amp;#233;xico&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;The BBVA Group operates in Mexico, not only in the banking sector, but also in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;the insurance sector through Grupo Financiero Bancomer.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;South&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; America&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;Group&amp;#8217;s activities in South America are mainly focused on the banking, financial and insurance sectors, in the following countries: Argentina, Chile, Colombia, Peru, Paraguay, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;Uruguay and Venezuela. It has a representative office in Sao Paulo (Brazil).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;The Group owns more&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; than 50% of most of the entities based in these countries. Appendix I shows a list of the entities which, although less than 50% owned by the BBVA Group as of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;December 31, 2018, are consolidated (see Note 2.1).&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group&amp;#8217;s activity in the United States is mainly carried out through a group of entities with BBVA Compass Bancshares, Inc. at their head, as well as, the New York BBVA branch and a r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;epresentative office in Silicon Valley (California).&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;The Group&amp;#8217;s activity in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Turkey&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt; is mainly carried out through the Garanti Group.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group&amp;#8217;s activity in Europe is carried out through banks and financial institutions in Ireland, S&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;witzerland, Italy, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;Netherlands&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, Finland and Romania, branches in Germany, Belgium, France, Italy Portugal and the United Kingdom, and a representative office in Moscow.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Asia-Pacific&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0D0D0D;' &gt;The Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#8217;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;s activity in this region is carried out through branches (in Ta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt;ipei, Tokyo, Hong Kong &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Singapore&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0D0D0D;' &gt; and Shanghai) and representative offices (in Beijing, Seoul, Mumbai, Abu Dhabi and Jakarta).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;text-decoration:underline;margin-left:0pt;color:#094FA4;' &gt;Main transactions in the Group in 2018&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0070C0;' &gt;Divestitures &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#009EE5;' &gt;Sale of BBVA&amp;#8217;s stake in BBVA Chile&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On November 28, 2017, BBVA received a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;binding offer (the &amp;#8220;Offer&amp;#8221;) from The Bank of Nova Scotia group (&amp;#8220;Scotiabank&amp;#8221;) for the acquisition of BBVA&amp;#8217;s stake in Banco Bilbao Vizcaya Argentaria Chile, S.A. (&amp;#8220;BBVA Chile&amp;#8221;) as well as in other companies of the Group in Chile with operations that are com&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;plementary to the banking business (amongst them, BBVA Seguros Vida, S.A.). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;BBVA owned approximately, directly and indirectly, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;68.19% of BBVA Chile share capital&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. On December 5, 2017, BBVA accepted the Offer and entered into a sale and purchase agreement a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nd the sale was completed on July 6, 2018. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The consideration received in cash by BBVA as consequence of the referred sale amounts to, approximately, USD &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;2,200&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million. The transaction results in a capital gain, net of taxes, of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;633&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, which was rec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ognized in 2018.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#009EE5;' &gt;Agreement for the creation of a joint-venture and transfer of the Real - Estate business in Spain&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On November 29, 2017, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;BBVA reached an agreement with a subsidiary of Cerberus Capital Management, L.P. (&amp;#8220;Cerberus&amp;#8221;) for the creation of a &amp;#8220;j&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;oint venture&amp;#8221; to which an important part of the real estate business of BBVA in Spain is transferred (the &amp;#8220;Business&amp;#8221;).&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Business comprises: (i) foreclosed real estate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; assets (the &amp;#8220;REOs&amp;#8221;), with a gross book value of approximately &amp;#8364;13,000 million, taking as starting point the position of the REOs as of June 26, 2017; and (ii) the necessary assets and employees to manage the Business in an autonomous manner. For the purpo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;se of the agreement with Cerberus, the whole Business was valued at approximately &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;5,000&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On October 10, 2018, after obtaining all required authorizations, BBVA completed the transfer of the real estate business in Spain. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Closing of the transaction&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; has resulted in the sale of 80% of the share capital of the company Divarian Propiedad, S.A. to an entity managed by Cerberus&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Divarian is the company to which the BBVA Group has contributed the Business provided that the effective transfer of several rea&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;l estate assets (REO&amp;#180;s) remains subject to the fulfilment of certain conditions precedent. The final price payable by Cerberus will be adjusted depending on the volume of REO&amp;#180;s effectively contributed.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, the transaction did not have &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;a significant impact on BBVA Group&amp;#8217;s attributable profit or the Common Equity Tier 1 (fully loaded).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;text-decoration:underline;margin-left:0pt;color:#094FA4;' &gt;Main transactions in the Group in 2017&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0070C0;' &gt;Investments&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt; On February 21, 2017, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;BBVA Group entered into an agreement for the acquisition from Dogus Holding A.S. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;and Dogus Arastirma Gelistirme ve Musavirlik Hizmetleri A.S of 41,790,000,000 shares of Turkiye Garanti Bankasi, A.S. (&amp;#8220;Garanti Bank&amp;#8221;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, amounting to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;9.95%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of the total issued share capital of Garanti Bank. On March 22, 2017, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the sale and purchase agreement&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; was completed, and therefore BBVA&amp;#180;s total stake in Garanti Bank as of December 31, 2017 amounts to 49.85%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; (See Note 31).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;text-decoration:underline;margin-left:0pt;color:#094FA4;' &gt;Main transactions in the Group in 2016&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#0070C0;' &gt;Mergers&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group, at its Board of Directors meeting held on March 31, 2016, adopted a res&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;olution to begin a merger process of BBVA S.A. (absorbing company), Catalunya Banc, S.A., Banco Depositario BBVA, S.A. y Unoe Bank, S.A.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This transaction was part of the corporate reorganization of its banking subsidiaries in Spain, was successfully comple&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ted throughout 2016 and has no impact in the Consolidated Financial Statements both from the accounting and the solvency stand points.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofentityinformationaexplanatory>
  <bbva:Disclosureshareholderremunerationsystemexplanatory id="ID_16" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;4.    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Shareholder remuneration system&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA&amp;#8217;s shareholder remuneration policy communicated in October 2013 established the distribution of an annual pay-out of between 35% and 40% of the profits earned in each year and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the progressive reduction of the remuneration via &amp;#8220;Dividend Options&amp;#8221;, so that the shareholders&amp;#8217; remuneration would ultimately be fully in cash. As announced on February 1, 2017, BBVA&amp;#8217;s Board of Directors executed a capital increase to be charged to volunta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ry reserves for the instrumentation of the last &amp;#8220;Dividend Option&amp;#8221;, being the subsequent shareholders&amp;#8217; remunerations fully in cash, dated March 29, 2017&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This fully &amp;#8211; in - cash shareholders&amp;#8217; remuneration policy would be composed, for each year, of a distri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;bution on account of the dividend of such year (expected to be paid in October) and a final dividend (which would be paid once the year has ended and the profit allocation has been approved, expected for April), subject to the applicable authorizations by &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the competent governing bodies.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Shareholder remuneration scheme &amp;#8220;Dividend Option&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;During 2012, 2013, 2014, 2015, 2016 and 2017, the Group implemented a shareholder remuneration system referred to as &amp;#8220;Dividend Option&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Under such remuneration scheme, BBVA &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;offered its shareholders the possibility to receive all or part of their remuneration in the form of newly-issued BBVA ordinary shares, whilst maintaining the possibility for BBVA shareholders to receive their entire remuneration in cash by selling the rig&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hts of free allocation assigned either to BBVA (in execution of the commitment assumed by BBVA to acquire the rights of free allocation at a guaranteed fixed price) or by selling the rights of free allocation on the market at the prevailing market price at&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; that time. However, the execution of the commitment assumed by BBVA was only available to whoever had been originally assigned such rights of free allocation and only in connection with the rights of free allocation initially allocated at such time.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On Ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rch 29, 2017, BBVA&amp;#8217;s Board of Directors resolved to execute the capital increase to be charged to voluntary reserves approved by the Annual General Meeting (&amp;#8220;AGM&amp;#8221;) held on March 17, 2017, under agenda item three, to implement a &amp;#8220;Dividend Option&amp;#8221; this year.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; As a result of this increase, the Bank&amp;#8217;s share capital increased by &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;49,622,955.62 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;through the issuance of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;101,271,338&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; newly-issued BBVA ordinary shares at &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;0.49&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; euros par value, given that &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;83.28%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of owners of the rights of free allocation opted to receive&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; newly issued BBVA ordinary shares. The remaining &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;16.72%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of the owners of the rights of free allocation exercised the commitment assumed by BBVA, and as a result, BBVA acquired &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1,097,962,903&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; rights (at a gross price of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;0.131&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; each) for a total amount of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;43,833,140.29&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. This amount is recorded in &amp;#8220;Total Equity-Dividends and Remuneration&amp;#8221; of the consolidated balance sheet as of December 31, 2017 (see Note 26).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On September, 28 2016, BBVA&amp;#8217;s Board of Directors resolved to execute the second of the share capita&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;l increases to be charged to voluntary reserves, as agreed by the AGM held on March 11, 2016. As a result of this increase, the Bank&amp;#8217;s share capital increased by &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;42,266,085.33&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; through the issuance of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;86,257,317&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; newly-issued BBVA ordinary shares at &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;0.49&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; eu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ros par value, given that &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;87.85%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of owners of the rights of free allocation opted to receive newly-issued BBVA ordinary shares. The remaining &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;12.15%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of the owners of the rights of free allocation exercised the commitment assumed by BBVA, and as a result, B&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;BVA acquired &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;787,374,942&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; rights (at a gross price of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;0.08&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; each) for a total amount of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;62,989,995.36&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. This amount is recorded in &amp;#8220;Total Equity-Dividends and Remuneration&amp;#8221; of the consolidated balance sheet as of December 31, 2016 (see Note 26).&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On March 3&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1, 2016, BBVA&amp;#8217;s Board of Directors resolved to execute the first of the share capital increases to be charged to voluntary reserves, as agreed by the AGM held on March 11, 2016 for the implementation of the shareholder remuneration system called the &amp;#8220;Divid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;end Option&amp;#8221;. As a result of this increase, the Bank&amp;#8217;s share capital increased by &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;55,702,125.43&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; through the issuance of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;113,677,807&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; newly-issued BBVA ordinary shares at a &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;0.49&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; par value, given that &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;82.13%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of owners of the rights of free allocation opted t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;o receive newly-issued BBVA ordinary shares. The remaining &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;17.87%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of the owners of the rights of free allocation exercised the commitment assumed by BBVA, and as a result, BBVA acquired &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1,137,500,965&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; rights (at a gross price of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;0.129&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; each) for a total amo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;unt of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;146,737,624.49&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. This amount is recorded in &amp;#8220;Total Equity- Dividends and Remuneration&amp;#8221; of the consolidated balance sheet as of December 31, 2016 (see Note 26).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Cash Dividends&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Throughout 2016, 2017 and 2018, BBVA&amp;#8217;s Board of Directors approved the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;payment of the following dividends (interim or final dividends) fully in cash, recorded in &amp;#8220;Total Equity- Interim Dividends&amp;#8221; of the consolidated balance sheet of the relevant year:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:12pt;' &gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The Board of Directors, at its meeting held on June 22, 2016, approved the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; payment in cash of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;0.08&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; (&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;0.0648&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; net of withholding tax) per BBVA share as the first gross interim dividend against 2016 results. The total amount paid to shareholders on July 11, 2016, after deducting treasury shares held by the Group&amp;#39;s companies, amoun&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;517&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million and is recognized under the headings &amp;#8220;Total Equity- Interim Dividends&amp;#8221; of the consolidated balance sheet as of December 31, 2016.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The Board of Directors, at its meeting held on December 21, 2016, approved the payment in cash of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;0.08&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; (&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;0.0648&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; withholding tax) per BBVA share, as the second gross interim dividend against 2016 results. The total amount paid to shareholders on January 12, 2017, after deducting treasury shares held by the Group&amp;#8217;s Companies, amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;525&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million and is rec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ognized under the heading &amp;#8220;Total Equity- Interim Dividends&amp;#8221; of the consolidated balance sheet as of December 31, 2016.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The Board of Directors, at its meeting held on September 27, 2017, approved the payment in cash of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;0.09&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; (&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;0.0729&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; net of withholding tax) per BBVA share, as the first gross interim dividend against 2017 results. The total amount paid to shareholders on October 10, 2017, after deducting treasury shares held by the Group&amp;#39;s companies, amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;599&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million and is rec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ognized under the heading &amp;#8220;Total Equity- Interim Dividends&amp;#8221; of the consolidated balance sheet as of December 31, 2017.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The Annual General Meeting of BBVA held on March 16, 2018 approved, under item 1 of the Agenda, the payment of a final dividend for 2017,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; in addition to other dividends previously paid, in cash for an amount equal to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;0.15&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; (&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;0.1215&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; net of withholding tax) per BBVA share. The total amount paid to shareholders on April 10, 2018, after deducting treasury shares held by the Group&amp;#8217;s companies, a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;mounted &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;996&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million and is recognized under heading &amp;#8220;Total Equity-  Final Dividends&amp;#8221; of the consolidated balance sheet as of December 31, 2018. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The Board of Directors, at its meeting held on September 26, 2018, approved the payment in cash of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;0.10&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; (&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;0.0&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;81&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; net of withholding tax rate of 19%) per BBVA share, as gross interim dividend based on 2018 results. The total amount paid to shareholders on October 10, 2018, after deducting treasury shares held by the Group&amp;#180;s companies, amounted &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;663&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million and is r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ecognized under heading &amp;#8220;Total Equity-  Interim Dividends&amp;#8221; of the consolidated balance sheet as of December 31, 2018.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The interim accounting statements prepared in accordance with legal requirements evidencing the existence of sufficient liquidity for the distribution of the amounts agreed on September 26, 2018, mentioned above are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Available Amount for Interim Dividend Payments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;August, 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Profit  of BBVA, S.A., after the provision for income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,462&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:432.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Additional Tier I capital instruments remuneration&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;236&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Maximum amount distributable&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;2,226&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Amount of proposed interim dividend&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;667&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;BBVA cash balance available to the date&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;4,577&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;Proposal on allocation of earnings for 2018&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The allocation of earnings for 2018 subject to the approval of the Board of Directors at the Annual Shareholders Meeting is presented below:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.15pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Allocation of Earnings (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.15pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Profit for year (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;2,316&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Distribution:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interim dividends&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;667&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Final dividend&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,067&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additional Tier 1 securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;313&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Voluntary reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;margin-left:0pt;' &gt;(*)  Net income of BBVA, S.A.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureshareholderremunerationsystemexplanatory>
  <ifrs-full:EarningsPerShareExplanatory id="ID_17" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;5.    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Earnings per share&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Basic and diluted earnings per share are calculated in accordance with the criteria established by IAS 33. For more information see Glossary of terms.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The calculation of earnings per share is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Basic and Diluted Earnings per Share&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Numerator for basic and diluted earnings per share (millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Profit attributable to parent company&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,324&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,475&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.15pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Adjustment: Additional Tier 1 securities (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(313)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(301)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(260)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Profit adjusted (millions of euros) (A)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;5,011&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,218&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,215&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Weighted average number of shares outstanding (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,468&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Weighted average number of shares outstanding x corrective factor (3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,592&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Adjusted number of shares - Basic earning per share (C)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,592&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Adjusted number of shares - diluted earning per share  (D)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,592&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Earnings per share (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Basic earnings per share from continued operations (Euros per share)A-B/C&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Diluted earnings per share from continued operations (Euros per share)A-B/D&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Remuneration in the year related to contingent convertible securities, recognized in equity (see Note 22.4).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Weighted average number of shares outstanding (millions of euros), excluding weighted average of treasury shares during the period.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(3)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Corrective factor, due to the capital increase with pre-emptive subscription right, applied for the previous years.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;As of December 31, 2018 the weighted average number of shares outstanding was 6,668 million (6,642 and 6,468 million as of December 31&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 2017 and 2016, respectively) and the adjustment of additional Tier 1 securities amounted to &amp;#8364;313 million (&amp;#8364;301 and &amp;#8364;260 million as of December 31, 2017 and 2016, respectively).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, there were no other financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;instruments or share option commitments to employees that could potentially affect the calculation of the diluted earnings per share for the years presented.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; For this reason, basic and diluted earnings per share are the same.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:EarningsPerShareExplanatory>
  <ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory id="ID_18" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;6.    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Operating segment reporting&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Operating segment reporting represents a basic tool in the oversight and management of the BBVA Group&amp;#8217;s various activities. The BBVA Group compiles reporting information on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;disaggregated business activities. These business activities are then aggregated in accordance with the organizational structure determined by the BBVA Group and, ultimately, into the reportable operating segments themselves. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;During 2018, there have not b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;een significant changes in the reporting structure of the operating segments of the BBVA Group, although its composition is different from the close of 2017, as a result of the agreement of the sale of BBVA Chile (see Note 3). This transaction, which has a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ffected South America&amp;#180;s area composition, is presented as follows, as well as the other operating segments within the BBVA Group:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Banking activity in Spain &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Includes, as in previous years, the Retail Network in Spain, Corporate and Business Banking (CBB), &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Corporate &amp;amp; Investment Banking (CIB), BBVA Seguros and Asset Management units in Spain. It also includes the loans to developers that are granted new or that are no longer in difficult conditions, as well as the portfolios, finance and structural interest-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rate positions of the euro balance sheet. &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Non Core Real - Estate&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;It &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;manages loans in Spain to developers &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;who were in difficulty and real estate assets, mainly from foreclosed properties, both residential mortgages and developers. On November 29, 2017, the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; BBVA Group signed a sale agreement with Cerberus for the subsequent sale of 80% of the company created to a subsidiary of Cerberus (see Note 3). The effective transfer of some real estate owned assets are subject to the fulfillment of certain conditions a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nd in the meanwhile, BBVA will continue to manage those assets.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Includes the Group&amp;#8217;s business activity in the country through the BBVA Compass Group and the BBVA New York branch.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;B&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;asically includes all the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;banking&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and insurance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;businesses carried out by the Group in the country. Since 2018 it has also included the BBVA Bancomer branch in Houston (in previous years located in the United States). Consequently, the figures from previous years have been recalculated to incorporate th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;is change and show comparable series.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Includes &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;activity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of the BBVA Group business in Turkey through Garanti Group. &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Includes BBVA&amp;#8217;s &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;banking&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and insurance businesses in the region. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;On July 6, 2018, the sale of BBVA Chile to The Ba&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nk of Nova Scotia (Scotiabank) (see Note 3) was completed which affects the comparability of the results, the balance sheet, the activity and the most significant ratios of this business area with prior periods.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Rest of Eurasia &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Includes &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;business&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;activity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in the rest of Europe and Asia, i.e. the Group&amp;#180;s retail and wholesale businesses in the area.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Lastly, the Corporate Center is comprised of the rest of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;assets and liabilities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; that have not been allocated to the operating segments, as it corresponds to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the Group&amp;#8217;s holding function. 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&amp;#8217;s global solvency; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;portfolios 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. As of December 31, 2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;018, it contains &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the 20% stake of BBVA in Divarian&amp;#180;s share capital (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the BBVA Group&amp;#8217;s total assets by operating segments as of December 31, 2018, 2017 and 2016, is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Total Assets by Operating Segments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017 (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016 (2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Banking Activity in Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;335,294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;319,417&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;335,847&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non Core Real Estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,714&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,713&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82,057&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;75,775&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88,902&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96,455&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;94,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;93,318&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66,250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78,694&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;84,866&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;52,385&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74,636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;77,918&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Eurasia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,106&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal Assets by Operating Segments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;654,605&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;669,562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;713,670&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Corporate Center &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,084&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,497&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,186&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Assets BBVA Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;676,689&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;690,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;731,856&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The figures &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;corresponding to 2017 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;have been restated (see Note 1.3).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Financial information for 2016 has not been revised to reflect changes in our operating segments in 2018, including the inclusion of BBVA Bancomer&amp;#8217;s branch in Houston (which was previou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sly part of our United States operating segment) in our Mexico operating segment since 2018. If BBVA Bancomer&amp;#8217;s branch in Houston had been part of our Mexico operating segment in 2016 (rather than of our United States operating segment), total assets of th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e United States and the Mexico operating segments would have been &amp;#8364;84,726 million and &amp;#8364;97,492 million, respectively, as of December 31, 2016.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The attributable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; profit and main earning figures in the consolidated income statements for the years ended December 31, 2018, 2017 and 2016 by operating segments are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='11' rowspan='1' style='width:483pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:BBVA Office Light;font-size:6pt;color:#000000;' &gt;Main Margins and Profits by Operating Segments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:183pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:183pt;' &gt;&lt;font style='font-family:BBVA Office Light;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:30pt;' &gt;&lt;font style='font-family:BBVA Office Light;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='9' rowspan='1' style='width:270pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:270pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Operating Segments&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;BBVA Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Non Core Real Estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Rest of Eurasia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Corporate Center&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Net interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,672&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,568&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,009&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(276)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:183pt;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23,747&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,193&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,901&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;415&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(432)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:183pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(129)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;919&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,448&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,307&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;144&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,420)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Profit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;55.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,324&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(78)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;735&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,384&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;569&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;93&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(494)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2017(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Net interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,738&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,476&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,331&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,200&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;180&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(357)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:183pt;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25,270&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,180&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,876&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,115&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:183pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,854&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(656)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;748&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2,013)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Profit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;55.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,374&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(490)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;486&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;826&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;861&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(1,848)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2016(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Net interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,953&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,930&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;166&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(455)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:183pt;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;24,653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,416&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,706&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,766&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,054&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;491&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:183pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(743)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;612&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,678&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,906&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;203&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,084)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Profit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;55.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,475&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;905&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(595)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,980&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;771&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(794)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The figures corresponding to 2017 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;have been restated (s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ee Note 1.3).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Financial information for 2016 has not been revised to reflect changes in our operating segments in 2018, including the inclusion of BBVA Bancomer&amp;#8217;s branch in Houston (which was previously part of our United States operating segment) in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;our Mexico operating segment since 2018. If BBVA Bancomer&amp;#8217;s branch in Houston had been part of our Mexico operating segment in 2016 (rather than of our United States operating segment), profit attributable to parent company for the United States and the Me&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;xico operating segments would have been &amp;#8364;442 million and &amp;#8364;1,997 million, respectively, for the year ended December 31, 2016.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory>
  <ifrs-full:DisclosureOfFinancialRiskManagementExplanatory id="ID_19" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;7.    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Risk management&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;General risk management and control model&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group has an overall risk management and control model (hereinafter &amp;#39;the model&amp;#39;) tailored to its business model, its organization and the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;geographies in which it operates, This model allows BBVA Group to develop its activity in accordance with the risk strategy and risk controls and management policies defined by the governing bodies of the Bank and to adapt to a changing economic and regula&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tory environment, tackling risk management globally and adapted to the circumstances at all times. The model establishes a system of appropriate risk management regarding risk profile and strategy of the Group.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This model is applied comprehensively in the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Group and consists of the basic elements listed below:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Governance and organization. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Risk Appetite Framework.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Decisions and processes.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Assessment, monitoring and reporting.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Infrastructure. &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:2.85pt;' &gt;The Group promotes the development&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of a risk culture which aims to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; ensure &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;consistent application of the risk management and control model i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n the Group, so&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; that the risk function is understood and assimilated at all levels of the organization.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.1   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Governance and organization&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA Group&amp;#180;s risk governance model is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;characterized by a special involvement of its corporate bodies, both in setting the risk strategy and in the ongoing monitoring and supervision of its implementation.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Thus, as developed below, the corporate bodies are the ones that approve this risk strate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;gy and corporate policies for the different types of risk. The risk function is responsible at management level for their implementation and development, and reporting to the governing bodies.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The responsibility for the daily management of the risks lies o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n the businesses which abide in the development of their activity to meet the policies, rules, procedures, infrastructures and controls, which are defined by the function risk on the basis of the framework set by the governing bodies.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;To perform this task &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;properly, the risk function in the BBVA Group is configured as a single, global function with an independent role from commercial areas.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Corporate bodies&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Board of Directors (hereinafter also referred to as &amp;quot;the Board&amp;quot;) approves the risk strategy a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nd oversees the internal management and control systems. Specifically, in relation to the risk strategy, the Board approves the Group&amp;#39;s risk appetite statement, the core metrics (and their statements) and the main metrics by type of risk, as well as the ge&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;neral risk management and control model.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Board of Directors is also responsible for approving and monitoring the strategic and business plan, the annual budget and management goals, as well as the investment and funding policy, in a consistent way and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in line with the approved Risk Appetite Framework. For this reason, the processes for defining the Risk Appetite Framework proposals and the strategic and budgetary planning at Group level are coordinated by the executive areas for submission to the Board.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the aim of integrating&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the Risk Appetite Framework into management, on the basis established by the Board of Directors, the Executive Committee approves the metrics by type of risk in relation to profitability and income recurrence and the Group&amp;#39;s ba&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sic structure of limits by geographical area, risk type, asset type and portfolio level. This committee also approves specific corporate policies for each type of risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Lastly, the Board has set up a Board committee specialized in risks, the Risk Committee&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, that assists the Board and the Executive Committee in determining the Group&amp;#39;s risk strategy and the risk limits and policies, respectively, analyzing and assessing beforehand the proposals submitted to those bodies. The Board of Directors has the exclusi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ve authority to amend the Group&amp;#8217;s risk strategy and its elements, including the Risk Appetite Framework metrics within its scope of decision, while the Executive Committee is responsible for amending the metrics by type of risk within its scope of decision&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and the Group&amp;#39;s basic structure of limits (core limits), when applicable. In both cases, the amendments follow the same decision-making process described above, so the proposals for amendment are submitted by the executive area (Chief Risk Officer, &amp;#8220;CRO&amp;#8221;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and analyzed by the Risk Committee, for later submission to the Board of Directors or to the Executive Committee, as appropriate.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Moreover, the Risk Committee, the Executive Committee and the Board itself conduct adequate monitoring of the risk strategy i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;mplementation and of the Group&amp;#39;s risk profile. The risk function regularly reports on the development of the Group&amp;#39;s Risk Appetite Framework metrics to the Board and to the Executive Committee, after the analysis by the Risk Committee, whose role in this m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;onitoring and control work is particularly relevant.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Risk Function: CRO. Organizational structure and committees&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The head of the risk function at executive level is the Group&amp;#8217;s CRO, who carries out his functions independently and with the necessary authori&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ty, rank, experience, knowledge and resources. He is appointed by the Board as a member of its senior management and has direct access to its corporate bodies (Board, Executive Standing Committee and Risk Committee), to whom he reports regularly on the sta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tus of risks in the Group. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The CRO is supported in the exercise of his functions by a structure consisting of cross-sectional risk units in the corporate area and the specific risk units in the geographical and/or business areas of the Group. Each of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;latter units is headed by a Chief Risk Officer for the geographical and/or business area who, within his/her area of responsibility, carries out risk management and control functions and is responsible for applying the corporate policies and rules approved&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; at Group level in a consistent manner, adapting them if necessary to local requirements and reporting to the local corporate bodies. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Chief Risk Officers of the geographical and/or business areas report both to the Group&amp;#39;s CRO and to the head of their&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; geographical and/or business area. The aim of this dua&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;l reporting system is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;that the local risk management function is independent from the operating functions and enable its alignment with the Group&amp;#39;s corporate risk policies and goals.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;margin-left:0pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;As explained above, the risk management function consists of risk units from the corporate area, which carry out cross-sectional functions, and risk units from the geographical and/or business areas. &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The corporate area&amp;#39;s risk units develop and submit to t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;he Group CRO the proposal for the Group&amp;#39;s Risk Appetite Framework, the corporate policies, rules and global procedures and infrastructures within the framework approved by t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;he corporate bodies; they monitor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; their application and report either directly or t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;hrough the CRO to the Bank&amp;#39;s corporate bodies. Their functions include:&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:53.4pt;color:#000000;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Management of the different types of risks at Group level in accordance with the strategy defined by the corporate bodies. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:53.4pt;color:#000000;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Risk planning aligned with the risk appetite framework p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;rinciples defined by the Group.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:53.4pt;color:#000000;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Monitoring and control of the Group&amp;#39;s risk profile in relation to the risk appetite framework approved by the Bank&amp;#39;s corporate bodies, providing accurate and reliable information with the required frequency and in the nece&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ssary format.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:53.4pt;color:#000000;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Prospective analyses to enable an evaluation of compliance with the risk appetite framework in stress scenarios and the analysis of risk mitigation mechanisms. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:53.4pt;color:#000000;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Management of the technological and methodological developments required for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;implementing the Model in the Group.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:53.4pt;color:#000000;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Design of the Group&amp;#39;s Internal Control model and definition of the methodology, corporate criteria and procedures for identifying and prioritizing the risk inherent in each unit&amp;#39;s activities and processes.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:53.4pt;color:#000000;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Validatio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;n of the models used and the results obtained by them in order to verify their adaptation to the different uses to which they are applied.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The risk units in the business units develop and present to the Chief Risk Officer of the geographical and/or busines&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;s area the risk appetite framework proposal applicable in each geographical and/or business area, independently and always within the Group&amp;#39;s strategy/Risk Appe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;tite Framework. They also monitor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; that the corporate policies and rules are approved and applied&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; consistently at a Group level, adapting them if necessary to local requirements; that they are provided with appropriate infrastructures for management and control of their risks, within the global risk infrastructure framework defined by the corporate ar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;eas; and that they report to their corporate bodies and/or to senior management, as appropriate.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The local risk units thus work with the corporate area risk units in order to adapt to the risk strategy at Group level and share all the information necessary for monitoring the development of their risks. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The risk function has a decision-making process &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;to perform its functions, underpinned by a structure of committees, where the Global Risk Management Committee (GRMC) acts as the top-level committee within the risk function. It proposes, examines and, where applicable, approves, among others, the interna&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;l risk regulatory framework and the procedures and infrastructures needed to identify, assess, measure and manage the material risks faced by the Group in carrying out its business, and the determination of risk limits by portfolio. The members of this Com&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;mittee are the Group&amp;#39;s CRO&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, the Heads of the main Areas of the GRM Front, the Heads of GRM Corporate Discipline Units and the Head of Risk Management Group of GRM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The GRMC carries out its functions assisted by various support committees which include: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;G&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;lobal Credit Risk Management Committee: It is responsible for analyzing and decision-making related to wholesale credit risk admission.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Wholesale Credit Risk Management Committee: its purpose is the analysis and decision-making regarding the admission of w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;holesale credit risk of certain customer segments of the BBVA Group.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Work Out Committee: &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;its purpose is to be informed about decisions taken under the delegation framework regarding risk proposals concerning clients on Watch List and clients classified as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;NPL of certain customer segments of the BBVA Group, as well the sanction of proposals regarding entries, exits and changes of Watch List, entries and exits in non-performing unlikely to pay and turns to written off&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Asset Allocation Committee: The executiv&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;e authority responsible for analyzing and deciding on credit risk issues related to processes aimed at achieving a portfolios combination and composition that, under the restrictions imposed by the Risk Appetite framework, allows to maximize the risk adjus&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ted return on equity.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Risk Models Management Committee: It ensures an appropriate decision-making process regarding the planning, development, implementation, use, validation and monitoring of the  models required to achieve an appropriate management of th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;e Model Risk in  the BBVA Group.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Global Markets Risk Unit Global Committee: It is responsible for formalizing, supervising and communicating the monitoring of trading desk risk in all the Global Markets business units, as well as coordinating and approving&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; GMRU key decisions activity, and developing and proposing to GRMC the co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;rporate regulation of the unit.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Operational Risk and Product Governance Corporate Admission Committee: It identifies, analyzes and assesses the operational risks associated initiative&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;s related with new business, products or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;services, outsourcing, process transformation and new systems, prior to its launch. As well, it will verify that Product Governance normative requirements are met and will decide about the insurance scheme (global p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;olicies). &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Retail Credit Risk Committee: It &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;provides&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; for the analysis, discussion and decision support on all issues regarding the retail credit risk management that impact or potentially do in the practices, processes and corporate metrics established in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the Policies, Rules and Operating Frameworks.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Asset Management Global Risk Steering Committee: its purpose is to develop and coordinate the strategies, policies, procedures, and infrastructure necessary to identify, assess, measure and manage the material &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;risks facing the bank in the operation of businesses linked to BBVA Asset Management.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Global Insurance Risk Committee: its purpose is to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;monitor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; and promote the alignment and the communication between all the Insurance Risk Units in the BBVA Group. It will&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; do this by promoting the application of standardized principles, policies, tools and risk metrics in the different regions with the aim of maintaining proper integration of insurance risk management in the Group.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;COPOR: its purpose is to analyze and make &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;decision in relation to the operations of the various geographies in which Global Markets is present.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Each geographical and/or business area has its own risk management committee (or committees), with objectives and contents similar to those of the corpora&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;te area, which perform their duties consistently and in line with corporate risk policies and rules, whose decisions are reflected in the corresponding minutes. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Under this organizational scheme, the risk management function &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;monitors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; that the risk strategy&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, the regulatory framework, and standardized risk infrastructures and controls are integrated and applied across the entire Group. It also benefits from the knowledge and proximity to customers in each geographical and/or business area, and transmits the c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;orporate risk culture to the Group&amp;#39;s different levels. Moreover, this organization enables the risks function to conduct and report to the corporate bodies integrated monitoring and control of the entire Group&amp;#39;s risks.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Internal Risk Control and Internal Va&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt;lidation&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group has a specific Internal Risk Control unit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. Its main function is to manage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; that there is an adequate internal regulatory framework, a process and measures defined for each type of risk identified in the Group (and for those other types of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; risk that may potentially affect the Group). It controls their application and operation, as well as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;integrating&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the risk strategy into the Group&amp;#39;s management. In this regard, the Internal Risk Control &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;monitors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; verifies the performance of their duties by &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the units that develop the risk models, manage the processes and execute the controls. Its scope of action is global, from the geographical point&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of view and the type of risks.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group&amp;#39;s Head of Internal Risk Control is responsible for the function and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;reports on its activities and informs of its work plans to the CRO and to the Board&amp;#39;s Risks Committee, assisting it in any matters where requested. For these purposes the Internal Risk Control department has a Technical Secretary&amp;#39;s Office, which offers the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; Committee the technical support it need&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s to better perform its duties.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, the Group has an Internal Validation unit, which reviews the performance of its duties by the units that develop the risk models and of those that use them in management. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Its functions include review and independent validation at internal level of the models used for management and control of risks in the Group.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.2   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Risk Appetite Framework&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group&amp;#39;s Risk Appetite Framework, approved by the corporate bodies, determines&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the risks (and their level) that the Group is willing to assume to achieve its business objectives considering an organic evolution of its business. These are expressed in terms of solvency, profitability and liquidity and funding, which are reviewed peri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;odically as well as in case of material changes to the entity&amp;#8217;s business or relevant corporate transactions. The definition of the risk appetite has the following goals:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;To express the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;maximum levels of risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; it is willing to assume, at both Group and geogr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;aphical and/or business area level.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;To establish a set of guidelines for action and a management framework &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;for the medium and long term that prevent actions from being taken (at both Group and geographical and/or business area level) that could compromise &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the future viability of the Group.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;To establish a framework for relations with the geographical and/or business areas that, while preserving their decision-making autonomy, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;monitors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; they act consistently, avoiding uneven behavior.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;To establish a common &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;language throughout the organization and develop a compliance-oriented risk culture.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Alignment with the new regulatory requirements, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;facilitating communication with regulators, investors and other stakeholders, thanks to an integrated and stable risk manag&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ement framework.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Risk appetite framework is expressed through the following elements:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Risk Appetite Statement&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;It sets out the general principles of the Group&amp;#39;s risk strategy and the target risk profile. The 2018 Group&amp;#8217;s Risk appetite statement is as follow&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA Group&amp;#39;s Risk Policy is aimed to promote a multichannel and responsible universal banking model, based on principles, targeting sustainable growth, risk adjusted profitability and recurrent value creation. To achieve these objectives, the Risk Manag&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ement Model is oriented to maintain a moderate risk profile that allows the Group to keep strong financial fundamentals in adverse environments preserving our strategic goals, maintaining a prudent management, an integral view of risks, and a portfolio div&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ersification by geography, asset class and client segment, focusing on keeping a long term relationship with our customers.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Core metrics &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Based on the risk appetite statement, statements are established to set down the general risk management principles i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n terms of solvency, liquidity and funding, profitability and income recurrence.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Solvency: a sound capital position, maintaining resilient capital buffer from regulatory and internal requirements that supports the regular development of banking activity ev&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;en under stress situations. As a result, BBVA proactively manages its capital position, which is tested under different stress scenarios from a regular basis.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Liquidity and funding: A sound balance-sheet structure to sustain the business model. Maintenance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; of an adequate volume of stable resources, a diversified wholesale funding structure, which limits the weight of short term funding and ensures the access to the different funding markets, optimizing the costs and preserving a cushion of liquid assets to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;overcome a liquidity survival period under stress scenarios.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Profitability and income recurrence: A sound margin-generation capacity supported by a recurrent business model based on the diversification of assets, a stable funding and a customer focus; comb&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ined with a moderate risk profile that limits the credit losses even under stress situations; all focused on allowing income stability and maximizing the risk-adjusted profitability.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The core metrics define, in quantitative terms, the principles and the ta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rget risk profile set out in the risk appetite statement and are in line with the strategy of the Group. Each metric has three thresholds (traffic-light approach) ranging from a standard business management to higher deterioration levels: Management refere&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nce, Maximum appetite and Maximum capacity.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The 2018 Group&amp;#8217;s Core metrics are:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;By type of risk metrics &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Based on the core metrics, statements are established for each type of risk reflecting the main principles governing the management of that risk and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; several metrics are calibrated, compliance with which enables compliance with the core metrics and the risk appetite statement of the Group. The metrics by type of risk have a maximum appetite threshold.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Basic limits structure (core limits) &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The purpose &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of the basic limits structure or core limits is to shape the Risk Appetite Framework at geographical area risk type, asset type and portfolio level, ensuring that the management of risks on an ongoing basis is within the thresholds set forth for by type of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; risk.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition to this framework, there&amp;#8217;s a level of management limits that is defined and managed by the risk function developing the core limits, in order to ensure that the anticipatory management of risks by subcategories or by subportfolios compli&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;es with that core limits and, in general, with the Risk Appetite Framework.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The corporate risk area works with the various geographical and/or business areas to define thei&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;r risk appetite framework, which will be coordinated with and integrated into the Group&amp;#39;s risk appetite to ensure that its profile fits as defined.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Risk Appetite Framework is integrated into the management and the processes for defining the Risk Appeti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;te Framework proposals and strategic and budgetary planning at Group level are coordinates.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As explained above, the core metrics of BBVA Risk Appetite Framework measure Groups performance in terms of solvency, liquidity and funding, profitability and incom&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e recurrence; most of the core metrics are accounting related or regulatory metrics which are published regularly to the market in the BBVA Group annual report and in the quarterly financial reports. During 2018, the Group risk profile evolved in line with&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the Risk Appetite metrics.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.3   Decisions and processes&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The transfer of risk appetite framework to ordinary management is supported by three basic aspects:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;A standardized set of regulations.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Risk planning.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Comprehensive management of risks over their &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;life cycle.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Standardized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt;regulatory framework&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The corporate risk area is responsible for the definition and proposal of the corporate policies, specific rules, procedures and schemes of delegation based on which risk decisions should be taken within the G&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;roup.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This process aims for the following objectives: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Hierarchy and structure: well-structured information through a clear and simple hierarchy creating relations between documents that depend on each other.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Simplicity: an appropriate and sufficient numbe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;r of documents.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Standardization: a standardized name and content of document.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Accessibility: ability to search for, and easy access to, documentation through the corporate risk management library.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The approval of corporate policies for all types of risks i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s the responsibility of the corporate bodies of the Bank, while the corporate risk area endorses the remaining regulations.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Risk units of geographical and / or business areas comply with this set of regulations and, where necessary, adapt it to local requi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rements for the purpose of having a decision process that is appropriate at local level and aligned with the Group policies. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;If such adaptation is necessary, the local risk area must inform the corporate area of GRM, who must ensure the consistency of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;regulatory body at the Group level and, therefore, if necessary, give prior approval to the modifications proposed by the local risk areas.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Risk planning&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Risk planning monitors that the risk appetite framework is integrated into management through a cascad&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e process for establishing limits and profitability adjusted to the risk profile, in which the function of the corporate area risk units and the geographical and/or business areas is to guarantee the alignment of this process with the Group&amp;#39;s Risk Appetite&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; Framework in terms of solvency, liquidity and funding, profitability and income recurrence.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;There are tools in place that allow the Risk Appetite Framework defined at aggregate level to be assigned and monitored by business areas, legal entities, types of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; risk, concentrations and any other level considered necessary. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The risk planning process is aligned and taken into consideration within the rest of the Group&amp;#39;s planning framework so as to ensure consistency.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Comprehensive management&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt; &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;All risks must be managed comprehensively during their life cycle, and be treated differently depending on the type. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The risk management cycle is composed of five elements:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Planning: with the aim of ensuring that the Group&amp;#39;s activities are consistent with&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; the target risk profile and guaranteeing solvency in the development of the strategy.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Assessment: a process focused on identifying all the risks inherent to the activities carried out by the Group.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Formalization: includes the risk origination, approval an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;d formalization stages.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Monitoring and reporting: continuous and structured monitoring of risks and preparation of reports for internal and/or external (market, investors, etc.) consumption.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Active portfolio management: focused on identifying business oppo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;rtunities in existing portfolios and new markets, businesses and products.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.4   Assessment, monitoring and reporting&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Assessment, monitoring and reporting is a cross-cutting element that monitors that the Model has a dynamic and proactive vision to enabl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e compliance with the risk appetite framework approved by the corporate bodies, even in adverse scenarios. The materialization of this process has the following objectives:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Assess compliance with the risk appetite framework at the present time,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; through mon&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;itoring of the core metrics, metrics by type of risk and the basic structure of limits. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Assess compliance with the risk appetite framework in the future&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;, through the projection of the risk appetite framework variables, in both a baseline scenario determin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ed by the budget and a risk scenario determined by the stress tests.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Identify and assess the risk factors and scenarios that could compromise compliance with the risk appetite framework, through the development of a risk repository and an analysis of the i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;mpact of those risks.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Act to mitigate the impact in the Group of the identified risk factors and scenarios, ensuring this impact remains within the target risk profile.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Supervise&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; the key variables &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;that are not a direct part of the risk appetite framework, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;but that condition its compliance. These can be either external or internal.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This process is integrated in the activity of the risk units, both of the corporate area and in the business units, and it is carried out during the following phases:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Identificati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;on of the risk factors that can compromise the performance of the Group or of the geographical and/or business areas in relation to the defined risk thresholds.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Assessment of the impact of the materialization of the risk factors on the metrics that define &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the Risk Appetite Framework based on different scenarios, including stress scenarios.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Response to unwanted situations and proposals for readjustment to enable a dynamic management of the situation, even before it takes place.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Monitoring of the Group&amp;#39;s risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; profile and of the identified risk factors, through internal, competitor and market indicators, among others, to anticipate their future development. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Reporting: Complete and reliable information on the development of risks for the corporate bodies and se&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;nior management, with the frequency and completeness appropriate to the nature, significance and complexity of the reported risks. The principle of transparency governs al reporting of risk information.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.5   Infrastructure&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The infrastructure is an &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;element that must manage that the Group has the human and technological resources needed for effective management and supervision of risks in order to carry out the functions set out in the Group&amp;#39;s risk Model and the achievement of their objectives.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;espect to human resources, the Group risk function has an adequate workforce, in terms of number, skills, knowledge and experience.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With regards to technology, the Group risk function manages the integrity of management information systems and the provisio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n of the infrastructure needed for supporting risk management, including tools appropriate to the needs arising from the different types of risks for their admission, management, assessment and monitoring. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The principles that govern the Group risk technol&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ogy are:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Standardization: the criteria are consistent across the Group, thus ensuring that risk handling is standardized at geographical and/or business area level.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Integration in management: the tools incorporate the corporate risk policies and are applie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;d in the Group&amp;#39;s day-to-day management.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Automation of the main processes making up the risk management cycle.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Appropriateness: provision of adequate information at the right time.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Through the &amp;#8220;Risk Analytics&amp;#8221; function, the Group has a corporate framework i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n place for developing the measurement techniques and models. It covers all the types of risks and the different purposes and uses a standard language for all the activities and geographical/business areas and decentralized execution to make the most of th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e Group&amp;#39;s global reach. The aim is to continually evolve the existing risk models and generate others that cover the new areas of the businesses that develop them, so as to reinforce the anticipation and proactiveness that characterize the Group&amp;#39;s risk fun&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ction.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Also the risk units of geographical and / or business areas have sufficient means from the point of view of resources, structures and tools to develop a risk management in line with the corporate model.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.6   Risk culture&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group promotes t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he development of a risk culture based on the observance and understanding of values, attitudes, and behaviors that allow the compliance with the regulations and frameworks that contribute to an appropriate risk management.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;At BBVA the Risk Governance Mode&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;l is characterized by a special involvement of social bodies, as they define the risk culture that permeates the rest of the organization and has the following main elements:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Our Purpose which defines our reason to be and with our values and behaviors guid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;e the performance of our organization and the people who are part of it.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The Risk Appetite Framework which determines the risks and levels of risks that the Group is willing to assume in order to fulfill its goals.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The Code of Conduct establishes the behav&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ior guidelines that we must follow to adjust our behavior to the BBVA values.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Risk Culture at BBVA is based on these levers:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Communication: The BBVA Group promotes the dissemination of the principles and values that should govern the conduct and risk &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;management in a comprehensive and consistent manner. To do this, the most appropriate channels of communication are used, to allow for the Risk culture to be integrated into the business activities at all levels of the organization.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Training: The BBVA Grou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;p favors the understanding of the values, risk management model, and the code of conduct in all scenarios, ensuring standards in skills and knowledge.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Motivation: The BBVA Group aims to define incentives for BBVA employees that support the risk culture at &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;all levels. Among these incentives, the role of the Compensation policy and incentive programs stand out, as well as implementation of risk culture control mechanisms, including the complaint channels and the disciplinary committees.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Monitoring: The BBVA G&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;roup pursues at the highest levels of the organization a continuous evaluation and monitoring of the risk culture to guarantee its implementation and identification of areas for improvement.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.2   Risk factors&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As mentioned earlier, BBVA has processes in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;place for identifying risks and analyzing scenarios that enable the Group to manage risks in a dynamic and proactive way.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The risk identification processes are forward looking to ensure the identification of emerging risks and take into account the concern&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s of both the business areas, which are close to the reality of the different geographical areas, and the corporate areas and senior management. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Risks are captured and measured consistently using the methodologies deemed appropriate in each case. Their me&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;asurement includes the design and application of scenario analyses and stress testing and considers the controls to which the risks are subjected.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As part of this process, a forward projection of the risk appetite framework variables in stress scenarios is&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; conducted in order to identify possible deviations from the established thresholds. If any such deviations are detected, appropriate measures are taken to keep the variables within the target risk profile.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;To this extent, there are a number of emerging ri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sks that could affect the Group&amp;#8217;s business trends. These risks are described in the following main sections:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Macroeconomic and geopolitical risks&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Global economic growth maintained robust in 2018 even if it slowed down more than expected during the second h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;alf of the year as a result of the worse development of the trade and the industrial sector as well as the strong increase in financial tensions, especially in developed economies due to the rise of uncertainties. To the worse economic development in Europ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e and in China, it has to be added the downturn in Asian countries and the deterioration in the expansive cycle of the United States. In this context, both the Federal Reserve (Fed) and the ECB have demonstrated to be more prudent and patient at the time o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;f advancing with the normalization of their monetary policies and their future decisions will depend on the economic evolution. The main risk at sort-term continues to be protectionism not only for the direct effect on global trade, but also for the indire&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ct impact of lower confidence and financial volatility. To this, it has to be added the concerns about the degree of the impact on the economic activities in the United States and China in the following quarters have to be added as well as the increased po&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;litical uncertainty in Europe.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In summary, the uncertainty related to the economic perspectives continues to be elevated due to the fear of a protectionist escalation and a higher perception of the risk related to the global economic growth.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Regulatory an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#000000;' &gt;d reputational risks&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Financial institutions are exposed to a complex and ever-changing regulatory environment defined by governments and regulators. This can affect their ability to grow and the capacity of certain businesses to develop, and result in stri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;cter liquidity and capital requirements with lower profitability ratios. The Group constantly monitors changes in the regulatory framework that allow for anticipation and adaptation to them in a timely manner, adopt industry practices and more efficient an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;d rigorous criteria in its &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;implementation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The financial sector is under ever closer scrutiny by regulators, governments and society itself. In the course of activities, situations which might cause relevant reputational damage to the entity could raise an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;d might affect the regular course of business. The attitudes and behaviors of the Group and its members are governed by the principles of integrity, honesty, long-term vision and industry practices through, inter alia, internal control Model, the Code of C&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;onduct, tax strategy and Responsible Business Strategy of the Group.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' &gt;Business, operational and legal risks&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;New technologies and forms of customer relationships: Developments in the digital world and in information technologies pose significant challenges f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;or financial institutions, entailing threats (new competitors, disintermediation&amp;#8230;) but also opportunities (new framework of relations with customers, greater ability to adapt to their needs, new products and distribution channels...). Digital transformatio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;n is a priority for the Group as it aims to lead digital banking of the future as one of its objectives.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Technological risks and security breaches: The Group is exposed to new threats such as cyber-attacks, theft of internal and customer databases, fraud i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;n payment systems, etc. that require major investments in security from both the technological and human point of view. The Group gives great importance to the active operational and technological risk management and control. One example was the early adop&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;tion of advanced models for management of these risks (AMA - Advanced Measurement Approach).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The financial sector is exposed to increasing litigiousness, such that financial institutions face a large number of proceedings of every kind -civil, criminal, ad&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ministrative and otherwise-, as well as supervisory investigations, in multiple jurisdictions, the consequences of which are difficult to determine (including those proceedings where an undetermined number of claimants is involved, where damages claimed ar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;e not easy to estimate, where exorbitant amounts are claimed, where novel legal questions are introduced using new, creative legal theories and where proceedings are at a very early stage).&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;In Spain, in many current proceedings claimants seek, both at Span&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ish courts and through preliminary rulings sought from the European Union Court of Justice, that various clauses typically included within mortgage loan agreements with credit institutions be declared abusive (including clauses related to mortgage fees, ea&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;rly termination rights, reference interest rates and arrangement fees). Unfavorable resolutions of such proceedings against the Group or against other banking entities may directly or indirectly affect the Group. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;The BBVA Group is under regulatory investi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;gations in several countries which may give rise to sanctions and claims for damages by third parties.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;The Group may likewise be subject to investigations by legal authorities, of which we have not heretofore received formal notice to such effect, in rela&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;tion with the contracting of supposedly irregular services, that may have a negative reputational or economic impact on the Bank. The Bank is undertaking a forensic investigation, led by PwC, through the Bank&amp;#8217;s external legal counsel Garrigues, together wi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;th Ur&amp;#237;a, the scope or duration of which it is not currently possible to predict, nor is it possible to predict the outcome or implications for the Group of any such investigation by the legal authorities.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;The BBVA Group undertakes constant management and m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;onitoring of legal and regulatory investigations, proceedings and actions where its interests may be defended, and allocates (on the basis of the number of disputes, rulings and the state of proceedings or actions) what we believe are the appropriate provi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;sions where necessary. Nevertheless, the results of judicial or regulatory investigations, proceedings or actions, whether to which the Bank is currently party, to which it may be party in the future, or to which other banking entities are party, are diffi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;cult to predict, and if jurisprudential criteria are modified or unexpected results occur, such allocated provisions may prove insufficient&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.3    Credit risk&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Credit risk arises from the probability that one party to a financial instrument will fail to meet its contractual obligations for reasons of insolvency or inability to pay and cause a financial loss for the other party. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;It is the most important risk for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the Group and includes counterparty risk, issuer risk, settlement risk and country risk management. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The principles underpinning credit risk management in BBVA are as follows:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Availability of basic information for the study and proposal of risk, and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;supporting documentation for approval, which sets out the conditions required by the internal relevant body&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Sufficient generation of funds and asset solvency of the customer to assume principal and interest repayments of loans owed&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Establishment of ade&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;quate and sufficient guarantees that allow effective recovery of the transaction, this being considered a secondary and exceptional method of recovery when the first has failed.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Credit risk management in the Group has an integrated structure for all its fu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nctions, allowing decisions to be taken objectively and independently throughout the life cycle of the risk. &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;At Group level: frameworks for action and standard rules of conduct are defined for handling risk, specifically, the circuits, procedures, structu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;re and supervision.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;At the business area level: they are responsible for adapting the Group&amp;#39;s criteria to the local realities of each geographical area and for direct management of risk according to the decision-making circuit:&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.4pt;color:#000000;' &gt;- Retail risks: in general, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the decisions are formalized according to the scoring tools, within the general framework for action of each business area with regard to risks. The changes in weighting and variables of these tools must be validated by the GRM area. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:8pt;line-height:12.95pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.4pt;color:#000000;' &gt;- Wholesale risks: in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; general, the decisions are formalized by each business area within its general framework for action with regard to risks, which incorporates the delegation rule and the Group&amp;#39;s corporate policies.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.3.1   Measurement Expected Credit Loss (ECL)&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;IFRS 9 req&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;uires determining the expected credit loss of a financial instrument in a way that reflects an unbiased estimation removing any conservatism or optimism, the time value of money and a forward looking perspective (including the economic forecast).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Therefore&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the recognition and measurement of expected credit losses (ECL) is highly complex and involves the use of significant analysis and estimation including formulation and incorporation of forward-looking economic conditions into ECL.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Risk Parameters Adjusted&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt; by Macroeconomic Scenarios&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Expected Credit Loss must include forward looking information, in accordance with IFRS 9, which states that the comprehensive credit risk information must incorporate not only historical information but also all relevant credit &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;information, including forward-looking macroeconomic information. BBVA uses the classical credit risk parameters PD, LGD and EAD in order to calculate the ECL for the credit portfolios.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA&amp;#180;s methodological approach in order to incorporate the forward loo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;king information aims to determine the relation between macroeconomic variables and risk parameters following three main steps:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Step 1: Analysis and transformation of time series data.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Step 2: For each dependent variable find conditional forecasting models&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; that are economically consistent.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Step 3: Select the best conditional forecasting model from the set of candidates defined in Step 2, based on their out of sample forecasting performance.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;How economic scenarios are reflected in calculation of ECL&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The forw&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ard looking component is added through the introduction of macroeconomic scenarios as an input. Inputs would highly depend on the particular combination of region and portfolio, so inputs are adapted to available data.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Based on economic theory and analysis&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, the macroeconomic variables most directly relevant for explaining and forecasting the selected risk parameters (PD, LGD) are: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;a) The net income of families, corporates or public administrations.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;b) The payment amounts on the principal and interest on the outstanding loans. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;c) The value of the collateral assets pledge to the loan.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA Group approximates these variables by using a proxy indicator from the set included in the macroeconomic scenario&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s provided by the economic research department.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Only a single specific indicator for each of the three categories can be used and only core macroeconomic indicators should be chosen as first choice: for a) using Real GDP Growth for the purpose of condition&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;al forecasting can be seen as the single sufficient &amp;#8220;factor&amp;#8221; required for capturing the influence of all potentially relevant macro-financial scenario on internal PDs and LGD ; for b) using the most representative short term interest rate (typically the po&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;licy rate or the most liquid sovereign yield or interbank rate or EMBI) or exchange rates expressed in real terms and for c) using a comprehensive index of the price of real estate properties also expressed in real terms in the case of mortgage loans and a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; representative index of the price of the relevant commodity (in real terms) for corporate loan portfolios concentrated in exporters or producer of such commodity.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Real GDP growth is given priority over any other indicator not only because it is the most c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;omprehensive indicator of income and economic activity but also because it is the central variable in the generation of macroeconomic scenarios.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Multiple scenario approach under IFRS 9&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;IFRS 9 requires calculating an unbiased probability weighted measuremen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t of expected credit losses (&amp;#8220;ECL&amp;#8221;) by evaluating a range of possible outcomes, including forecasts of future economic conditions.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Research teams within the BBVA Group produce forecasts of the macroeconomic variables under the baseline scenario, w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hich are used in the rest of the related processes of the bank, such as budgeting, ICAAP and risk appetite framework, stress testing, etc.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Additionally, the BBVA Research teams produced alternative scenarios to the baseline scenario so as to meet the requi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rements under the IFRS 9 standard.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Alternative macroeconomic scenarios&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;For each of the macro-financial variables, BBVA Research produces three scenarios. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Each of these scenarios corresponds to the expected value of a different area of the probabilistic di&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;stribution of the possible projections of the economic variables.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The approach in BBVA consists on using the scenario that is the most likely scenario, which is the baseline scenario, consistent with the rest of internal processes (ICAAP, Budgeting&amp;#8230;) and t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hen applying an overlay adjustment that is calculated by taking into account the weighted average of the ECL determined by each of the scenarios.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;It is important to note that in general, it is expected that the effect of the overlay is to increase the ECL.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; It is possible to obtain an overlay that does not have that effect, whenever the relationship between macro scenarios and losses is linear. However, the overlay is not expected to reduce the ECL.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.3.2   Credit risk exposure&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In accordance with IFRS 7 &amp;#8220;Fi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nancial Instruments: Disclosures&amp;#8221;, the BBVA Group&amp;#8217;s maximum credit risk exposure (see definition below) by headings in the balance sheets as of December 31, 2018 is provided below. It does not consider the availability of collateral or other credit enhance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ments to guarantee compliance with payment obligations. The details are broken down by financial instruments and counterparties.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Maximum Credit Risk Exposure (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004580;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004580;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Financial assets held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;59,581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25,577&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28,750&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;5,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,095&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Derivatives (trading and hedging) &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;38,249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004580;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004580;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004580;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;56,332&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;56,329&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;53,737&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;53,734&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;431,927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;384,632&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;30,902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;16,394&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9,175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9,131&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;386,225&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;339,204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;30,673&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16,348&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;32,580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;32,350&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Total financial assets risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;592,538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;440,960&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;30,905&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;16,394&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Total loan commitments and financial guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;170,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;161,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;8,120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;987&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004580;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total maximum credit exposure&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004580;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004580;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;763,049&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004580;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004580;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004580;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;There was no similar breakdown before the implementation of IFRS 9 on January 1, 2018 (see Note 2.1)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The maximum credit exposure presented in the table above is determined by type of financial asset as explained below:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;In the case of financial assets recognized in the consolidated balance sheets, exposure to credit risk is considered equal to its carry&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ing amount (not including impairment losses), with the sole exception of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;derivatives&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; and hedging derivatives.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;maximum credit risk exposure on financial guarantees granted is the maximum that the Group would be liable for if these guarantees were called&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; in, and that is their amount.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The calculation of risk exposure for derivatives is based on the sum of two factors: the derivatives fair value and their potential&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; risk (or &amp;quot;add-on&amp;quot;).&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.4pt;color:#000000;' &gt;- The first factor, fair value, reflects the difference between original &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;commitments and fair values on the reporting date (mark-to-market).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.4pt;color:#000000;' &gt;- The second factor, potential risk (&amp;#8216;add-on&amp;#8217;), is an estimate of the maximum increase to be expected on risk exposure over a derivative fair value (at a given statistical confidence&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; level) as a result of future changes in the fair value over the remaining term of the derivatives.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.4pt;color:#000000;' &gt;- The consideration of the potential risk (&amp;quot;add-on&amp;quot;) relates the risk exposure to the exposure level at the time of a customer&amp;#8217;s default. The exposure level&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; will depend on the customer&amp;#8217;s credit quality and the type of transaction with such customer. Given the fact that default is an uncertain event which might occur any time during the life of a contract, the BBVA Group has to consider not only the credit exp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;osure of the derivatives on the reporting date, but also the potential changes in exposure during the life of the contract. This is especially important for derivatives, whose valuation changes substantially throughout their terms, depending on the fluctua&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;tion of market prices.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown by counterparty and product of loans and advances, net of impairment losses, as well as the gross carrying amount by type of product, classified in the different headings of the assets, as of December 3&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1, 2018, 2017 and 2016 is shown below&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:708.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:708.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:162pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Provisions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Gross carrying amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;By product&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;On demand and short notice&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(193)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,834&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Credit card debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13,108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,048)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16,495&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Trade receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;948&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16,190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,436&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(280)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,716&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Finance leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;226&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,650&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(427)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,077&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Reverse repurchase loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;772&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other term loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,911&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26,839&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,030&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;133,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;157,760&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;332,060&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(10,204)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;342,264&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,592&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,771&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,088&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10,962&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(63)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,025&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;29,917&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;9,196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;9,468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;163,922&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;172,522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;388,966&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(12,217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;401,183&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:162pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;By secured loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;text-align:left;vertical-align:middle;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: mortgage loans collateralized by immovable property&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;1,056&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;26,784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;111,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;139,883&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;(4,122)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;144,005&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;text-align:left;vertical-align:middle;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: other collateralized loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;7,179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;1,389&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;31,393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;6,835&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;47,081&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;(774)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;47,855&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;text-align:left;vertical-align:middle;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;By purpose of the loan&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;text-align:left;vertical-align:middle;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: credit for consumption&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;40,124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;40,124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;(2,613)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;42,736&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;text-align:left;vertical-align:middle;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: lending for house purchase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;111,007&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;111,007&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;(1,945)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;112,952&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;text-align:left;vertical-align:middle;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;By subordination&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:162pt;text-align:left;vertical-align:middle;border-color:Black;min-width:162pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: project finance loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;13,973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;13,973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;(312)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;14,286&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8.25pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:707.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:707.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;December 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;On demand and short notice&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;270&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,663&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10,560&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Credit card debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,862&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13,964&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15,835&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Trade receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;497&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20,385&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22,705&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Finance leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;205&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,040&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;361&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,642&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Reverse repurchase loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,290&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13,793&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10,912&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26,300&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other term loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,993&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26,983&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,463&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,763&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;125,228&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;155,418&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;324,848&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,964&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,044&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12,995&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;7,301&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;32,294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;26,261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18,525&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;164,637&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;172,868&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;421,886&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: mortgage loans (Loans collateralized by immovable property)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;998&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;308&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;37,353&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;116,938&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;155,597&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: other collateralized loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;7,167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;13,501&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;12,907&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;24,100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;9,092&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;66,767&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: credit for consumption&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;40,705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;40,705&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: lending for house purchase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;114,709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;114,709&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: project finance loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;16,412&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;16,412&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8.25pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:707.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:707.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;December 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;On demand and short notice&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;246&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,507&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,251&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Credit card debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,875&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14,719&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16,596&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Trade receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,091&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;998&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20,246&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;418&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23,753&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Finance leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,647&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,442&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Reverse repurchase loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;544&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15,597&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,746&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22,968&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other term loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,814&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29,140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,694&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,878&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;136,105&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;167,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;356,524&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,410&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,083&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,082&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;620&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14,389&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;8,894&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;34,820&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;31,373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;17,009&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;176,192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;186,633&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;454,921&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: mortgage loans [Loans collateralized by immovable property]&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;4,722&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;44,406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;132,398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;182,328&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: other collateralized loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;3,700&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;15,191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;8,164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;21,863&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;6,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;54,979&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: credit for consumption&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;44,504&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;44,504&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: lending for house purchase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;127,606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;127,606&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: project finance loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;19,269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;19,269&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.3.3  Mitigation of credit risk, collateralized credit risk and other credit enhancements&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In most cases, maximum credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; exposure is reduced by collateral, credit enhancements and other actions which mitigate the Group&amp;#8217;s exposure. The BBVA Group applies a credit risk hedging and mitigation policy deriving from a banking approach focused on relationship banking. The existenc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e of guarantees could be a necessary but not sufficient instrument for accepting risks, as the assumption of risks by the Group requires prior evaluation of the debtor&amp;#8217;s capacity for repayment, or that the debtor can generate sufficient resources to allow &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the amortization of the risk incurred under the agreed terms.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The policy of accepting risks is therefore organized into three different levels in the BBVA Group:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Analysis of the financial risk of the transaction, based on the debtor&amp;#8217;s capacity for repaymen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;t or generation of funds.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The constitution of guarantees that are adequate, or at any rate generally accepted, for the risk assumed, in any of the generally accepted forms: monetary, secured, personal or hedge guarantees; and finally&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Assessment&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; of the repa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;yment risk (asset liquidity) of the guarantees received.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The procedures for the management and valuation of collateral are set out in the Corporate Policies (retail and wholesale), which establish the basic principles for credit risk management, including &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the management of collaterals assigned in transactions with customers.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The methods used to value the collateral are in line with the best market practices and imply the use of appraisal of real-estate collateral, the market price in market securities, the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;trading price of shares in mutual funds, etc. All the collaterals received must be correctly assigned and entered in the corresponding register. They must also have the approval of the Group&amp;#8217;s legal units.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following is a description of the main types o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;f collateral for each financial instrument class:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Financial instruments held for trading: The guarantees or credit enhancements obtained directly from the issuer or counterparty are implicit in the clauses of the instrument.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Derivatives and hedging derivat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ives: In derivatives, credit risk is minimized through contractual netting agreements, where positive- and negative-value derivatives with the same counterparty are offset for their net balance. There may likewise be other kinds of guarantees and collatera&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ls, depending on counterparty solvency and the nature of the transaction. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The summary of the compensation effect (via netting and collateral) for derivatives and securities operations is presented in Note 7.4.3.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Other financial assets designated at fair v&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;alue through profit or loss and financial assets at fair value through other comprehensive income: The guarantees or credit enhancements obtained directly from the issuer or counterparty are inherent to the structure of the instrument.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;At December 31, 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;, BBVA Group had no credit risk exposure of impaired financial assets at fair value through other comprehensive income at December 31, 2018 (see Note 7.3.2).&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Financial assets at&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; amortized cost:&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:3pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.4pt;color:#000000;' &gt;- Loans and advances to credit institutions: These usually &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;only have the counterparty&amp;#8217;s personal guarantee.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:3pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.4pt;color:#000000;' &gt;- Loans and advances to customers: Most of these loans and advances are backed by personal guarantees extended by the customer. There may also be collateral to secure loans and advances to customers (such as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; mortgages, cash collaterals, pledged securities and other collateral), or to obtain other credit enhancements (bonds, hedging, etc.).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:39.7pt;color:#000000;' &gt;- Debt securities: The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;guarantees&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; or credit enhancements obtained directly from the issuer or counterparty are inherent t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;o the structure of the instrument.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.45pt;' &gt;The disclosure of impaired financial assets at amortized cost covered by collateral (see Note 7.3.2), by type of collateral, at December 31, 2018, is the following:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:10.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Maximum exposure to credit risk&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:251.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:251.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Of which secured by collateral&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Residential properties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Commercial properties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Cash&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Financial&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Impaired financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16,394&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,255&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;502&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;16,394&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,255&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;502&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;guarantees&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;, other con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;tingent risks and drawable by third parties:&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#0000FF;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;These have the counterparty&amp;#8217;s personal guarantee.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.45pt;' &gt;The maximum credit risk exposure of impaired financial guarantees and other commitments at December 31, 2018 amounts to &amp;#8364;987 million (see Note 7.3.2).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.3.4   Cr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;edit quality of financial assets that are neither past due nor impaired&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group has tools (&amp;#8220;scoring&amp;#8221; and &amp;#8220;rating&amp;#8221;) that enable it to rank the credit quality of its transactions and customers based on an assessment and its correspondence with the pro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;bability of default (&amp;#8220;PD&amp;#8221;) scales. To analyze the performance of PD, the Group has a series of tracking tools and historical databases that collect the pertinent internally generated information. These tools can be grouped together into scoring and rating &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;models.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Scoring&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Scoring is a decision-making model that contributes to both the arrangement and management of retail loans: consumer loans, mortgages, credit cards for individuals, etc. Scoring is the tool used to decide to originate a loan, what amount sh&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ould be originated and what strategies can help establish the price, because it is an algorithm that sorts transactions by their credit quality. This algorithm enables the BBVA Group to assign a score to each transaction requested by a customer, on the bas&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;is of a series of objective characteristics that have statistically been shown to discriminate between the quality and risk of this type of transactions. The advantage of scoring lies in its simplicity and homogeneity: all that is needed is a series of obj&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ective data for each customer, and this data is analyzed automatically using an algorithm.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;There are three types of scoring, based on the information used and on its purpose:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Reactive scoring: measures the risk of a transaction requested by an individual &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;using variables relating to the requested transaction and to the customer&amp;#8217;s socio-economic data available at the time of the request. The new transaction is approved or rejected depending on the score.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Behavioral scoring: scores transactions for a given pr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;oduct in an outstanding risk portfolio of the entity, enabling the credit rating to be tracked and the customer&amp;#8217;s needs to be anticipated. It uses transaction and customer variables available internally. Specifically, variables that refer to the behavior o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;f both the product and the customer.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Proactive scoring&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;: gives a score at customer level using variables related to the individual&amp;#8217;s general behavior with the entity, and to his/her payment behavior in all the contracted products. The purpose is to track th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;e customer&amp;#8217;s credit quality and it is used to pre-approved new transactions.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Rating&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Rating tools, as opposed to scoring tools, do not assess transactions but focus on the rating of customers instead: companies, corporations, SMEs, general governments, etc.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; A rating tool is an instrument that, based on a detailed financial study, helps determine a customer&amp;#8217;s ability to meet his/her financial obligations. The final rating is usually a combination of various factors: on one hand, quantitative factors, and on t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he other hand, qualitative factors. It is a middle road between an individual analysis and a statistical analysis.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The main difference between ratings and scorings is that the latter are used to assess retail products, while ratings use a wholesale banking&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; customer approach. Moreover, scorings only include objective variables, while ratings add qualitative information. And although both are based on statistical studies, adding a business view, rating tools give more weight to the business criterion compared&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; to scoring tools.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;For portfolios where the number of defaults is low (sovereign risk, corporates, financial entities, etc.) the internal information is supplemented by &amp;#8220;benchmarking&amp;#8221; of the external rating agencies (Moody&amp;#8217;s, Standard &amp;amp; Poor&amp;#8217;s and Fitch). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;To this end, each year the PDs compiled by the rating agencies at each level of risk rating are compared, and the measurements compiled by the various agencies are mapped against those of the BBVA master rating scale.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Once the probability of default of a t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ransaction or customer has been calculated, a &amp;quot;business cycle adjustment&amp;quot; is carried out. This is a means of establishing a measure of risk that goes beyond the time of its calculation. The aim is to capture representative information of the behavior of po&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rtfolios over a complete economic cycle. This probability is linked to the Master Rating Scale prepared by the BBVA Group to enable uniform classification of the Group&amp;#8217;s various asset risk portfolios.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The table below shows the abridged scale used to classi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;fy the BBVA Group&amp;#8217;s outstanding risk as of December 31, 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:96.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;External rating&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Internal rating&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:290.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:290.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Probability of default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;(basis points)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:96.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Standard&amp;amp;Poor&amp;#39;s List&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Reduced List (22 groups)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Average&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Minimum from &amp;gt;=&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Maximum &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AAA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AAA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;255&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;335&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;581&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;785&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,061&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,336&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,684&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,890&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,684&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,121&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,673&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,673&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,367&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,780&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:96.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:96.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,243&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These different levels and their probability of default were calculated by using as a reference the rating scales and default rates provided by the external agencies Stan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;dard &amp;amp; Poor&amp;#8217;s and Moody&amp;#8217;s. These calculations establish the levels of probability of default for the BBVA Group&amp;#8217;s Master Rating Scale. Although this scale is common to the entire Group, the calibrations (mapping scores to PD sections/Master Rating Scale le&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;vels) are carried out at tool level for each country in which the Group has tools available.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The table below outlines &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the distribution by probability of default within 12 months and stages of the gross carrying amount of loans and advances to customers in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;percentage of BBVA Group as of December 31, 2018 is shown below&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:285pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:285pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:198pt;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Subject to 12 month ECL (Stage 1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Subject to lifetime ECL (Stage 2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Probability of default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;(basis points)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0 to 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.0&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:198pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2 to 5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:198pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5 to 11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.0&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:198pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11 to 39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20.9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:198pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39 to 194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.8&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:198pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;194 to 1,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:198pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,061 to 2,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;gt; 2,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:198pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#003366;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;91.7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:142.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#003366;border-color:Black;min-width:142.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8.3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;There was no similar breakdown before the implementation of IFRS 9 on January 1, 2018 (see Note 2.1).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.3.5   Past due but not impaired and impaired secured loans r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;isks&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The tables below provides details by counterpart and by product of past due risks but not considered to be impaired, as of December 31, 2018, 2017 and 2016, listed by their first past-due date; as well as the breakdown of the debt sec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;urities and loans and advances individually and collectively estimated (see Note 2.2.1):&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:710.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:710.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:163.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Assets without significant increase in credit risk since initial recognition (Stage 1)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Assets with significant increase in credit risk since initial recognition but not credit-impaired (Stage 2)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Credit-impaired assets (Stage 3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:60.75pt;' &gt;&lt;td style='width:163.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;lt;= 30 days&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;gt; 30 days &amp;lt;= 90 days&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;gt; 90 days&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;lt;= 30 days&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;gt; 30 days &amp;lt;= 90 days&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;gt; 90 days&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;lt;= 30 days&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;gt; 30 days &amp;lt;= 90 days&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;gt; 90 days&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;4,191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;4,261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;3,228&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;900&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2,769&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;224&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,180&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;149&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,333&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,835&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,971&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,047&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;618&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,404&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4,191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4,261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,228&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;900&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,774&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Loans and advances by product, by collateral and by subordination&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;On demand (call) and short notice (current account)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Credit card debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;182&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Trade receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Finance leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;307&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other term loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,421&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;325&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,575&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,869&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;369&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,433&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: mortgage loans collateralized by immovable property&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;1,681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;1,598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;1,745&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;251&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;712&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;1,365&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: other collateralized loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;255&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;742&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: credit for consumption&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;910&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;1,278&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;424&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;281&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: lending for house purchase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;1,365&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;1,394&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;1,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;170&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;507&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;839&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:163.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:163.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: project finance loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;382&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8.25pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:714.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:714.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;December 2017 (Millions of euros) (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:210.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:189pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:189pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Past due but not impaired&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:63pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Impaired assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:63pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Carrying amount of the impaired assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:63pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Specific allowances for financial assets, individually and collectively estimated&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:63pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Collective allowances for incurred but not reported losses&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:63pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Accumulated write-offs&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:60.75pt;' &gt;&lt;td style='width:210.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;#8804; 30 days&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;gt; 30 days &amp;#8804; 60 days&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;gt; 60 days &amp;#8804; 90 days&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;3,432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;759&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;503&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;19,401&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;10,726&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(8,675)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(4,109)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(29,938)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;75&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(69)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(30)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;170&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10,791&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5,599)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,939)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(18,988)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;603&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,417&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,395&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,022)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2,052)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(10,913)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;759&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;503&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;19,467&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;10,764&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(8,703)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(4,130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(29,938)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Loans and advances by product, by collateral and by subordination&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;On demand (call) and short notice (current account)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;389&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(238)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Credit card debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;397&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;629&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(439)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Trade receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;115&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;515&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(336)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Finance leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;431&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;155&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(276)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other term loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,417&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10,047&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7,370)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: mortgage loans (Loans collateralized by immovable property)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,345&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,388&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,630&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,757)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: other collateralized loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;592&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;137&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(310)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: credit for consumption&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,260&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,551&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;457&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,093)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: lending for house purchase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,034&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;307&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,444&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,286)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: project finance loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,165&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;895&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(271)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  Figures originally reported in the year 2017 in accordance to the applicable regulation, without restatements.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8.25pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:714.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:714.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;December 2016 (Millions of euros) (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:210.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:189pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:189pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Past due but not impaired&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:63pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Impaired assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:63pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Carrying amount of the impaired assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:63pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Specific allowances for financial assets, individually and collectively estimated&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:63pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Collective allowances for incurred but not reported losses&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:63pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Accumulated write-offs&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:60.75pt;' &gt;&lt;td style='width:210.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;lt;= 30 days&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;gt; 30 days &amp;lt;= 60 days&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;&amp;gt; 60 days &amp;lt;= 90 days&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;272&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(144)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(46)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;3,384&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;696&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;735&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;22,925&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;12,133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(10,793)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(5,224)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(29,346)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;256&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(36)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;968&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13,786&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,383&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7,402)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2,789)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(18,020)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,343&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;479&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;426&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,483&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,319)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2,329)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11,303)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,384&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;696&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;735&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;23,197&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;12,261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(10,937)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(5,270)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(29,347)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Loans and advances by product, by collateral and by subordination&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;On demand (call) and short notice (current account)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(313)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:#000000;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Credit card debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;377&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;643&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(529)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Trade receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;424&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(337)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Finance leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(264)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Reverse repurchase loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other term loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,685&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;469&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20,765&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,429&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(9,336)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: mortgage loans (Loans collateralized by immovable property)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16,526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,008&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5,850)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: other collateralized loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;593&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;656&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(275)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: credit for consumption&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,186&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,622&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;455&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,168)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: lending for house purchase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;883&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;105&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,094&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,548)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:210.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:210.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#808080;' &gt;of which: project finance loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;253&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;105&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(147)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  Figures originally reported in the year 2016 in accordance to the applicable regulation, without restatements.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of loans and advances, within financial assets at amortized cost, impaired and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;accumulated impairment by sectors as of December 31, 2018, 2017 and 2016 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:54pt;' &gt;&lt;td style='width:225.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Non-performing loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Accumulated impairment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Non-performing loans and advances as a % of the total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:225.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(84)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:225.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:225.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:225.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;8,372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(6,260)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;4.9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Agriculture, forestry and fishing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(107)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mining and quarrying&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(70)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Manufacturing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,695&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,134)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Electricity, gas, steam and air conditioning supply&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(446)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Water supply&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Construction&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,007)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Wholesale and retail trade&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,259)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transport and storage&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(374)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accommodation and food service activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(204)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Information and communication&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(72)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial and insurance activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(128)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Real estate activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;834&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(624)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Professional, scientific and technical activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(171)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Administrative and support service activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(125)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Public administration and defense, compulsory social security&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Education&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Human health services and social work activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(63)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Arts, entertainment and recreation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:225.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(382)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:225.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;7,838&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(5,833)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;4.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:225.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:225.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;LOANS AND ADVANCES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(12,211)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:485.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:485.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:90.75pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Non-performing loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Accumulated impairment or Accumulated changes in fair value due to credit risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Non-performing loans and advances as a % of the total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(111)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(36)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;10,791&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(7,538)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Agriculture, forestry and fishing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;166&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mining and quarrying&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Manufacturing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(955)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Electricity, gas, steam and air conditioning supply&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;213&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(289)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Water supply&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Construction&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,993&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,708)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Wholesale and retail trade&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,706&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,230)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transport and storage&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(353)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accommodation and food service activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(222)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Information and communication&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(256)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Real estate activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Professional, scientific and technical activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(183)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Administrative and support service activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Public administration and defense, compulsory social security&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Education&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Human health services and social work activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;75&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(68)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Arts, entertainment and recreation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(716)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;8,417&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(5,073)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;4.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;LOANS AND ADVANCES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;19,401&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(12,784)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:78pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Non-performing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Accumulated impairment or Accumulated changes in fair value due to credit risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Non-performing loans and advances as a % of the total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(52)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;13,786&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(10,192)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;7.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Agriculture, forestry and fishing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(188)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mining and quarrying&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(83)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Manufacturing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,569&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,201)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Electricity, gas, steam and air conditioning supply&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;569&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(402)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Water supply&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Construction&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,358&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3,162)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Wholesale and retail trade&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,857&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,418)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transport and storage&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(501)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accommodation and food service activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(273)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Information and communication&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(110)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Real estate activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,074)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Professional, scientific and technical activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(380)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Administrative and support service activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;182&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(107)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Public administration and defense, compulsory social security&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Education&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Human health services and social work activities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(88)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Arts, entertainment and recreation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;84&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:226.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,088)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;8,801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(5,648)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;4.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:226.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:226.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;LOANS AND ADVANCES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;22,925&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(16,016)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:85.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:85.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The changes during the years 2018, 2017 and 2016 of impaired financial assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;and contingent risks are as follow:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Changes in Impaired Financial Assets and Contingent Risks (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;20,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,792&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,133&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Decreases (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,909)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7,771)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7,633)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Net additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;2,883&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,085&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Amounts written-off&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5,076)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5,758)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5,592)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange differences and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,264)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(615)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(134)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;20,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,877&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)   Reflects the total amount of impaired loans derecognized from the consolidated balance sheet throughout the year as a result of mortgage foreclosures and real estate assets received in lieu &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of payment as well as monetary recoveries (see Notes 19 and 20 to the Consolidated Financial Statement for additional information).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The changes during the years 2018, 2017 and 2016 in financial assets derecognized from the accompanying consolidated ba&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;lance sheet as their recovery is considered unlikely (hereinafter &amp;quot;write-offs&amp;quot;), is shown below:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Changes in Impaired Financial Assets Written-Off from the Balance Sheet (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;30,139&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;29,347&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;26,143&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Increase:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,986&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,699&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Decrease:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4,210)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4,442)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2,384)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Re-financing or restructuring&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Cash recovery&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(589)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(558)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(541)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Foreclosed assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(625)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(210)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Sales of written-off&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,805)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2,284)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Debt forgiveness&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(889)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,121)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(864)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Time-barred debt and other causes &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(292)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(321)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(692)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Net exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(752)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(111)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;32,343&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30,139&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;29,347&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As indicated in Note 2.2.1, although they have been derecognized from the consolidated balance sheet, the BBVA Group continues to atte&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;mpt to collect on these written-off financial assets, until the rights to receive them are fully extinguished, either because it is time-barred financial asset, the financial asset is condoned, or other reasons.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.3.6   Impairment losses&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;B&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;elow are the changes in the years ended December 31, 2018, 2017 and 2016, in the provisions recognized on the accompanying consolidated balance sheets to cover estimated impairment losses in loans and advances and debt securities measured at amortized cost&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and financial assets at fair value through other comprehensive income as well as the loan commitment and financial guarantees:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:711pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:711pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial assets at amortized cost. December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:225pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:225pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Not credit-impaired&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Credit-impaired&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Credit-impaired &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;(Stage 3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Purchased/originated credit-impaired &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;(Stage 3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances (collectively assessed)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances (individually assessed)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Opening balance (under IFRS 9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,237)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(1,827)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(525)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(9,371)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(13,960)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers from Stage 1 to Stage 2 (not credit-impaired)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(930)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(218)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(940)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers from Stage 2 (not credit - impaired) to Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(125)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;544&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers to Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;564&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2,127)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,226)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers from Stage 3 to Stage 1 or 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(126)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(68)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;333&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Changes without transfers between Stages&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;358&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(260)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,775)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,730)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;New financial assets originated&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,072)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(375)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(244)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,692)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Disposals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;115&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Repayments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,623&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Write-offs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,433&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,461&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Foreign exchange&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(84)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(93)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;343&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Modifications that result in derecognition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;98&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Modifications that do not result in derecognition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(362)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(366)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,399&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Closing balance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,106)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(1,753)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(628)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(7,777)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(12,264)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:711pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:711pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income. December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:225pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:225pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Not credit-impaired&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Credit-impaired&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Credit-impaired &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;(Stage 3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Purchased/originated credit-impaired &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;(Stage 3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances (collectively assessed)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances (individually assessed)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Opening balance (under IFRS 9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Changes without transfers between Stages&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;New financial assets originated&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Repayments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Foreign exchange&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Modifications that do not result in derecognition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Closing balance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:711pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:711pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Loan commitments and financial guarantees. December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:225pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:225pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Not credit-impaired&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Credit-impaired&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Credit-impaired &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;(Stage 3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Purchased/originated credit-impaired &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;(Stage 3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances (collectively assessed)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances (individually assessed)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Opening balance (under IFRS 9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(200)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(135)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(84)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(285)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(704)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers from Stage 1 to Stage 2 (not credit-impaired)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(84)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(81)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers from Stage 2 (not credit - impaired) to Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers to Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers from Stage 3 to Stage 1 or 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Changes without transfers between Stages&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;New financial assets originated&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(102)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(154)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Disposals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Repayments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;202&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Foreign exchange&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Modifications that do not result in derecognition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Closing balance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(232)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(127)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(60)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(636)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8.25pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:710.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:710.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;December 2017 (Millions of euros) (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:38.25pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Opening balance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Increases due to amounts set aside  for estimated loan losses during the period&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Decreases due to amounts  reversed for estimated loan losses during the period&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Decreases due to amounts taken against allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Transfers between allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Other adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Closing balance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Recoveries  recorded directly to the statement of profit or loss&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Specific allowances for financial assets, individually and collectively estimated&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(10,937)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(7,484)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2,878&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;4,503&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;1,810&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(8,703)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;558&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(144)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(103)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(10,793)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(7,458)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2,872&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;4,503&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;1,687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;513&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(8,675)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;558&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(70)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(287)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7,402)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,627)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,993&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,029&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(228)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5,599)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;345&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,319)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,472)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;837&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,422&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(177)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,022)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;212&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Collective allowances for incurred but not reported losses on financial assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(5,270)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(1,783)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2,159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;1,537&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(1,328)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(4,130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(46)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:134.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5,224)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,776)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,536&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,328)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4,109)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:#000000;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(16,206)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(9,267)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,037&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;6,038&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;482&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,083&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(12,833)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;558&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  Figures originally report&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed in the year 2017 in accordance to the applicable regulation, without restatements.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8.25pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:710.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:710.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;December 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:42.75pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Opening balance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Increases due to amounts set aside  for estimated loan losses during the period&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Decreases due to amounts  reversed for estimated loan losses during the period&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Decreases due to amounts taken against allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Transfers between allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Other adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Closing balance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#003366;' &gt;Recoveries  recorded directly to the statement of profit or loss&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#969696;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Specific allowances for financial assets, individually and collectively estimated&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(12,866)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(6,912)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2,708&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;5,673&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;583&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(10,937)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;540&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(167)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(144)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(138)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(103)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(12,831)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(6,745)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2,702&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;5,610&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(113)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(10,793)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;540&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(37)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(9,225)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,705)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(278)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7,402)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,514)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,002)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,325&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,319)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;205&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Collective allowances for incurred but not reported losses on financial assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(6,024)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(1,558)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;1,463&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;775&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;(5,270)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(113)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(46)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5,911)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,546)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,449&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5,224)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:134.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:134.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(18,890)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(8,470)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4,172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,762&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;652&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;568&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(16,206)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;541&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;*)  Figures originally reported in the year 2016 in accordance to the applicable regulation, without restatements.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.3.7 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;  Refinancing and restructuring operations&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Group policies and principles with respect to refinancing and restructuring operations&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Refinancing and restructuring transactions (see definition in the Glossary) are carried out with customers who have requested &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;such an operation in order to meet their current loan payments if they are expected, or may be expected, to experience financial difficulty in making the payments in the future.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The basic aim of a refinancing and restructuring operation is to provide the c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ustomer with a situation of financial viability over time by adapting repayment of the loan incurred with the Group to the customer&amp;#8217;s new situation of fund generation. The use of refinancing and restructuring for other purposes, such as to delay loss recog&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nition, is contrary to BBVA Group policies. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group&amp;#8217;s refinancing and restructuring policies are based on the following general principles:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Refinancing and restructuring is authorized according to the capacity of customers to pay the new installmen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ts. This is done by first identifying the origin of the payment difficulties and then carrying out an analysis of the customers&amp;#8217; viability, including an updated analysis of their economic and financial situation and capacity to pay and generate funds. If t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;he customer is a company, the analysis also covers the situation of the industry in which it operates. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;With the aim of increasing the solvency of the operation, new guarantees and/or guarantors of demonstrable solvency are obtained where possible. An esse&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ntial part of this process is an analysis of the effectiveness of both the new and original guarantees. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;This analysis is carried out from the overall customer or group perspective. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Refinancing and restructuring operations do not in general increase the a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;mount of the customer&amp;#8217;s loan, except for the expenses inherent to the operation itself. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The capacity to refinance and restructure loan is not delegated to the branches, but decided on by the risk units. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The decisions made are reviewed from time to time w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ith the aim of evaluating full compliance with refinancing and restructuring&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; policies. &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These general principles are adapted in each case according to the conditions and circumstances of each geographical area in which the Group operates, and to the differ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ent types of customers involved.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the case of retail customers (private individuals), the main aim of the BBVA Group&amp;#8217;s policy on refinancing and restructuring loan is to avoid default arising from a customer&amp;#8217;s temporary liquidity problems by implementing&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; structural solutions that do not increase the balance of customer&amp;#8217;s loan. The solution required is adapted to each case and the loan repayment is made easier, in accordance with the following principles: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Analysis of the viability of operations based on t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;he customer&amp;#8217;s willingness and ability to pay, which may be reduced, but should nevertheless be present. The customer must therefore repay at least the interest on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the operation in all cases. No arrangements may be concluded that involve a grace period for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;both principal and interest.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Refinancing and restructuring of operations is only allowed on those loans in which the BBVA Group originally entered into.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Customers&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; subject to refinancing and restructuring operations are excluded from marketing campaigns of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;any kind.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the case of non-retail customers (mainly companies, enterprises and corporates), refinancing/restructuring is authorized according to an economic and financial viability plan based on:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Forecasted future income, margins and cash flows to allow&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; entities to implement cost adjustment measures (industrial restructuring) and a business development plan that can help reduce the level of leverage to sustainable levels (capacity to access the financial markets).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Where appropriate, the existence of a di&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;vestment plan for assets and/or operating segments that can generate cash to assist the deleveraging process.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The capacity of shareholders to contribute capital and/or guarantees that can support the viability of the plan.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In accordance with the Grou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;p&amp;#8217;s policy, the conclusion of a loan refinancing and restructuring operation does not meet the loan is reclassified from &amp;quot;impaired&amp;quot; or &amp;quot;significant increase in credit risk&amp;quot; to outstanding risk. The reclassification to &amp;quot;significant increase in credit risk&amp;quot; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;or normal risk categories must be based on the analysis mentioned earlier of the viability, upon completion of the probationary periods described below. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group maintains the policy of including risks related to refinanced and restructured loans as eith&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;er:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&amp;quot;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Impaired assets&amp;quot;, as although the customer is up to date with payments, they are classified as unlikely to pay when there are significant doubts that the terms of their refinancing may not be met; or&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&amp;quot;Significant increase in credit risk&amp;quot; until the con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ditions established for their consideration as normal risk are met).&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The conditions established for assets classified as &amp;#8220;Significant increase in credit risk&amp;#8221; to be reclassified out of this category are as follows:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The customer must have paid past-due amou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;nts (principal and interest) since the date of the renegotiation or restructuring of the loan or other objective criteria, demonstrating the borrower&amp;#180;s ability to pay, have been verified; none of its exposures is more than 30 days past-due; and&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;At least tw&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;o years must have elapsed since completion of the renegotiation or restructuring of the loan and regular payments must have been made during at least half of this probation period;&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;It is unlikely that the customer will have financial difficulties and, ther&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;efore, it is expected that the customer&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; will be able to meet its loan payment obligations (principal and interest) in a timely manner.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group&amp;#8217;s refinancing and restructuring policy provides for the possibility of two modifications in a 24 month per&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;iod for loans that are not in compliance with the payment schedule.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The internal models used to determine allowances for loan losses consider the restructuring and renegotiation of a loan, as well as re-defaults on such a loan, by assigning a lower interna&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;l rating to restructured and renegotiated loans than the average internal rating assigned to non-restructured/renegotiated loans. This downgrade results in an increase in the probability of default (PD) assigned to restructured/renegotiated loans (with the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; resulting PD being higher than the average PD of the non- renegotiated loans in the same portfolios).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;For quantitative information on refinancing and restructuring operations see Appendix VIII.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.4    Market risk&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.4.1  Market risk trading portfolios&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Market risk originates as a result of movements in the market variables that impact the valuation of traded financial products and assets. The main risks generated can be classified as follows:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Interest-rate risk: This arises as a result of exposure to mov&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ements in the different interest-rate curves involved in trading. Although the typical products that generate sensitivity to the movements in interest rates are money-market products (deposits, interest-rate futures, call money swaps, etc.) and traditional&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; interest-rate derivatives (swaps and interest-rate options such as caps, floors, swaptions, etc.), practically all the financial products are exposed to interest-rate movements due to the effect that such movements have on the valuation of the financial d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;iscount.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Equity risk: This arises as a result of movements in share prices. This risk is generated in spot positions in shares or any derivative products whose underlying asset is a share or an equity index. Dividend risk is a sub-risk of equity risk, aris&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ing as an input for any equity option. Its variation may affect the valuation of positions and it is therefore a factor that generates risk on the books.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Exchange-rate risk: This is caused by movements in the exchange rates of the different currencies in w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;hich a position is held. As in the case of equity risk, this risk is generated in spot currency positions, and in any derivative product whose underlying asset is an exchange rate. In addition, the quanto effect (operations where the underlying asset and t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;he instrument itself are denominated in different currencies) means that in certain transactions in which the underlying asset is not a currency, an exchange-rate risk is generated that has to be measured and monitored.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Credit-spread risk: Credit spread is&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; an indicator of an issuer&amp;#39;s credit quality. Spread risk occurs due to variations in the levels of spread of both corporate and government issues, and affects positions in bonds and credit derivatives.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Volatility risk: This occurs as a result of changes in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; the levels of implied price volatility of the different market instruments on which derivatives are traded. This risk, unlike the others, is exclusively a component of trading in derivatives and is defined as a first-order convexity risk that is generated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; in all possible underlying assets in which there are products with options that require a volatility input for their valuation.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The metrics developed to control and monitor market risk in BBVA Group are aligned with market practices and are implemented co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nsistently across all the local market risk units. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Measurement procedures are established in terms of the possible impact of negative market conditions on the trading portfolio of the Group&amp;#39;s Global Markets units, both under ordinary circumstances and in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;situations of heightened risk factors.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The standard metric used to measure market risk is Value at Risk (&amp;#8220;VaR&amp;#8221;), which indicates the maximum loss that may occur in the portfolios at a given confidence level (99%) and time horizon (one day). This statistic &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;value is widely used in the market and has the advantage of summing up in a single metric the risks inherent to trading activity, taking into account how they are related and providing a prediction of the loss that the trading book could sustain as a resul&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t of fluctuations in equity prices, interest rates, foreign exchange rates and credit spreads. The market risk analysis considers risks, such as credit spread, basis risk as well as volatility and correlation risk. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Most of the headings on the Group&amp;#39;s bal&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ance sheet subject to market risk are positions in the Group&amp;#180;s trading portfolio whose metric for measuring their market risk is VaR. This table shows the accounting lines of the consolidated balance sheet as of December 31, 2018, 2017 and 2016&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in which th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ere is a market risk in the Group&amp;#180;s trading and non-trading portfolios:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Headings of the balance sheet under market risk (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;December 2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Main market risk metrics - VaR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Main market risk metrics - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Others (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Main market risk metrics - VaR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Main market risk metrics - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Others (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Main market risk metrics - VaR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Main market risk metrics - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Others (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Assets subject to market risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;57,486&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59,008&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,480&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,652&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,661&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,083&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,771&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;Of which: Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,046&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,559&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives - Hedging accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;688&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;829&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,397&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,415&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Liabilities subject to market risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,844&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,026&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47,491&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,223&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives - Hedging accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;910&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;638&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;689&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  Includes mainly assets and liabilities managed by ALCO.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Although the prior table shows details of the financial positions subject to market risk, it &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;should be noted that the data are for information purposes only and do not reflect how the risk is managed in trading activity, where it is not classified into assets and liabilities.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With respect to the risk measurement models used in BBVA Group, the Bank&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of Spain has authorized the use of the internal model to determine bank capital requirements deriving from risk positions on the BBVA S.A. and BBVA Bancomer trading book, which jointly account for around 76%, 70% and 66% of the Group&amp;#8217;s trading-book market&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; risk as of December 31, 2018, 2017 and 2016. For the rest of the geographical areas (mainly South America, Garanti and BBVA Compass), bank capital for the risk positions in the trading book is calculated using the standard model.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The current management st&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ructure includes the monitoring of market-risk limits, consisting of a scheme of limits based on VaR, economic capital (based on VaR measurements) and VaR sub-limits, as well as stop-loss limits for each of the Group&amp;#8217;s business units. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The model used estim&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ates VaR in accordance with the &amp;quot;historical simulation&amp;quot; methodology, which involves estimating losses and gains that would have taken place in the current portfolio if the changes in market conditions that took place over a specific period of time in the p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ast were repeated. Based on this information, it infers the maximum expected loss of the current portfolio within a given confidence level. This model has the advantage of reflecting precisely the historical distribution of the market variables and not ass&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;uming any specific distribution of probability. The historical period used in this model is two years. The historical simulation method is used in BBVA S.A., BBVA Bancomer, BBVA Colombia, Compass Bank and Garanti.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:3.3pt;' &gt;VaR figures are estimated following two m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ethodologies:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;VaR &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;without smoothing, which awards equal weight to the daily information for the previous two years. This is currently the official methodology for measuring market risks for the purpose of monitoring compliance with risk limits.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;VaR with sm&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;oothing, which gives a greater weight to more recent market information. This metric supplements&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; the previous one.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the case of Global Markets Argentina and Global Markets Peru a parametric methodology is used to measure risk in terms of VaR.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;At the sam&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e time, and following the guidelines established by the Spanish and European authorities, BBVA incorporates metrics in addition to VaR with the aim of meeting the Bank of Spain&amp;#39;s regulatory requirements with respect to the calculation of bank capital for t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he trading book. Specifically, the new measures incorporated in the Group since December 2011 (stipulated by Basel 2.5) are:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;VaR: In regulatory terms, the VaR charge incorporates the stressed VaR charge, and the sum of the two (VaR &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;and stressed VaR) is cal&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;culated. This quantifies the losses associated with the movements of the two risk factors inherent to market operations (interest rates, FX, RV, credit, etc.). Both VaR and stressed VaR are rescaled by a regulatory multiplier set at three and by the square&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; root of ten to calculate the capital charge.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Specific Risk: Incremental Risk Capital (&amp;#8220;IRC&amp;#8221;) Quantification of the risks of default and downgrading of the credit ratings&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; of the bond and credit derivative positions in the portfolio. The specific capital ri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;sk by IRC is a charge exclusively used in the geographical areas with the internal model approved (BBVA S.A. and Bancomer). The capital charge is determined according to the associated losses (at 99.9% in a 1-year horizon under the hypothesis of constant r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;isk) due to the rating migration and/or default state the issuer of an asset. In addition, the price risk is included in sovereign positions for the items specified.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Specific Risk: Securitization and correlation portfolios. Capital charge for securitizatio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ns and the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;correlation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; portfolio to include the potential losses associated at the level of rating a specific credit structure (rating). Both are calculated by the standard method. The scope of the correlation portfolios refers to the FTD-type market opera&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;tion and/or tranches of market CDOs and only for positions with an active market and hedging capacity.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Validity tests are performed regularly on the risk measurement models used by the Group. They estimate the maximum loss that could have been incurred in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the positions with a certain level of probability (backtesting), as well as measurements of the impact of extreme market events on risk positions (stress testing). As an additional control measure, backtesting is conducted at trading desk level in order to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; enable more specific monitoring of the validity of the measurement models.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Market risk in 2018&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group&amp;#8217;s market risk remains at low levels compared to other risks managed by BBVA, particularly in terms of credit risk. This is due to the nature of the b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;usiness. During the financial year 2018 the average VaR was &amp;#8364;21 million, below the figure of 2017, with a high on March 16, 2018 of &amp;#8364;26 million. The evolution in the BBVA Group&amp;#8217;s market risk during 2018, measured as VaR without smoothing (see Glossary) wit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;h a 99% confidence level and a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1-day horizon&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; (shown in millions of Euros) is as follows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;By type of market risk assumed by the Group&amp;#39;s trading portfolio, the main risk factor for the Group continues to be that linked to interest rates, with a weight of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;5&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;5%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of the total at the end of year ended December 31, 2018 (this figure includes the spread risk). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The relative weight has increased compared with the close of 2017 (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;48%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;). Exchange-rate risk maintains its proportion with respect to 2017 (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;14%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, while equity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, volatility and correlation risk have decreased, with a weight of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;31%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; at the close of 2018 (vs. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;38%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; at the close of 2017).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016 the balance of VaR was &amp;#8364;17 million, &amp;#8364;22 million and &amp;#8364;26 million, respectively. These figures&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; can be broken down as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;VaR by Risk Factor (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:180.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Interest/Spread Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Currency Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Stock-market Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Vega/Correlation Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Diversification Effect(*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:180.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:180.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;VaR average in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:180.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;VaR max in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:180.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;VaR min in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:180.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;End of period VaR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:180.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:180.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;VaR average in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:180.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;VaR max in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:180.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;VaR min in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:180.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;End of period VaR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:180.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;December 2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:180.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;VaR average in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:180.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;VaR max in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:180.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;VaR min in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:180.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:180.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;End of period VaR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  The diversification effect is the difference between the sum of the average individual risk factors and the total VaR figure that includes the implied correlation between all the variables and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; scenarios used in the measurement.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Validation of the model&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The internal market risk model is validated on a regular basis by backtesting in both BBVA S.A. and Bancomer. The aim of backtesting is to validate the quality and precision of the internal market&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; risk model used by BBVA Group to estimate the maximum daily loss of a portfolio, at a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;99%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; level of confidence and a 250-day time horizon, by comparing the Group&amp;#39;s results and the risk measurements generated by the internal market risk model. These tests s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;howed that the internal market risk model of both BBVA, S.A. and Bancomer is adequate and precise.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Two types of backtesting have been carried out during 2018, 2017 and 2016:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&amp;quot;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Hypothetical&amp;quot; backtesting: the daily VaR is compared with the results obtained, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;not taking into account the intraday results or the changes in the portfolio positions. This validates the appropriateness of the market risk metrics for the end-of-day position.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&amp;quot;Real&amp;quot; backtesting&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;: the daily VaR is compared with the total results, includi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ng intraday transactions, but discounting the possible minimum charges or fees involved. This type of backtesting includes the intraday risk in portfolios.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, each of these two types of backtesting was carried out at the level of risk factor or b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;usiness type, thus making a deeper comparison of the results with respect to risk measurements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;For the period between the year ended December 31, 2017 and the year ended December 31, 2018, the backtesting of the internal VaR calculation model was carried &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;out, comparing the daily results obtained to the estimated risk level by the internal VaR calculation model. At the end of the year the comparison showed the internal VaR calculation model was working correctly, within the &amp;quot;green&amp;quot; zone (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;0-4 exceptions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;), th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;us validating the internal VaR calculation model, as has occurred each year since the internal market risk model was approved for the Group. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Stress test analysis&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;A number of stress tests are carried out on BBVA Group&amp;#39;s trading portfolios. First, global a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nd local historical scenarios are used that replicate the behavior of an extreme past event, such as for example the collapse of Lehman Brothers or the &amp;quot;Tequilazo&amp;quot; crisis. These stress tests are complemented with simulated scenarios, where the aim is to ge&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nerate scenarios that have a significant impact on the different portfolios, but without being anchored to any specific historical scenario. Finally, for some portfolios or positions, fixed stress tests are also carried out that have a significant impact o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n the market variables affecting these positions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#222222;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Historical scenarios&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#222222;' &gt;The historical benchmark stress scenario for the BBVA Group is Lehman Brothers, whose sudden collapse &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#222222;' &gt;in September 2008 led to a significant impact on the behavior of financial markets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#222222;' &gt;at a global level. The following are the most relevant effects of this historical scenario:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:6pt;margin-bottom:4pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Credit shock: reflected mainly in the increase of credit spreads and downgrades in credit ratings.&amp;#160;&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:6pt;margin-bottom:4pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Increased volatility in most of the financial markets (giving ri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;se to a great deal of variation in the prices of different assets (currency, equity, debt).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:6pt;margin-bottom:4pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Liquidity shock in the financial systems, reflected by a major movement in interbank curves, particularly in the shortest sections of the euro and dollar curves.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Si&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt;mulated scenarios&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Unlike the historical scenarios, which are fixed and therefore not suited to the composition of the risk portfolio at all times, the scenario used for the exercises of economic stress is based on Resampling methodology. This methodology i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s based on the use of dynamic scenarios are recalculated periodically depending on the main risks held in the trading portfolios. On a data window wide enough to collect different periods of stress (data are taken from 1-1-2008 until today), a simulation i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s performed by resampling of historic observations, generating a loss distribution and profits to analyze most extreme of births in the selected historical window. The advantage of this resampling methodology is that the period of stress is not predetermin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ed, but depends on the portfolio maintained at each time, and making a large number of simulations (10,000 simulations) allows a richer information for the analysis of expected shortfall than what is available in the scenarios included in the calculation o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;f VaR.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The main features of this approach are: a) the generated simulations respect the correlation structure of the data, b) flexibility in the inclusion of new risk factors and c) to allow the introduction of a lot of variability in the simulations (desi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rable to consider extreme events).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The impact of the stress test under multivariable simulation of the risk factors of the portfolio (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-style:italic;' &gt;Expected shortfall &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;95% to 20 days) as of December 31, 2018 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.15pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Millions of Euros&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Peru&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Venezuela&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Argentina&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Colombia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Compass&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Expected Shortfall&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(99)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.4.2   Structural risk&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Assets and Liabilities Committee (ALCO) is the main responsible body for the management of structural risks relating to liquidity/funding, interest rates, currency rates, equity and solvency. Every month, with the assistance of the CEO and representat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ives from the areas of Finance, Risks and Business Areas, this committee monitors the above risks and is presented with proposals for managing them for its approval. These management proposals are made proactively by the Finance area, taking into account t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he risk appetite framework and with the aim of guaranteeing recurrent earnings and financial stability and preserving the entity&amp;#39;s solvency. All the balance-sheet management units have a local ALCO, assisted constantly by the members of the Corporate Cente&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;r. There is also a corporate ALCO where the management strategies in the Group&amp;#39;s subsidiaries are monitored and presented.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Structural interest-rate risk&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The structural interest-rate risk (&amp;#8220;IRRBB&amp;#8221;) is related to the potential impact that variations in marke&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t interest rates have on an entity&amp;#39;s net interest income and equity. In order to properly measure IRRBB, BBVA takes into account the main sources that generate this risk: repricing risk, yield curve risk, option risk and basis risk, which are analyzed from&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; two complementary points of view: net interest income (short term) and economic value (long term)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;ALCO monitors the interest-rate risk metrics and the Assets and Liabilities Management unit carries out the management proposals for the structural balance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; sheet. The management objective is to ensure the stability of net interest income and book value in the face of changes in market interest rates, while respecting the internal solvency and limits in the different balance-sheets and for BBVA Group as a who&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;le; and complying with current and future regulatory requirements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA&amp;#39;s structural interest-rate risk management control and monitoring is based on a set of metrics and tools that enable the entity&amp;#39;s risk profile to be monitored correctly. A wide range o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;f scenarios are measured on a regular basis, including sensitivities to parallel movements in the event of different shocks, changes in slope and curve, as well as delayed movements. Other probabilistic metrics based on statistical scenario-simulating meth&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ods are also assessed, such as earnings at risk (&amp;#8220;EaR&amp;#8221;) and economic capital (&amp;#8220;EC&amp;#8221;), which are defined as the maximum adverse deviations in net interest income and economic value, respectively, for a given confidence level and time horizon. Impact threshol&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ds are established on these management metrics both in terms of deviations in net interest income and in terms of the impact on economic value. The process is carried out separately for each currency to which the Group is exposed, and the diversification e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ffect between currencies and business units is considered after this. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In order to evaluate its effectiveness, the model is subjected to regular internal validation. In addition, the banking book&amp;#8217;s interest-rate risk exposures are subjected to different st&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ress tests in order to reveal balance sheet vulnerabilities under extreme scenarios. This testing includes an analysis of adverse macroeconomic scenarios designed specifically by BBVA Research, together with a wide range of potential scenarios that aim to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;identify interest-rate environments that are particularly damaging for the entity. This is done by generating extreme scenarios of a breakthrough in interest rate levels and historical correlations, giving rise to sudden changes in the slopes and even to i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nverted curves.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The model is necessarily underpinned by an elaborate set of hypotheses that aim to reproduce the behavior of the balance sheet as closely as possible to reality. Especially relevant among these assumptions are those related to the behavior &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of Non Maturity Deposits, for which stability and remuneration assumptions are established, consistent with an adequate segmentation by type of product and customer, and prepayment estimates (implicit optionality). The assumptions are reviewed and adapted,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; at least on an annual basis, to signs of changes in behavior, kept properly documented and reviewed on a regular basis in the internal validation processes.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The impacts on the metrics are assessed both from a point of view of economic value with a static &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;model (gone concern) and from the perspective of net interest income, for which a dynamic model (going concern) consistent with the corporate assumptions of earnings forecasts is used.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The table below shows the profile of average sensitivities to net inter&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;est income and value of the main banks in BBVA Group in 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sensitivity to Interest-Rate Analysis - December 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:196.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:196.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Impact on Net Interest Income (*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:196.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:196.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Impact on Economic Value       (**)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;100 Basis-Point Increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;100 Basis-Point Decrease&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;100 Basis-Point Increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;100 Basis-Point Decrease&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Europe (***)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;+ (5% - 10%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- (5% - 10%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;+ (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;+ (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;+ (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;+ (5% - 10%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- (5% - 10%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- (5% - 10%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;+ (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;+ (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;+ (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;+ (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;+ (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;BBVA Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;+ (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;- (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;- (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;- (0% - 5%)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Percentage of &amp;quot;1 year&amp;quot; net interest income forecast for each unit.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(**)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:3pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Percentage of Core Capital for each unit.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(***)  In Europe downward movement includi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ng rates below the current ones.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:5pt;margin-bottom:5pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In 2018 in Europe monetary policy has remained expansionary, maintai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ning rates at 0% and the deposit rate at -0.4%. In USA the rising rate cycle initiated by the Federal Reserve in 2015 has continued. In Mexico and Turkey, the upward cycle has continued because of volatility of their currencies and inflation prospects. In &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;South America, monetary policy has continued to be expansive in most of the economies where the Group operates, with the exception of Argentina, where rates increased and actions were taken not to increase the monetary basis and slow the inflation.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBV&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;A Group maintains, overall a positive and moderate sensitivity in its net interest income to an increase in interest rates. The higher relative net interest income sensitivities are observed in, particularly Euro and USD. In Europe however, the decrease in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; interest rates is limited by the downward path scope in interest rates. The Group maintains a moderate risk profile, according to its target risk, through effective management of its balance sheet structural risk.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Structural exchange-rate risk &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In BBVA Gr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;oup, structural exchange-rate risk arises from the consolidation of holdings in subsidiaries with functional currencies other than the euro. Its management is centralized in order to optimize the joint handling of permanent foreign currency exposures, taki&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ng into account the diversification. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The corporate Global ALM unit, through ALCO, designs and executes hedging strategies with the main purpose of controlling the potential negative effect of exchange-rate fluctuations on capital ratios and on the equival&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ent value in euros of the foreign-currency earnings of the Group&amp;#39;s subsidiaries, considering transactions according to market expectations and their cost.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The risk monitoring metrics included in the framework of limits are integrated into management and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; supplemented with additional assessment indicators. At corporate level they are based on probabilistic metrics that measure the maximum deviation in the Group&amp;#8217;s Capital, CET1 (&amp;#8220;Common Equity Tier 1&amp;#8221;) ratio, and net attributable profit. The probabilistic m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;etrics make it possible to estimate the joint impact of exposure to different currencies taking into account the different variability in exchange rates and their correlations.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The suitability of these risk assessment metrics is reviewed on a regular basi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s through backtesting exercises. The final element of structural exchange-rate risk control is the analysis of scenarios and stress with the aim of identifying in advance possible threats to future compliance with the risk appetite levels set, so that any &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;necessary preventive management actions can be taken. The scenarios are based both on historical situations simulated by the risk model and on the risk scenarios provided by BBVA Research.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;2018 has been characterized by higher volatility levels of FX rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; in emerging markets. As for the main currencies of the geographies where the Group operates, it is worth mentioning the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;appreciation of Mexican peso and US Dollar against the euro (around 5% in both cases)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, while Turkish lira and Argentinian peso have str&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ongly depreciated (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;25%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;48%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, respectively) affected by idiosyncratic factors.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group&amp;#39;s structural exchange-rate risk exposure level has remained fairly stable since the end of 2017.  The hedging policy intends to keep low levels of sensitivity to mov&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ements in the exchange rates of emerging currencies against the euro and focuses on Mexican peso and Turkish lira. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The risk mitigation level in capital ratio due to the book value of BBVA Group&amp;#39;s holdings in foreign emerging currencies stood at around 70% &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;and, as of the end of 2018, CET1 ratio sensitivity to the appreciation of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; in the euro exchange rate for each currency is: &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;US Dollar +1.1 bps&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Mexican peso -0.2 bps&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Turkish Lira -0.2 bps&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;other currencies -0.2 bps&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. On the other hand, hedging of emerging&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;-currency denominated earnings of 2018 has reached an &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;82%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, concentrated in Mexican peso, Turkish lira and the main Latin American currencies.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Structural equity risk&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA Group&amp;#39;s exposure to structural equity risk stems basically from minority shareholdings&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; in industrial and financial companies held with long or medium-term investment horizons. This exposure is modulated in some portfolios with positions held in derivative instruments on the same underlying assets, in order to adjust the portfolio sensitivit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;y to potential changes in equity prices.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The management of structural equity portfolios is a responsibility of the Group&amp;#39;s units specialized in this area. Their activity is subject to the risk management corporate policy on structural equity risk managemen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t, complying with the defined management principles and Risk Appetite Framework.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group&amp;#39;s risk management systems also make it possible to anticipate potential negative impacts and take appropriate measures to prevent damage being caused to the entity. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The risk control and limitation mechanisms are focused on the exposure, annual performance and economic capital estimated for each portfolio. Economic capital is estimated in accordance with a corporate model based on Monte Carlo simulations, taking into a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ccount the statistical performance of asset prices and the diversification existing among the different exposures. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Stress tests and analyses of sensitivity to different simulated scenarios are carried out periodically to analyze the risk profile in more d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;epth. They are based on both past crisis situations and forecasts made by BBVA Research. This checks that the risks are limited and that the tolerance levels set by the Group are not at risk.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Backtesting is carried out on a regular basis on the risk measur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ement model used. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With regard to the equity markets, the world indexes have closed the year 2018 with generalized falls and volatility surges in a macro environment of global growth slowdown, increase of the political uncertainty and normalization of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;monetary policies.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Structural equity risk, measured in terms of economic capital, has decreased in the period mainly due to lower exposure. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The aggregate sensitivity of the BBVA Group&amp;#8217;s consolidated equity to a 1% fall in the price of shares of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;companies making up the equity portfolio remained at around &amp;#8364;-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;28&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&amp;#160;million as of December 31, 2018 and &amp;#8364;-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;32&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million as of December 31, 2017. This estimation takes into account the exposure in shares valued at market prices, or if not applicable, at fair valu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;e (excluding the positions in the Treasury Area and the net delta-equivalent positions in derivatives on the same underlyings.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.4.3   Financial Instruments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;offset&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Financial assets and liabilities may be netted, i.e. they are presented for a net amount on&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the consolidated balance sheet only when the Group&amp;#39;s entities satisfy with the provisions of IAS 32-Paragraph 42, so they have both the legal right to net recognized amounts, and the intention of settling the net amount or of realizing the asset and simul&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;taneously paying the liability.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, the Group has presented as gross amounts assets and liabilities on the consolidated balance sheet for which there are master netting arrangements in place, but for which there is no intention of settling net. Th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e most common types of events that trigger the netting of reciprocal obligations are bankruptcy of the entity, surpassing certain level of indebtedness threshold, failure to pay, restructuring and dissolution of the entity.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the current market context, d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;erivatives are contracted under different framework contracts being the most widespread developed by the International Swaps and Derivatives Association (&amp;#8220;ISDA&amp;#8221;) and, for the Spanish market, the Framework Agreement on Financial Transactions (&amp;#8220;CMOF&amp;#8221;). Almos&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t all portfolio derivative transactions have been concluded under these framework contracts, including in them the netting clauses mentioned in the preceding paragraph as &amp;quot;Master Netting Agreement&amp;quot;, greatly reducing the credit exposure on these instruments&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. Additionally, in contracts signed with professional counterparties, the collateral agreement annexes called Credit Support Annex (&amp;#8220;CSA&amp;#8221;) are included, thereby minimizing exposure to a potential default of the counterparty.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Moreover, in transactions invol&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ving assets purchased or sold under a repurchase agreement there is a high volume transacted through clearing houses that articulate mechanisms to reduce counterparty risk, as well as through the signature of various master agreements for bilateral transac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tions, the most widely used being the Global Master Repurchase Agreement (GMRA), published by International Capital Market Association (&amp;#8220;ICMA&amp;#8221;), to which the clauses related to the collateral exchange are usually added within the text of the master agreeme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nt itself.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;A summary of the effect of the compensation (via netting and collateral) for derivatives and securities operations is presented below as of December 31, 2018, 2017 and 2016:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:130.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Gross Amounts Not Offset in the Consolidated Balance Sheets (D)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:60pt;' &gt;&lt;td style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Gross Amounts Recognized (A)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Gross Amounts Offset in the Consolidated Balance Sheets (B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net Amount Presented in the Consolidated Balance Sheets (C=A-B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial Instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Cash Collateral Received/ Pledged&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net Amount (E=C-D)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:130.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;49,908&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16,480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33,428&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;613&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Reverse repurchase, securities borrowing and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28,074&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28,032&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28,022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(159)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:130.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;77,982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;16,522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;61,460&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;53,046&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;7,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;454&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:130.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;51,596&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17,101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34,494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,788&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,682&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Repurchase, securities lending and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43,035&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;42,993&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;42,877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:130.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;94,631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;17,143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;77,487&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;67,901&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;6,822&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,765&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;December 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Gross Amounts Not Offset in the Consolidated Balance Sheets (D)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:91.5pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Gross Amounts Recognized (A)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Gross Amounts Offset in the Consolidated Balance Sheets (B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net Amount Presented in the Consolidated Balance Sheets (C=A-B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial Instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Cash Collateral Received/ Pledged&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net Amount (E=C-D)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;49,333&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,584&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;37,749&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,202&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Reverse repurchase, securities borrowing and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26,426&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26,369&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26,612&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(384)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;75,759&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;11,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;64,118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;53,717&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;7,583&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,818&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50,693&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;39,049&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,615&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Repurchase, securities lending and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;40,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;40,078&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;40,158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;90,827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;11,701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;79,126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;67,264&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8,349&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3,514&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;December 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:39pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Gross Amounts Not Offset in the Consolidated Balance Sheets (D)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:60pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Gross Amounts Recognized (A)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Gross Amounts Offset in the Consolidated Balance Sheets (B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net Amount Presented in the Consolidated Balance Sheets (C=A-B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial Instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Cash Collateral Received/ Pledged&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net Amount (E=C-D)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59,374&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13,587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;45,788&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;32,146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,571&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,070&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Reverse repurchase, securities borrowing and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25,833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,912&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22,921&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,080&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;174&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(333)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;85,208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;16,499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;68,709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;55,226&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;6,745&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;6,738&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59,545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14,080&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;45,465&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;32,146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,272&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,047&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Repurchase, securities lending and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;49,474&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,912&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46,562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;47,915&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,529)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;109,019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;16,991&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;92,027&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;80,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;7,448&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4,518&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.5    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Liquidity risk&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.5.1   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Liquidity risk management&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Management of liquidity and structural finance within the BBVA Group is based on the principle of the financial autonomy of the entities that make it up. This approach helps prevent and limit liquidity risk by reducing the Group&amp;#8217;s vulnerability in periods &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of high risk. This decentralized management avoids possible contagion due to a crisis that could affect only one or several BBVA Group entities, which must cover their liquidity needs independently in the markets where they operate. Liquidity Management Un&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;its (LMUs) have been set up for this reason in the geographical areas where the main foreign subsidiaries operate, an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;d also for the parent BBVA S.A.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Assets and Liabilities Management unit manages BBVA Group&amp;#39;s liquidity and funding. It plans and executes th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e funding of the long-term structural gap of each LMUs and proposes to ALCO the actions to adopt in this regard in accordance with the policies and limits establi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;shed by the Standing Committee.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As first core element, the Bank&amp;#39;s target in terms of liquidity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and funding risk is characterized through the Liquidity Coverage Ratio (LCR) and the Loan-to-Stable-Customer-Deposits (LtSCD) ratio. LCR is a regulatory measurement aimed at ensuring entities&amp;#8217; resistance in a scenario of liquidity stress within a time hor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;izon of 30 days. BBVA, within its risk appetite framework and its limits and alerts schemes, has established a level of requirement for compliance with the LCR ratio both for the Group as a whole and for each of the Liquidity Management Units (LMUs) indivi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;dually. The internal levels required are geared to comply sufficiently and efficiently in advance with the implementation of the regulatory requirement &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of 2018, at a level above 100%.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;LCR ratio in Europe was applicable as from October 1, 2015. With an init&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ial 60% minimum requirement, progressively increased (phased-in) up to 100% in 2018. Throughout the year 2018, LCR level at BBVA Group has been above 100%. As of December 31, 2018, the LC&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;R ratio at Group level is 127%.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Although this regulatory requirem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ent is mandatory at a Group level and Eurozone banks, all subsidiaries are above this minimum. In any case, it should be noted that liquidity excesses in subsidiaries are not deemed transferable when calculating the consolidated ratio. Taking into account &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the impact of these High Quality Liquid Assets excluded, LCR ratio would be &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;154%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, which is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;+27% above the Group&amp;#8217;s LCR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.15pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;LCR main LMU&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:383.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:383.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;127%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;128%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:383.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Eurozone&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;151%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:383.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Bancomer&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;154%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;148%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:383.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Compass(*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;144%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:383.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;209%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;134%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  Compass LCR calculated according to local regulation (Fed Modified LCR).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The LtSCD measures the relation be&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tween the net loans credit investment and stable customer deposits. The aim is to preserve a stable funding structure in the medium term for each of the LMUs making up BBVA Group, taking into account that maintaining an adequate volume of stable customer f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;unds is key to achie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ving a sound liquidity profile.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Stable customer deposits are defined as the customer funds captured and managed by business units among their target customers. These funds usually show little sensitivity to market changes and are largel&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;y non-volatile in terms of aggregate amounts per transaction, thanks to customer linkage to the unit. Stable funds in each LMU are calculated by analyzing the behavior of the balance sheets of the different customer segments identified as likely to provide&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; stability to the funding structure, and by prioritizing an established relationship and applying bigger haircuts to the funding lines of less stable customers. The main base of stable funds is composed of deposits by retail individual customers and small &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;businesses.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;For the purpose of establishing the (maximum) target levels for LtSCD in each LMU and providing an optimal funding structure reference in terms of risk appetite, GRM-Structural Risks identifies and assesses the economic and financial variables &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;that condition the funding structures in the various geographical areas.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The behavior of the indicators reflects that the funding structure remained robust in 2018, 2017 and 2016, in the sense that all the LMUs maintain levels of self-funding with stable c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ustomer funds higher than the required levels.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.15pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;LtSCD by LMU&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Group (average)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;106%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;110%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;113%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Eurozone&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;101%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Bancomer&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;114%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;109%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Compass&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;119%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;109%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;110%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;124%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other LMUs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;107%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The second core element in liquidity and funding risk management is to achieve proper diversification of the funding structure, avoiding excessive reliance on short-term funding and es&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tablishing a maximum level of short-term funding comprising both wholesale funding as well as funds from less stable non-retail customers. Regarding long-term funding, the maturity profile does not show significant concentrations, which enables adaptation &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of the anticipated issuance schedule to the best financial conditions of the markets. Finally, concentration risk is monitored at the LMU level, with a view to ensuring the right diversification both per counte&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rparty and per instrument type.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The third elem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ent promotes the short-term resilience of the liquidity risk profile, making sure that each LMU has sufficient collateral to address the risk of wholesale markets closing. Basic Capacity is the short-term liquidity risk management and control metric that i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s defined as the relationship between the available explicit assets and the maturities of wholesale liabilities and volatile funds, at different terms to one year, with special relevance being given to 30 and 90-day maturities.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Each entity maintains an ind&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ividual liquidity buffer, both Banco Bilbao Vizcaya Argentaria, S.A. and its subsidiaries, including BBVA Compass, BBVA Bancomer, Garanti Bank and the Latin American subsidiaries. The table below shows the liquidity available by instrument as of December 3&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1, 2018 and 2017 for the most significant entities based on prudential supervisor&amp;#8217;s information &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;(Commission Implementing Regulations (EU) 2017/2114 of November 9, 2017)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:479.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:479.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;BBVA Eurozone&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;BBVA Bancomer &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;BBVA Compass &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Garanti Bank&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash and withdrawable central bank reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,506&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,666&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,633&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,677&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Level 1 tradable assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29,938&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,995&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,502&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,652&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Level 2A tradable assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;449&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Level 2B tradable assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;4,040&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other tradable assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;5,661&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,043&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;617&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non tradable assets eligible for central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,314&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Cumulated Counterbalancing Capacity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;66,594&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,475&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;16,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,634&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;10,946&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:479.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:479.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;BBVA Eurozone (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;BBVA Bancomer &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;BBVA Compass &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Garanti Bank&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash and withdrawable central bank reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,634&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,649&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,692&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Level 1 tradable assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,954&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,805&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,028&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,141&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Level 2A tradable assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;418&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;753&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Level 2B tradable assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;4,995&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other tradable assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;6,734&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,703&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;962&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,573&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non tradable assets eligible for central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,800&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Cumulated Counterbalancing Capacity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;66,703&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;15,983&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;13,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;13,828&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  Includes Spain, Portugal and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Rest of Eurasia.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Stress analyses are also a basic element of the liquidity and funding risk monitoring system, as they help anticipate deviations from the liquidity targets and limits set out in the risk appetite as well as establish tolerance ranges at di&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;fferent management levels. They also play a key role in the design of the Liquidity Contingency Plan and in defining the specific measures for action for realigning the risk profile.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;For each of the scenarios, a check is carried out whether BBVA has suffic&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ient liquid assets to meet the liquidity commitments/outflows in the various periods analyzed. The analysis considers four scenarios, one core and three crisis-related: systemic crisis; unexpected internal crisis with a considerable rating downgrade and/or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; affecting the ability to issue in wholesale markets and the perception of business risk by the banking intermediaries and the BBVA&amp;#39;s customers; and a mixed scenario, as a combination of the two aforementioned scenarios. Each scenario considers the followi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ng factors: liquidity existing on the market, customer behavior and sources of funding, impact of rating downgrades, market values of liquid assets and collateral, and the interaction between liquidity requirements and the performance of the BBVA&amp;#39;s asset q&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;uality.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The results of these stress analyses carried out regularly reveal that BBVA has a sufficient buffer of liquid assets to deal with the estimated liquidity outflows in a scenario such as a combination of a systemic crisis and an unexpected internal c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;risis, during a period in general longer than 3 months for LMUs, including a major downgrade in the BBVA&amp;#39;s r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ating (by up to three notches).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Beside the results of stress exercises and risk metrics, Early Warning Indicators play an important role in the corp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;orate model and also in the Liquidity Contingency Plan. These are mainly financing structure indicators, related to asset encumbrance, counterparty concentration, outflows of customer deposits, unexpected use of credit lines, and market indicators, which h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;elp to anticipate potential risks and capture market expectations.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Below is a matrix of residual maturities by contractual periods based on supervisory prudential reporting as of December 31, 2018, 2017 and 2016&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15.75pt;' &gt;&lt;td colspan='12' rowspan='1' style='width:710.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:710.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2018. Contractual Maturities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Up to 1 Month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 3 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 6 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6 to 9 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;9 to 12 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 2 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2 to 3 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 5 Years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Over 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;50,149&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits in credit entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,211&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits in other financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,408&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;750&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;647&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,724&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;896&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,764&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;10,515&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reverse repo, securities borrowing and margin lending&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,266&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,655&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;805&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;205&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,352&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;390&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;27,539&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,825&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,347&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,433&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32,336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53,386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120,571&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;349,334&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securities&amp;#39; portfolio settlement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,875&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,990&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,823&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,592&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,423&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,533&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,738&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;96,501&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='12' rowspan='1' style='width:710.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:710.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2018. Contractual Maturities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Up to 1 Month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 3 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 6 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6 to 9 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;9 to 12 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 2 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2 to 3 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 5 Years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Over 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,678&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,652&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,425&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,736&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,225&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,040&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;69,858&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits in financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;751&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;377&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,149&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;904&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;19,544&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits in other financial institutions and international agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,327&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;458&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;781&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;304&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;825&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,692&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;21,258&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;252,630&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44,866&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,514&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,625&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,217&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,345&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,137&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,310&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;350,518&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Security pledge funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,489&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,274&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,911&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;218&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,627&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;76,515&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(75)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(523)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(68)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(117)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(67)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(392)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(840)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='12' rowspan='1' style='width:710.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:710.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2017. Contractual Maturities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:61.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Up to 1 Month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 3 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 6 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6 to 9 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;9 to 12 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 2 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2 to 3 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 5 Years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Over 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,029&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;39,208&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits in credit entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,868&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;7,488&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits in other financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;796&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,029&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;806&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,975&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;8,060&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reverse repo, securities borrowing and margin lending&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,979&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,689&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,921&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;541&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;426&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;727&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;226&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;26,354&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,203&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,380&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43,973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,383&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;123,568&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;358,028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securities&amp;#39; portfolio settlement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,579&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,423&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,380&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,789&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,289&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,070&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44,666&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;99,747&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='12' rowspan='1' style='width:710.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:710.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2017. Contractual Maturities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:52.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Up to 1 Month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 3 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 6 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6 to 9 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;9 to 12 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 2 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2 to 3 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 5 Years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Over 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,238&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30,162&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;76,535&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits in financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,831&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,863&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,082&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,335&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,714&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;930&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;765&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,429&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;21,512&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits in other financial institutions and international agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,700&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,290&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,045&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;25,307&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;233,068&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45,171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,616&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,428&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,368&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,612&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,034&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;341,448&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Security pledge funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,502&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,284&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,009&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;338&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,697&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;65,668&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(110)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(116)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(135)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(117)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(336)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(106)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(419)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(1,448)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='12' rowspan='1' style='width:710.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:710.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2016. Contractual Maturities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:61.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Up to 1 Month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 3 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 6 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6 to 9 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;9 to 12 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 2 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2 to 3 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 5 Years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Over 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,825&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;37,016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits in credit entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;991&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,068&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;155&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,087&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;10,002&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits in other financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;967&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;675&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;714&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;532&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;918&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;942&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;7,608&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reverse repo, securities borrowing and margin lending&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,232&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;544&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;428&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;22,826&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,272&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,990&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,613&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44,956&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,093&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55,561&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;133,589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;370,195&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securities&amp;#39; portfolio settlement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;708&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,566&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,688&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,301&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,312&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,662&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51,472&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;112,039&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='12' rowspan='1' style='width:710.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:710.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2016. Contractual Maturities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:52.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Up to 1 Month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 3 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 6 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6 to 9 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;9 to 12 Months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 2 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2 to 3 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 5 Years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Over 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;419&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,380&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,463&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,967&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,825&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,875&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;85,397&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits in financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,762&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,365&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,104&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;800&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;746&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,156&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;859&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,714&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;24,862&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits in other financial institutions and international agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,542&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,382&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,566&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,897&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,340&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;686&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;875&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,825&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;44,114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;206,140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49,053&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,736&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,863&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,343&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,060&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;781&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;936&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;335,052&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Security pledge funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,561&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,403&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,004&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;912&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,281&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;640&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,712&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;72,626&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2,123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(95)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(190)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(111)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(326)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(132)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(105)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(3,210)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The matrix shows the retail nature of the funding structure, with a loan portfolio being mostly funded by c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ustomer deposits (66%). On the outflows side of the matrix, the &amp;#8220;demand&amp;#8221; maturity bucket mainly contains the retail customer sight accounts whose behavior historically showed a high level of stability and littl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e concentration. According to a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; behavior anal&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ysis which is done every year in every entity, this type of account is considered to be stable and for liquidity risk purposes, it is estimated that 78% have a maturity of more than 5 years.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the Euro Liquidity Management Unit (LMU), solid liquidity and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;funding situation, where activity has continued to generate liquidity through the decrease of Credit Gap&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;In addition, during 2018 the Euro LMU made 3 issues in the public market for &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;3,500&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Senior Non Preferred (&amp;#8220;SNP&amp;#8221;) at 5 years for &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1,500&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; millio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n, Green bond SNP at 7 years for &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1,000&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million and AT1 for &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1,000&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, which&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; have allowed it to obtain long-term funding at favorable price conditions. These public operations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; have been complemented by a private issue T2 for USD &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;300&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In Mexico&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, sound liquidity position despite the market volatility, the Credit Gap has increased in 2018 due to a minor increase in deposits mainly because of the outflows of non-profitable USD deposits. During the financial year 2018, BBVA Bancomer made a local Tie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;r II issuance on international markets for USD &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1,000&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million as well as an issuance on the local market for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;7,000&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million of Mexican pesos in 2 tranches: at 3 and 5 years, being the 3 years tranche the first Green Bond issued by a private bank.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the Unit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ed States, the containment of the cost of liabilities has led to a slightly increase in the credit gap. During the financial year 2018, BBVA Compass successfully issued 3 year senior debt for USD &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1,150&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In Turkey an adequate liquidity situation is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;maintained, after having been affected by the currency volatility at the beginning of the second semester. Despite this, Garanti showed a good performance with the roll-over of the 2018 maturities of corporate funding. The main operations during the year w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ere two syndicated loans for USD &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;2,300&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, the first Green Bond at 6 years for USD &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;75&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;future flows securitization&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; (Diversified Payment Rights) for USD &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;375&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million at 7 years.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Argentina was affected by the market volatility but no relevant &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;impact on the liquidity situation of the entity has been noted. BBVA Franc&amp;#233;s maintains a solid liquidity situation distinguished by a major volume of cash reserves.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The liquidity position of the rest of subsidiaries has continued to be sound, maintaining a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; solid liquidity position in all the jurisdictions in which the Group operates. Access to capital markets of these subsidiaries has also been maintained with recurring issuances in the local market.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In this context, BBVA has maintained its objective of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; strengthening the funding structure of the different Group entities based on growing their self-funding from stable customer funds, while guaranteeing a sufficient buffer of fully available liquid assets, diversifying the various sources of funding availa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ble, and optimizing the generation of collateral available for dealing with stress situations in the markets.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.5.2   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#004580;' &gt;Asset encumbrance&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, the encumbered (those provided as collateral for certain liabilities) and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;unencumbered assets are broken down as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Non-Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Book value of Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Market value of Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Book value of non-encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Market value of non-encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,864&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,864&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,485&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32,216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82,209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82,209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances and other assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74,928&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;background-color:#A6A6A6;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;478,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;background-color:#A6A6A6;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Non-Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Book value of Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Market value of Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Book value of non-encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Market value of non-encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;background-color:#FFFFFF;border-color:#000000;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;background-color:#FFFFFF;border-color:#000000;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;background-color:#FFFFFF;border-color:#000000;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;background-color:#FFFFFF;border-color:#000000;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,297&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,297&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,616&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,616&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,700&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29,798&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;84,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;84,391&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances and other assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;79,604&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;background-color:#A6A6A6;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;485,451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;background-color:#A6A6A6;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Non-Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Book value of Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Market value of Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Book value of non-encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Market value of non-encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,022&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39,972&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90,679&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90,679&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances and other assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;94,718&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;background-color:#A6A6A6;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;495,109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;background-color:#A6A6A6;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The committed value of &amp;quot;Loans and Advances and other assets&amp;quot; corresponds mainly to loans linked to the issue of covered bonds, ter&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ritorial bonds or long-term securitized bonds (see Note 22.3) as well as those used as a guarantee to access certain funding transactions with central banks. Debt securities and equity instruments correspond to underlying that are delivered in repos with d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ifferent types of counterparties, mainly clearing houses or credit institutions, and to a lesser extent central banks. Collateral provided to guarantee derivative transactions is also included as committed assets.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;llateral pledge mainly due to repurchase agreements and securities lending, and those which could be committed in order to obtain funding are provided below:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:484.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:484.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2018. Collateral received (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:72.75pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair value of encumbered collateral received or own debt securities issued&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair value of collateral received or own debt securities issued available for encumbrance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Nominal amount of collateral received or own debt securities issued not available for encumbrance&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Collateral received&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;27,474&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;5,633&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;319&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,385&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,542&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;300&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:250.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances and other assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Own debt securities issued other than own covered bonds or ABSs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2017. Collateral received (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:72.75pt;' &gt;&lt;td style='width:249.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:249.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair value of encumbered collateral received or own debt securities issued&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair value of collateral received or own debt securities issued available for encumbrance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Nominal amount of collateral received or own debt securities issued not available for encumbrance&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:249.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:249.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Collateral received&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;23,881&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;9,630&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;201&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:249.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:249.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:249.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:249.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,715&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;121&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:249.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:249.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances and other assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;80&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:249.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:249.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Own debt securities issued other than own covered bonds or ABSs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:484.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:484.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2016. Collateral received (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:72.75pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair value of encumbered collateral received or own debt securities issued&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair value of collateral received or own debt securities issued available for encumbrance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Nominal amount of collateral received or own debt securities issued not available for encumbrance&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Collateral received&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;19,921&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;10,039&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;173&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,863&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,230&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:250.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances and other assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,750&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;144&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Own debt securities issued other than own covered bonds or ABSs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The guarantees recei&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ved in the form of reverse repurchase agreements or security lending transactions are committed by their use in repurchase agreements, as is&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the case with debt securities.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, financial liabilities issued related to encu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;mbered assets in financial transactions as well as their book value were as follows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2018. Sources of encumbrance (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:101.25pt;' &gt;&lt;td style='width:327.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:327.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Matching liabilities, contingent liabilities or securities lent&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Assets, collateral received and own&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;debt securities issued other than covered bonds and ABSs encumbered&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:327.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:327.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Book value of financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;113,498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;131,172&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:327.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:327.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,972&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,036&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:327.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:327.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;85,989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97,361&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:327.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:327.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Outstanding subordinated debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,775&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:327.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:327.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other sources&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,972&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;4,330&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:484.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:484.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2017. Sources of encumbrance (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30.6pt;' &gt;&lt;td style='width:328.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:328.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Matching liabilities, contingent liabilities or securities lent&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Assets, collateral received and own&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;debt securities issued other than covered bonds and ABSs encumbered&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:328.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:328.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Book value of financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;118,704&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;133,312&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:328.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:328.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:328.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:328.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87,484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;98,478&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:328.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:328.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Outstanding subordinated debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,377&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,732&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:328.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:328.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other sources&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:78pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;1,028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;December 2016. Sources of encumbrance (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:328.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:328.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Matching liabilities, contingent liabilities or securities lent&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Assets, collateral received and own&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;debt securities issued other than covered bonds and ABSs encumbered&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:328.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:328.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Book value of financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;134,387&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;153,632&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:328.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:328.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,304&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,794&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:328.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:328.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96,137&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108,268&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:328.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:328.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Outstanding subordinated debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,946&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,569&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:328.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:328.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other sources&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;2,594&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.6    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Operational Risk&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA defines operational risk (&amp;#8220;OR&amp;#8221;) as any risk that could result &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in losses caused by human errors, inadequate or faulty internal processes, misconduct with clients or in the markets, failures, disruptions or deficiencies of systems or communications, inadequate data management, legal risks and, lastly, from external eve&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nts, including cyberattacks, frauds committed by third parties, disasters and an unsatisfactory&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; service provided by suppliers.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Operational risk management is oriented towards the identification of the root causes to avoid their occurrence and mitigate &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;possible consequences. This is carried out through the establishment of mitigation plans and control frameworks aimed at minimizing resulting losses and their impact on the recurrent generation of income and the profit of the Group. Operational risk manage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ment is integrated into the global risk management structure of the BBVA Group.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This section addresses general aspects of operational risk management as the main component of non-financial risks. However, sections devoted to conduct and compliance risk and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; to cybersecurity risk management ar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e also included in this report.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Operational Risk Management Principles&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The BBVA Group is committed to preferably applying advanced operational risk management models, regardless of the capital calculation regulatory mode&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;l applicable at the time. Operational risk management at the BBVA Group shall:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Be in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;line&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; with the Risk Appetite Framework approved by BBVA&amp;#39;s Board of Directors.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Meet BBVA&amp;#8217;s management needs arising from compliance with rules, regulation, industry standard&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;s and from decisions or positions taken by the governing bodies of the Group.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Predict potential operational risks to which the Group shall be exposed as a result of the emergence or changes on new products, activities, processes or systems and services pro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;curement or outsourcing decisions; and establish mechanisms to achieve a reasonable assessment and mitigation before implementation, in addition to a regular review on all existing processes.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Establish methodologies, procedures and indicators to regularly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;reassess the relevant operational risks to which the Group is exposed to implement the most appropriate mitigation measures in each case, once the identified risk and the mitigation cost have been considered (cost-benefit analysis) and preserving the solve&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ncy of the Group at all times.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Seek the causes behind the operational events suffered by the Group and establish the appropriate redressing measures (always considering the cost-benefit analysis). To that end, procedures for analyzing operational events mu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;st be in place, in addition to mechanisms to capture the potential operational losses resulting from those events.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Analyze the public events with significant operational risk in other entities and to promote, if applicable, the implementation of the approp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;riate measures to avoid its occurrence in the Group.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Identify, analyze and try to quantify events with a low probability of occurrence and a high impact that, due to their exceptional nature, may not be included in the loss database or, if included, with n&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ot highly representative impacts, in order to assess possible mitigation measures.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Have an effective governance on which the functions and responsibilities of the Areas and Bodies intervening in OR management are clearly defined.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Irrespective of the implem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;entation of all the possible measures and controls designed to avoid or mitigate the frequency and severity of OR events, BBVA ensures at all times the capital required to face potential expected or unexpected losses.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;Operational risk control and manageme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#094FA4;' &gt;nt model&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;The operational risk management cycle at BBVA is similar to the one implemented for the rest of risks. Its elements are:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Planning&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Operational risk forms part of the risk appetite framework of the Group and includes three types of metrics: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Economic capital calculated with the operational losses database of the Group and the industry, considering the corresponding diversification effects and the additional estimation of potential and emerging risks through stress scenarios designed for the ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;in types of risks. The economic capital is regularly calculated for the main banks of the group and simulation capabilities are available to anticipate the impact of changes on the risk profile or new potential events.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;IRO metrics (operational risk losses &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;vs. gross income) broken down by geography, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;business area and type of risk.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;In addition, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;work&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; is in progress on the implementation in the entire group of a common and more granular scheme of metrics that covers the main types of operational risks.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Operatio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt;nal risk admission&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The main purposes of the operational risk admission phase are the following:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Anticipate potential operational risks to which the Group would be exposed with the emergence of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;new&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; initiatives (new business, product, outsourcing, process transformation, new systems, etc.) or changes in those initiatives in place.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Ensure&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; that the implementation is carried out once the appropriate mitigation measures have been adopted, among others ri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;k insurance, where appropriate.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Corporate Policy on Operational Risk Management and Control sets out the specific operational risk admission framework through different committees, at a corporate and Business Area level, that follow a delegation struc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ture based on the risk level of proposed initiatives.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Operational risk monitoring&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The purpose of this phase is to check that the target operational risk profile of the group is within the authorized limits. Operational risk monitoring considers 2 scopes:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;M&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;onitoring the operational risk admission process, oriented towards checking that accepted risks &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; are within the limits and that defined controls are effective.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Monitoring the operational risk &amp;#8220;stock&amp;#8221; linked to the processes, in order to carry out a r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;egular &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;reassessment&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; to confirm that residual risks and target risk are reasonably aligned and, if not, to implement action plans to red&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ress gaps to the desired level.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This process is supported by a corporate Governance, Risk &amp;amp; Compliance tool that monitors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; OR at a local level and its aggregation at a corporate level.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, and in line with the best practices and recommendations provided by the BIS, BBVA has procedures to collect the operational losses occurred in the different entities of the Group a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nd in other financial groups, with the appropriate level of detail to carry out an effective analysis that provides useful information for management purposes. To that end, a corporate tool implemented in all the countries of the Group is used.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Operationa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt;l risk mitigation&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Several cross-sectional operational risk plans have been promoted over the last two years for the entire BBVA Group to encourage a forward-looking management of these risks. To that end, focuses have been identified from events, self-asse&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ssments and recommendations from auditors and supervisors in different geographies, both in the Group and the industry, thereby analyzing the best practices and fostering comprehensive action plans to strengthen and standardize the control environment.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;One&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of the core plans is outsourcing management, which is an increasingly important subject in the Group, the industry and the regulatory environment. Some of the different initiatives launched under this scheme are summarized below:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Strengthening&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; the admissi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;on process of these initiatives and their con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;trol and monitoring frameworks.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;New&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; internal regulation comprising the best practices of the industry.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Integration&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; in the 3 lines of defense control model: roles and responsibilities in each phase of it&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;s life cy&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;cle.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Risk &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;management&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;f the service and the supplier.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Review&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; of its governance process, which is included in operational risk governance, and escalation criteria.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Adaptation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; of the managemen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;t tool to the new requirements.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Internal communication process and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; training between outsourcing units and senior management, including &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;these&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; issues on the agenda of the main control committees of the Group.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This plan will still be promoted in the year 2019 with a focus on a review of the most significant outsourcing stoc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;k.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Governance of Non-financial risks&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The non-financial risks governance model at the BBVA Group is based on two components:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;three&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; lines of defense control model, in accordance with the best practices of the industry and through which compliance with &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the most advanced standards in terms of operational risk internal control is ensured.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Scheme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; of Corporate Assurance Committees and Operational Risk and Internal Control Committees at the level of the different business areas.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Corporate Assurance establishe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s a structure of corporate and local committees that provides Senior &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Management with a comprehensive and consistent view of the most relevant non-financial risks. The purpose&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; is to ensure a forward-looking and prompt decision-making process for the mitigat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ion or taking of the major risks both at a local level and at the l&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;evel of the consolidated Group.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, the Non-Financial Risks unit periodically reports the Risk Committee of the Board on the situation of non-financial risks management in the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Group.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.7    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Risk concentration&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Policies for preventing excessive risk concentration &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In order to prevent the build-up of excessive risk concentrations at the individual, sector and portfolio levels, BBVA Group maintains updated maximum permitted risk co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ncentration indices which are tied to the various observable variables related to concentration risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Together with the limits for individual concentration, the Group uses the Herfindahl index to measure the concentration of the Group&amp;#39;s portfolio and the b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;anking group&amp;#39;s subsidiaries. At the BBVA Group level, the index reached implies a &amp;quot;very low&amp;quot; degree of concentration.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The limit on the Group&amp;#8217;s exposure or financial commitment to a specific customer therefore depends on the customer&amp;#8217;s credit rating, the na&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ture of the risks involved, and the Group&amp;#8217;s presence in a given market, based on the following guidelines:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The aim is, as much as possible, to reconcile the customer&amp;#39;s credit needs (commercial/financial, short-term/long-term, etc.) with the interests of th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;e Group.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Any legal limits that may exist concerning risk concentration are taken into account (relationship between risks with a customer and the capital of the shareholder&amp;#180;s entity that assumes them), the markets, the macroeconomic situation, etc.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Risk &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt;concentrations by geography&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the main figures in the most significant foreign currencies in the accompanying consolidated balance sheets is set forth in Appendix IX.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Sovereign risk concentration &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Sovereign risk management&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The risk associate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;d with the transactions involving sovereign risk is identified, measured, controlled and tracked by a centralized unit integrated in the BBVA Group&amp;#8217;s Risk Area. Its basic functions involve the preparation of reports in the countries where sovereign risk ex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ists (called &amp;#8220;financial programs&amp;#8221;), tracking such risks, assigning ratings to these countries and, in general, supporting the Group in terms of reporting requirements for any transactions involving sovereign risk. The risk policies established in the finan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;cial programs are approved by the relevant risk committees.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The country risk unit tracks the evolution of the risks associated with the various countries to which the Group are exposed (including sovereign risk) on an ongoing basis in order to adapt its ri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sk and mitigation policies to any macroeconomic and political changes that may occur. Moreover, it regularly updates its internal ratings and forecasts for these countries. The methodology is based on the assessment of quantitative and qualitative paramete&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rs which are in line with those used by certain multilateral organizations such as the International Monetary Fund (IMF) and the World Bank, rating agencies and export credit organizations.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;For additional information on sovereign risk in Europe see Appendi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;x IX.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Valuation and impairment methods&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The valuation methods used to assess the instruments that are subject to sovereign risks are the same ones used for other instruments included in the relevant portfol&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ios and are detailed in Note 8.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Specifically, the f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;air value of sovereign debt securities of European countries has been considered equivalent to their listed price in active markets (Level 1 as defined in Note 8).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;Risk related to the developer and Real-Estate sector in Spain&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The relative weight of the inv&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;estment in Real Estate developments has dramatically decreased during the last years, especially since 2014. A corporate sales policy has been rolled out to eliminate those real estate assets from the balance sheet which have been most difficult to be comm&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ercialized. The sales of 80% of the Group&amp;#8217;s share in Divarian and of other performing and NPL wholesale portfolios to Funds and specialized investors have been some of the most relevant transactions (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Policies and strategies established by the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#006EC1;' &gt;Group to deal with risks related to the developer and real-estate sector&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA has teams specializing in the management of the Real-Estate Sector risk, given its economic importance and specific technical component. This specialization is not only in the Ri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sk-Acceptance teams, but throughout the handling, commercial, problem risks and legal, etc. It also includes the research department of the BBVA Group (BBVA Research), which helps determine the medium/long-term vision needed to manage this portfolio.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;olicies established to address the risks related to the developer and real-estate sector, aim to accomplish, among others, the following objectives: to avoid concentration in terms of customers, products and regions; to estimate the risk profile for the po&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rtfolio; and to anticipate possible worsening of the portfolio within a sector is highly cyclic&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Specific policies for analysis and admission of new developer risk transactions&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the analysis of new operations, the assessment&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of the commercial operation in terms of the economic and financial viability of the project has been one of the constant.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The monitoring of the work, the sales and the legal situation of the project are essential aspects for the admission and follow-up of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; new real estate operations. With regard the participation of the Risk Acceptance teams, they have a direct link and participate in the committees of areas such as Valuation, Legal, Research and Recoveries. This guarantees coordination and exchange of info&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rmation in all the processes.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following strategies have been implemented with customers in the developer sector: avoidance of large corporate transactions, which had already reduced their share in the years of greatest market growth. Additionally, very&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; restrictive limits have been established for the second-home market and for the of land operations. Feasibility studies, at project level, are performed by doing a contrast analysis in the pre-commercialization phase, with an appropriate funding cycle and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; in locations with low commercialization risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Risk monitoring policies&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The base information for analyzing the real estate portfolios is updated monthly. The tools used include the so-called &amp;#8220;watch-list&amp;#8221;, which is updated monthly with the progress of each&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; client under watch, and the different strategic plans for management of special groups. There are plans that involve an intensification of the review of the portfolio for financing land, while, in the case of ongoing promotions, they are classified based &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;on the rate of progress of the projects. This implies a comparison of the progress of the work and the sales, including a scoreboard which enables the persons in charge to detect timely any deviation from the project&amp;#8217;s initial plan.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These actions have enab&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;led BBVA to identify possible impairment situations, by always keeping an eye on BBVA&amp;#8217;s position with each customer (whether or not as first creditor). In this regard, key aspects include management of the risk policy to be followed with each customer, con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tract review, improved collateral and rate review (repricing. Since 2013, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;there are no threats o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;f new defaults in the portfolio&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Proper management of the relationship with each customer requires knowledge of various aspects such as an analysis of the compan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;y&amp;#8217;s future viability, the updating of the information on the debtor and the guarantors (their current situation and business course, economic-financial information, debt analysis and generation of funds), and the updating of the appraisal of the assets off&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ered as collateral.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The volume of restructurings during the last period has b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;een very low, being close to 0.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Policies applied in the management of real estate assets in Spain&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Regarding the financing of real estate, a new regulation has been updated in 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; in which recommendations for the promotion of residential real estate are established.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The recommendations represent guidelines about how to manage the credit admission activity of BBVA Group entities based on best practices of markets in which this activ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ity is performed. It is expected that a high percentage of the current transactions will be in compliance with the latter.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The guidelines apply to new transactions with clients which are not classified as impaired or Watchlist (WL1 or WL2).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The policies de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;riving from the guidelines foresee a prudential intervention in a market which has changed its cycle in almost all of the geographies and which is showing a more sustainable behavior in terms of demography, employment and economic and investment capacities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;For quantitative information about the risk related to the developer and Real-Estate sector in Spain see Appendix IX.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialRiskManagementExplanatory>
  <dei:EntityEmergingGrowthCompany id="ID_20" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">false</dei:EntityEmergingGrowthCompany>
  <ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory id="ID_21" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;9.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Cash, cash balances at central banks and other demands deposits&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under the heading &amp;#8220;Cash, cash balances at central banks and other demands deposits&amp;#8221; in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash, cash balances at central banks and other demand deposits (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash on hand&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,346&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,220&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,413&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash balances at central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,718&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,671&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,742&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,955&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;58,196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;42,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,039&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory>
  <ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory id="ID_22" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;10.    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Financial assets and liabilities held for trading&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;10.1   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Breakdown of the balance&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under these headings in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:486pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:486pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial Assets and Liabilities Held-for-Trading (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30,536&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,955&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,577&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,166&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,750&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,675&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total  Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;90,117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;64,695&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;74,950&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43,118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Short positions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,025&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,013&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,556&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,934&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total  Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;80,774&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;46,182&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;54,675&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#8220;Short positions&amp;#8221; include &amp;#8364;10,255 million &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;held with General governments.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;10.2   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Debt securities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown by type of issuer of the balance under this heading in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial Assets Held-for-Trading. Debt securities by issuer (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Issued by Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;544&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Issued by public administrations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,950&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,621&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Issued by financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;816&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,652&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;836&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,349&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;25,577&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;22,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;27,166&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;10.3   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Loans and advances&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial Assets Held-for-Trading. Loans and advances (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Reverse repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,566&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Reverse repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;13,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Reverse repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;11,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,750&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;10.4   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Equity instruments&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:19.15pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial Assets Held-for-Trading. Equity instruments by Issuer (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Shares of Spanish companies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;576&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;781&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other sectors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;536&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;603&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;956&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,220&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,737&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Shares of foreign companies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;304&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;345&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;220&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other sectors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,838&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,236&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,718&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,939&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,675&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;10.5   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Deposits&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial Liabilities Held-for-Trading. Deposits (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from central banks (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;10,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Repurchase agreement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;10,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from credit institutions (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;15,687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Repurchase agreement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;14,839&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from customers (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;11,736&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Repurchase agreement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;11,466&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;37,934&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;10.6   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Derivatives&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The derivati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ves portfolio arises from the Group&amp;#8217;s need to manage the risks it is exposed to in the normal course of business and also to market products amongst the Group&amp;#8217;s customers. As of December 31, 2018, 2017 and 2016, trading derivatives were mainly contracted i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n over-the-counter (OTC) markets, with counterparties, consisting primarily of foreign credit institutions, and are related to foreign-exchange, interest-rate and equity risk. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Below is a breakdown of the net positions by transaction type of the fair value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and notional amounts of derivatives recognized in the accompanying consolidated balance sheets, divided into organized and OTC markets:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives by type of risk / by product or by type of market -  December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notional amount - Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;19,147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;18,769&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;2,929,371&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,940&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,413&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;207,107&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,206&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,356&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,702,909&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,092&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,263&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;2,799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;2,956&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;114,184&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;341&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32,906&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;230&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,693&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,168&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;72,062&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,524&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;8,355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;9,693&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;432,283&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;226&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,293&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,329&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;405,659&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,286&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;232&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;25,452&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit default swap&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;228&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,791&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit spread option&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Total return swap&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,161&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;DERIVATIVES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;30,536&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;31,815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;3,501,358&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: OTC - credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;16,979&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;18,729&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;897,384&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: OTC - other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;7,372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;7,758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;2,355,784&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: OTC - other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;4,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;2,780&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;148,917&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives by type of risk / by product or by type of market -  December 2017 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notional amount - Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;22,606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;22,546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;2,152,490&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,429&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;212,554&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,965&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,916,920&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;600&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,416&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;1,778&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;2,336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;95,573&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;495&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,140&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,158&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,200&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48,644&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,631&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;10,371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;10,729&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;380,404&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;245&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,447&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,092&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,430&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;348,857&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;104&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,997&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;489&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;517&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;30,181&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit default swap&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;507&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,942&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit spread option&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;200&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Total return swap&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,039&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;561&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;DERIVATIVES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;35,265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;36,169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;2,659,246&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: OTC - credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;21,016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;22,804&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;898,209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: OTC - other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;8,695&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;9,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,548,919&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: OTC - other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;4,316&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,986&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;128,722&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives by type of risk / by product or by type of market -  December 2016 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notional amount - Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;25,770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;25,322&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;1,556,150&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,331&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,428&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;217,958&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,792&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,296,183&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,311&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,698&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;2,032&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;2,252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;90,655&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;718&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,224&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44,837&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,312&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,205&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;937&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,795&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,712&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;14,872&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;15,179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;425,506&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;417&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;539&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,583&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,436&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;392,240&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Organized market other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,508&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;338&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;19,399&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit default swap&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;246&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;230&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,788&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit spread option&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;150&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Total return swap&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,895&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,565&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;169&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;1,065&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;DERIVATIVES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;42,955&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;43,118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;2,092,945&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: OTC - credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;26,438&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;28,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;806,096&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: OTC - other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;8,786&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;9,362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,023,174&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: OTC - other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;6,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;4,694&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:right;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;175,473&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory>
  <bbva:Disclosureofnontradingfinancialassetsmndatoryatfairvaluethroughprofitorlossexplanatory id="ID_23" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;11. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:22.5pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:381.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:381.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#FFFFFF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#FFFFFF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:381.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:381.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,095&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:381.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:381.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:381.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:381.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,803&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:381.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;background-color:#004481;border-color:Black;min-width:381.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,135&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This heading is included with the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;implementation of IFRS 9 on January 1, 2018. Previously, this category did not exist in IAS 39 (see Note 2.2.1 and 2.3).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofnontradingfinancialassetsmndatoryatfairvaluethroughprofitorlossexplanatory>
  <ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory id="ID_24" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;12.  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Financial assets and liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under these headings in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.4pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets and liabilities designated at fair value through profit or loss (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,888&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,920&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Unit-linked products&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,621&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,749&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;266&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;171&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;174&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,062&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;976&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,858&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,338&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Unit-linked products&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,338&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,993&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,338&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With the implementation of IFRS 9 on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;January 1, 2018, equity instruments under this heading have been reclassified to the heading: &amp;#8220;Non-trading financial assets mandatorily at fair value through profit or loss&amp;#8221; (see Note 11).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, the most significant &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;balances within financial liabilities designated at fair value through profit or loss related to assets and liabilities linked to insurance products where the policyholder bears the risk (&amp;quot;Unit-Link&amp;quot;). This type of product is sold only in Spain, through BB&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;VA Seguros S.A., insurance and reinsurance and in Mexico through Seguros Bancomer S.A. de CV.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Since the liabilities linked to insurance products in which the policyholder assumes the risk are valued the same way as the assets associated to these insurance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;products, there is no credit risk component borne by the Group in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; relation to these liabilities.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory>
  <bbva:Amortizationrate id="ID_25" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Depreciation Rates for Tangible Assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:432.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Type of Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Annual Percentage&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Buildings for own use&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1% - 4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Furniture&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8% - 10%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fixtures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6% - 12%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Office supplies and hardware&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8% - 25%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Amortizationrate>
  <bbva:Gpiargentina id="ID_26" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;text-decoration:underline;color:#000000;' &gt;General Price Index &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;184&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Average GPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Inflation of the period&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Gpiargentina>
  <bbva:Disclosureoffinancialassetsatamortisedcost id="ID_27" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;14. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;14.1  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Balance details&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to the nature of the financial instrument, is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at amortized cost (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December      &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;32,530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;24,093&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;28,905&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;7,300&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;8,894&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;9,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;26,261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;31,373&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;374,027&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;387,621&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;414,500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,645&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,173&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;163,922&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;164,510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;172,522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;173,293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;419,660&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;445,275&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;483,672&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;During financial year 2018, there have been no significant reclassifications neither from &amp;#8220;Financial assets at amortized cost&amp;#8221; to other headings or from other headings to &amp;#8220;Financial assets at amortized cost&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;14.2  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Loans&lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt; and advances to central banks and credit institutions&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to their nature, is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances to Central Banks and Credit Institutions (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,300&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,894&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,373&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Reverse repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,861&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,561&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,685&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,812&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total  &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,104&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;33,561&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;7.3.5 / 7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(36)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(43)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;14.3  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to their nature, is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances to Customers (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;On demand and short notice&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,560&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,251&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit card debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,445&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,835&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,596&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trade receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,436&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,753&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Finance leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,650&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,442&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reverse repurchase loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,291&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other term loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;324,767&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;313,336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;339,862&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,306&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;374,027&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;387,621&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;414,500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Impaired assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;7.3.5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;16,349&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;19,390&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;22,915&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;7.3.5 / 7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(12,199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(12,748)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(15,974)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, 38%, 38% and 34%, respectively, of &amp;quot;Loans and advances to customers&amp;quot; with maturity greater than one year have fixed-interest rates and 62%, 62% and 66%, respectively, have variable interest rates.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The heading &amp;#8220;Financ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ial assets at amortized cost &amp;#8211; Loans and advances to customers&amp;#8221; in the accompanying consolidated balance sheets also includes certain secured loans that, as pursuant to the Mortgage Market Act, are linked to long-term mortgage-covered bonds. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This heading &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;also includes some loans that have been securitized. The balances recognized in the accompanying consolidated balance sheets corresponding to these securitized loans are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17.1pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securitized Loans (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securitized mortgage assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,556&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,950&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29,512&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other securitized assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,731&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;29,777&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;33,093&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;33,243&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;14.4  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Debt securities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balanc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e under this heading in the accompanying consolidated balance sheets, according to the issuer of the debt securities, is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.6pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:#000000;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,030&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,736&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,688&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other sectors &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,872&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,911&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,481&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total gross&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;32,530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;24,093&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,905&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, the credit ratings of the issuers of debt securities &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;classified as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.15pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:481.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:481.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at amortized cost. Debt Securities by Rating&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.9pt;' &gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:46.9pt;' &gt;&lt;td style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AAA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,969&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,894&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42.7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,472&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,412&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,694&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,818&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20.5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB+ or below&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,696&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Without rating&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,064&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,270&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;32,530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;100.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,754&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;100.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17,696&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;100.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In 2016, according to the applicable accounting policy, some debt securities were reclassified between existing accounts from such policy (from &amp;#8220;Available for sale financial assets&amp;#8221; to &amp;#8220;Loans and receivables&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &amp;#8220;Held-to-maturity investments&amp;#8221; of the consolidated balance sheet. As mentioned in Note 1.3, on January 1, 2018, IFRS 9 became effective, therefore, the debt securities previously reclassified are recorded under &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#8220;Financial assets at amortized cost&amp;#8221; in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the consolidated balance sheet as of December 31, 2018. The following table shows the fair value and carrying amounts of these reclassified financial assets:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.9pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt Securities reclassified (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:102pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;As of Reclassification date&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:102pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;As of December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:102pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;As of December 31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:102pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;As of December 31, 2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,467&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,486&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,236&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,433&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,498&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;TURKIYE GARANTI BANKASI, A.S&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,859&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,230&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,154&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,678&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,663&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,581&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, the amount recognized in the inco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;me statement from the valuation at amortized cost of the reclassified financial assets, as well as the impact recognized on the income statement and under the heading &amp;#8220;Total Equity - Accumulated other comprehensive income&amp;#8221;, if the reclassification was not &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;performed is included in the following table.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.45pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:480pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effect on Income Statement and Other Comprehensive Income (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Recognized in&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Effect of not Reclassifying in&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Recognized in&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Effect of not Reclassifying in&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Recognized in&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Effect of not Reclassifying in&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:39pt;' &gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Income Statement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Income Statement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Equity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&amp;quot;Accumulated other comprehensive income&amp;quot;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Income Statement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Income Statement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Equity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&amp;quot;Accumulated other comprehensive income&amp;quot;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Income Statement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Income Statement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Equity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&amp;quot;Accumulated other comprehensive income&amp;quot;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;BBVA, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;TURKIYE GARANTI BANKASI, A.S&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;414 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;414 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(172)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(225)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(173)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;743&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;743&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(30)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(316)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoffinancialassetsatamortisedcost>
  <ifrs-full:DisclosureOfFairValueMeasurementExplanatory id="ID_28" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;8.    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Fair Value of financial instruments&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Framework and processes control&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As part of the process established in the Group for determining the fair value in order to ensure that financial assets and liabilities are properly valued, BBVA has established, at a geographic level, a structure of Risk Operational Admission and Product &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Governance Committees responsible for validating and approving new products or types of financial assets and liabilities before being contracted. Local management responsible for valuation, which are independent from the business (see Note 7) are members o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;f these committees.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These areas are required to ensure, prior to the approval stage, the existence of not only technical and human resources, but also adequate informational sources to measure the fair value of these financial assets and liabilities, in ac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;cordance with the rules established by the Group and using models that have been validated and approved by the responsible areas.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Fair value hierarchy&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The fair value of financial instrument is defined as the price that would be received to sell an asset or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; paid to transfer a liability in an orderly transaction between market participants at the measurement date. It is therefore a market-based measurement and not specific to each entity.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;All financial instruments, both assets and liabilities are initially re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;cognized at fair value, which at that point is equivalent to the transaction price, unless there is evidence to the contrary in the market. Subsequently, depending on the type of financial instrument, it may continue to be recognized at amortized cost or f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;air value through adjustments in the consolidated income statement or equity.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;When possible, the fair value is determined as the market price of a financial instrument. However, for many of the financial assets and liabilities of the Group, especially in t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he case of derivatives, there is no market price available, so its fair value is estimated on the basis of the price established in recent transactions involving similar instruments or, in the absence thereof, by using mathematical measurement models that &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;are sufficiently tried and trusted by the international financial community. The estimates of the fair value derived from the use of such models take into consideration the specific features of the asset or liability to be measured and, in particular, the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;various types of risk associated with the asset or liability. However, the limitations inherent in the measurement models and possible inaccuracies in the assumptions and parameters required by these models may mean that the estimated fair value of an asse&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t or liability does not exactly match the price for which the asset or liability could be exchanged or settled on the date of its measurement.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Additionally, for financial assets and liabilities that show significant uncertainty in inputs or model parameter&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s used for valuation, criteria is established to measure said uncertainty and activity limits are set based on these. Finally, these measurements are compared, as much as possible, against other sources such as the measurements obtained by the business tea&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ms or those obtained by other market participants.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The process for determining the fair value requires the classification of the financial assets and liabilities according to the measurement processes used as set forth below:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Level 1: Valuation using direc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;tly the quotation of the instrument, observable and readily and regularly available from independent price sources and referenced to active markets that the entity can access at the measurement date. The instruments classified within this level are fixed-i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ncome securities, equity instruments and certain derivatives. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Level 2: Valuation of financial instruments with commonly accepted techniques that use inputs obtained from observable data in markets.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Level 3: Valuation of financial instruments with valuati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;on techniques that use significant unobservable inputs in the market. As of December 31, 2018, the affected instruments at fair value accounted for approximately 0.56% of financial assets and 0.46% of the Group&amp;#8217;s financial liabilities recorded at fair valu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;e. Model selection and validation is undertaken by control areas outside the business areas.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;8.1   Fair value of financial instrument&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Below is a comparison of the carrying amount of the Group&amp;#8217;s financial instruments in the accompanying consolidated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;balance sheets and their respective fair values.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair Value and Carrying Amount (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Carrying Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;58,196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;58,196&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;90,117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;90,117&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,135&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;56,337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;56,337&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;419,660&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;419,857&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging derivatives &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,892&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial liabilities held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;80,774&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;80,774&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial liabilities designated at fair value through profit or loss &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,993&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,993&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial liabilities at amortized cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;509,185&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;510,300&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,680&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair Value and Carrying Amount (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Carrying Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Carrying Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;42,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;42,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;40,039&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;40,039&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;64,695&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;64,695&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;74,950&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;74,950&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,062&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,062&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Available-for-sale financial assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;69,476&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;69,476&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;79,221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;79,221&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Loans and receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;431,521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;438,991&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;465,977&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;468,844&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Held-to-maturity investments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13,754&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13,865&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17,696&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17,619&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,485&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,485&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,833&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial liabilities held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46,182&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46,182&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;54,675&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;54,675&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,338&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,338&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial liabilities at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;543,713&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;544,604&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;589,210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;594,190&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,347&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,347&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;2017 and 2016 are presented separately due to the implementation of IFRS 9&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Not all financial assets and liabilities are recorded at fair value, so below&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; we provide the information on financial instruments recorded at fair value and subsequently the information of those recorded at amortized cost (including their fair value), although this value is not used when accounting for these instruments.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;8.1.1 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Fair value of financial instrument recognized at fair value, according to valuation criteria&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Below are the different elements used in the valuation technique of financial instruments.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Active Market&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;BBVA considers active market as &amp;#8220;a market that allows the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;observation of bid and offer prices representative of the levels to which the market participants are willing to negotiate an asset, with sufficient frequency and volume&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;By default, BBVA would consider all internally approved &amp;#8220;Organized Markets&amp;#8221; as activ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;e markets, without considering this an unchangeable list. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Furthermore, BBVA would consider as traded in an &amp;#8220;Organized Market&amp;#8221; quotations for assets or liabilities from OTC markets when they are obtained from independent sources, observable on a daily basi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;s and fulfil certain conditions.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following table shows the financial instruments carried at fair value in the accompanying consolidated balance sheets, broken down by the measurement technique used to determine their fair value:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Fair Value of financial Instruments by Levels (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:150.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;ASSETS-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26,730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;62,983&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;404&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;28,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Debt securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,884&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;199&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Equity instruments &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,605&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26,846&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,929&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,778&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,012&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;75&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;45,824&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,190&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43,788&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;711&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,003&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;479&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,882&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;LIABILITIES-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial liabilities held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22,932&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;57,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29,945&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Trading derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,919&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,515&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;976&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,858&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;643&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,515&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Fair Value of financial Instruments by Levels  (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:150.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:150.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;ASSETS-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29,057&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;35,349&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;289&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;32,544&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;42,221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;184&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Debt securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21,107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,444&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26,720&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;418&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Equity instruments &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,688&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;80&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,570&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,262&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33,815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;41,640&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,062&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;174&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,888&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Available-for-sale financial assets &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;57,381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,082&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;544&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;62,125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15,894&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;637&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;54,850&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10,948&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;58,372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15,779&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;429&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,531&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,753&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;115&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;208&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,483&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,792&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;LIABILITIES-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial liabilities held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;34,866&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12,502&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;42,120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,183&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;34,866&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;952&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;42,120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Short positions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10,008&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,338&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:130.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;274&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;94&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The years 2017 and 2016 are presented separately due to the implementation of IFRS 9.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Financial instruments carried at fair value corresponding to the companies that belong to Banco Provincial Group in Venezuela whose balanc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e is denominated in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-style:italic;' &gt;&amp;#8220;bolivares fuertes&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; are classified under Level 3 in the above tables (see Note 2.2.20).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following table sets forth the main valuation techniques, hypothesis and inputs used in the estimation of fair value of the financial instrument&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s classified under Levels 2 and 3, based on the type of financial asset and liability and the corresponding balances as of December 31, 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8.25pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:501pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:501pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Fair Value of financial Instruments by Levels. December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:88.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Observable inputs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Unobservable inputs&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:88.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:88.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;62,983&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:88.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;28,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:88.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Debt securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;199&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Observed prices in non active markets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Non active markets prices&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:88.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Equity instruments &lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Comparable pricing (Observable price in a similar market)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Brokers quotes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Market operations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- NAVs published&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- NAV provided by the administrator of the fund&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:88.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26,846&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:49.5pt;' &gt;&lt;td style='width:88.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Interest rate products (Interest rate swaps, Call money Swaps y FRA): Discounted cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other Interest rate options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Implicit correlations between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- interest rates volatility&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:88.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Equity Options: Local Volatility, Momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Long term implicit correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Implicit dividends and long term repos&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:88.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Foreign exchange Options: Local Volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Long term implicit correlations&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:41.25pt;' &gt;&lt;td style='width:88.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Default volatility&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:88.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Commodities: Momentum adjustment and Discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:88.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;1,929&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:37.5pt;' &gt;&lt;td style='width:88.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,778&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Specific criteria for the liquidation of losses established by the EPA protocol&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- PD and LGD&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:88.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Debt securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:88.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;75&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:88.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;9,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;1,190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:88.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Debt securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Observed prices in non active markets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Non active market prices&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:88.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;479&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Comparable pricing (Observable price in a similar market)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Brokers quotes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Market operations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- NAVs published&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- NAV provided by the administrator of the fund&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:88.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2,882&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:49.5pt;' &gt;&lt;td style='width:88.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Interest rate products (Interest rate swaps, Call money Swaps y FRA): Discounted cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other Interest rate options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:88.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Equity Options: Local Volatility, Momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:88.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Foreign exchange Options: Local Volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:88.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:88.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:88.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Commodities: Momentum adjustment and Discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:114pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:114pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8.25pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:499.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:499.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Fair Value of financial Instruments by Levels. December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:89.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:113.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:113.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Observable inputs&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:113.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Unobservable inputs&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:89.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:89.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:89.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Financial liabilities held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;57,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:89.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29,945&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:89.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:49.5pt;' &gt;&lt;td style='width:89.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Interest rate products (Interest rate swaps, Call money Swaps y FRA): Discounted cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other Interest rate options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Correlation between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- interest rates volatility&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:89.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Equity Options: Local Volatility, Momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Assets correlation&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:89.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Foreign exchange Options: Local Volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Assets correlation&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:41.25pt;' &gt;&lt;td style='width:89.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Default volatility&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:89.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Commodities: Momentum adjustment and Discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:center;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:89.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Short positions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:89.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Financial liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;4,478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2,515&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:89.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2,454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:49.5pt;' &gt;&lt;td style='width:89.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Interest rate products (Interest rate swaps, Call money Swaps y FRA): Discounted cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other Interest rate options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Implicit correlations between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- interest rates volatility&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:89.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Equity Options: Local Volatility, Momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Long term implicit correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Implicit dividends and long term repos&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:89.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Foreign exchange Options: Local Volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Long term implicit correlations&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:41.25pt;' &gt;&lt;td style='width:89.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;- Default volatility&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:89.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Commodities: Momentum adjustment and Discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:113.25pt;text-align:center;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:113.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;line-height:12pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Main valuation techniques&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The main &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;techniques used for the assessment of the majority of the financial instruments classified in Level 3, and its main unobservable inputs, are described below:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The net present value (net present value method): This technique uses the future cash flows of eac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;h debt security, which are established in the different contracts, and discounted to their present value. This technique often includes many observable inputs, but may also include unobservable inputs, as described below:&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.45pt;color:#000000;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Credit Spread: This input repres&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ents the difference in yield of a debt security and the reference rate, reflecting the additional return that a market participant would require to take the credit risk of that debt security. Therefore, the credit spread of the debt security is part of the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; discount rate used to calculate the present value of the future cash flows.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:35.45pt;color:#000000;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Recovery rate: This input represents the percentage of principal and interest recovered from a debt instrument that has defaulted.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Comparable prices (similar asset prices):&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; This input represents the prices of comparable financial instruments and benchmarks used to calculate a reference yield based on relative movements from the entry price or current market levels. Further adjustments to account for differences that may exis&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;t between financial instrument being valued and the comparable financial instrument may be added. It can also be assumed that the price of the financial instrument is equivalent to the comparable instrument.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Net asset value: This input represents the total&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; value of the financial assets and liabilities of a fund and is published by the fund manager thereof.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Gaussian copula: This model is used to integrate default probabilities of credit instruments referenced to more than one underlying CDS. The joint densi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ty function used to value the instrument is constructed by using a Gaussian copula that relates the marginal densities by a normal distribution, usually extracted from the correlation matrix of events approaching default by CDS issuers.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Black 76: variant o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;f Black Scholes model, whose main application is the valuation of bond options, cap floors and swaptions where the behavior of the Forward and not the Spot itself, is directly modeled.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Black Scholes: The Black Scholes model postulates log-normal distributi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;on for the prices of securities, so that the expected return under the risk neutral measure is the risk free interest rate. Under this assumption, the price of vanilla options can be obtained analytically, so that inverting the Black- Scholes formula, the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;implied volatility for process of the price can be calculated.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Heston: This model, typically applied to equity OTC options, assumes stochastic behavior of volatility. According to which, the volatility follows a process that reverts to a long-term level an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;d is correlated with the underlying equity instrument. As opposed to local volatility models, in which the volatility evolves deterministically, the Heston model is more flexible, allowing it to be similar to that observed in the short term today.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Libor ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;rket model: This model assumes that the dynamics of the interest rate curve can be modeled based on the set of forward contracts that compose the underlying interest rate. The correlation matrix is parameterized on the assumption that the correlation betwe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;en any two forward contracts decreases at a constant rate, beta, to the extent of the difference in their respective due dates. The input &amp;#8220;Credit default volatility&amp;#8221; is a volatility input of the credit factor dynamic. The multifactorial frame of this model&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; makes it ideal for the valuation of instruments sensitive to the slope or curve, including interest rate option.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Local Volatility: In the local volatility models of the volatility, instead of being static, evolves over time according to the level of money&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ness of the underlying, capturing the existence of smiles. These models are appropriate for pricing path dependent options when use Monte Carlo simulation technique is used.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Adjustments to the valuation for risk of default&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Under IFRS 13 the credit risk val&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;uation adjustments must be considered in the classification of assets and liabilities within fair value hierarchy, because of the absence of observables data of probabilities of default used in the calculation.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The credit valuation adjustments (&amp;#8220;CVA&amp;#8221;) and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;debit valuation adjustments (&amp;#8220;DVA&amp;#8221;) are a part of derivative instrument valuations, both financial assets and liabilities, to reflect the impact in the fair value of the credit risk of the counterparty and BBVA, respectively.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These adjustments are &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;calculated by estimating Exposure At Default, Probability of Default and Loss Given Default, for all derivative products on any instrument at the legal entity level (all counterparties under a same ISDA / CMOF) in which BBVA has exposure.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As a general rule&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, the calculation of CVA is done through simulations of market and credit variables to calculate the expected positive exposure, given the Exposure at Default and multiplying the result by the Loss Given Default of the counterparty. Consequently, the DVA i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s calculated as the result of the expected negative exposure given the Exposure at Default and multiplying the result by the Loss Given Default of the counterparty. Both calculations are performed throughout the entire period of potential exposure.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;formation needed to calculate the exposure at default and the loss given default come from the credit markets (Credit Default Swaps or iTraxx Indexes), where rating is available. For those cases where the rating is not available, BBVA implements a mapping &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;process based on the sector, rating and geography to assign probabilities of both probability of default and loss given default, calibrated directly to market or with an adjustment market factor for the probability of default and the historical expected lo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ss. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amounts recognized in the consolidated balance sheet as of December 31, 2018 and 2017 related to the valuation adjustments to the credit assessment of the derivative asset as &amp;#8220;Credit Valuation Adjustments&amp;#8221; (&amp;#8220;CVA&amp;#8221;) was &amp;#8364;-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;163&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million and &amp;#8364;-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;153&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; milli&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;on respectively, and the valuation adjustments to the derivative liabilities as &amp;#8220;Debit Valuation Adjustment&amp;#8221; (DVA) was &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;214&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;138&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million respectively . The impact recorded under &amp;#8220;Gains or (-) losses on financial assets and liabilities held for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;trading, net&amp;#8221; in the consolidated income statement as for the years ended 2018 and 2017 corresponding to the mentioned adjustments was a net impact of &amp;#8364;-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;24&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million and &amp;#8364;-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;23&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million respectively. Additionally, as of December 31, 2018, &amp;#8364;-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;12&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million related t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;o the &amp;#8220;Funding Valuation Adjustments&amp;#8221; (&amp;#8220;FVA&amp;#8221;) were recognized in the consolidated balance sheet. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Unobservable inputs&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Quantitative information of unobservable inputs used to calculate Level 3 valuations is presented below as of December 31, 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Financial instrument&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Significant unobservable inputs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Units&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:3.75pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td colspan='1' rowspan='3' style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Net Present  Value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit Spread&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152.22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;385.00&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;b.p.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Recovery Rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32.06%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Comparable pricing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#DDD9C4;border-color:#000000;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;275.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Net  Asset Value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#DDD9C4;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='2' style='width:204pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#DDD9C4;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Comparable pricing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#DDD9C4;border-color:#000000;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:top;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit Option&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gaussian Copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Correlation Default&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37.98%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60.26%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td colspan='1' rowspan='3' style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity OTC Option&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Heston&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Forward Volatility Skew&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47.05&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47.05&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47.05&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Vegas&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Local Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividends&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:204pt;text-align:right;vertical-align:middle;background-color:#DDD9C4;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.79&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27.24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;65.02&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;vegas&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;FX OTC Options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Black Scholes/Local Vol&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.05&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;vegas&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td colspan='1' rowspan='3' style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest Rate Option&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Libor Market Model&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Beta&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.00&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.00&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:93pt;text-align:left;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Correlation Rate/Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;background-color:#DDD9C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit Default Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Vegas&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Financial assets and liabilities classified as Level 3&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The changes in the balance of Level 3 financial assets and liabilities included in the accompanying consolidated balance sheets during 2018, 2017 and 2016, are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial Assets Level 3: Changes in the Period (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;835&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;822&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;463&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;182&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Changes in fair value recognized in profit and loss (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(167)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(95)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(86)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Changes in fair value not recognized in profit and loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(81)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Acquisitions, disposals and liquidations (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,710&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;438&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Net transfers to Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;761&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange differences and others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(55)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(250)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,527&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,787&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;835&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;822&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  Profit or loss that is attributable to gains or losses relating to those financial assets and liabilities held as of December 31, 2018, 2017 and 2016. Valuation adjustments are recorded under the heading &amp;#8220;Gains (losses) on financial assets and liabili&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ties, net&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(**) Of which, in 2018, the assets roll forward is comprised of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2,400&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million of acquisitions, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;254&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; millions of disposals and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;44&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; millions of liquidations. The liabilities roll forward is comprised of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2,716&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million of acquisitions and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;5&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; mill&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ions of liquidations.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, the profit/loss on sales of financial instruments classified as Level 3 recognized in the accompanying consolidated income statement was not material.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Transfers between levels&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Global Valuation Area, in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;collaboration with BBVA Group, has established the rules for a proper financials instruments held for trading classification according to the fair value hierarchy defined by international accounting standards.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On a monthly basis, any new assets added to th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e portfolio are classified, according to this criterion, by the accounting subsidiary. Then, there is a quarterly review of the portfolio in order to analyze the need for a change in classification of any of these assets.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The financial instruments transfer&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;red between the different levels of measurement for the year ended December 31, 2018 are recorded at the following amounts in the accompanying consolidated balance sheets as of December 31, 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfer Between Levels. December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;From:&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;To:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 1 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;515&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;75&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;LIABILITIES-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial liabilities held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amount of financial instrume&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nts that were transferred between levels of valuation for the year ended December 31, 2018 is not material relative to the total portfolios, and corresponds to the above changes in the classification between levels these financial instruments modified some&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of their features, specifically:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Transfers between Levels 1 and 2 represent mainly debt and equity instruments, which are either no longer listed on an active market (transfer from Level 1 to 2) or have just started to be listed (transfer from Level 2 to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;1).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Transfers from Level 2 to Level 3 are mainly due to derivative transactions.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Transfers from Level 3 to Level 2 generally affect derivative and debt instruments transactions, for which inputs observable in the market have been obtained&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Sensitivity Ana&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt;lysis&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Sensitivity analysis is performed on financial instruments with significant unobservable inputs (financial instruments included in level 3), in order to obtain a reasonable range of possible alternative valuations. This analysis is carried out on a m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;onthly basis, based on the criteria defined by the Global Valuation Area taking into account the nature of the methods used for the assessment and the reliability and availability of inputs and proxies used. In order to establish, with a sufficient degree &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of certainty, the valuating risk that is incurred in such assets without applying diversification criteria between them.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, the effect on profit for the period and total equity of changing the main unobservable inputs used for the mea&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;surement of Level 3 financial instruments for other reasonably possible unobservable inputs, taking the highest (most favorable input) or lowest (least favorable input) value of the range deemed probable, would be as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial Assets Level 3: Sensitivity Analysis (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:35.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Potential Impact on Consolidated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt; Income Statement &lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Potential Impact on&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt; Total Equity &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Most Favorable Hypothesis&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Least Favorable Hypothesis&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Most Favorable Hypothesis&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Least Favorable Hypothesis&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;291&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(181)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loans and Advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(161)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;297&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(194)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;8.2   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Fair value of financial instruments carried at cost&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The valuation technique used to calculate the fair value of financial assets and liabilities carried at cost as of December 31, 2018, are presented below:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Financial assets&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Cash, balances at &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;central banks and other demand deposits / loans to central banks / short-term loans to credit institutions / Repurchase agreements: in general, their fair value is assimilated to their book value, due to the nature of the counterparty and because they are &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;mainly short-term balances in which the book value is the most reasonable estimation of the value of the asset.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Loans to credit institutions which are not short-term and loans to customers: In general, the fair value of these financial assets is determined&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; by the discount of expected future cash flows, using market interest rates at the time of valuation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;adjusted by the credit spread and taking all kind of behavior hypothesis if it is considered to be relevant (prepayment fees, optionality, etc.).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Debt secu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;rities: Fair value estimated based on the available market price or by using internal valuation methodologies.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Financial liabilities&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Deposits from central banks: for recurrent liquidity auctions and other monetary policy instruments of central banks, / sho&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;rt-term deposits from credit institutions / repurchase agreements / short-term customer deposits:  their book value is considered to be the best estimation of their fair value.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Deposits of credit institutions which are not short-term and term customer depo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;sits: these deposits will be valued by discounting future cash flows using the interest rate curve in effect at the time of the adjustment adjusted by the credit spread and incorporating any behavioral assumptions if this proves relevant (early repayments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;, optionalities, etc.).&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Debt certificate (Issuances): The fair value estimation of these liabilities depend on the availability of market prices or by using the present value method: discount of future cash flows, using market interest rates at valuation t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ime and taking into account the credit spread.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following table presents the fair value of key financial instruments carried at amortized cost in the accompanying consolidated balance sheets as of December 31, 2018, 2017 and 2016, broken down according &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;to the method of valuation used for the estimation:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:497.25pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:497.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Fair Value of financial Instruments at amortized cost by Levels (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:139.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:139.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;June 2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:139.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:139.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:171.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;58,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;41,969&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;711&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21,419&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;204,619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;193,819&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,475&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;429,517&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:171.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Held-to-maturity investments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13,708&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Financial liabilities at amortized cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;58,225&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;269,128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;182,948&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:46.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;562,230&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The main valuation techniques and inputs used to estimate the fair value of financial instruments accounted for at cost and classified in levels 2 and 3 is shown below. These are &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;broken down by type of financial instrument and the balances correspond to those as of December 31, 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:481.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:481.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fair Value of financial Instruments at amortized cost by valuation technique. December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:120.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Main inputs used&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;ASSETS &lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:120.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;204,619&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;193,819&lt;/font&gt;&lt;/td&gt;&lt;td style='width:120.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:31.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:120.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:31.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,934&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,291&lt;/font&gt;&lt;/td&gt;&lt;td style='width:120.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:31.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;190,666&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;183,645&lt;/font&gt;&lt;/td&gt;&lt;td style='width:120.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,881&lt;/font&gt;&lt;/td&gt;&lt;td style='width:120.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:120.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Financial liabilities at amortized cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;269,128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;182,948&lt;/font&gt;&lt;/td&gt;&lt;td style='width:120.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:120.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,281&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,852&lt;/font&gt;&lt;/td&gt;&lt;td style='width:120.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;240,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;135,270&lt;/font&gt;&lt;/td&gt;&lt;td style='width:120.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,104&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,096&lt;/font&gt;&lt;/td&gt;&lt;td style='width:120.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:120.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:120.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Equity instruments at cost&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Until 2017, there were equity instruments and discretionary profit-sharing arrangements in some &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;entities which were recognized at cost in the Group&amp;#8217;s consolidated balance sheets because their fair value could not be estimated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; a sufficiently reliable manner for the amount of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;469&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;565&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, as of December 31, 2017 and 2016, respectively.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFairValueMeasurementExplanatory>
  <bbva:Disclosureofavailableforsalefinancialassetsthroughtothertcomprehensiveincomeexplanatory id="ID_29" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;13. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;  Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;13.1  Balance details&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance by the main financial instruments in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets designated at fair value through other comprehensive income (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53,737&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66,273&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74,739&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(159)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;66,251&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;74,580&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,814&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,264)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(174)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,224&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,641&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;56,337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;69,476&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;79,221&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;13.2  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Debt securities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under the heading &amp;#8220;Debt securities&amp;#8221; of the accompanying consolidated financial statements, broken down by the nature of the financial instruments, is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:18.6pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F3F3F3;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets designated at fair value through other comprehensive income: Debt Securities. December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized Cost (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Book Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Domestic Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spanish Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,205&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;661&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,857&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,597&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,696&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;793&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;855&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;804&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;841&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,802&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;761&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;19,553&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Foreign Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(142)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexican Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(121)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,169&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,013&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;994&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;978&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;961&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,507&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,338&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(135)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,130&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;US Treasury and other US Government agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,258&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;States and political subdivisions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,942&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(79)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,872&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,280&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,208&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,158&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;4,164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(269)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,916&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,007&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(256)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,771&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;9,551&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;9,740&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other foreign governments and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;173&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,601&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,139&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;987&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;986&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,947&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,197&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,206&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;34,521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(758)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;34,157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(768)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,709&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  The amortized co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;st includes portfolio gains/losses linked to insurance contracts in which the policyholder assumes the risk in case of redemption.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:18.6pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F3F3F3;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Available-for-sale financial assets: Debt Securities. December 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized Cost (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Book Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Domestic Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spanish Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,765&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;791&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,539&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,951&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,066&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;891&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;24,716&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;906&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;25,605&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Foreign Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;9,755&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(142)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;9,658&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexican Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(120)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,015&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,654&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,643&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,434&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;12,479&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(198)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;12,317&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,625&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(133)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;US Treasury and other US Government agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,052&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;States and political subdivisions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(99)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,482&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,854&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(65)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,817&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,798&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(65)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,759&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;5,052&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(115)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;4,985&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,033&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(114)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,967&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;13,271&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;533&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(117)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;13,687&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other foreign governments and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,774&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;325&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,022&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,497&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(40)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,664&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,331&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;139&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,654&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,632&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,679&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;661&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(572)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,647&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;65,273&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,567&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(589)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;66,251&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  The amortized cost includes portfolio gains/losses linked to insurance contracts in which the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;policyholder assumes the risk in case of redemption.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F3F3F3;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Available-for-sale financial assets: Debt Securities. December 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized Cost (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Book Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Domestic Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spanish Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,427&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,119&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,421&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;986&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,067&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,354&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;24,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;828&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;25,540&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Foreign Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;11,525&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(343)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;11,200&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexican Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,728&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(301)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,438&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,797&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,763&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,710&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,675&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,256&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(261)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,043&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,460&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(131)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,337&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;US Treasury and other US Government agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,702&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,683&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;States and political subdivisions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(112)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,654&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,797&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,706&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,702&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,609&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;5,550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(180)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;5,443&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,055&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,961&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;495&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;482&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;448&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;436&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;17,923&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;634&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(203)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;18,354&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other foreign governments and other general government agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,882&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(98)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,156&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(105)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,197&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,657&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,659&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(54)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,311&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,115&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(49)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,227&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;49,253&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;773&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(987)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;49,040&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;73,985&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,601&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1,006)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;74,580&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  The amortized cost includes portfolio gains/losses linked to insurance contracts in which the policyholder assumes the risk in case of redemption.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The credit ratings &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of the issuers of debt securities as of December 31, 2018, 2017 and 2016, are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.6pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt Securities by Rating&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.9pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AAA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;531&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,922&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,738&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;507&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;594&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;291&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;575&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;632&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,230&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;683&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,426&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,719&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53.1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29,569&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,958&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,233&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,003&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,583&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB+ or below&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,453&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,564&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,055&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Without rating&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;445&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,071&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;100%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;66,251&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;100.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;74,580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;100.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;13.3  Equity instruments&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under the heading &amp;quot;Equity instruments&amp;quot; of the accompanying consolidated financial state&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ments as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of December 31, 2018, 2017 and 2016, are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F3F3F3;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets designated at fair value through other comprehensive income: Equity Instruments. December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized Cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Equity instruments listed&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Listed Spanish company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(210)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(210)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Listed foreign company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;121&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,262&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(222)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unlisted Spanish company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unlisted foreign companies shares &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;453&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;506&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;388&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;411&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;513&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,721&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;98&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(223)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,595&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17.1pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F3F3F3;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Available-for-sale financial assets: Equity Securities. December 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized Cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Equity instruments listed&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Listed Spanish company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,188&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,188&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Listed foreign company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;215&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;241&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;192&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,429&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Unlisted equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unlisted Spanish company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unlisted foreign companies shares &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;734&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;532&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;182&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;698&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;796&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;139&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,224&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F3F3F3;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Available-for-sale financial assets: Equity Securities. December 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized Cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Equity instruments listed&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Listed Spanish company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(944)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,763&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(944)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,763&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Listed foreign company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;793&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;289&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,066&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;763&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;981&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,483&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(960)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,829&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Unlisted equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unlisted Spanish company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;   Unlisted foreign companies shares &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;708&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;752&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;537&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;550&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;178&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;766&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;811&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(962)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,641&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;13.4  Gains/losses&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Debt securities&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The changes in the gains/losses, net of taxes, recognized in 2018 under &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the equity heading &amp;#8220;Accumulated other comprehensive income &amp;#8211; Items that may be reclassified to profit or loss - Financial assets at fair value through other comprehensive income&amp;#8221; in the accompanying consolidated balance sheets are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:24pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:#000000;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accumulated other comprehensive income-Items that may be reclassified to profit or loss - Financial assets at fair value through other comprehensive income  (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,557&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effect of changes in accounting policies (IFRS 9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(58)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Valuation gains and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(640)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Amounts transferred to income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(137)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;221&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;943&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, the debt securities impaired recognized in the heading &amp;#8220;Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#8221; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the accompanying consolidated income statement amounted to &amp;#8364;1 million. In 2017 the recovery recognized amounted &amp;#8364;4 million; meanwhile, in 2016 the impairment recognized amounted &amp;#8364;157 million (see Note 47).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Equity instruments&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The changes in the gains/losses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, net of taxes, recognized under the equity heading &amp;#8220;Accumulated other comprehensive income &amp;#8211; Items that will not be reclassified to profit or loss - Fair value changes of equity instruments measured at fair value through other comprehensive income&amp;#8221; in the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; accompanying consolidated balance sheets are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16.15pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:#000000;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accumulated other comprehensive income-Items that may be reclassified to profit or loss - Financial assets at fair value through other comprehensive income  (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;84&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effect of changes in accounting policies (IFRS 9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(40)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Valuation gains and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(174)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(155)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, there has been no impairment recognized under the heading &amp;#8220;Impairment or reversal of impairment on financial assets not measured at fair value through profit or lo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ss - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#8221; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in the accompanying consolidated income statement. In 2017 and 2016 the impairment recognized were &amp;#8364;1,131 and &amp;#8364;46 million, respectively (see Note 47).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Years 2017 and 2016&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;2017 and 2016&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; are presented separately due to the implementation of IFRS 9:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:31.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accumulated other comprehensive income-Items that may be reclassified to profit or loss - Available-for-Sale Financial Assets (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,674&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Valuation gains and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;321&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;400&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Amounts transferred to income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;356&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,181)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other reclassifications&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(62)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;947&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,629&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;84&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(682)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofavailableforsalefinancialassetsthroughtothertcomprehensiveincomeexplanatory>
  <bbva:Consolidatedbalancesheetsummarized id="ID_30" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Condensed Consolidated balance sheets (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;December 2017 IAS 39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Classification and measurement of financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Impairment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Opening balance sheet 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;42,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;42,680&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;64,695&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;91,854&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;35,265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;35,265&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,849&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22,573&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;245&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;245&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14,895&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14,895&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12,026&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,451&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,690)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;62,107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;62,115&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,761&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,761&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59,293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59,301&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;140&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Available for sale financial assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;69,476&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(69,476)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;431,521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(8,680)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,158)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;421,685&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10,339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;29,959&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,300&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(245)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,055&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26,261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(15,622)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10,661&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;387,621&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(12,435)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,177)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;374,009&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Held to maturity investments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13,754&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13,754)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging derivatives &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,485&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of the hedged items in portfolio hedges of interest rate risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Joint ventures, associates and unconsolidated subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,588&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,589&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Insurance and reinsurance assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;421&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;421&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,191&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Intangible assets &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8,464&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8,464&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Tax assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16,888&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17,296&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other assets &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,359&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:204pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Non-current assets and disposal groups held for sale &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,853&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,832&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;690,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(770)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;689,414&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;LIABILITIES AND EQUITY&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;December 2017 IAS 39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Classification and measurement of financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Impairment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Opening balance sheet 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial liabilities held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46,182&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34,601&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;80,783&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial liabilities designated at fair value through profit or loss &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,273&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,495&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial liabilities at amortized cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;543,713&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(37,595)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;506,118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Deposits from central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;37,054&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3,261)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33,793&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Deposits from credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;54,516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(19,381)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;35,135&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Customer Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;376,379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(12,690)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;363,689&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;63,915&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2,266)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;61,649&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;     Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,850&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,851&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(112)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,768&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of the hedged items in portfolio hedges of interest rate risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Liabilities under insurance and reinsurance contracts &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9,223&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Provisions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,602&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Tax liabilities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,298&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,291&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other liabilities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,550&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:204pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Liabilities included in disposal groups classified as held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17,197&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17,188&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;636,736&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;637,010&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;SHAREHOLDERS&amp;#8217; FUNDS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;53,283&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(923)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;52,432&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Capital&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Share premium&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Retained earnings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,612&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(923)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22,760&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Revaluation reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Less: Treasury shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(96)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(96)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Profit or loss attributable to owners of the parent&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,519&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Less: Interim dividends&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,043)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,043)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:204pt;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6,939)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(109)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7,036)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:204pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;MINORITY INTERESTS (NON-CONTROLLING INTEREST)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,979&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,008&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL EQUITY&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;53,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(902)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;52,404&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;TOTAL EQUITY AND TOTAL LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;690,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(770)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;689,414&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Consolidatedbalancesheetsummarized>
  <bbva:Contributiontoconsolidatedgroupassets id="ID_31" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Contribution to Consolidated Group Total Assets. Entities by Main Activities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Banks and other financial services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;647,164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;659,414&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;699,592&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Insurance and pension fund managing companies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,732&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,831&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other non-financial services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,793&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,433&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;676,689&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;690,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;731,856&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Contributiontoconsolidatedgroupassets>
  <bbva:Disclosureallocationofearningsexplanatory id="ID_32" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.15pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Allocation of Earnings (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.15pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Profit for year (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;2,316&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Distribution:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interim dividends&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;667&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Final dividend&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,067&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additional Tier 1 securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;313&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Voluntary reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;margin-left:0pt;' &gt;(*)  Net income of BBVA, S.A.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureallocationofearningsexplanatory>
  <bbva:Disclosureofhedgingderivativesandfairvaluechangesofthehedgeditemsinportfoliohedgeofinterestrateriskexplanatory id="ID_33" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;15.    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Hedging derivatives and fair value changes of the hedged items in portfolio hedges of interest rate risk&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The balance of these headings in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:27pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Derivatives &amp;#8211; Hedge accounting and fair value changes of the hedged items in portfolio hedge of interest rate risk (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,485&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,833&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of the hedged items in portfolio hedges of interest rate risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,347&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of the hedged items in portfolio hedges of interest rate risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, the main positions hedged by the Group and the derivatives designated to hedge those positions were:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Fair value hedging:&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:56.7pt;color:#000000;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Fixed-interest debt securities &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;at fair value through other comprehensive income &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;and at amortized cost: The interest rate risk of these securities is hedged using interest rate derivatives (fixed-variable swaps) and forward sales.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:56.7pt;color:#000000;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Long-term fixed-interest debt securities issued by the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Bank: the interest rate risk of these securities is hedged using interest rate derivatives (fixed-variable swaps).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:56.7pt;color:#000000;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Fixed-interest loans: The equity price risk of these instruments is hedged using interest rate derivatives (fixed-variable swaps).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:56.7pt;color:#000000;' &gt;- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Fixed-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;interest and/or embedded derivative deposit portfolio hedges: it covers the interest rate risk through fixed-variable swaps. The valuation of the borrowed deposits corresponding to the interest r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;te risk is in the heading &amp;quot;Fair value changes of the hedged items in portfolio hedges of interest rate risk&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Cash-flow hedges: Most of the hedged items are floating interest-rate loans and asset hedges linked to the inflation of the financial assets at fa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ir value through other comprehensive income portfolio. This risk is hedged using foreign-exchange, interest-rate swaps, inflation and FRA&amp;#8217;s (&amp;#8220;Forward Rate Agreement&amp;#8221;). &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Net foreign-currency investment hedges: These hedged risks are foreign-currency investm&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ents in the Group&amp;#8217;s foreign subsidiaries. This risk is hedged mainly with foreign-exchange options and forward currency sales and purchases.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Note 7 analyzes the Group&amp;#8217;s main risks that are hedged using these derivatives.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The details of the net positions by hedged risk of the fair value of the hedging derivatives recognized in the accompanying consolidated balance sheets are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:18pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging Derivatives Breakdown by type of risk and type of hedge (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.6pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;513&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;850&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,154&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;974&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;978&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;739&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,029&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;856&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;625&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;553&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;625&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;553&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;FAIR VALUE HEDGES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,575&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;912&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,766&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,577&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;244&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;533&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;358&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;242&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;533&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;186&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;358&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Organized market other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;955&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;873&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;714&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;955&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;873&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;714&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;CASH FLOW HEDGES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,435&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,247&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;476&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.8pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;HEDGE OF NET INVESTMENTS IN A FOREIGN OPERATION&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;92&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;301&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.8pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;PORTFOLIO FAIR VALUE HEDGES OF INTEREST RATE RISK&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;256&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;214&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.8pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;PORTFOLIO CASH FLOW HEDGES OF INTEREST RATE RISK&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;DERIVATIVES-HEDGE ACCOUNTING&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;2,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;2,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;2,485&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;2,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;2,833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;2,347&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;of which: OTC - credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2,534&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2,462&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;1,829&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2,527&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2,381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2,103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;of which: OTC - other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;651&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;435&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;165&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;of which: OTC - other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The cash flows forecasts for the coming years for cash flow &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hedging recognized on the accompanying consolidated balance sheet as of December 31, 2018 are:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash Flows of Hedging Instruments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 Months or Less&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;From 3 Months to 1 Year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;From 1 to 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;More than 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Receivable cash inflows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;277&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,828&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,401&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Payable cash outflows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;139&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;517&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,215&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,092&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The above cash flows will have an impact on the Group&amp;#8217;s consolidated income statements until 2058. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In 2018, 2017 and 2016, there was no&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; reclassification in the accompanying consolidated income statements of any amount corresponding to cash flow hedges that was previously recognized in equity (see Note 41). &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amount for derivatives designated as accounting hedges that did not pass the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;effectiveness test in December 31, 2018, 2017 and 2016 were not material.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofhedgingderivativesandfairvaluechangesofthehedgeditemsinportfoliohedgeofinterestrateriskexplanatory>
  <bbva:Basicanddelutedearningspershare id="ID_34" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Basic and Diluted Earnings per Share&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Numerator for basic and diluted earnings per share (millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Profit attributable to parent company&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,324&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,475&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.15pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Adjustment: Additional Tier 1 securities (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(313)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(301)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(260)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Profit adjusted (millions of euros) (A)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;5,011&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,218&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,215&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Weighted average number of shares outstanding (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,468&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Weighted average number of shares outstanding x corrective factor (3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,592&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Adjusted number of shares - Basic earning per share (C)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,592&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Adjusted number of shares - diluted earning per share  (D)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,592&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Earnings per share (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Basic earnings per share from continued operations (Euros per share)A-B/C&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Diluted earnings per share from continued operations (Euros per share)A-B/D&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Remuneration in the year related to contingent convertible securities, recognized in equity (see Note 22.4).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Weighted average number of shares outstanding (millions of euros), excluding weighted average of treasury shares during the period.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(3)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Corrective factor, due to the capital increase with pre-emptive subscription right, applied for the previous years.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;As of December 31, 2018 the weighted average number of shares outstanding was 6,668 million (6,642 and 6,468 million as of December 31&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 2017 and 2016, respectively) and the adjustment of additional Tier 1 securities amounted to &amp;#8364;313 million (&amp;#8364;301 and &amp;#8364;260 million as of December 31, 2017 and 2016, respectively).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Basicanddelutedearningspershare>
  <bbva:Disclosureofinvestmentsinsubsidiariesjointventuresandassociatesexplanatory id="ID_35" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;16. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Investments in joint ventures, associates&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;16.1  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Joint venture&lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;s and associates&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance of &amp;#8220;Investments in joint ventures and associates&amp;#8221; (see Note 2.1) in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Joint Ventures and Associates Entities. Breakdown by entities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.95pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Joint ventures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fideic F 403853 5 BBVA Bancom Ser.Zibata&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fideicomiso 1729 Invex Enajenacion de Cartera&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PSA Finance Argentina Compa&amp;#241;ia Financier&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Altura Markets, S.V., S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;RCI Colombia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other joint ventures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.95pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;173&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;256&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Associates Entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Metrovacesa Suelo y Promoci&amp;#243;n, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;508&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;697&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;208&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Testa Residencial SOCIMI, S.A.U.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;444&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Metrovacesa Promoci&amp;#243;n y Arrendamientos, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Atom Bank, PLC&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Divarian Propiedad S.A.U.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Servired&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other associates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.95pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,332&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;536&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.95pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,588&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;765&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Details of the joint ventures and associates as of December 31,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; 2018 are shown in Appendix II.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following is a summary of the changes in the in December 31, 2018, 2017 and 2016 under this heading in the accompanying consolidated balance sheets:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Joint Ventures and Associates Entities. Changes in the Year (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,588&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;765&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;879&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Acquisitions and capital increases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;868&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;456&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposals and capital reductions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(516)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers and changes of consolidation method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(351)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Share of profit and loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividends, valuation adjustments and others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(118)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,588&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;765&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The variation during the year 2018 is mainly exp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;lained by the decrease of BBVA Group stakes in Testa Residencial, S.A., Metrovacesa Suelo y Promoci&amp;#243;n, S.A. and Divarian Propiedad, S.A.U. (see Note 3 and Appendix III).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The variation during the year 2017 is mainly explained by the increase of BBVA Group &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;stakes in Testa Residencial, S.A. and Metrovacesa Suelo y Promoci&amp;#243;n, S.A. through its contribution to the capital increases carried out by both entities by contributing assets from the Bank&amp;#8217;s real estate assets (see Note 21).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;During the year 2016, two ca&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;pital increases in Metrovacesa, S.A. were made through a debt swap and a contribution of real estate assets, which 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;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 Propertie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s, SOCIMI, S.A. and Testa Residencial, SOCIMI, S.A. As result of the previous mentioned splits, the Group received equity interests in the corresponding beneficiary companies, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;6.41%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of its capital was received, having been transferred to the heading &amp;quot;Avail&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;able-for-sale&amp;#8221; of the consolidated financial assets as of December 31, 2016.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Appendix III provides notifications on acquisitions and disposals of holdings in subsidiaries, joint ventures and associates, in compliance with Article 155 of the Corporations Ac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t and Article 53 of the Securities Market Act 24/1988.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;16.2  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Other information about associates and joint ventures&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;If these entities had been consolidated rather than accounted for using the equity method, the change in each of the lines of balance sheet&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and the consolidated income statement would not be significant.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016 there was no financial support agreement or other contractual commitment to associates and joint ventures entities from the holding or the subsidiaries &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;that are not recognized in the financial statements (see Note 53.2). &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016 there was no contingent liability in connection with the investments in joint ventures and associates (see Note 53.2).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;16.3  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Impairment&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As describ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ed 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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he cost of sale. As of December 31, 2018, 2017 and 2016, there were no significant impairments recognized.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofinvestmentsinsubsidiariesjointventuresandassociatesexplanatory>
  <bbva:Totalassetsoperatingsegment id="ID_36" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Total Assets by Operating Segments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017 (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016 (2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Banking Activity in Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;335,294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;319,417&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;335,847&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non Core Real Estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,714&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,713&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82,057&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;75,775&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88,902&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96,455&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;94,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;93,318&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66,250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78,694&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;84,866&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;52,385&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74,636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;77,918&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Eurasia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,106&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal Assets by Operating Segments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;654,605&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;669,562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;713,670&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Corporate Center &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,084&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,497&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,186&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Assets BBVA Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;676,689&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;690,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;731,856&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The figures &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;corresponding to 2017 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;have been restated (see Note 1.3).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Financial information for 2016 has not been revised to reflect changes in our operating segments in 2018, including the inclusion of BBVA Bancomer&amp;#8217;s branch in Houston (which was previou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sly part of our United States operating segment) in our Mexico operating segment since 2018. If BBVA Bancomer&amp;#8217;s branch in Houston had been part of our Mexico operating segment in 2016 (rather than of our United States operating segment), total assets of th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e United States and the Mexico operating segments would have been &amp;#8364;84,726 million and &amp;#8364;97,492 million, respectively, as of December 31, 2016.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Totalassetsoperatingsegment>
  <bbva:Incomebyoperatingsegment id="ID_37" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='11' rowspan='1' style='width:483pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:BBVA Office Light;font-size:6pt;color:#000000;' &gt;Main Margins and Profits by Operating Segments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:183pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:183pt;' &gt;&lt;font style='font-family:BBVA Office Light;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:30pt;' &gt;&lt;font style='font-family:BBVA Office Light;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='9' rowspan='1' style='width:270pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:270pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Operating Segments&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;BBVA Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Non Core Real Estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Rest of Eurasia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Corporate Center&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Net interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,672&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,568&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,009&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(276)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:183pt;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23,747&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,193&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,901&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;415&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(432)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:183pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(129)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;919&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,448&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,307&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;144&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,420)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Profit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;55.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,324&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(78)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;735&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,384&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;569&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;93&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(494)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2017(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Net interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,738&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,476&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,331&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,200&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;180&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(357)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:183pt;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25,270&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,180&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,876&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,115&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:183pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,854&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(656)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;748&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2,013)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Profit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;55.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,374&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(490)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;486&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;826&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;861&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(1,848)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;2016(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Net interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,953&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,930&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;166&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(455)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:183pt;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;24,653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,416&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,706&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,766&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,054&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;491&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:183pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(743)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;612&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,678&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,906&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;203&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,084)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:183pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:183pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Profit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;55.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,475&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;905&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(595)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,980&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;771&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(794)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The figures corresponding to 2017 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;have been restated (s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ee Note 1.3).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Financial information for 2016 has not been revised to reflect changes in our operating segments in 2018, including the inclusion of BBVA Bancomer&amp;#8217;s branch in Houston (which was previously part of our United States operating segment) in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;our Mexico operating segment since 2018. If BBVA Bancomer&amp;#8217;s branch in Houston had been part of our Mexico operating segment in 2016 (rather than of our United States operating segment), profit attributable to parent company for the United States and the Me&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;xico operating segments would have been &amp;#8364;442 million and &amp;#8364;1,997 million, respectively, for the year ended December 31, 2016.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Incomebyoperatingsegment>
  <bbva:Disclosureoftangibleassetsexplanatory id="ID_38" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;17.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Tangible assets&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown and movement of the balance and changes of this heading in the accompanying consolidated balance sheets, according to the nature of the related items, is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.4pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:480pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tangible Assets: Breakdown by Type of Assets and Changes in the year 2018. (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:123.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:123.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;For Own Use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total tangible asset of Own Use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Investment Properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Assets Leased out under an Operating Lease&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:150pt;text-align:center;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Land and Buildings&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Work in Progress&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Furniture, Fixtures and Vehicles&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,352&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;228&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,072&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;445&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;938&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(98)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(492)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(607)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(757)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(177)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(125)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(214)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(224)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(105)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(213)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,314&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;201&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,910&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Accrued depreciation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,076&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,380&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,546&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;469&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;594&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(36)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(403)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(439)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(447)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of entities in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(55)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(212)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(200)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(198)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,350&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,437&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(80)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;217&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;217&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;244&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Net tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,099&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;6,581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;415&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;7,191&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,584&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;6,756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;310&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;7,229&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:480pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tangible Assets. Breakdown by Type of Assets and Changes in the year 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:123.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:123.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;For Own Use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total tangible asset of Own Use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Investment Properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Assets Leased out under an Operating Lease&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:150pt;text-align:center;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Land and Buildings&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Work in Progress&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Furniture, Fixtures and Vehicles&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24pt;' &gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,473&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;958&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,594&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;397&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;574&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;201&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;776&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(264)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(335)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(90)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(93)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(518)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of entities in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(552)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(552)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(273)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(186)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(516)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(698)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,214)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(420)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(378)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(844)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(148)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,014)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,352&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;228&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,072&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Accrued depreciation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,461&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,577&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,856&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;553&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;693&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(235)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(261)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(289)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of entities in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(134)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(134)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(146)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(230)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(88)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(253)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(341)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(350)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,076&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,380&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,546&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;798&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of entities in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(58)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(58)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(276)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(334)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(140)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Net tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;7,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;732&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;8,941&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,099&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;6,581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;415&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;7,191&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:480pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tangible Assets. Breakdown by Type of Assets and Changes in the year 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:123.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:123.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;For Own Use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total tangible asset of Own Use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Investment Properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Assets Leased out under an Operating Lease&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:150pt;text-align:center;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Land and Buildings&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Work in Progress&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Furniture, Fixtures and Vehicles&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24pt;' &gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,858&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;14,029&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17,088&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;563&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;913&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,312&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(85)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(468)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(582)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(117)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(97)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(796)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of entities in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;676&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(544)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(386)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(254)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(986)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;84&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,156)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(296)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(52)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(277)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(625)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(184)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(843)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,473&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;958&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,594&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Accrued depreciation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,551&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,654&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,972&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;561&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;690&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(72)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(461)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(533)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(560)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(37)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(55)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(153)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(173)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(208)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,461&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,577&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,856&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;808&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,172&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(380)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(381)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(125)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;798&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Net tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,401&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;3,077&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;8,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;1,467&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;9,944&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;7,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;732&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;8,941&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, the cost&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of fully amortized tangible assets that remained in use were &amp;#8364;2,624, &amp;#8364;2,660 and &amp;#8364;2,313 million respectively while its recoverable residual value was not significant.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the amount of tangible assets under financial lease schemes on which the purchase option is expected to be exercised was not material. The main activity of the Group is carried out through a network of bank branches located geographically as shown in the f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ollowing table:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Branches by Geographical Location (Number of branches)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,303&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,836&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,836&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.15pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,543&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,667&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.15pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;646&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;651&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;676&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.15pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,095&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,131&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.15pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Eurasia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,271&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,660&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following table shows the detail of the net carrying amount of the tangible assets corresponding to Spanish and foreign subsidiaries as of December 31, 2018, 2017 and 2016:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tangible Assets by Spanish and Foreign Subsidiaries. Net Assets Values (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA and Spanish subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,574&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,692&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreign subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,524&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,249&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,941&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoftangibleassetsexplanatory>
  <bbva:Tableofcashandcashequivalentsexplanatory id="ID_39" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash, cash balances at central banks and other demand deposits (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash on hand&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,346&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,220&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,413&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash balances at central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,718&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,671&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,742&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,955&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;58,196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;42,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,039&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofcashandcashequivalentsexplanatory>
  <bbva:Financialassetsheldfortradingdebtsecuritiesbyissuer id="ID_40" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial Assets Held-for-Trading. Debt securities by issuer (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Issued by Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;544&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Issued by public administrations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,950&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,621&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Issued by financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;816&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,652&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;836&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,349&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;25,577&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;22,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;27,166&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialassetsheldfortradingdebtsecuritiesbyissuer>
  <ifrs-full:DisclosureOfIntangibleAssetsExplanatory id="ID_41" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;18. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;  Intangible assets&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;18.1  Goodwill&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to the cash-generating units (CGUs), is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:486.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:486.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Goodwill. Breakdown by CGU and Changes of the year (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:38.1pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Colombia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Chile&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance as of December 31, 2015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;727&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;602&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,915&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(79)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance as of December 31, 2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,503&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,937&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(666)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(115)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(44)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(851)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(43)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance as of December 31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,837&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;509&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;168&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,062&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(127)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance as of December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;382&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,180&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In 2018, 2017 and 2016, there were no significant business combinations.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Impairment Test&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As mentioned in Note 2.2.8 of the consolidated financial statements for the year 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, the cash-generating units (CGUs) to which goodwill has bee&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n allocated are periodically tested for impairment by including the allocated goodwill in their carrying amount. This analysis is performed at least annually and whenever there is any indication of impairment. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Both the CGU&amp;#8217;s fair values and the fair value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s assigned to its assets and liabilities had been based on the estimates and assumptions that the Group&amp;#8217;s Management has deemed most likely given the circumstances. However, some changes to the valuation assumptions used could result in differences in the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;impairment test result.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Three key assumptions are used when calculating the impairment test. These hypothesis are the ones to which the amount of the recoverable value is most sensitive: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The forecast cash flows estimated by the Group&amp;#39;s management, and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;based on the latest available budgets for the next 5 years.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The constant sustainable growth rate for extrapolating cash flows, starting in the fifth year (2023), beyond the period covered by the budgets or forecasts.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The discount rate on future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;, which coincides with the cost of capital assigned to each CGU, and which consists of a risk-free rate plus a premium that reflects the inherent risk of each of the businesses evaluated.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The focus used by the Group&amp;#39;s management to determine the values of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the hypotheses is based both on its projections and past experience. These values are uniform and use external sources of information. At the same time, the valuations of the most significant goodwill have in general been reviewed by independent experts (n&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ot the Group&amp;#39;s external auditors) who apply different valuation methods according to each type of asset and liability. The valuation methods used are: The method for calculating the discounted value of future cash flows, the market transaction method and t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he cost method.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;line-height:13.8pt;' &gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, no indicators of impairment have been identified in any of the main CGUs.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Goodwill - United States CGU&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group&amp;#8217;s most significant&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;goodwill corresponds to the CGU in the United States, the main sig&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nificant hypotheses used in the impairment test of this mentioned CGU are:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment test hypotheses CGU Goodwill in the United States &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sustainable growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Given the potential growth of the sector, in accordance with paragraph 33 of IAS 36, as of December 31, 2018, 2017 and 2016 the Group used a steady &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;growth rate of 4.0% based on the real GDP growth rate of the United States and expected inflation. This 4.0% rate is less than the historical average of the past 30 years of the nominal GDP rate of the United States and lower than the real GDP growth forec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;asted by the IMF.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The assumptions with a greater relative weight and whose volatility could affect more in determining the present value of the cash flows starting on the fifth year are the discount rate and the sustainable growth rate. Below is shown the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;increased (or decreased) amount of the recoverable amount as a result of a reasonable variation (in basis points) of each of the key assumptions:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:14.25pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:481.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:481.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sensitivity analysis for main hypotheses - USA (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impact of an increase of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impact of a decrease of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,009)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,176&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sustainable growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(451)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  Based on historical changes, the use of 50 basis points to calculate the se&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nsitivity analysis would be a reasonable variation with respect to the observed variations over the last five years.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Another assumption used, and with a high impact on the impairment test, is the budgets of the CGU and specifically the effect that changes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; in interest rates have on cash flows.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Goodwill - Turkey CGU&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group&amp;#8217;s most significant goodwill corresponds to the CGU in the Turkey, the main significant hypotheses used in the impairment test of this mentioned CGU are:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment test assumptions CGU Goodwill in Turkey&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.45pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.45pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sustainable growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Given the potential growth of the sector, in accordance with paragraph 33 of IAS 36, as of December 31, 2018, 2017 and 2016 the Group used a steady growth rate of 7.0% based on the real GDP growth rate of Turkey and expected inflation. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The assumptions wit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;h a greater relative weight and whose volatility could affect more in determining the present value of the cash flows starting on the fifth year are the discount rate and the sustainable growth rate. Below is shown the increased (or decreased) amount of th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e recoverable amount as a result of a reasonable variation (in basis points) of each of the key assumptions:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.9pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sensitivity analysis for main assumptions - Turkey (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.45pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impact of an increase of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impact of a decrease of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sustainable growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(37)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  Based on historical changes, the use of 50 basis points to calculate the sensitivity analysis would be a reasonable v&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ariation with respect to the observed variations over the last five years.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Goodwill in business combinations&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;There were no significant business combinations during 2018, 2017 and 2016.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;18.2  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Other intangible assets&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance and changes of this heading in the accompanying consolidated balance sheets, according to the nature of the related items, is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other intangible assets (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Computer software acquisition expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,605&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,877&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other intangible assets with an infinite useful life&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other intangible assets with a definite useful life&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;708&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;960&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,402&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,849&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The changes of this heading in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;December 31, 2018, 2017 and 2016, are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other Intangible Assets (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,402&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,849&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,137&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;564&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;645&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Amortization in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(614)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(694)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(735)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange differences and other &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(305)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(196)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(83)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,402&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,849&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017and 2016, the cost of fully amortized intangible assets that remained in use were &amp;#8364;1,604 million, &amp;#8364;1,380 million and &amp;#8364;1,501 million respectively, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;while their recoverable value was not significant.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfIntangibleAssetsExplanatory>
  <bbva:Financialassetsheldfortradingequityinstrumentsbyissuer id="ID_42" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:19.15pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial Assets Held-for-Trading. Equity instruments by Issuer (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Shares of Spanish companies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;576&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;781&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other sectors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;536&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;603&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;956&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,220&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,737&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Shares of foreign companies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;304&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;345&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;220&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other sectors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,838&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,236&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,718&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,939&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,675&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialassetsheldfortradingequityinstrumentsbyissuer>
  <bbva:Financialliabilitiesheldfortradingdeposits id="ID_43" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial Liabilities Held-for-Trading. Deposits (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from central banks (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;10,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Repurchase agreement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;10,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from credit institutions (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;15,687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Repurchase agreement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;14,839&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from customers (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;11,736&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Repurchase agreement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;11,466&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;37,934&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialliabilitiesheldfortradingdeposits>
  <bbva:Financialassetsheldfortradingloansandadvances id="ID_44" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial Assets Held-for-Trading. Loans and advances (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Reverse repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,566&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Reverse repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;13,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Reverse repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;11,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,750&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialassetsheldfortradingloansandadvances>
  <bbva:Tableofnontradingfinancialassetsmandatoryatfairvaluethroughprofitorloss id="ID_45" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:22.5pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:381.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:381.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#FFFFFF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#FFFFFF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:381.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:381.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,095&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:381.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:381.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:381.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:381.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,803&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:381.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;background-color:#004481;border-color:Black;min-width:381.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,135&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofnontradingfinancialassetsmandatoryatfairvaluethroughprofitorloss>
  <bbva:Disclosureoftaxassetsandliabiltiiesexplanatory id="ID_46" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;19. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Tax assets and liabilities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;19.1  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Consolidated tax group&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Pursuant to current legislation, the BBVA Consolidated Tax Group includes the Bank (as the parent company) and its Spanish subsidiaries that meet the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;requirements provided for under Spanish legislation regulating the taxation regime for the consolidated profit of corporate groups.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group&amp;#8217;s non-Spanish other banks and subsidiaries file tax returns in accordance with the tax legislation in force in eac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;h country.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;19.2  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Years open for review by the tax authorities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The years open to review in the BBVA Consolidated Tax Group as of December 31, 2018 are 2014 and subsequent years for the main taxes applicable.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The remainder of the Spanish consolidated entitie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s in general have the last four years open for inspection by the tax authorities for the main taxes applicable, except for those in which there has been an interruption of the limitation period due to the start of an inspection.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the year 2017 as a conse&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;quence of the tax authorities examination reviews, inspections were initiated through the year 2013 inclusive, and all such years closed with acceptance during the year 2017. Therefore, these inspections did not constitute any material amount to record in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the Consolidated Annual accounts as their impact was provisioned.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In view of the varying interpretations that can be made of some applicable tax legislation, the outcome of the tax inspections of the open years that may be conducted by the tax authorities &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in the future may give rise to contingent tax liabilities which cannot be reasonably estimated at the present time. However, the Group considers that the possibility of these contingent liabilities becoming actual liabilities is remote and, in any case, th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e tax charge which might arise therefore would not materially affect the Group&amp;#8217;s accompanying consolidated financial statements.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;19.3  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Reconciliation&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The reconciliation of the Group&amp;#8217;s corporate income tax expense resulting from the application of the Span&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ish corporation income tax rate and the income tax expense recognized in the accompanying consolidated income statements is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reconciliation of Taxation at the Spanish Corporation Tax Rate to the Tax Expense Recorded for the Period&amp;#160;  (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.9pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Effective Tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Effective Tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Effective Tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Profit or (-) loss before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;8,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;From continuing operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Taxation at Spanish corporation tax rate 30%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,534&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,918&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Lower effective tax rate from foreign entities  (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(234)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(307)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(298)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Mexico &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(78)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(105)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Chile &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Colombia &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Peru &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(132)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(182)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(176)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Revenues with lower tax rate (dividends/capital gains)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(69)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity accounted earnings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;452&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Current income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;2,295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;2,169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;1,699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Continuing operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Calculated by applying the difference between the tax rate in force in Spain and the one &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;applied to the Group&amp;#8217;s earnin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;gs in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;each jurisdiction.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The effective income tax rate for the Group in the years ended December 31, 2018, 2017 and 2016 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effective Tax Rate (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Income from:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Consolidated Tax Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,482&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(678)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(483)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other Spanish Entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreign Entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,823&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,392&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income tax and other taxes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,699&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Effective Tax Rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;27.17%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;31.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the year 2018, the changes in the nominal tax rate on corporate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; income tax, in comparison with those existing in the previous year, in the main countries in which the Group has a presence, have been in United States (federal tax from 35% to 21%), Turkey (from 20% to 22%), Argentina (f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rom 35% to 30%), Chile (from 25.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;5%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; to 27%) and Colombia (from 40% to 37%). In the year 2017, the changes in the nominal tax rate on corporate income tax, in comparison with those existing in the previous period, in the main countries in which the Group has a presence, have been in Chile (f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rom 24.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;0% to 25.5%) and Peru (f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rom 28.0% to 29.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;5%).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;19.4  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Income tax recognized in equity&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition to the income tax expense recognized in the accompanying consolidated income statements, the Group has recognized the following income tax charges for t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hese items in the consolidated total equity:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tax recognized in total equity (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Charges to total equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities and others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(87)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(355)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(533)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(74)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(143)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(429)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(535)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(143)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(429)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(535)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;19.5  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Current and deferred taxes&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The balance under the heading &amp;quot;Tax assets&amp;quot; in the accompanying consolidated balance sheets includes current and deferred tax assets. The balance under the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#8220;Tax liabilities&amp;#8221; heading includes the Group&amp;#8217;s various current and deferred tax liabilities. The details of the mentioned tax assets and liabilities are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:480pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tax assets and liabilities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Tax assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Current tax assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,853&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deferred tax assets &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,316&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,725&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,391&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Pensions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;395&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,190&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Financial Instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,401&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,453&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,371&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other assets (investments in subsidiaries)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;357&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;662&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,390&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;990&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;870&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,236&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Secured tax assets (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,433&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,431&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Tax losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,111&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,888&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,245&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Tax Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Current tax liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,230&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,276&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deferred tax liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,046&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,184&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,392&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Financial Instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,136&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,427&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,794&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Charge for income tax and other taxes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;910&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;757&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,598&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,298&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,668&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Law guaranteeing the deferred tax assets has been approved in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Spain in 2013. In years 2016 and 2017 guaranteed deferred tax assets also existed in Portugal but in year 2018 they lost the guarantee due to the merge between BBVA Portugal S.A. and BBVA, S.A.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;At the end of year 2018, a tax reform has taken place in Col&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ombia, which is expected to hold a 37% tax rate for financial institutions in 2019 (prior to the reform, a 33% tax rate was planned).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The most significant variations of the deferred assets and liabilities in the years 2018, 2017 and 2016 derived from the f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ollowings causes:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deferred tax assets and liabilities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.9pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Deferred Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Deferred Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Deferred Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Deferred Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Deferred Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Deferred Liabilities&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;14,725&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,184&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,878&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,418&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pensions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(795)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;168&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financials Instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(52)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(291)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(367)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(103)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(113)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(55)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(305)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;370&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(385)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(366)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(841)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;255&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Guaranteed Tax assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(70)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(105)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tax Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Charge for income tax and other taxes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,316&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,046&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;14,725&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,184&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,392&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:5pt;margin-bottom:5pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With respect to the changes in assets and liabilities due to deferred tax contained in the above table, the following should be pointed out:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:0pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The decrease in guaranteed tax assets is motivated because those &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;corresponding to Portugal are no longer considered as guaranteed.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:0pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The increase in tax losses is mainly due to the Corporate Income Tax (CIT) return 2017 that has generated differences with respect to the estimate of Corporate Tax reflected in the financial&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; statements, on the other hand, the increase in tax losses is also due &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;to the generation of negative tax bases and deductions during year 2018.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The evolution of the deferred tax assets and liabilities (without taking into consideration the guaranteed defer&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;red tax asset and the tax losses) in net terms is a decrease of &amp;#8364;531 million mainly due to the first implementation of IFRS9, the variations in the valuation of portfolio securities and to the operation of the corporate income tax in which differences betw&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;een accounting and taxation produce movements in the deferred taxes.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:4pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On the deferred tax assets and liabilities contained in the table above, those included in section 19.4 above have been recognized against the entity&amp;#39;s equity, and the rest against earnin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;gs for the year or reserves.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, the estimated amount of temporary differences associated with investments in subsidiaries, joint ventures and associates, which were not recognized deferred tax liabilities in the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;accompanying consolidated balance sheets, amounted to 443 million euros, 376 million euros and 874 million euros, respectively.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Of the deferred tax assets contained in the above table, the detail of the items and amounts guaranteed by the Spanish governmen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t, broken down by the items that originated those assets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Secured tax assets (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017 (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016 (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pensions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,874&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,897&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,901&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,489&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,536&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,530&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,433&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,431&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;In 2017 and 2016 guaranteed deferred tax assets also existed in Portugal but in 2018 they lost the guarantee.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, non-guaranteed net &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;deferred tax assets of the above table amounted to &amp;#8364;3,907 million (&amp;#8364;3,108 and &amp;#8364;3,568 million as of December 31, 2017 and 2016 respectively), which broken down by m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ajor geographies is as follows:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:0pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Spain: Net deferred tax assets recognized in Spain totaled &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;,653&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million as of December 31, 2018 (&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;2,052&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;2,007&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million as of December 31, 2017 and 2016, respectively). &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;1,462&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million of the figure recorded in the year ended December 31, 2018 for net deferred tax assets related to tax credits and tax loss carry&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; forwards and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;1,191&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million relate to temporary differences. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:0pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Mexico: Net deferred tax assets recognized in Mexico amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;826&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million as of December 31, 2018 (&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;615&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;698&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million as of December 31, 2017 and 2016, respectively). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;99.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;97% of deferred &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;tax assets as of December 31, 2018 relate to temporary differences&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The remainders are tax credits carry forwards&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:0pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;South America: Net deferred tax assets recognized in South America amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;383&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; thousand as of December 31, 2018 (&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;26&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;362&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; of December 31, 2017 and 2016, respectively). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Practically all the deferred tax assets are related to temporary differences&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;only 1.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;03% are related to tax credits&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:0pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The United States: Net deferred tax assets recognized in The United States amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;164&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;million as of December 31, 2018 (&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;180&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;345&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million as of December 31, 2017 and 2016, respectively). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;All the deferred tax assets relate to temporary differences&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Turkey: Net deferred tax assets recognized in Turkey amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;250&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million as of Decembe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;r 31, 2018 (&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;224&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;135&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; million as of December 31, 2017 and 2016 respectively). As of December 31, 2018, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;all the deferred tax assets correspond to &amp;#8364;15 million of tax credits related to tax losses carry forwards and deductions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;and &amp;#8364;235 million relate to t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;emporary differences&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Based on the information available as of December 31, 2018, including historical levels of benefits and projected results available to the Group for the coming years, it is considered that sufficient taxable income will be generated f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;or the recovery of above mentioned unsecured deferred tax assets when they become deductible according to the tax laws.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On the other hand, the Group has not recognized certain deductible temporary differences, negative tax bases and deductions for which, i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n general, there is no legal period for offsetting, amounting to approximately &amp;#8364; 2,236 million, which are mainly originated by Catalunya Banc.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureoftaxassetsandliabiltiiesexplanatory>
  <bbva:Tableoffinancialinstrumentsdesignatedatfairvaluethroughprofitorlossexplanatory id="ID_47" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.4pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets and liabilities designated at fair value through profit or loss (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,888&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,920&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Unit-linked products&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,621&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,749&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;266&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;171&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;174&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,062&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;976&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,858&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,338&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Unit-linked products&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,338&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,993&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,338&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoffinancialinstrumentsdesignatedatfairvaluethroughprofitorlossexplanatory>
  <bbva:Disclosureoffinancialassetsatfairvaluethroughothercomprehensiveincomeexplanatory id="ID_48" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets designated at fair value through other comprehensive income (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53,737&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66,273&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74,739&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(159)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;66,251&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;74,580&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,814&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,264)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(174)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,224&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,641&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;56,337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;69,476&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;79,221&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoffinancialassetsatfairvaluethroughothercomprehensiveincomeexplanatory>
  <bbva:Financialassetsatfairvaluethroughothercomprehensiveincomedebtsecurities id="ID_49" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:18.6pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F3F3F3;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets designated at fair value through other comprehensive income: Debt Securities. December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized Cost (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Book Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Domestic Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spanish Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,205&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;661&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,857&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,597&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,696&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;793&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;855&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;804&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;841&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,802&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;761&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;19,553&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Foreign Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(142)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexican Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(121)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,169&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,013&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;994&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;978&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;961&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,507&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,338&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(135)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,130&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;US Treasury and other US Government agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,258&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;States and political subdivisions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,942&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(79)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,872&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,280&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,208&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,158&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;4,164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(269)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,916&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,007&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(256)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,771&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;9,551&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;9,740&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other foreign governments and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;173&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,601&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,139&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;987&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;986&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,947&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,197&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,206&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;34,521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(758)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;34,157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(768)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,709&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  The amortized co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;st includes portfolio gains/losses linked to insurance contracts in which the policyholder assumes the risk in case of redemption.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:18.6pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F3F3F3;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Available-for-sale financial assets: Debt Securities. December 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized Cost (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Book Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Domestic Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spanish Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,765&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;791&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,539&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,951&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,066&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;891&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;24,716&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;906&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;25,605&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Foreign Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;9,755&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(142)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;9,658&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexican Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(120)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,015&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,654&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,643&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,434&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;12,479&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(198)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;12,317&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,625&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(133)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;US Treasury and other US Government agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,052&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;States and political subdivisions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(99)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,482&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,854&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(65)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,817&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,798&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(65)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,759&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;5,052&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(115)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;4,985&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,033&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(114)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,967&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;13,271&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;533&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(117)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;13,687&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other foreign governments and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,774&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;325&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,022&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,497&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(40)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,664&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,331&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;139&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,654&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,632&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,679&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;661&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(572)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,647&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;65,273&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,567&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(589)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;66,251&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  The amortized cost includes portfolio gains/losses linked to insurance contracts in which the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;policyholder assumes the risk in case of redemption.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F3F3F3;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Available-for-sale financial assets: Debt Securities. December 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized Cost (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Book Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Domestic Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spanish Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,427&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,119&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,421&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;986&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,067&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,354&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;24,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;828&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;25,540&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Foreign Debt Securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;11,525&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(343)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;11,200&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexican Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,728&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(301)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,438&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,797&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,763&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,710&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,675&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,256&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(261)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,043&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,460&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(131)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,337&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;US Treasury and other US Government agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,702&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,683&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;States and political subdivisions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(112)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,654&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,797&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,706&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,702&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,609&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;5,550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(180)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;5,443&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey Government and other general governments agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,055&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,961&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;495&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;482&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;448&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;436&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;17,923&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;634&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(203)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;18,354&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other foreign governments and other general government agencies debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,882&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(98)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,156&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(105)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,197&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,657&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,659&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(54)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,311&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Issued by other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,115&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(49)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,227&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;49,253&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;773&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(987)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;49,040&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;73,985&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,601&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1,006)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;74,580&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  The amortized cost includes portfolio gains/losses linked to insurance contracts in which the policyholder assumes the risk in case of redemption.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Financialassetsatfairvaluethroughothercomprehensiveincomedebtsecurities>
  <bbva:Disclosureofotherassetsandliabilitiesexplanatory id="ID_50" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;20.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Other assets and liabilities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under these headings in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other assets and liabilities: (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Inventories&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,298&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Real estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;633&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;226&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,268&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transactions in progress&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;156&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;241&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accruals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;702&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;768&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;723&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Prepaid expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;465&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;509&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;518&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other prepayments and accrued income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;259&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;204&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other items&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,886&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,012&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Other Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,472&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,274&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transactions in progress&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;165&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;127&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accruals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,558&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,721&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Accrued expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,997&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,125&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other accrued expenses and deferred income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;439&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;596&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other items&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,704&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,894&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,131&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Other Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,301&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,979&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;&amp;quot;Inventories&amp;quot; includes the net book value of land and building purchases that the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Group&amp;#8217;s Real estate entities have available for sale or as part of their business. Balances under this heading include mainly real estate assets acquired by these entities from distressed customers (mostly in Spain), net of their corresponding losses. The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;roll-forward of our inventories from distressed customers is provided below:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15.6pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Inventories from Distressed Customers (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.8pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Gross value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,318&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Acquisitions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;533&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;336&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.2pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2,288)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,214)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,653)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.2pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,499&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accumulated impairment losses &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5,385)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Carrying amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2017, the majority of the balance of real estate assets acquired from distressed customers was reclassified to the heading &amp;quot;Non-current&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; assets and disposable groups of items that have been classified as held for sale&amp;quot; (see Note 21) due to the agreement with Cerberus to transfer the Real Estate business in Spain (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The impairment included under the heading &amp;#8220;Impairment or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;reversal of impairment of non- financial assets&amp;#8221; of the accompanying consolidated financial statements were &amp;#8364;51, &amp;#8364;306 and &amp;#8364;375 million in 2018, 2017 and 2016, respectively (see Note 48).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As indicated in Note 2.2.6, &amp;#8220;Inventories&amp;#8221; are valued at the lower &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;amount between its fair value less costs to sell and its book value. As of December 31, 2018, practically all of the carrying amount of the assets recorded at fair value on a non-recurring basis coincides with their fair value.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofotherassetsandliabilitiesexplanatory>
  <bbva:Financialassetsatfairvaluethroughothercomprehensiveincomedebtsecuritiesbyrating id="ID_51" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.6pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt Securities by Rating&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.9pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AAA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;531&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,922&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,738&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;507&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;594&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;291&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;575&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;632&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,230&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;683&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,426&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,719&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53.1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29,569&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,958&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,233&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,003&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,583&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB+ or below&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,453&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,564&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,055&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Without rating&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;445&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,071&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,709&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;100%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;66,251&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;100.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;74,580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;100.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialassetsatfairvaluethroughothercomprehensiveincomedebtsecuritiesbyrating>
  <ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory id="ID_52" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;21.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Non-current assets and disposal groups held for sale&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The composition of the balance under the heading &amp;#8220;Non-current assets and disposal groups classified as held for sale&amp;#8221; in the accompanying consolidated balance sheets, broken down by the origin of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the assets, is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:23.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale Breakdown by items (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Foreclosures and recoveries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,225&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Foreclosures (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,047&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,057&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Recoveries from financial leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;168&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other assets from tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;433&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,181&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Property, plant and equipment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;378&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Operating leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;803&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Investment properties (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Business sale - Assets (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Accrued amortization (***)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(44)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(116)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Impairment losses &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(628)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,348)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,727)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total Non-current assets and disposal groups classified as held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;23,853&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,603&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Corresponds mainly to the agreement with Cerberus to transfer the &amp;quot;Real Estate&amp;quot; business in Spain (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(**)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Corresponds mainly to the BBVA&amp;#180;s stake in BBVA Chile (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(***) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Amortiza&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tion accumulated until related asset reclassified as &amp;#8220;non-current assets and disposal groups held for sale&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The changes in the balances of &amp;#8220;Non-current assets and disposal groups classified as held for sale&amp;#8221; in 2018, 2017 and 2016 are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15.6pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale Changes in the year 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Foreclosed Assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;From Own Use Assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Other assets (**)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:31.15pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Foreclosed Assets through Auction Proceeding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Recovered Assets from Finance Leases&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Cost  (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;6,047&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;25,201&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;637&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;696&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4,354)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(135)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(227)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(18,594)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(23,310)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers, other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(195)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;241&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;389&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,629&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Impairment  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,348&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;208&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(793)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(37)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(931)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;482&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;628&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end of Net carrying value (1)-(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,001&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Net of amortization accumulated until assets were reclassified as non-current assets held for sale&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(**) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The variation corresponds mainly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the BBVA&amp;#8217;s stake in BBVA Chile and the agreement with Cerberus to transfer the &amp;quot;Real Estate&amp;quot; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;business in Spain (see Note 3)&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale Changes in the year 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Foreclosed Assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;From Own Use Assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Other assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Foreclosed Assets through Auction Proceeding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Recovered Assets from Finance Leases&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Cost  (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4,057&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;168&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,065&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,330&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;791&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;837&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,037)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(49)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(131)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,217)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers, other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,236&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(564)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18,583&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20,251&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;6,047&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;25,201&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Impairment  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;443&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,727&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(272)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(321)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(208)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(216)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,348&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end of Net carrying value (1)-(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4,945&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;23,853&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Net of amortization accumulated until assets were reclassified as non-current assets held for sale&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(**) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The variation corresponds mainly&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the BBVA&amp;#8217;s stake in BBVA Chile and the agreement with &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Cerberus to transfer the &amp;quot;Real Estate&amp;quot; business in Spain (see Note 3)&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale Changes in the year 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Foreclosed Assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;From Own Use Assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Other assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(**)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Foreclosed Assets through Auction Proceeding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Recovered Assets from Finance Leases&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Cost  (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,775&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;626&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4,654&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;582&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;662&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(779)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(170)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,023)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers, other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;586&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,037&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4,057&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;168&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,065&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,330&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Impairment  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;994&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,285&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;136&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(153)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(192)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;232&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;499&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;443&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,727&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end of Net carrying value (1)-(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,820&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;621&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,603&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Net of amortization accumulated until assets were reclassified as non-current assets held for sale&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As indicated in Note 2.2.4, &amp;#8220;Non-current assets and disposal groups held for sale&amp;#8221; and &amp;#8220;liabilities included in disposal groups classified as held for sale&amp;#8221; are valued at the lower amount between its fair value less costs to sell and its book value. As of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;December 31, 2018, practically all of the carrying amount of the assets recorded at fair value on a non-recurring basis coincides with their fair value.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Assets from foreclosures or recoveries&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, assets from &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;foreclosures and recoveries, net of impairment losses, by nature of the asset, amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1,072&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1,924&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;2,326&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million in assets for residential use; &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;182&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;491&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;574&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million in assets for tertiary use (industrial, commercial or office) and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;19&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;29&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;41&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million in assets for agricultural use, respectively.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In December 31, 2018, 2017 and 2016, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the average sale time of assets from foreclosures or recoveries was between 2 and 3 years.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;During the years 2018, 2017 and 2016, some of the sale transact&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ions for these assets were financed by Group companies. The amount of loans to buyers of these assets in those years amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;82&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;207&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;219&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, respectively; with an average financing of 50% of the sales price.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;and 2016, the amount of the profits arising from the sale of Group companies financed assets - and therefore not recognized in the consolidated income statement - amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; in each financial year.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory>
  <bbva:Financialassetsatfairvaluethroughothercomprehensiveincomeequityinstruments id="ID_53" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F3F3F3;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets designated at fair value through other comprehensive income: Equity Instruments. December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized Cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Equity instruments listed&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Listed Spanish company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(210)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(210)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Listed foreign company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;121&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,262&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(222)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unlisted Spanish company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unlisted foreign companies shares &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;453&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;506&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;388&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;411&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;513&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,721&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;98&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(223)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,595&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17.1pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F3F3F3;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Available-for-sale financial assets: Equity Securities. December 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized Cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Equity instruments listed&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Listed Spanish company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,188&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,188&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Listed foreign company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;215&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;241&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;192&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,429&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Unlisted equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unlisted Spanish company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unlisted foreign companies shares &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;734&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;532&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;182&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;698&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;796&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;139&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,224&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F3F3F3;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Available-for-sale financial assets: Equity Securities. December 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Amortized Cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Equity instruments listed&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Listed Spanish company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(944)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,763&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(944)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,763&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Listed foreign company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;793&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;289&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,066&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;763&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;981&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,483&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(960)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,829&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Unlisted equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unlisted Spanish company shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;   Unlisted foreign companies shares &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;708&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;752&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;537&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;550&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;178&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;766&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;811&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(962)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,641&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialassetsatfairvaluethroughothercomprehensiveincomeequityinstruments>
  <bbva:Accumulatedothercomprehensiveincomeitemsthatmaybereclassifiedtoprofitorlossavailableforsalefinancialassets id="ID_54" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:24pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:#000000;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accumulated other comprehensive income-Items that may be reclassified to profit or loss - Financial assets at fair value through other comprehensive income  (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,557&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effect of changes in accounting policies (IFRS 9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(58)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Valuation gains and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(640)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Amounts transferred to income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(137)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;221&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;943&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16.15pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:#000000;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accumulated other comprehensive income-Items that may be reclassified to profit or loss - Financial assets at fair value through other comprehensive income  (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;84&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effect of changes in accounting policies (IFRS 9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(40)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Valuation gains and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(174)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(155)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:31.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accumulated other comprehensive income-Items that may be reclassified to profit or loss - Available-for-Sale Financial Assets (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,674&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Valuation gains and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;321&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;400&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Amounts transferred to income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;356&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,181)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other reclassifications&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(62)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;947&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,629&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;84&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(682)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Accumulatedothercomprehensiveincomeitemsthatmaybereclassifiedtoprofitorlossavailableforsalefinancialassets>
  <bbva:Disclosureoffinancialliabilitiesatamortizedcostexplanatory id="ID_55" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;22. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Financial liabilities at amortized cost&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.1  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Breakdown of the balance&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under these headings in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities measured at amortized cost (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;435,229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;467,949&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;499,706&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Deposits from Central Banks (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,281&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,054&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,740&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Deposits from Credit Institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,978&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54,516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63,501&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;375,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;376,379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;401,465&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;61,112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63,915&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;76,375&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,844&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,850&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,129&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;509,185&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;543,713&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;589,210&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;As of December 31, 2018, balance relating to repurchase agreements in Central Banks is &amp;#8364;375 million (see Note 35).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.2  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Deposits from credit institutions&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the consolidated balance sheets, according to the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nature of the financial instruments, is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:476.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:476.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from credit institutions (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:275.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:275.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Term deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30,429&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:275.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,370&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,651&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:275.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,593&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,420&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:275.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;31,978&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;54,516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;63,501&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown by geographical area and the nature of the related instruments of this heading in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from Credit Institutions. December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:41.25pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand Deposits &amp;amp; Reciprocal Accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Term Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Repurchase Agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,981&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,527&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,563&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,677&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,379&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;280&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;566&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;651&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;669&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,323&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,903&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,534&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,545&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,268&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,370&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;19,015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,593&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;31,978&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from Credit Institutions. December 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:41.25pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand Deposits &amp;amp; Reciprocal Accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Term Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Repurchase Agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;762&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,879&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;878&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,518&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,563&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,961&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,429&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;836&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;953&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;448&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,999&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,592&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,732&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,849&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,369&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,806&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;25,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;24,843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;54,516&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from Credit Institutions. December 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:41.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand Deposits &amp;amp; Reciprocal Accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Term Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Repurchase Agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;956&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,995&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,768&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,812&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,225&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,040&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;426&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,663&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,463&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;275&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;465&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,035&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;896&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,751&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,338&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,597&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;509&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,194&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,651&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30,429&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;63,501&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.3  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Customer deposits&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of this heading in the accompanying consolidated balance sheets, by type of financial instrument, is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer deposits (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;General Governments &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,396&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Current accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;238,907&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;223,497&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;212,604&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Time deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;105,257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116,538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;153,388&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,076&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,514&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Subordinated deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;220&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;233&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,864&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;330&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;375,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;376,379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;401,465&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;  In Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;184,934&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;184,150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;189,438&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;  In foreign currency&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;191,036&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;192,229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;212,027&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown by geographical &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;area of this heading in the accompanying consolidated balance sheets, by type of instrument is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer Deposits. December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Term Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Repurchase Agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;138,236&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,165&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;166,403&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62,539&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,383&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,837&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50,991&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,564&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,427&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,811&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,970&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,233&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,415&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;429&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,077&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;831&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,563&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;260,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;114,188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;375,970&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer Deposits. December 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Term Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Repurchase Agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;123,382&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39,513&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;165,559&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,728&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,436&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58,164&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,622&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,272&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;52,387&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,427&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,815&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,710&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,053&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,764&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,816&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,177&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,028&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;240,583&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;126,716&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;376,379&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer Deposits. December 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Term Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Repurchase Agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;102,730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,901&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;161,022&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,997&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50,282&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,647&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,002&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54,117&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47,340&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,971&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62,311&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,862&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,211&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,683&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30,949&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,382&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,572&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;231,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;156,425&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;401,465&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.4  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Debt &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;certificates&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; by currency, is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:481.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:481.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt certificates (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;In Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;37,436&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;38,735&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;45,619&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Promissory bills and notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;875&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-convertible bonds and debentures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,638&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,418&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,766&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Covered bonds (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,425&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,845&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Hybrid financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;814&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;468&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securitization bonds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,630&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,693&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,136&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,481&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,972&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Convertible&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,070&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Convertible perpetual securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,070&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Non-convertible&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,647&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,981&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,902&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Preferred Stock&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;359&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,540&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,875&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,543&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;In Foreign Currencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;23,676&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;25,180&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;30,759&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Promissory bills and notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;382&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-convertible bonds and debentures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,335&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,134&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Covered bonds (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;569&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;650&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;149&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Hybrid financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,455&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,059&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securitization bonds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;544&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Convertible&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;873&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,085&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,548&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Convertible perpetual securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;873&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,085&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,548&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Non-convertible&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,626&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,467&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Preferred Stock&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;620&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,846&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;  Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;61,112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;63,915&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;76,375&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Including mortgage-covered bonds (see Appendix III).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 67% of &amp;#8220;Debt certificates&amp;#8221; have fixed-interest rates and 33% have variable interest rates.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Most of the foreign currency &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;issues are denominated in U.S. dollars.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.4.1 Subordinated liabilities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The issuances of BBVA International Preferred, S.A.U., BBVA Global Finance, Ltd., Caixa Terrassa Societat de Participacions Preferents, S.A.U. and CaixaSabadell Preferents, S.A.U., are jointly, severally and irrevocably guaranteed by the Bank. The balance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;variances are mainly due to the following transactions:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Convertible perpetual liabilities&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On September 24, 2018, BBVA carried out the seventh issuance of perpetual contingent convertible securities (additional tier 1 instrument), with exclusion of pre-empt&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ive subscription rights of shareholders, for a total nominal amount of &amp;#8364;1,000 million. This issuance is listed in the AIAF Fixed Income Securities Market and in any case the issuance shall be offered or sold to any retail clients. The issuance qualifies as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; additional tier 1 capital of the Bank and the Group in accordance with Regulation EU 575/2013. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The additional five issuances of perpetual contingent convertible securities (additional tier 1 instruments) with exclusion of pre-emptive subscription rights &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of shareholders were carried out in February 2014 and February 2015 for an amount of &amp;#8364;1.5 billion each one; in April 2016 for an amount of &amp;#8364;1 billion; in May 2017 for an amount of &amp;#8364;500 million and in November 2017 for an amount of USD1 billion. These issua&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nces were targeted only at qualified investors and foreign private banking clients not being offered to, and not being subscribed for, in Spain or by Spanish residents. The first issuance is listed in the Singapore Exchange Securities Trading Limited and t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he other issuances are listed in the Global Exchange Market of the Irish Stock Exchange. Furthermore, these issuances qualify as additional tier 1 capital of the Bank and the Group in accordance with Regulation UE 575/2013.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These perpetual securities will &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;be converted into newly issued ordinary shares of BBVA if the CET 1 ratio of the Bank or the Group is less than 5.125%, in accordance with their respective terms and conditions.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These issues may&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; be fully redeemed at BBVA&amp;#180;s option only in the cases contemplated in their respective terms and conditions, and in any case, in accordance with the provisions of the applicable legislation.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In particular, on May 9, 2018, the Bank early redeemed the issuan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ce of preferred securities contingently convertible (additional tier 1 instrument) carried out by the Bank on May 9, 2013, for an amount of USD1.5 billion on the First Reset Date of the issuance and once the prior consent from the Regulator was obtained. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Additionally, on January 15, 2019, the Bank has notified its irrevocable decision to early redeem next February 19, 2019 the issuance of preferred securities contingently convertible (additional tier 1 instrument), carried out by the Bank on February 19, 2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;014, for a total amount of &amp;#8364;1,5 billion and once the prior consent from the Regulator has been obtained.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Preferred securities&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown by issuer of the balance under this heading in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Preferred Securities by Issuer (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA International Preferred, S.A.U. &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;855&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unnim Group &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;98&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;98&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Compass Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;979&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Listed on the London and New York stock exchanges.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Unnim Group: Issuances prior to the acquisition by BBVA.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These issues were fully subscribed at the moment&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of the issue by qualified/institutional investors outside the Group and are redeemable at the issuer company&amp;#8217;s option after five years from the issue date, depending on the terms of each issue and with prior consent from the Bank of Spain.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#006EC1;' &gt;Redemption of p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#006EC1;' &gt;referred securities&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On March 20, 2017 BBVA International Preferred, S.A.U. carried out the early redemption in full of its Series B preferred securities for an outstanding amount of &amp;#8364;164,350,000.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Likewise, on March 22, 2017 BBVA International Preferred, S.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;A.U. carried out the early redemption in full of its Series A preferred securities for an outstanding amount of &amp;#8364;85,550,000.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Finally, on April 18, 2017 BBVA International Preferred, S.A.U. carried out the early redemption in full of its Series C preferred &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;securities for an outstanding amount of USD 600,000,000.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.5   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Other financial liabilities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:476.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:476.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other financial liabilities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:275.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:275.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Creditors for other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,891&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,835&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,465&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:275.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Collection accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,452&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,768&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:275.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Creditors for other payables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,563&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,370&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:275.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividend payable but pending payment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;525&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:275.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,844&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;11,850&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,129&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoffinancialliabilitiesatamortizedcostexplanatory>
  <bbva:Tableoffinancialassetsatamortisedcost id="ID_56" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at amortized cost (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December      &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;32,530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;24,093&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;28,905&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;7,300&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;8,894&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;9,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;26,261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;31,373&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;374,027&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;387,621&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;414,500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,645&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,173&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;163,922&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;164,510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;172,522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;173,293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;419,660&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;445,275&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;483,672&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoffinancialassetsatamortisedcost>
  <ifrs-full:DisclosureOfLoansAndAdvancesToBanksExplanatory id="ID_57" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances to Central Banks and Credit Institutions (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,300&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,894&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,373&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Reverse repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,861&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,561&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,685&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,812&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total  &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,104&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;33,561&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;7.3.5 / 7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(36)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(43)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfLoansAndAdvancesToBanksExplanatory>
  <ifrs-full:DisclosureOfLoansAndAdvancesToCustomersExplanatory id="ID_58" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and Advances to Customers (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;On demand and short notice&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,560&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,251&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit card debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,445&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,835&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,596&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trade receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,436&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,753&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Finance leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,650&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,442&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reverse repurchase loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,291&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other term loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;324,767&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;313,336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;339,862&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,306&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;374,027&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;387,621&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;414,500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Impaired assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;7.3.5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;16,349&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;19,390&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;22,915&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;7.3.5 / 7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(12,199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(12,748)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(15,974)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfLoansAndAdvancesToCustomersExplanatory>
  <bbva:Securitizedloans id="ID_59" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17.1pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securitized Loans (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securitized mortgage assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,556&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,950&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29,512&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other securitized assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,731&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;29,777&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;33,093&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;33,243&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Securitizedloans>
  <ifrs-full:DisclosureOfDebtSecuritiesExplanatory id="ID_60" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.6pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:#000000;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,030&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,736&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,688&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other sectors &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,872&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,911&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,481&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total gross&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;32,530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;24,093&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,905&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDebtSecuritiesExplanatory>
  <bbva:Financialassetsatamortizedcostdebtsecuritiesbyrating id="ID_61" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.15pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:481.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:481.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at amortized cost. Debt Securities by Rating&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.9pt;' &gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:46.9pt;' &gt;&lt;td style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AAA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,969&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,894&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42.7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,472&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,412&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,694&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,818&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20.5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:90pt;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB+ or below&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,696&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Without rating&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,064&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,270&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;32,530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;100.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,754&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;100.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17,696&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;100.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialassetsatamortizedcostdebtsecuritiesbyrating>
  <bbva:Debtsecuritiesreclassifiedtoloansandreceivablesfromavailableforsalefinancialassets id="ID_62" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.9pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt Securities reclassified (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:102pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;As of Reclassification date&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:102pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;As of December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:102pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;As of December 31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:102pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;As of December 31, 2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Carrying Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair Value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,467&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,486&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,236&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,433&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,498&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;TURKIYE GARANTI BANKASI, A.S&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,859&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,230&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,154&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,678&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,663&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,581&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Debtsecuritiesreclassifiedtoloansandreceivablesfromavailableforsalefinancialassets>
  <bbva:Effectonincomestatementandothercomprehensiveincome id="ID_63" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.45pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:480pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effect on Income Statement and Other Comprehensive Income (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Recognized in&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Effect of not Reclassifying in&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Recognized in&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Effect of not Reclassifying in&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Recognized in&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:90pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Effect of not Reclassifying in&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:39pt;' &gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Income Statement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Income Statement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Equity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&amp;quot;Accumulated other comprehensive income&amp;quot;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Income Statement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Income Statement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Equity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&amp;quot;Accumulated other comprehensive income&amp;quot;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Income Statement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Income Statement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Equity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&amp;quot;Accumulated other comprehensive income&amp;quot;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;BBVA, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;TURKIYE GARANTI BANKASI, A.S&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;414 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;414 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(172)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(225)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(173)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;743&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;743&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(30)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(316)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Effectonincomestatementandothercomprehensiveincome>
  <ifrs-full:DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory id="ID_64" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:27pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Derivatives &amp;#8211; Hedge accounting and fair value changes of the hedged items in portfolio hedge of interest rate risk (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,485&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,833&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of the hedged items in portfolio hedges of interest rate risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,347&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of the hedged items in portfolio hedges of interest rate risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory>
  <bbva:Hedgingderivativesbreakdownbytypeoftheriskandtypeofhedge id="ID_65" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:18pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging Derivatives Breakdown by type of risk and type of hedge (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.6pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;513&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;850&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,154&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;974&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;978&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;739&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,029&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;856&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;625&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;553&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;625&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;553&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;FAIR VALUE HEDGES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,575&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;912&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,766&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,577&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;244&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;533&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;358&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;242&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;533&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;186&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;358&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Organized market other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;955&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;873&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;714&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC options&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;OTC other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;955&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;873&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;714&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;CASH FLOW HEDGES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,435&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;1,247&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;476&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.8pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;HEDGE OF NET INVESTMENTS IN A FOREIGN OPERATION&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;92&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;301&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.8pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;PORTFOLIO FAIR VALUE HEDGES OF INTEREST RATE RISK&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;256&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;214&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.8pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;PORTFOLIO CASH FLOW HEDGES OF INTEREST RATE RISK&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;DERIVATIVES-HEDGE ACCOUNTING&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;2,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;2,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;2,485&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;2,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;2,833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;2,347&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;of which: OTC - credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2,534&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2,462&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;1,829&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2,527&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2,381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2,103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;of which: OTC - other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;651&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;435&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;165&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.4pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;of which: OTC - other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#000000;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Hedgingderivativesbreakdownbytypeoftheriskandtypeofhedge>
  <ifrs-full:DisclosureOfInformationAboutTermsAndConditionsOfHedgingInstrumentsAndHowTheyAffectFutureCashFlowsExplanatory id="ID_66" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash Flows of Hedging Instruments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 Months or Less&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;From 3 Months to 1 Year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;From 1 to 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;More than 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Receivable cash inflows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;277&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,828&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,401&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Payable cash outflows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;139&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;517&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,215&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,092&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInformationAboutTermsAndConditionsOfHedgingInstrumentsAndHowTheyAffectFutureCashFlowsExplanatory>
  <bbva:Disclosureofliabilitiesunderinsurancecontractsandreinsurancecontractsissuedexplanatory id="ID_67" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;23.  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Assets and liabilities under insurance and reinsurance contracts&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group has insurance subsidiaries mainly in Spain and Latin America (mostly in Mexico). The main product offered by the insurance subsidiaries is&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; life insurance to cover the risk of death (risk insurance) and life-savings insurance. Within life and accident insurance, a distinction is made between freely sold products and those offered to customers who have taken mortgage or consumer loans, which c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;over the principal of those loans in the event of the customer&amp;#8217;s death.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;There are two types of savings products: individual insurance, which seeks to provide the customer with savings for retirement or other events, and group insurance, which is taken out &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;by employers to cover their commitments to their employees.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The insurance business is affected by different risks, including those that are related to the BBVA Group such as credit risk, market risk, liquidity risk and operational risk and the methodology &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;for risk measurement applied in the insurance activity is similar (see Note 7), although it has a differentiated management due to the particular characteristics of the insurance business, such as the coverage of contracted obligations and the long term of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the commitments. Additionally, the insurance business generates certain specific risks, of a probabilistic nature: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:4pt;margin-bottom:0pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Technical risk: arises from deviations in the estimation of the casualty rate of insurances, either in terms of numbers, the amount of such&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; claims and the timing of its occurrence.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:4pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Biometric risk: depending on the deviations in the expected mortality behavior or the survival of the insured persons.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The insurance industry is highly regulated in each country. In this regard, it should be noted &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;that the insurance industry is undergoing a gradual regulatory transformation through new risk-based capital regulations, which have already been published in several countries.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The most significant provisions recognized by consolidated insurance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;subsidiaries with respect to insurance policies issued by them are under the heading &amp;#8220;Liabilities under insurance and reinsurance contracts&amp;#8221; in the accompanyi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ng consolidated balance sheets.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Technical Reserves by type of insurance product (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mathematical reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,504&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,961&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,813&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Individual life insurance  &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#808080;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,201&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,791&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,180&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,943&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;967&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;848&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Others &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group insurance &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#808080;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,303&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,601&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,022&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,455&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;93&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;221&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provision for unpaid claims reported&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;662&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;691&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for unexpired risks and other provisions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;635&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,834&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,139&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Provides coverage in the event of death or disability.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The insurance policies purchased by employers (other than BBVA Group) on behalf of its employees&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The cash flows of those Liabilities under insurance and reinsurance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;contracts are shown below:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:31.5pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Maturity (Millions of euros)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Liabilities under Insurance and Reinsurance Contracts&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Up to 1 Year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 3 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Over 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,686&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,822&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,834&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,560&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,502&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,042&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,223&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,482&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,738&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,139&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The modeling methods and techniques used to calculate the mathematical reserves for the insurance products are actuarial and financial methods and modeling techniques approved by the respective country&amp;#8217;s &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;insurance regulator or supervisor. The most important insurance entities are located in Spain and Mexico (which together account for approximately 85% of the insurance revenues), where the modeling methods and techniques are reviewed by the insurance regul&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ator in Spain (General Directorate of Insurance) and Mexico (National Insurance and Bonding Commission), respectively. The modeling methods and techniques used to calculate the mathematical reserves for the insurance products are compliant with IFRS and pr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;imarily involve the valuation of the estimated future cash flows, discounted at the technical interest rate for each policy. To ensure this technical interest rate, asset-liability management is carried out, acquiring a portfolio of securities that generat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e the cash flows needed to cover the payment commitme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nts assumed with the customers.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The table below shows the key assumptions as of December 31, 2018, used in the calculation of the mathematical reserves for insurance products in Spain and Mexico, respec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tively:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:481.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:481.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mathematical Reserves&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:109.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:186pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:186pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Mortality table&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:186pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:186pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average technical interest type&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:109.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:67.5pt;' &gt;&lt;td style='width:109.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Individual life insurance &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GRMF 80-2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GKM 80 / GKMF 95&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PERMF 2000&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PASEM&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tables of the Comisi&amp;#243;n Nacional de Seguros y Fianzas 2000-individual&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.26%-3.27%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.50%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:67.5pt;' &gt;&lt;td style='width:109.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group insurance&lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PERMF 2000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tables of the Comisi&amp;#243;n Nacional de Seguros y Fianzas 2000-grupo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Depending on the related portfolio &lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.50%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  Provides coverage in the case of one or more of the following events: death and disability.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  Insurance policies purchased by companies (other than Group BBVA entities) on behalf of their employees.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The heading &amp;#8220;Assets under reinsurance and insurance contracts&amp;#8221; in the accompanying consolidated balance sheets includes the amounts that the consolidated insurance entities are entitled to receive under the reinsurance contracts entered into by them with t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hird parties and, more specifically, the share of the reinsurer in the technical provisions recognized by the consolidated insurance subsidiaries. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;As of December 31, 2018, 2017 and 2016, the balance under this heading amounted to &amp;#8364;366 million, &amp;#8364;421 million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &amp;#8364;447 million, respectively.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofliabilitiesunderinsurancecontractsandreinsurancecontractsissuedexplanatory>
  <bbva:Tangibleassetsbreakdownbytypeofassetcostvalueamortisationsandimpairments id="ID_68" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.4pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:480pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tangible Assets: Breakdown by Type of Assets and Changes in the year 2018. (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:123.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:123.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;For Own Use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total tangible asset of Own Use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Investment Properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Assets Leased out under an Operating Lease&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:150pt;text-align:center;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Land and Buildings&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Work in Progress&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Furniture, Fixtures and Vehicles&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,352&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;228&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,072&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;445&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;938&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(98)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(492)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(607)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(757)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(177)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(125)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(214)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(224)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(105)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(213)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,314&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;201&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,910&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Accrued depreciation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,076&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,380&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,546&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;469&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;594&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(36)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(403)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(439)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(447)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of entities in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(55)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(212)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(200)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(198)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,350&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,437&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(80)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.2pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;217&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;217&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;244&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Net tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,099&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;6,581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;415&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;7,191&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.4pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,584&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;6,756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;310&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;7,229&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:480pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tangible Assets. Breakdown by Type of Assets and Changes in the year 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:123.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:123.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;For Own Use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total tangible asset of Own Use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Investment Properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Assets Leased out under an Operating Lease&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:150pt;text-align:center;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Land and Buildings&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Work in Progress&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Furniture, Fixtures and Vehicles&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24pt;' &gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,473&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;958&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,594&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;397&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;574&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;201&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;776&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(264)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(335)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(90)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(93)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(518)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of entities in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(552)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(552)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(273)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(186)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(516)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(698)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,214)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(420)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(378)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(844)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(148)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,014)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,352&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;228&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,072&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Accrued depreciation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,461&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,577&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,856&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;553&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;693&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(235)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(261)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(289)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of entities in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(134)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(134)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(146)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(230)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(88)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(253)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(341)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(350)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,076&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,380&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,546&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;798&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of entities in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(58)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(58)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(276)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(334)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(140)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Net tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;7,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;732&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;8,941&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,099&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;6,581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;415&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;7,191&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:480pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tangible Assets. Breakdown by Type of Assets and Changes in the year 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:123.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:123.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;For Own Use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total tangible asset of Own Use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Investment Properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Assets Leased out under an Operating Lease&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:150pt;text-align:center;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Land and Buildings&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Work in Progress&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Furniture, Fixtures and Vehicles&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24pt;' &gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,858&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;14,029&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17,088&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;563&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;913&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,312&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(85)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(468)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(582)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(117)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(97)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(796)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of entities in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;676&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(544)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(386)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(254)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(986)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;84&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,156)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(296)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(52)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(277)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(625)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(184)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(843)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,473&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;958&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,594&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Accrued depreciation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,551&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,654&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,972&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;561&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;690&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(72)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(461)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(533)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(560)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(37)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(55)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(153)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(173)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(208)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,461&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,577&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,856&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;808&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,172&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(380)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(381)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(125)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;798&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Net tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,401&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;3,077&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;8,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;1,467&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;9,944&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;7,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;732&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;8,941&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tangibleassetsbreakdownbytypeofassetcostvalueamortisationsandimpairments>
  <bbva:Branchesbygeographicallocation id="ID_69" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Branches by Geographical Location (Number of branches)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,303&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,836&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,836&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.15pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,543&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,667&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.15pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;646&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;651&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;676&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.15pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,095&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,131&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.15pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Eurasia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,271&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,660&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Branchesbygeographicallocation>
  <bbva:Tangibleassetsbyspanishandforeignsubsidiariesnetassetsvalues id="ID_70" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tangible Assets by Spanish and Foreign Subsidiaries. Net Assets Values (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA and Spanish subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,574&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,692&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreign subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,524&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,249&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,941&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tangibleassetsbyspanishandforeignsubsidiariesnetassetsvalues>
  <ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory id="ID_71" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:486.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:486.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Goodwill. Breakdown by CGU and Changes of the year (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:38.1pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Colombia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Chile&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance as of December 31, 2015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;727&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;602&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,915&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(79)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance as of December 31, 2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,503&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,937&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(666)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(115)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(44)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(851)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(43)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance as of December 31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,837&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;509&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;168&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,062&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange difference&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(127)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance as of December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;382&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,180&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory>
  <bbva:Impairmenttesthypothesescgugoodwillintheunitedstates id="ID_72" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment test hypotheses CGU Goodwill in the United States &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.5%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sustainable growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Impairmenttesthypothesescgugoodwillintheunitedstates>
  <bbva:Sensitivityanalysisformainhypothesesusa id="ID_73" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:14.25pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:481.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:481.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sensitivity analysis for main hypotheses - USA (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impact of an increase of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impact of a decrease of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,009)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,176&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sustainable growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(451)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  Based on historical changes, the use of 50 basis points to calculate the se&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nsitivity analysis would be a reasonable variation with respect to the observed variations over the last five years.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Sensitivityanalysisformainhypothesesusa>
  <bbva:Impairmenttesthypothesescgugoodwillinturkey id="ID_74" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment test assumptions CGU Goodwill in Turkey&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.45pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.45pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sustainable growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Impairmenttesthypothesescgugoodwillinturkey>
  <bbva:Disclosureofprovisions id="ID_75" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;24.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Provisions&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheets, based on type of provisions, is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions. Breakdown by concepts (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for pensions and similar obligations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,787&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,025&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other long term employee benefits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for taxes and other legal contingencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;686&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;418&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for contingent risks and commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;950&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other provisions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;601&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;669&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,609&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,071&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The change in provisions for pensions and similar obligations for the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;years ended December 31, 2018, 2017 and 2016 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for pensions and similar obligations. Changes Over the Year (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,025&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,299&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Add&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Charges to income for the year &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;402&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Interest expenses and similar charges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Personnel expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Provision expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Charges to equity &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#808080;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;339&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Transfers and other changes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(264)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Less&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(779)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(861)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(926)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(103)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(154)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,787&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,025&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Correspond to actuarial losses (gains) arising from certain defined-benefit post-employment pension commitments and other similar benefits recognized in &amp;#8220;Equity&amp;#8221; (see &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Note 2.2.12).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:14.25pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for Taxes, Legal Contingents and Other Provisions. Changes Over the Year (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,425&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,028&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,771&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;455&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;868&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,109&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unused amounts reversed during the period&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(184)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(311)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Amount used and other variations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(410)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,306)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(540)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,425&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Ongoing legal proceedings and litigation&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The financial sector faces an environment of increasing regulatory and litigious pressure. In this environment, the different Group&amp;#8217;s entities are often parties to individual or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; collective legal proceedings arising from the ordinary activity of their businesses. In accordance with the procedural status of these proceedings and according to the criteria of the attorneys who manage them, BBVA considers that none of them is material&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, individually or in aggregate, and that no significant impact will derive from them neither in the results of operations nor on liquidity, nor in the financial position at a consolidated level of the Group, as at the level of the individual Bank. The Grou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;p Management considers that the provisions made in connection with these legal proceedings are adequate.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As mentioned in Note 7.2 Risk factors, the Group is subject or may be subject in the future to a series of legal and regulatory investigations, proced&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ures and actions which, in case of a negative result, could have an adverse impact on the Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofprovisions>
  <bbva:Sensitivityanalysisformainhypothesesturkey id="ID_76" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.9pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sensitivity analysis for main assumptions - Turkey (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.45pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impact of an increase of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impact of a decrease of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sustainable growth rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(37)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  Based on historical changes, the use of 50 basis points to calculate the sensitivity analysis would be a reasonable v&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ariation with respect to the observed variations over the last five years.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Sensitivityanalysisformainhypothesesturkey>
  <ifrs-full:DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory id="ID_77" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other intangible assets (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Computer software acquisition expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,605&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,877&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other intangible assets with an infinite useful life&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other intangible assets with a definite useful life&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;708&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;960&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,402&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,849&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory>
  <bbva:Otherintangibleassetschangesovertheperiod id="ID_78" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other Intangible Assets (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,402&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,849&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,137&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;564&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;645&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Amortization in the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(614)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(694)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(735)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange differences and other &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(305)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(196)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(83)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,402&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,849&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Otherintangibleassetschangesovertheperiod>
  <ifrs-full:DisclosureOfEmployeeBenefitsExplanatory id="ID_79" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;25.  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Post-employment and other employee benefit commitments&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As stated in Note 2.2.12, the Group has assumed commitments with employees including short-term employee benefits (see Note 44.1), defined contribution and defined benefit plans (see Glossary), &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;healthcare and other long-term employee benefits.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group sponsors defined-contribution plans for the majority of its active employees with the plans in Spain and Mexico being the most significant. Most defined benefit plans are closed to new employees w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ith liabilities relating largely to retired employees, the most significant being those in Spain, Mexico, the United States and Turkey. In Mexico, the Group provides medical benefits to a closed group of employees and their family members, both active serv&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ice and in retirees.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance sheet net defined benefit liability as of December 31, 2018, 2017 and 2016 is provided below:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Net Defined Benefit Liability (asset) on the Consolidated Balance Sheet (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pension commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,678&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,969&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,277&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Early retirement commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,793&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,559&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Medical benefits commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,015&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other long term employee benefits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,647&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,920&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pension plan assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,694&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,909&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Medical benefit plan assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,113&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#FFFFFF;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,006&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,022&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total net liability / asset &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,445&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,898&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Net asset on the consolidated balance sheet  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(194)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Net liability on the consolidated balance sheet  for provisions for pensions and similar obligations (3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;4,787&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;5,407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;6,025&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Net liability on the consolidated balance sheet  for other long term employee benefits (4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  In Turkey, the foundation responsible for managing the benefit commitments holds an additional asset of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;181&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8364; million which, in accordance with IFRS regarding the asset ceiling, has not been recognized in the Consolidated Financial Statements, because &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;although it could be used to reduce future pension contributions it could not be immediately refunded to the employer.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  Recorded under the heading &amp;#8220;Other Assets - Other&amp;#8221; of the consolidated balance sheet (see Note 20).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(3)  Recorded under the heading &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;Provisions - Provisions for pensions and similar obligations&amp;#8221; of the consolidated balance sheet (see Note 24).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(4)  Recorded under the heading &amp;#8220;Provisions &amp;#8211; Other long-term employee benefits&amp;#8221; of the consolidated balance sheet.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amounts relating to ben&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;efit commitments charged to consolidated income statement for the years 2018, 2017 and 2016 are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Consolidated Income Statement Impact (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Interest and similar expenses &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;303&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(223)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(207)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Personnel expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;149&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Defined contribution plan expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Defined benefit plan expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Provisions (net)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;343&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;332&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Early retirement expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;236&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Past service cost expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Remeasurements &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;(*)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other provision expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total impact on Consolidated Income Statement: Debit (Credit)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;350&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;563&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;582&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Actuarial losses (gains) on remeasurement of the net defined benefit liability relating to early retirements in Spain &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and other long-term employee benefits that are charged to the income statements (see Note 2.2.12).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amounts relating to post-employment benefits charged to the consolidated balance sheet correspond to the actuarial gains (losses) on remeasurement of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the net defined benefit liability relating to pension and medical commitments before income taxes. As of December 31, 2018, 2017 and 2016 are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity Impact (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Defined benefit plans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(40)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Post-employment medical benefits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total impact on equity: Debit (Credit)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;356&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;25.1  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Defined benefit plans&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Defined benefit commitments relate mainly to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;employees who have already retired or taken early retirement, certain closed groups of active employees still accruing defined benefit pensions, and in-service death and disability benefits provided to most active employees. For the latter, the Group pays &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the required premiums to fully insure the related liability. The change in these pension commitments during the years ended December 31, 2018, 2017 and 2016 is presented below:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:487.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:487.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Defined Benefits (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Plan Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Net Liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Plan Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Net Liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Plan Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Net Liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8,384&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3,006&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,378&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8,851&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3,022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,829&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;9,184&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3,124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;6,060&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;292&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;217&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;290&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;92&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(103)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(154)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Past service costs &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(263)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(286)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;331&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;359&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;      Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(286)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(161)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(274)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(274)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;220&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;220&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(979)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(200)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(779)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,029)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(169)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(861)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,052)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(169)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(883)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Settlement payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(43)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(43)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(278)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(258)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(282)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(293)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Conversions to defined contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;84&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;84&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;7,585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4,745&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8,384&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3,006&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,378&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8,851&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3,022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,829&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;Of which&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;260&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;358&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,799&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,615&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,661&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,602&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,627&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(171)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;287&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;385&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;422&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;520&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;424&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;348&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  In&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cluding gains and losses arising from settleme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nts.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Excluding interest, which is recorded under &amp;quot;Interest income or expense&amp;quot;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The balance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; under the heading &amp;#8220;Provisions - Pensions and other post-employment defined benefit obligations&amp;#8221; of the accompanying consolidated balance sheet as of December 31, 2018 includes &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;332&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million relating to post-employment benefit commitments to former members &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of the Board of Directors and the Bank&amp;#8217;s Management (see Note 54).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The most significant commitments are those in Spain and Mexico and, to a lesser extent, in the United States and Turkey. The remaining commitments are located mostly in Portugal and South A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;merica. Unless otherwise required by local regulation, all defined benefit plans have been closed to new entrants, who instead are able to participate in the Group&amp;#180;s defined contribution plans.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Both the costs and the present value of the commitments are de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;termined by independent qualified actuaries using the &amp;#8220;projected unit credit&amp;#8221; method.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In order to guarantee the good governance of these plans, the Group has established specific benefits committees. These benefit committees include members from the differ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ent areas of the business to ensure that all decisions are made taking into consideration all of the associated impacts.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following table sets out the key actuarial assumptions used in the valuation of these commitments as of December 31, 2018, 2017 and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; 2016:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:6.75pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Actuarial Assumptions (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:34.5pt;' &gt;&lt;td style='width:60pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain &lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10.45%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4.23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16.30%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.24%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9.48%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.57%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11.60%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9.95%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4.04%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11.50%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:60pt;text-align:left;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Rate of salary increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9.90%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9.30%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:60pt;text-align:left;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Rate of pension increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.51%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.13%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8.40%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.13%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7.80%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:60pt;text-align:left;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Medical cost trend rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16.70%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12.60%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10.92%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:60pt;text-align:left;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Mortality tables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;PERM/F 2000P&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;EMSSA09&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;RP 2014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;CSO2001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;PERM/F 2000P&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;EMSSA09&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;RP 2014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;CSO2001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;PERM/F 2000P&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;EMSSA97 (adjustment EMSSA09)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;RP 2014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;CSO2001&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In Spain, the discount rate shown as of December, 31, 2018, corresponds to the weighted average rate, the actual discount rates used are 0.50% and 1.75% depending on the type of commitment.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Discount rates used to value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; future benefit cash flows have been determined by reference to high quality corporate bonds (Note 2.2.12) denominated in Euro in the case of Spain, Mexican peso for Mexico and USD for the United States, and government bonds denominated in new Turkish Lira&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; for Turkey.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The expected return on plan assets has been set in line with the adopted discount rate.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Assumed retirement ages have been set by reference to the earliest age at which employees are entitled to retire, the contractually agreed age in the case &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of early retirements in Spain or by using retirement rates.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Changes in the main actuarial assumptions may affect the valuation of the commitments. The table below shows the sensitivity of the benefit obligations to changes in the key assumptions:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Sensitivity Analysis (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Basis points change&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:124.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:124.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:171.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Decrease&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Decrease&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(298)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;332&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(352)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Rate of salary increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Rate of pension increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Medical cost trend rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(181)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;290&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(225)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Change in obligation from each additional year of longevity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;155&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The sensitivities provided above have been determined at the date of these consolidated financial statements, and reflect solely the impact of changing one individual assumption at a time, keeping the rest of the assumptions unchanged, t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hereby excluding the effects which may result from combined assumption changes.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition to the commitments to employees shown above, the Group has other less material long-term employee benefits. These include long-service awards, which consist of eith&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;er an established monetary award or some vacation days granted to certain groups of employees when they complete a given number of years of service. As of December 31, 2018, 2017 and 2016, the actuarial liabilities for the outstanding awards amounted to &amp;#8364;6&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;2 million, &amp;#8364;67 million, and &amp;#8364;69 million, respectively. These commitments are recorded under the heading &amp;quot;Provisions - Other long-term employee benefits&amp;quot; of the accompanying consolidated balance sheet (see Note 24).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As described above, the Group maintains b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;oth pension and medical post-employment benefit commitments with their employees.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;25.1.1 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#072146;' &gt;Post-employment commitments and similar obligations&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These commitments relate mostly to pensions in payment, and which have been determined based on salary and years &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of service. For most plans, pension payments are due on retirement, death and long term disability.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, during the year 2018, Group entities in Spain offered certain employees the option to take retirement or early retirement (that is, earlier tha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n the age stipulated in the collective labor agreement in force). This offer was accepted by &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;489&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; employees (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;731&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;613&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; employees during years 2017 and 2016, respectively). These commitments include the compensation and indemnities due as well as the contr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ibutions payable to external pension funds during the early retirement period&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. As of December 31, 2018, 2017 and 2016, the value of these commitments amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1,793&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;2,210&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;2,559&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, respectively. The change in the benefit pla&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n obligations and plan assets as of December 31, 2018 was as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Post-employment commitments  2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:251.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:251.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;470&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;520&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;387&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Past service costs &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(824)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(134)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4,807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;422&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;402&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;Vested benefit obligation relating to current employees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;Vested benefit obligation relating to retired employees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,696&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Post-employment commitments  2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:251.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:251.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Plan Assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;424&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;351&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(70)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(70)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(61)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(108)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;260&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;287&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;366&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.25pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:479.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:479.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Post-employment commitments  2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:247.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:247.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net Liability (Asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Past service costs &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(763)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  I&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncluding gains and losses arising from settlements.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Excluding interest, which is recorded&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; under &amp;quot;Interest income or expense&amp;quot;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The change in net liabilities (assets) during the years ended 2017 and 2016 was as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8.25pt;' &gt;&lt;td colspan='11' rowspan='1' style='width:476.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:476.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Post-employment commitments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &gt;&lt;td style='width:108.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:183.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:183.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017: Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:183.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:183.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016: Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:108.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;6,109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(79)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;98&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Past service costs &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(67)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(842)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(867)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Settlement payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(43)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Conversions to defined contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Includes gains and losses from settlements.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Excludes interest which is reflected&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in the line item &amp;#8220;Interest income and expenses&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In Spain, local regulation requires that pension and death benefit commitments must be funded, either through a qualified pension plan or an insurance contract.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the Spanish entities these commitments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;are covered by insurance contracts which meet the requirements of the accounting standard regarding the non-recoverability of contributions. However, a significant number of the insurance contracts are with BBVA Seguros, S.A. &amp;#8211; a consolidated subsidiary an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;d related party &amp;#8211; and consequently these policies cannot &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;be considered plan assets under IAS 19. For this reason, the liabilities insured under these policies are fully recognized under the heading &amp;quot;Provisions &amp;#8211; Pensions and other postemployment defined be&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nefit obligations&amp;quot; of the accompanying consolidated balance sheet (see Note 24), while the related assets held by the insurance company are included within the Group&amp;#180;s consolidated assets (recorded according to the classification of the corresponding finan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;cial instruments). As of December 31, 2018 the value of these separate assets was &amp;#8364;2,543 million, representing direct rights of the insured employees held in the consolidated balance sheet, hence these benefits are effectively fully funded.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On the other ha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nd, some pension commitments have been funded through insurance contracts with insurance companies not related to the Group, and can therefore be considered qualifying insurance policies and plan assets under IAS 19. In this case the accompanying consolida&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ted balance sheet reflects the value of the obligations net of the fair value of the qualifying insurance policies. As of December 31, 2018, 2017 and 2016, the fair value of the aforementioned insurance policies (&amp;#8364;260, &amp;#8364;320 million and &amp;#8364;358 million, respec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tively) exactly match the value of the corresponding obligations and therefore no amount for this item has been recorded in the accompanying consolidated balance sheet.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Pensions benefits are paid by the insurance companies with whom BBVA has insurance cont&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;racts and to whom all insurance premiums have been paid. The premiums are determined by the insurance companies using &amp;#8220;cash flow matching&amp;#8221; techniques to ensure that benefits can be met when due, guaranteeing both the actuarial and interest rate risk.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In Me&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;xico, there is a defined benefit plan for employees hired prior to 2001. Other employees participate in a defined contribution plan. External funds/trusts have been constituted locally to meet benefit payments as required by local regulation.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the United&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; States there are mainly two defined benefit plans, both closed to new employees, who instead are able to join a defined contribution plan. External funds/trusts have been constituted locally to fund the plans, as required by local regulation.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In 2008, the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; Turkish government passed a law to unify the different existing pension systems under a single umbrella Social Security system. Such system provides for the transfer of the various previously established funds.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The financial sector is in this stage at pre&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sent, maintaining these pension commitments managed by external pension funds (foundations) established for that purpose.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Foundation that maintains the assets and liabilities relating to employees of Garanti in Turkey, as per the local regulatory requi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rements, has recorded an obligation amounting to &amp;#8364;241 million as of December 31, 2018 pending future transfer to the Social Security system.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Furthermore, Garanti has set up a defined benefit pension plan for employees, additional to the social security ben&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;efits, reflected in the consolidated balance sheet.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Until the year 2016, the Bank also had commitments to pay indemnities to certain employees and members of the Group&amp;#8217;s Senior Management in the event that they cease to hold their positions for reasons oth&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;er than their own will, retirement, disability or serious dereliction of duties. The amount will be calculated according to the salary and professional conditions of each employee, taking into consideration fixed elements of the remuneration and the length&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of office at the Bank. Under no circumstances indemnities will be paid in cases of disciplinary dismissal for misconduct upon decision of the employer on grounds of the employee&amp;#39;s serious dereliction of duties.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;25.1.2 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;color:#072146;' &gt;Medical benefit commitments&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;change in defined benefit obligations and plan assets during the years 2018, 2017 and 2016 was as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:487.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:487.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Medical Benefits Commitments&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:112.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:112.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:112.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:112.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:112.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:112.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:42.75pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Plan assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Plan assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Plan assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(98)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,149&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(127)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(71)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(114)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Past service costs &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(210)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;200&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(60)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(60)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;        From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;        From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(182)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(182)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;        Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(30)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(92)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(138)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(156)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(98)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  I&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncluding gains and losses arising from settlements.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Excluding interest, which is recorded under &amp;quot;Interest incom&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e or expense&amp;quot;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In Mexico, there is a medical benefit plan for employees hired prior to 2007. New employees from 2007 are covered by a medical insurance policy. An external trust has been constituted locally to fund the plan, in accordance with local legis&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;lation and Group policy.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In Turkey, employees are currently provided with medical benefits through a foundation in collaboration with the Social Security system, although local legislation prescribes the future unification of this and similar systems into &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the general Social Security system itself.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The valuation of these benefits and their accounting treatment follow the same methodology as that employed in the valuation of pension commitments.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;25.1.3 Estimated benefit payments&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;estimated benefit payments over the next ten years for all the entities in Spain, Mexico, The United States and Turkey are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Estimated Benefit Payments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:140.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2024-2028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:140.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commitments in Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;684&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;611&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;419&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;333&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;965&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:140.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commitments in Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;92&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;680&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:140.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commitments in United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:140.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commitments in Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:140.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;734&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;652&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;563&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;489&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,979&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;25.1.4 Plan assets&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The majority of the Group&amp;#180;s defined benefit plans are funded by plan assets he&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ld in external funds/trusts legally separate from the Group sponsoring entity. However, in accordance with local regulation, some commitments are not externally funded and covered through internally held provisions, principally those relating to early reti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rements in Spain.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Plan assets are those assets which will be used to directly settle the assumed commitments and which meet the following conditions: they are not part of the Group sponsoring entities assets, they are available only to pay post-employment &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;benefits and they cannot be returned to the Group sponsoring entity.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;To manage the assets associated with defined benefit plans, BBVA Group has established investment policies designed according to criteria of prudence and minimizing the financial risks as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sociated with plan assets.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The investment policy consists of investing in a low risk and diversified portfolio of assets with maturities consistent with the term of the benefit obligation and which, together with contributions made to the plan, will be suf&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ficient to meet benefit payments when due, thus mitigating the plans&amp;#8216; risks.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In those countries where plan assets are held in pension funds or trusts, the investment policy is developed consistently with local regulation. When selecting specific assets, cu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rrent market conditions, the risk profile of the assets and their future market outlook are all taken into consideration. In all the cases, the selection of assets takes into consideration the term of the benefit obligations as well as short-term liquidity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; requirements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The risks associated with these commitments are those which give rise to a deficit in the plan assets. A deficit could arise from factors such as a fall in the market value of plan assets, an increase in long-term interest rates leading to a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; decrease in the fair value of fixed income securities, or a deterioration of the economy resulting in more write-downs and credit rating downgrades.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The table below shows the allocation of plan assets of the main companies of the BBVA Group as of December&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; 31, 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Plan Assets Breakdown (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:432pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash or cash equivalents&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities (Government bonds)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,080&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mutual funds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Insurance contracts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:432pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,241&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Bank account in BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition to the above there are plan assets relating to the previously mentioned insurance contracts in Spain and the foundation in Turkey.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The following table provides details of investments in listed securities (Leve&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;l 1) as of December 31, 2018:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Investments in listed markets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash or cash equivalents&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities (Government bonds)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,080&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mutual funds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,109&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Bank account in BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The remainders of the assets are mainly invested in Level 2 assets in in accordance with the classification established under IFRS 13 (mainly insurance contracts). As of December 31, 2018, almost all &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of the assets related to employee&amp;#8217;s commitments corresponded to fixed income securities.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;25.2  Defined contribution &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;plans&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Certain Group entities sponsor defined contribution plans. Some of these plans allow employees to make contributions which are then &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;matched by the employer.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Contributions are recognized as and when they are accrued, with a charge to the consolidated income statement in the corresponding year. No liability is therefore recognized in the accompanying consolidated balance sheet (see Note &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;44.1).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEmployeeBenefitsExplanatory>
  <bbva:Tableofotherassetsandliabilitiesexplanatory id="ID_80" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other assets and liabilities: (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Inventories&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,298&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Real estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;633&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;226&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,268&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transactions in progress&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;156&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;241&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accruals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;702&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;768&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;723&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Prepaid expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;465&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;509&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;518&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other prepayments and accrued income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;259&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;204&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other items&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,886&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,012&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Other Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,472&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,274&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transactions in progress&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;165&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;127&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accruals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,558&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,721&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Accrued expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,997&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,125&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other accrued expenses and deferred income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;439&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;596&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other items&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,704&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,894&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,131&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Other Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,301&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,979&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofotherassetsandliabilitiesexplanatory>
  <ifrs-full:DisclosureOfInventoriesExplanatory id="ID_81" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15.6pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Inventories from Distressed Customers (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.8pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Gross value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,318&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Acquisitions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;533&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;336&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.2pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2,288)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,214)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,653)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.2pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,499&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accumulated impairment losses &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5,385)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Carrying amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInventoriesExplanatory>
  <bbva:Disclosurenoncurrentassetsanddisposalgroupsclassifiedasheldforsalebreakdownbyitemsexplanatory id="ID_82" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:23.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale Breakdown by items (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Foreclosures and recoveries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,225&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Foreclosures (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,047&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,057&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Recoveries from financial leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;168&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other assets from tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;433&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,181&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Property, plant and equipment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;378&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Operating leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;803&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Investment properties (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Business sale - Assets (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Accrued amortization (***)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(44)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(116)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Impairment losses &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(628)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,348)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,727)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total Non-current assets and disposal groups classified as held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;23,853&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,603&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Corresponds mainly to the agreement with Cerberus to transfer the &amp;quot;Real Estate&amp;quot; business in Spain (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(**)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Corresponds mainly to the BBVA&amp;#180;s stake in BBVA Chile (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(***) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Amortiza&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tion accumulated until related asset reclassified as &amp;#8220;non-current assets and disposal groups held for sale&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosurenoncurrentassetsanddisposalgroupsclassifiedasheldforsalebreakdownbyitemsexplanatory>
  <bbva:Disclosurenoncurrentassetsanddisposalgroupsclassifiedasheldforsalechangesintheyearexplanatory id="ID_83" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15.6pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale Changes in the year 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Foreclosed Assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;From Own Use Assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Other assets (**)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:31.15pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Foreclosed Assets through Auction Proceeding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Recovered Assets from Finance Leases&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Cost  (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;6,047&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;25,201&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;637&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;696&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4,354)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(135)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(227)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(18,594)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(23,310)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers, other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(195)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;241&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;389&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,629&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Impairment  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,348&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;208&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(793)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(37)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(931)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;482&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;628&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end of Net carrying value (1)-(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,001&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Net of amortization accumulated until assets were reclassified as non-current assets held for sale&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(**) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The variation corresponds mainly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the BBVA&amp;#8217;s stake in BBVA Chile and the agreement with Cerberus to transfer the &amp;quot;Real Estate&amp;quot; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;business in Spain (see Note 3)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale Changes in the year 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Foreclosed Assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;From Own Use Assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Other assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Foreclosed Assets through Auction Proceeding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Recovered Assets from Finance Leases&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Cost  (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4,057&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;168&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,065&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,330&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;791&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;837&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,037)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(49)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(131)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,217)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers, other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,236&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(564)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18,583&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20,251&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;6,047&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;25,201&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Impairment  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;443&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,727&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(272)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(321)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(208)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(216)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,348&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end of Net carrying value (1)-(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4,945&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;23,853&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Net of amortization accumulated until assets were reclassified as non-current assets held for sale&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(**) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The variation corresponds mainly&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the BBVA&amp;#8217;s stake in BBVA Chile and the agreement with &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Cerberus to transfer the &amp;quot;Real Estate&amp;quot; business in Spain (see Note 3)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale Changes in the year 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Foreclosed Assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;From Own Use Assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Other assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(**)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Foreclosed Assets through Auction Proceeding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Recovered Assets from Finance Leases&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Cost  (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,775&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;626&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4,654&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;582&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;662&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(779)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(170)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,023)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers, other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;586&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,037&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4,057&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;168&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,065&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,330&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;Impairment  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;994&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,285&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;136&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(153)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(192)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other movements and exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;232&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;499&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;443&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,727&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end of Net carrying value (1)-(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,820&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;621&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,603&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Net of amortization accumulated until assets were reclassified as non-current assets held for sale&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosurenoncurrentassetsanddisposalgroupsclassifiedasheldforsalechangesintheyearexplanatory>
  <bbva:Tableoffinancialliabilitiesatamortizedcostexplanatory id="ID_84" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities measured at amortized cost (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;435,229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;467,949&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;499,706&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Deposits from Central Banks (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,281&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,054&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,740&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Deposits from Credit Institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,978&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54,516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63,501&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;375,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;376,379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;401,465&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;61,112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63,915&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;76,375&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,844&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,850&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,129&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;509,185&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;543,713&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;589,210&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;As of December 31, 2018, balance relating to repurchase agreements in Central Banks is &amp;#8364;375 million (see Note 35).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Tableoffinancialliabilitiesatamortizedcostexplanatory>
  <bbva:Tableofdepositsfrombanksexplanatory id="ID_85" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:476.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:476.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from credit institutions (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:275.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:275.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Term deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30,429&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:275.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,370&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,651&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:275.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,593&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,420&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:275.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;31,978&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;54,516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;63,501&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofdepositsfrombanksexplanatory>
  <bbva:Disclosureofdepositsfrombanksbygeographicalareaandinstrumentexplanatory id="ID_86" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from Credit Institutions. December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:41.25pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand Deposits &amp;amp; Reciprocal Accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Term Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Repurchase Agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,981&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,527&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,563&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,677&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,379&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;280&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;566&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;651&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;669&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,323&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,903&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,534&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,545&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,268&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,370&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;19,015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,593&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;31,978&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from Credit Institutions. December 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:41.25pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand Deposits &amp;amp; Reciprocal Accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Term Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Repurchase Agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;762&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,879&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;878&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,518&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,563&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,961&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,429&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;836&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;953&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;448&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,999&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,592&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,732&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,849&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,369&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,806&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;25,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;24,843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;54,516&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from Credit Institutions. December 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:41.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand Deposits &amp;amp; Reciprocal Accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Term Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Repurchase Agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;956&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,995&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,768&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,812&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,225&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,040&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;426&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,663&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,463&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;275&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;465&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,035&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;896&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,751&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,338&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,597&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;509&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,194&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,651&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30,429&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;63,501&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofdepositsfrombanksbygeographicalareaandinstrumentexplanatory>
  <bbva:Tableofdepositsfromcustomersexplanatory id="ID_87" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer deposits (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;General Governments &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,396&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Current accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;238,907&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;223,497&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;212,604&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Time deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;105,257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116,538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;153,388&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,076&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,514&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Subordinated deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;220&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;233&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,864&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;330&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;375,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;376,379&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;401,465&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;  In Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;184,934&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;184,150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;189,438&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;  In foreign currency&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;191,036&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;192,229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;212,027&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofdepositsfromcustomersexplanatory>
  <bbva:Disclosureofdepositsfromcustomersbygeographicalareaandinstrumentexplanatory id="ID_88" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer Deposits. December 2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Term Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Repurchase Agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;138,236&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,165&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;166,403&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62,539&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,383&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,837&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50,991&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,564&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,427&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,811&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,970&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,233&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,415&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;429&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,077&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;831&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,563&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;260,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;114,188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;375,970&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer Deposits. December 2017 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Term Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Repurchase Agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;123,382&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39,513&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;165,559&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,728&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,436&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58,164&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,492&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,622&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,272&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;52,387&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,427&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,815&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,710&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,053&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,764&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,816&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,177&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,028&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;240,583&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;126,716&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;376,379&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer Deposits. December 2016 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Demand Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Term Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Repurchase Agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;102,730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,901&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;161,022&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,997&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50,282&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,647&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,002&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54,117&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47,340&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,971&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62,311&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,862&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,211&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,683&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30,949&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,382&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,572&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;231,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;156,425&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;401,465&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofdepositsfromcustomersbygeographicalareaandinstrumentexplanatory>
  <bbva:Disclosureofdebtsecuritiesissuedexplanatory id="ID_89" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:481.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:481.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt certificates (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;In Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;37,436&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;38,735&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;45,619&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Promissory bills and notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;875&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-convertible bonds and debentures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,638&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,418&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,766&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Covered bonds (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,425&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,845&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Hybrid financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;814&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;468&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securitization bonds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,630&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,693&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,136&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,481&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,972&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Convertible&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,070&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Convertible perpetual securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,070&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Non-convertible&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,647&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,981&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,902&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Preferred Stock&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;359&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,540&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,875&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,543&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;In Foreign Currencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;23,676&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;25,180&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;30,759&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Promissory bills and notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;382&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-convertible bonds and debentures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,335&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,134&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Covered bonds (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;569&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;650&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;149&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Hybrid financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,455&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,059&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securitization bonds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;544&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Convertible&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;873&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,085&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,548&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Convertible perpetual securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;873&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,085&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,548&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Non-convertible&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,626&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,467&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Preferred Stock&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;620&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:333pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other subordinated liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,846&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;  Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;61,112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;63,915&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;76,375&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Including mortgage-covered bonds (see Appendix III).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofdebtsecuritiesissuedexplanatory>
  <bbva:Disclosureofpreferredsecuritiesbyissuerexplanatory id="ID_90" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Preferred Securities by Issuer (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA International Preferred, S.A.U. &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;855&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unnim Group &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;98&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;98&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Compass Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;979&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Listed on the London and New York stock exchanges.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Unnim Group: Issuances prior to the acquisition by BBVA.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofpreferredsecuritiesbyissuerexplanatory>
  <bbva:Tableoffinancialliabilitiesexplanatory id="ID_91" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:476.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:476.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other financial liabilities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:275.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:275.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Creditors for other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,891&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,835&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,465&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:275.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Collection accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,452&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,768&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:275.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Creditors for other payables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,563&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,370&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:275.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividend payable but pending payment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;525&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:275.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:275.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,844&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;11,850&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,129&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoffinancialliabilitiesexplanatory>
  <bbva:Technicalreservesbytypeofinsuranceproduct id="ID_92" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Technical Reserves by type of insurance product (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mathematical reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,504&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,961&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,813&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Individual life insurance  &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#808080;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,201&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,791&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,180&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,943&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;967&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;848&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Others &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group insurance &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#808080;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,303&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,601&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,022&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,455&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;93&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;221&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provision for unpaid claims reported&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;662&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;691&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for unexpired risks and other provisions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;635&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,834&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,139&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Provides coverage in the event of death or disability.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The insurance policies purchased by employers (other than BBVA Group) on behalf of its employees&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Technicalreservesbytypeofinsuranceproduct>
  <bbva:Cashflowsofliabilitiesunderreinsuranceandreinsurancecontracts id="ID_93" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:31.5pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Maturity (Millions of euros)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Liabilities under Insurance and Reinsurance Contracts&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Up to 1 Year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 3 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Over 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,686&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,822&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,834&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,560&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,502&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,042&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,223&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,482&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,738&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,139&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Cashflowsofliabilitiesunderreinsuranceandreinsurancecontracts>
  <bbva:Keyassumptionsmathematicalreserves id="ID_94" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:481.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:481.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mathematical Reserves&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:109.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:186pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:186pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Mortality table&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:186pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:186pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average technical interest type&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:109.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:67.5pt;' &gt;&lt;td style='width:109.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Individual life insurance &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GRMF 80-2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;GKM 80 / GKMF 95&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PERMF 2000&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PASEM&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tables of the Comisi&amp;#243;n Nacional de Seguros y Fianzas 2000-individual&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.26%-3.27%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.50%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:67.5pt;' &gt;&lt;td style='width:109.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group insurance&lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PERMF 2000&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tables of the Comisi&amp;#243;n Nacional de Seguros y Fianzas 2000-grupo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Depending on the related portfolio &lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.50%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  Provides coverage in the case of one or more of the following events: death and disability.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  Insurance policies purchased by companies (other than Group BBVA entities) on behalf of their employees.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Keyassumptionsmathematicalreserves>
  <bbva:Disclosureofcommonstockexplanatory id="ID_95" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;26.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Common stock&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018 BBVA&amp;#8217;s common stock amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;3,267,264,424.20&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; divided into &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;6,667,886,580&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;  fully subscribed and paid-up registered shares, all of the same class and series, at &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;0.49&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; par value each, represented through book-entries. All of the Bank shares carry the same voting and dividend rights, and no single stockholder enjoys special voting rights. Each and every share is part of the Bank&amp;#8217;s common stock. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Bank&amp;#8217;s shares are tra&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ded on the stock markets of Madrid, Barcelona, Bilbao and Valencia through the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-style:italic;' &gt;Sistema de Interconexi&amp;#243;n Burs&amp;#225;til Espa&amp;#241;ol (Mercado Continuo),&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; as well as on the London and Mexico stock markets. BBVA American Depositary Shares (ADSs) traded on the New York St&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ock Exchange.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Additionally, as of December 31, 2018, the shares of BBVA Banco Continental, S.A.; Banco Provincial, S.A.; BBVA Colombia, S.A.; BBVA Banco Franc&amp;#233;s, S.A. and Turkiye Garanti Bankasi A.S., were listed on their respective local stock markets. BB&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;VA Banco Franc&amp;#233;s, S.A. was also quoted in the Latin American market (Latibex) of the Madrid Stock Exchange and the New York Stock Exchange.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, State Street Bank and Trust Co., Chase Nominees Ltd and The Bank of New York Mellon SA NV i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n their capacity as international custodian/depositary banks, held &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;10.69%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;6.33%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;2.31%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of BBVA common stock, respectively. Of said positions held by the custodian banks, BBVA is not aware of any individual shareholders wi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;th direct or indirect holdings&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; greater than or equal to 3% of BBVA common stock outstanding.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;February 4, 2019, Blackrock, Inc. reported to the SEC that, as of December 31, 2018, it beneficially owned 6.6% of BBVA&amp;#8217;s common&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; stock&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA is not aware of any direct or indirect interests through which control of the Bank may be exercised. BBVA has not received any information on stockholder agreements including the regulation of the exercise of voting rights at its annual general &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;meetings or restricting or placing conditions on the free transferability of BBVA shares. No agreement is known that could give rise to changes in the control of the Bank.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The changes in the heading &amp;#8220;Paid up Capital&amp;#8221; of the accompanying consolidated balanc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e sheets are due to&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; following common stock incre&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ases:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Capital Increase&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Common Stock&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;As of December 31, 2015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,366,680,118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,120&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividend option - April 2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113,677,807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividend option - October 2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;86,257,317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;As of December 31, 2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,566,615,242&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,218&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividend option . April 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;101,271,338&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;As of December 31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,667,886,580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;As of December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,667,886,580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;&amp;#8220;Dividend Option&amp;#8221; Program in 2017:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The AGM of BBVA held on March 17, 2017 adopted, under agenda item three, a capital increase to be charged to voluntary reserves to implement&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the shareholder remuneration system called the &amp;#8220;Dividend Option&amp;#8221; this year in similar conditions to those agreed in 2014, 2015 and 2016, conferring on the Board of Directors, in accordance with article 297.1.a) of the Spanish Companies Act, the authority &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;to set the date on which the capital increase should be carried out, within one year of the date of approval of the AGM resolution.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;By virtue of such resolution, the Board of Directors of BBVA resolved, on March 29, 2017, to execute the capital increase to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; be charged to voluntary reserves, in accordance with the terms and conditions approved by the AGM mentioned above. As a result, BBVA&amp;#8217;s share capital was increased by an amount of 49,622,955.62 euros through the issuance of 101,271,338 newly-issued BBVA or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;dinary shares at 0.49 euros par value each (see Note 4).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;&amp;#8220;Dividend Option&amp;#8221; Program in 2016:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The AGM held on March 11, 2016, under agenda item three, adopted four capital increase resolutions to be charged to voluntary reserves to once again implement the s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hareholder remuneration program called the &amp;#8220;Dividend Option&amp;#8221; (see Note 4), conferring on the Board of Directors, in accordance with article 297.1 a) of the Spanish Companies Act, the authority to set the date on which said capital increases should be carri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ed out, within one year of the date of approval of the AGM resolution, including the power not to implement any of the resolutions, when deemed advisable.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On March 31, 2016, the Board of Directors of BBVA approved the execution of the first of the capital &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;increases charged to voluntary reserves, in accordance with the terms and conditions agreed by the aforementioned AGM. As a result of this increase, the Bank&amp;#8217;s capital increased by &amp;#8364;55,702,125.43 through the issuance of 113,677,807 ordinary shares at &amp;#8364;0.49&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; par values each.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On September 28, 2016, BBVA&amp;#8217;s Board of Directors approved the execution of the second of the capital increases charged to voluntary reserves in accordance with the terms and conditions agreed by the aforementioned AGM. As a result of this&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; increase, the Bank&amp;#8217;s capital increased by &amp;#8364;42,266,085.33 through the issuance of 86,257,317 ordinary shares at &amp;#8364;0.49 par value each.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Convertible and/or exchangeable securities:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The AGM held on March 17, 2017, resolved, under agenda item five, to confer a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;uthority to the Board of Directors to issue securities convertible into newly issued BBVA shares, on one or several occasions, within the maximum term of five years to be counted from the approval date of the authorization, up to a maximum overall amount o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;f &amp;#8364;8 billion or its equivalent in any other currency&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. Likewise, the AGM resolved to confer to the Board of Directors the authority to totally or partially exclude shareholders&amp;#8217; pre-emptive subscription rights within the framework of a specific issue of con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;vertible securities, although this power was limited to ensure the nominal amount of the capital increases resolved or effectively carried out to cover the conversion of mandatory convertible issuances of this authority (without prejudice to anti-dilution &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;adjustments), with exclusion of pre-emptive subscription rights and of those likewise resolved or carried out with exclusion of pre-emptive subscription rights in use of the authority to increase the share capital conferred by the AGM held on March 17, 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;7, under agenda item four, do not exceed the maximum nominal amount, overall, of 20% of the share capital of BBVA at the time of the authorization, this limit not being applicable to contingent convertible issues.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In use of the authority mentioned above, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;BBVA carried out, on May 24, 2017 the fifth issuance of perpetual contingent convertible securities (additional tier 1 instrument), with exclusion of pre-emptive subscription rights of shareholders, for a total nominal amount of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;500&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million. This issuance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; is listed in the Global Exchange Market of the Irish Stock Exchange and was targeted only at qualified investors, not being offered to, and not being subscribed for, in Spain or by Spanish residents. The issuance qualifies as additional tier 1 capital of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the Bank and the Group in accordance with Regulation EU 575/2013 (see Note 22.4).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Likewise, in use of such authority, BBVA carried out, on November 14, 2017 the sixth issuance of perpetual contingent convertible securities (additional tier 1 instrument), w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ith exclusion of pre-emptive subscription rights of shareholders, for a total nominal amount of $&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1,000&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million. This issuance is listed in the Global Exchange Market of the Irish Stock Exchange and was targeted only at qualified investors, not being offere&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;d to, and not being subscribed for, in Spain or by Spanish residents. The qualification of this issuance as additional tier 1 capital has been requested (see Note 22.4).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In past years, BBVA has carried out, in use of the authority to issue convertible secu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rities conferred by the AGM held on March 16, 2012 (in effect until March 16, 2017), four additional issuances of perpetual contingent convertible securities (additional tier 1 instrument), with exclusion of pre-emptive subscription rights of shareholders &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;(in April 2013 for an amount of $&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1.5&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; billion, in February 2014 and February 2015 for an amount of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1.5&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; billion each one, and in April 2016 for an amount of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; billion). These issuances were targeted only at qualified investors and foreign private banking c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;lients not being offered to, and not being subscribed for, in Spain or by Spanish residents. The first two issuances are listed in the Singapore Exchange Securities Trading Limited and the last two issuances are listed in the Global Exchange Market of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Irish Stock Exchange. Furthermore, these four issuances qualify as additional tier 1 capital of the Bank and the Group in accordance with Regulation UE 575/2013 (see Note 22.4).&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Convertible and/or exchangeable securities:&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA&amp;#8217;s AGM held on March 17, 2017&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; resolved, under agenda item four, to confer authority on the Board of Directors to increase Bank&amp;#8217;s share capital, on one or several occasions, subject to provisions in the law and in the Company Bylaws that may be applicable at any time, within the legal &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;term of five years of the approval date of the authorization, up to the maximum amount corresponding to 50% of Bank&amp;#8217;s share capital at the time on which the resolution was adopted, likewise conferring authority to the Board of Directors to totally or parti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ally exclude shareholders&amp;#8217; pre-emptive subscription rights over any specific issue that may be made under such authority; although the power to exclude pre-emptive subscription rights was limited, such that the nominal amount of the capital increases resol&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ved or effectively carried out with the exclusion of pre-emptive subscription rights in use of the referred authority and those that may be resolved or carried out to cover the conversion of mandatory convertible issues that may equally be made with the ex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;clusion of pre-emptive subscription rights in use of the authority to issue convertible securities conferred by the AGM held on March 17, 2017, under agenda item five (without prejudice to the anti-dilution adjustments) shall not exceed the nominal maximum&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; overall amount of 20% of the share capital of BBVA at the time of the authorization.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of the date of this document, the Bank&amp;#8217;s Board of Directors has not exercised the authority conferred by the AGM.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofcommonstockexplanatory>
  <bbva:Tableofnetdefinedbenefitliabilityassetexplanatory id="ID_96" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Net Defined Benefit Liability (asset) on the Consolidated Balance Sheet (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pension commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,678&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,969&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,277&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Early retirement commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,793&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,559&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Medical benefits commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,015&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other long term employee benefits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,647&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,920&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pension plan assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,694&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,909&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Medical benefit plan assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,113&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#FFFFFF;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,006&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,022&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total net liability / asset &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,445&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,898&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Net asset on the consolidated balance sheet  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(194)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Net liability on the consolidated balance sheet  for provisions for pensions and similar obligations (3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;4,787&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;5,407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;6,025&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Net liability on the consolidated balance sheet  for other long term employee benefits (4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  In Turkey, the foundation responsible for managing the benefit commitments holds an additional asset of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;181&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8364; million which, in accordance with IFRS regarding the asset ceiling, has not been recognized in the Consolidated Financial Statements, because &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;although it could be used to reduce future pension contributions it could not be immediately refunded to the employer.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  Recorded under the heading &amp;#8220;Other Assets - Other&amp;#8221; of the consolidated balance sheet (see Note 20).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(3)  Recorded under the heading &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;Provisions - Provisions for pensions and similar obligations&amp;#8221; of the consolidated balance sheet (see Note 24).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(4)  Recorded under the heading &amp;#8220;Provisions &amp;#8211; Other long-term employee benefits&amp;#8221; of the consolidated balance sheet.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Tableofnetdefinedbenefitliabilityassetexplanatory>
  <bbva:Disclosureofconsolidatedincomestatementimpactexplanatory id="ID_97" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Consolidated Income Statement Impact (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Interest and similar expenses &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;303&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(223)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(207)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Personnel expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;149&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Defined contribution plan expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Defined benefit plan expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Provisions (net)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;343&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;332&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Early retirement expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;236&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Past service cost expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Remeasurements &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;(*)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other provision expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total impact on Consolidated Income Statement: Debit (Credit)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;350&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;563&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;582&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Actuarial losses (gains) on remeasurement of the net defined benefit liability relating to early retirements in Spain &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and other long-term employee benefits that are charged to the income statements (see Note 2.2.12).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofconsolidatedincomestatementimpactexplanatory>
  <bbva:Disclosureofequityimpactexplanatory id="ID_98" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity Impact (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Defined benefit plans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(40)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Post-employment medical benefits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total impact on equity: Debit (Credit)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;356&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofequityimpactexplanatory>
  <bbva:Disclosureofactuarialassumptionsexplanatory id="ID_99" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:6.75pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Actuarial Assumptions (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:34.5pt;' &gt;&lt;td style='width:60pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain &lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10.45%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4.23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16.30%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.24%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9.48%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.57%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11.60%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9.95%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4.04%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11.50%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:60pt;text-align:left;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Rate of salary increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9.90%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9.30%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:60pt;text-align:left;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Rate of pension increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.51%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.13%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8.40%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.13%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7.80%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:60pt;text-align:left;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Medical cost trend rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16.70%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12.60%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10.92%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:60pt;text-align:left;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Mortality tables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;PERM/F 2000P&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;EMSSA09&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;RP 2014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;CSO2001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;PERM/F 2000P&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;EMSSA09&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;RP 2014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;CSO2001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;PERM/F 2000P&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;EMSSA97 (adjustment EMSSA09)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;RP 2014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:35.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:35.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;CSO2001&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofactuarialassumptionsexplanatory>
  <bbva:Disclosureofsharepremiumexplanatory id="ID_100" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;27.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Share premium&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, the balance under this heading in the accompanying consolidated balance sheets was &amp;#8364;23,992 million. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amended Spanish Corporation Act expressly permits the use of the share premium balance to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;increase capital and establishes no specific restrictions as to its use&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; (see Note 26).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofsharepremiumexplanatory>
  <bbva:Disclosureofsensitivityanalysis id="ID_101" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Sensitivity Analysis (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Basis points change&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:124.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:124.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:171.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Decrease&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Decrease&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:171.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(298)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;332&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(352)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Rate of salary increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Rate of pension increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Medical cost trend rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(181)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;290&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(225)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:171.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Change in obligation from each additional year of longevity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;155&lt;/font&gt;&lt;/td&gt;&lt;td style='width:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofsensitivityanalysis>
  <ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory id="ID_102" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;28.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Retained earnings, revaluation reserves and other reserves&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheet is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retained earnings, revaluation reserves and other reserves. Breakdown by concepts (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:331.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:331.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Legal reserve&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;624&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:331.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Restricted reserve&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;201&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:331.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reserves for regularizations and balance revaluations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:331.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Voluntary reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,643&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,521&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:331.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total reserves holding company &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,458&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,366&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:331.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Consolidation reserves attributed to the Bank and dependent consolidated companies.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,439&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:331.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;22,963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;21,805&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The impact of the first application of IFRS 9 and the change in accounting policies due to hyperinflation is recorded in the headi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ng &amp;quot;Consolidation reserves attributed to the Bank and dependent consolidated companies&amp;quot; of the previous table (see Notes 1.3, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;2.4 and 2.2.20).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;28.1  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Legal reserve&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Under the amended Corporations Act, 10% of any profit made each year must be transferred to the legal reserve. The transfer must be made until the legal reserve reaches 20% of the common stock.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The legal reserve can be used to increase the common stock provided that the remaining reserve balance does not fall below 10% of the increased capital. While it does not exceed 20% of the common stock, it can only be allocated to offset losses exclusively&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; in the case that there are not sufficient reserves available.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;28.2  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Restricted reserves&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, the Bank&amp;#8217;s restricted reserves are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Restricted Reserves (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Restricted reserve for retired capital&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Restricted reserve for Parent Company shares and loans for those shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Restricted reserve for redenomination of capital in euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;201&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The restricted reserve for retired capital resulted &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;from the reduction of the nominal par value of the BBVA shares made in April 2000.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The second heading corresponds to restricted reserves related to the amount of shares issued by the Bank in its possession at each date, as well as the amount of customer lo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ans outstanding at those dates that were granted for the purchase of, or are secured by, the Parent Company shares.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Finally, pursuant to Law 46/1998 on the Introduction of the Euro, a restricted reserve is recognized as a result of the rounding effect of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the redenomination of the Parent Company common stock in euros.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;28.3  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Retained earnings, revaluation reserves and other reserves by entity&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown, by company or corporate group, under the headings &amp;#8220;Retained earnings, revaluation reserves and other &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;reserves&amp;#8221; in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:480.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retained earnings, Revaluation reserves and Other reserves (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Retained earnings and Revaluation reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Holding Company &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,643&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,625&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,101&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Bancomer Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,108&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Seguros, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(127)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(62)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Corporacion General Financiera, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,084&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,187&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Provincial Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(124)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(113)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(92)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Chile Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;951&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,264&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Paraguay&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;98&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Compa&amp;#241;&amp;#237;a de Cartera e Inversiones, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Anida Grupo Inmobiliario, S.L.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;515&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;528&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Suiza, S.A. &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Continental Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;611&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Luxinvest, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;998&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;926&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;803&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Franc&amp;#233;s Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;999&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;827&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Banco Industrial De Bilbao, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gran Jorge Juan, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(30)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Portugal Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(66)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(436)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(477)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Participaciones Arenal, S.L.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(183)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(180)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Propiedad S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(503)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(431)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Anida Operaciones Singulares, S.L.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5,317)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4,881)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4,127)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Grupo BBVA USA Bancshares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(586)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(794)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,053)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti Turkiye Bankasi Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,415&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;751&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;127&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unnim Real Estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(587)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(576)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(477)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Bilbao Vizcaya Holding, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;139&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pecri Inversi&amp;#243;n S.L.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(74)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(73)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(75)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;21,864&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Metrovacesa Suelo, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(61)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(52)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;22,963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;21,805&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;For the purpose of allocating the reserves and accumulated losses to the consolidated entities and to the parent company, the transfers of reserves arising &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;from the dividends paid and transactions between these entities are taken into account in the p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;eriod in which they took place.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory>
  <bbva:Tableofdefinedbenefitplans id="ID_103" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:487.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:487.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Defined Benefits (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Plan Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Net Liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Plan Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Net Liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Plan Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Net Liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8,384&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3,006&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,378&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8,851&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3,022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,829&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;9,184&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3,124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;6,060&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;292&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;217&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;290&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;92&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(103)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(154)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Past service costs &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(263)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(286)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;331&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;359&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;      Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(286)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(161)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(274)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(274)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;220&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;220&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(979)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(200)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(779)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,029)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(169)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(861)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,052)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(169)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(883)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Settlement payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(43)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(43)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(278)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(258)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(282)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(293)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Conversions to defined contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;84&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;84&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;7,585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4,745&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8,384&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3,006&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,378&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8,851&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3,022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,829&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#666666;' &gt;Of which&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;260&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;358&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,799&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,615&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,661&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,602&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,627&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(171)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;287&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;385&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;422&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;520&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;424&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;348&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  In&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cluding gains and losses arising from settleme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nts.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Excluding interest, which is recorded under &amp;quot;Interest income or expense&amp;quot;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Tableofdefinedbenefitplans>
  <bbva:Tableofdefinedbenefitplansbygeography id="ID_104" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Post-employment commitments  2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:251.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:251.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;470&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;520&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;387&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Past service costs &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(824)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(134)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4,807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;422&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;402&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;Vested benefit obligation relating to current employees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#787878;' &gt;Vested benefit obligation relating to retired employees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,696&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Post-employment commitments  2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:251.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:251.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Plan Assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;424&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;351&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(70)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(70)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(61)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(108)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;260&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;287&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;366&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.25pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:479.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:479.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Post-employment commitments  2018 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:247.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:247.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net Liability (Asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Past service costs &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(763)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  I&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncluding gains and losses arising from settlements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Excluding interest, which is recorded&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; under &amp;quot;Interest income or expense&amp;quot;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8.25pt;' &gt;&lt;td colspan='11' rowspan='1' style='width:476.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:476.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Post-employment commitments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &gt;&lt;td style='width:108.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:183.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:183.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017: Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:183.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:183.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016: Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:108.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;6,109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(79)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;98&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Past service costs &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(67)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(842)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(867)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Settlement payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(43)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Conversions to defined contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:108.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;5,799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:36.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Includes gains and losses from settlements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Excludes interest which is reflected&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in the line item &amp;#8220;Interest income and expenses&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Tableofdefinedbenefitplansbygeography>
  <bbva:Disclosureofmedicalbenefitcommitments id="ID_105" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:487.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:487.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Medical Benefits Commitments&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:112.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:112.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:112.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:112.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:112.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:112.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:42.75pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Plan assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Plan assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Defined Benefit Obligation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Plan assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(98)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,149&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(127)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(71)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(114)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Past service costs &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(210)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;200&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(60)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0066CC;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(60)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;        From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;        From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(182)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(182)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;        Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(30)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(92)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(138)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(156)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:150pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:37.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:37.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(98)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  I&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncluding gains and losses arising from settlements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Excluding interest, which is recorded under &amp;quot;Interest incom&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e or expense&amp;quot;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofmedicalbenefitcommitments>
  <ifrs-full:DisclosureOfTreasurySharesExplanatory id="ID_106" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;29.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Treasury shares&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the years ended December 31, 2018, 2017 and 2016 the Group entities performed the following transactions with shares issued by the Bank:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Treasury Shares (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:35.1pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Millions of Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Millions of Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Millions of Euros&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;13,339,582&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;7,230,787&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;38,917,665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;309&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; + Purchases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;279,903,844&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,683&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;238,065,297&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,674&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;379,850,939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,004&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; - Sales and other changes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(245,985,735)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,505)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(231,956,502)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,622)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(411,537,817)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2,263)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; +/- Derivatives on BBVA shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; +/- Other changes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;47,257,691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;13,339,582&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;7,230,787&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;Held by BBVA, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,789,894&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;Held by Corporaci&amp;#243;n General Financiera, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;47,257,691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13,339,582&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,440,893&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Average purchase price in Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6.11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7.03&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5.27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Average selling price in Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6.25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6.99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5.50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Net gain or losses on transactions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; (Shareholders&amp;#39; funds-Reserves)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(30)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The percentages of treasury shares held by the Group in the years ended &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;December 31, 2018, 2017 and 2016 are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:479.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:479.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Treasury Stock&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:132.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:132.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:132.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:132.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:132.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:132.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Closing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Closing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Closing&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;% treasury stock&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.200%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.850%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.709%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.004%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.278%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.200%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.081%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.756%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.110%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The number of BBVA shares accepted by the Group in pledge of loans as of December 31, 2018, 2017 and 2016 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Shares of BBVA Accepted in Pledge&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Number of shares in pledge&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;61,632,832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64,633,003&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90,731,198&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Nominal value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;% of share capital&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.92%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.97%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.38%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The number of BBVA shares owned by &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;third parties but under management of a company within the Group as of December 31, 2018, 2017 and 2016 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Shares of BBVA Owned by Third Parties but Managed by the Group&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Number of shares owned by third parties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,306,229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,597,310&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;85,766,602&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Nominal value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;% of share capital&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.38%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.52%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.31%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTreasurySharesExplanatory>
  <bbva:Disclosureofestimatedbenefitpayments id="ID_107" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Estimated Benefit Payments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:140.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2024-2028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:140.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commitments in Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;684&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;611&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;419&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;333&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;965&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:140.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commitments in Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;92&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;680&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:140.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commitments in United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:140.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commitments in Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:140.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;734&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;652&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;563&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;489&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,979&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofestimatedbenefitpayments>
  <bbva:Disclosurecapitalincreaseexplanatory id="ID_108" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Capital Increase&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Common Stock&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;As of December 31, 2015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,366,680,118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,120&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividend option - April 2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113,677,807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividend option - October 2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;86,257,317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;As of December 31, 2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,566,615,242&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,218&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividend option . April 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;101,271,338&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;As of December 31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,667,886,580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;As of December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,667,886,580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurecapitalincreaseexplanatory>
  <bbva:Accumulatedothercomprehensiveincomeexplanatory id="ID_109" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;30.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Accumulated other comprehensive income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt; (loss)&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accumulated other comprehensive income (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017(*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016(*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Items that will not be reclassified to profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(1,284)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(1,183)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(1,095)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Actuarial gains or losses on defined benefit pension plans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,245)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,183)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,095)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of equity instruments measured at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13.4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(155)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.9pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of financial liabilities at fair value through profit or loss attributable to changes in their credit risk &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Items that may be reclassified to profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(5,932)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(5,755)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(2,527)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedge of net investments in foreign operations (effective portion)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(218)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(118)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Foreign currency translation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,643)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7,297)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3,349)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging derivatives. Cash flow hedges (effective portion)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets available for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13.4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;947&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of debt instruments measured at fair value through other comprehensive income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13.4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.9pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Share of other recognized income and expense of investments in subsidiaries, joint ventures and associates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(40)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(7,215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(6,939)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(3,622)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;See Note 1.3.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The balances recognized under these headings are &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;presented net of tax.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Accumulatedothercomprehensiveincomeexplanatory>
  <bbva:Disclosureretainedearningsrevaluationreservesandotherreservesbreakdownbyconceptsexplanatory id="ID_110" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:21pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retained earnings, revaluation reserves and other reserves. Breakdown by concepts (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:331.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:331.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Legal reserve&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;624&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:331.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Restricted reserve&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;201&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:331.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reserves for regularizations and balance revaluations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:331.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Voluntary reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,643&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,521&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:331.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total reserves holding company &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,458&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,366&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:331.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Consolidation reserves attributed to the Bank and dependent consolidated companies.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,439&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:331.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:331.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;22,963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;21,805&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureretainedearningsrevaluationreservesandotherreservesbreakdownbyconceptsexplanatory>
  <bbva:Disclosureretainedearningsrevaluationreservesexplanatory id="ID_111" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:480.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retained earnings, Revaluation reserves and Other reserves (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Retained earnings and Revaluation reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Holding Company &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,643&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,625&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,101&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Bancomer Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,108&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Seguros, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(127)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(62)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Corporacion General Financiera, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,084&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,187&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Provincial Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(124)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(113)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(92)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Chile Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;951&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,264&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Paraguay&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;98&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Compa&amp;#241;&amp;#237;a de Cartera e Inversiones, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Anida Grupo Inmobiliario, S.L.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;515&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;528&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Suiza, S.A. &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Continental Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;611&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Luxinvest, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;998&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;926&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;803&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Franc&amp;#233;s Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;999&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;827&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Banco Industrial De Bilbao, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gran Jorge Juan, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(30)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Portugal Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(66)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(436)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(477)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Participaciones Arenal, S.L.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(183)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(180)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Propiedad S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(503)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(431)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Anida Operaciones Singulares, S.L.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5,317)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4,881)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4,127)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Grupo BBVA USA Bancshares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(586)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(794)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,053)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti Turkiye Bankasi Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,415&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;751&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;127&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unnim Real Estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(587)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(576)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(477)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Bilbao Vizcaya Holding, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;139&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pecri Inversi&amp;#243;n S.L.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(74)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(73)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(75)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;21,864&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Metrovacesa Suelo, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(61)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(52)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;22,963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;21,805&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureretainedearningsrevaluationreservesexplanatory>
  <bbva:Disclosurerestrictedreservesexplanatory id="ID_112" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Restricted Reserves (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Restricted reserve for retired capital&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Restricted reserve for Parent Company shares and loans for those shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Restricted reserve for redenomination of capital in euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;201&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurerestrictedreservesexplanatory>
  <ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory id="ID_113" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;31.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Minority interest&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown by groups of consolidated entities of the balance under the heading &amp;#8220;Minority interests (non-controlling interest)&amp;#8221; of total equity in the accompanying consolidated balance sheets is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:432.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-Controlling Interests (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Chile Group (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;399&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;377&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Continental Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,059&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Provincial Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Franc&amp;#233;s Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;352&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;243&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,058&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,903&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,764&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,979&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,064&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; See Note 3.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These amounts are broken down by groups of consolidated entities under the heading &amp;#8220;Attributable to minority interests (non-controlling interest)&amp;#8221; in the accompanying consolidated income statements:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:432.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Profit attributable to Non-Controlling Interests (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Chile Group (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Continental Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;193&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Provincial Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Franc&amp;#233;s Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;93&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;883&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;917&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,244&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,218&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; See Note 3.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Dividends distributed to non-controlling interest of the Group during the year 2018 are: Garanti Group &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;233&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, BBVA Banco Continental Group &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;108&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, BBVA Chile Group &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;14&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, BBVA Banco Franc&amp;#233;s Group &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;13&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million and other &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Spanish entiti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;es accounted for &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;10&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory>
  <bbva:Tableoftreasurystock id="ID_114" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Treasury Shares (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:35.1pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Millions of Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Millions of Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Millions of Euros&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;13,339,582&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;7,230,787&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;38,917,665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;309&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; + Purchases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;279,903,844&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,683&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;238,065,297&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,674&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;379,850,939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,004&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; - Sales and other changes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(245,985,735)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,505)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(231,956,502)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,622)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(411,537,817)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2,263)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; +/- Derivatives on BBVA shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; +/- Other changes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;47,257,691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;13,339,582&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;7,230,787&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;Held by BBVA, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,789,894&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;Held by Corporaci&amp;#243;n General Financiera, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;47,257,691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13,339,582&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,440,893&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Average purchase price in Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6.11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7.03&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5.27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Average selling price in Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6.25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6.99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5.50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.6pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Net gain or losses on transactions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; (Shareholders&amp;#39; funds-Reserves)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(30)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoftreasurystock>
  <bbva:Tableofpercentajetreasurystock id="ID_115" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:479.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:479.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Treasury Stock&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:132.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:132.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:132.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:132.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:132.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:132.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Closing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Closing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Closing&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;% treasury stock&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.200%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.850%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.709%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.004%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.278%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.200%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.081%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.756%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.110%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofpercentajetreasurystock>
  <bbva:Sharesacceptedinpledge id="ID_116" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Shares of BBVA Accepted in Pledge&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Number of shares in pledge&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;61,632,832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64,633,003&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90,731,198&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Nominal value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;% of share capital&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.92%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.97%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.38%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sharesacceptedinpledge>
  <bbva:Sharesownedbythirdpartiesbutmanagedbythegroup id="ID_117" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Shares of BBVA Owned by Third Parties but Managed by the Group&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Number of shares owned by third parties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,306,229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,597,310&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;85,766,602&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Nominal value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.49&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;% of share capital&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.38%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.52%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.31%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sharesownedbythirdpartiesbutmanagedbythegroup>
  <bbva:Accumulatedothercomprehensiveincomeclassifiedbyconceptsexplanatory id="ID_118" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accumulated other comprehensive income (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017(*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016(*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Items that will not be reclassified to profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(1,284)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(1,183)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(1,095)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Actuarial gains or losses on defined benefit pension plans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,245)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,183)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,095)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of equity instruments measured at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13.4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(155)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.9pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of financial liabilities at fair value through profit or loss attributable to changes in their credit risk &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;Items that may be reclassified to profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(5,932)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(5,755)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(2,527)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedge of net investments in foreign operations (effective portion)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(218)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(118)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Foreign currency translation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,643)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7,297)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3,349)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Hedging derivatives. Cash flow hedges (effective portion)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Financial assets available for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13.4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;947&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Fair value changes of debt instruments measured at fair value through other comprehensive income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13.4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Non-current assets and disposal groups classified as held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.9pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Share of other recognized income and expense of investments in subsidiaries, joint ventures and associates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(40)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(7,215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(6,939)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(3,622)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;See Note 1.3.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Accumulatedothercomprehensiveincomeclassifiedbyconceptsexplanatory>
  <ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory id="ID_119" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;32. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Capital base and capital management&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;32.1  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Capital base&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, equity is calculated in accordance to the applicable regulation of each period on minimum capital base requirements &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;for Spanish credit institutions &amp;#8211;both as individual entities and as consolidated group&amp;#8211; and how to calculate them, as well as the various internal capital adequacy assessment processes they should have in place and the information they should disclose to t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he market.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The minimum capital base requirements established by the current regulation are calculated according to the Group&amp;#8217;s exposure to credit and dilution risk, counterparty and liquidity risk relating to the trading portfolio, exchange-rate risk and o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;perational risk. In addition, the Group must fulfill the risk concentration limits established in said regulation and the internal corporate governance obligations.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;At the date of preparation of these consolidated financial statements, BBVA has not receive&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;d an official communication of the ECB about the results of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-style:italic;' &gt;SREP &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;process which had been carried &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;out during the financial year 2018 and which will include requirements regarding the capital ratio (both at individual and consolidated level) applicable to BBVA and its Group as from the date indicated in that communication. As soon as this communication &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;will be available, BBVA will disclose it to the markets by means of public relevant events.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Taking into account fully application of capital buffers since January 1, 2019 and considering last capital requirement co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;municated from ECB, BBVA has to maintain &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;since January 1, 2019  i) a CET1 ratio of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;9.26%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; at consolidated level and ii) a total capital ratio of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;12.76%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; at consolidated level&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. This total consolidated capital ratio includes &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;i) the minimum common equity tier 1 capital (CET1) requirement under Pillar &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1 (4.5%); ii) the additional tier 1 capital (AT1) requirement under Pillar 1 (1.5%)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;iii) the tier 2 capital requirement under Pillar 1 (2%)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;iv) the CET1 capital requirement under Pillar 2 (1.5%)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;v) the capital conservation buffer (2.5% of CET1)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;vi) the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; Other Systemic Important Institution buffer (OSII) (0.75% of CET1); and vii) the countercyclical capital buffer (0.01% of CET1)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Group&amp;#8217;s bank capital in accordance with the aforementioned applicable regulation, considering entities scope required by t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he above regulation, as of December 31, 2018, 2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;017 and 2016 is shown below:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Eligible capital resources (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;December 2018 (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt; December 2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Capital&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,218&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Share premium&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retained earnings, revaluation reserves and other reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22,963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21,805&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other equity instruments, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Treasury shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(296)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(96)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Attributable to the parent company&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,324&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,475&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Attributable dividend&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(975)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,043)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,510)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;54,325&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;53,283&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;50,985&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Accumulated other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7,215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6,939)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,622)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-controlling interest&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,764&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,979&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,064&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Shareholders&amp;#39; equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;52,874&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;53,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;55,428&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Intangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(8,199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6,627)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5,675)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Fin. treasury shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Indirect treasury shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(108)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(134)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Deductions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(8,334)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(6,809)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(5,808)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Temporary CET 1 adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(273)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(129)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Capital gains from the Available-for-sale debt instruments portfolio&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(256)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;(402)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Capital gains from the Available-for-sale equity portfolio&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;273&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Differences from solvency and accounting level&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(176)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(189)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(120)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Equity not eligible at solvency level&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(176)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(462)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(249)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Other adjustments and deductions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(4,053)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,001)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Common Equity Tier 1 (CET 1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;40,311&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;42,341&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;47,370&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Additional Tier 1 before Regulatory Adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,634&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;6,296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;6,114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total Regulatory Adjustments of Additional Tier 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(1,657)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(3,401)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Tier 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;45,945&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;46,980&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;50,083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Tier 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;8,754&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;8,798&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;8,810&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total Capital (Total Capital=Tier 1 + Tier 2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;54,699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;55,778&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;58,893&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;border-left-style:solid;border-left-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total Minimum equity required&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;41,607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;40,370&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;37,923&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  P&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rovisional data.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Capital Base &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018 (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tier 1 (millions of euros) (a)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45,945&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,980&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50,083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exposure (millions of euros) (b)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;705,406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;700,443&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;747,216&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Leverage ratio (a)/(b) (percentage)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.51%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.71%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.70%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  P&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rovisional data&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018 Common Equity Tier 1 (CET1) phased-in ratio stood at &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;11.6%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; (in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; terms of fully loaded, CET1 stood at 11.3%)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. Excluding the effect of the phased-in calendar in minority interest and deductions that goes from 80% in 2017 to 100% in 2018, and including the positive impact of the sale of the stake in BBVA Chile (+50 bps),&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the CETI phased-in ratio has increased by +48 bps. This increase is mainly explained by the generation of profit, net of dividend payments and remunerations of AT1 instruments and dividends received by the Bank, and the stability in the level of risk weig&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hted assets (RWA).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This CET1 phased-in ratio includes the impact of the initial implementation of IFRS9. In this context, the European Commission and Parliament have established temporary arrangements that are voluntary for the institutions, adapting the i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;mpact of IFRS9 on capital ratios. BBVA has informed the supervisory board its adherence to these arrangements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, transfer of the real estate business of BBVA in Spain to Cerberus has no material impact on the ratios (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;TIER1 phased-in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; ratio stood at &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;13.2%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; as of December 31, 2018. During the year the Group has computed two new issuances of contingent convertible bonds (CoCos) as TIER1 instruments for US$1,000 million and &amp;#8364;1,000 million, respectively. In addition, the Group has no longer&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; includes a US$1,500 million issuance which &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;was early redeemed in May 2018 and announced in January 2019 its intention to exercise the early redemption of an issuance of &amp;#8364;1,500 million. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The net effect on TIER1 phased-in ratio was -15 bps&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Regarding TIER2 r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;atio, in the third quarter the Group has received authorization from the supervisor to include a subordinated issuance of US$300 million and no longer includes BBVA Chile subordinated instruments. As result of the above mentioned effects, the total capital&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; phased-in ratio stood at 15.7%.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, the Group has continued its program to meet the MREL requirements by carrying two public senior non-preferred instruments by a total amount of &amp;#8364;2.5 billion. In terms of MREL (which stands for Minimum Requiremen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t for own funds and Eligible Liabilities), BBVA has to reach, by January 1, 2020, an amount of own funds and eligible liabilities equal to 15.08% of the total liabilities and own funds of its resolution group (BBVA, S.A. and its subsidiaries from the same &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;European resolution group) as of December 31, 2016. This MREL requirement would be equal to 28.04% in terms of risk-weighted assets of the resolution group as of December 31, 2016. The Group believes that it is currently in line with this requirement.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;-weighted assets (RWA) have decreased during the year, largely due to the sale of BBVA Chile and the depreciation of currencies against euro. The Group has performed three securitizations during the year: a traditional one in June of an automobile loan por&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tfolio of consumer finance amounting to &amp;#8364;800 million, and two synthetic ones in March and December, on which the European Investment Fund (EIF, a subsidiary of the European Investment Bank) provided a financial guarantee. These three securitizations have p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;roduced a positive impact on capital of &amp;#8364;971 million via RWA release. Additionally, during the first half of the year, BBVA has received an authorization from the ECB to update the calculation of RWA on structural FX risk under the standard model.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;A recon&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ciliation of the consolidated accounting and regulatory perimeters as of December 31st 2018 is presented below (provisional data):&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:14.25pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Public balance sheet headings (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:42.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Public balance sheet&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Insurance companies and real estate companies (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Jointly-controlled entities and other adjustments (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Regulatory balance sheet&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58,196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58,296&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90,117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,277&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;91,394&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non- trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2,768)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,367&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,313)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets designated at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56,337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(14,318)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;419,660&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,279)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;593&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;413,974&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(87)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,805&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fair value changes of the hedged items in portfolio hedges of interest rate risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Investments in entities accounted for using the equity method &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(80)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,085&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non- current assets and disposal groups held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,001&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39,481&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;715&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,199&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;676,689&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(20,191)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;621&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;657,119&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Correspond to balances of entities fully consolidated in the public balance sheet but consolidate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d by the equity method in the regulatory balance sheet.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Correspond to intragroup adjustments and other consolidation adjustments.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;32.2  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Capital management&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Capital management in the BBVA Group has a twofold aim: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:4pt;margin-bottom:4pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Maintain a level of capitalization &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;according to the business objectives in all countries in which it operates and, simultaneously,&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:4pt;margin-bottom:4pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Maximize the return on shareholders&amp;#8217; funds through the efficient allocation of capital to the different units, a good management of the balance sheet and approp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;riate use of the various instruments forming the basis of the Group&amp;#8217;s equity: shares, preferred securities and subordinate debt.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This capital management is carried out determining the capital base and the solvency ratios established by the prudential and m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;inimum capital requirements also have to be met for the entities subject to prudential supervision in each country.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The current regulation allows each entity to apply its own internal ratings-based (IRB) approach to risk assessment and capital management, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;subject to Bank of Spain approval. The BBVA Group carries out an integrated management of these risks in accordance with its internal policies and its internal capital estimation model has received the Bank of Spain&amp;#8217;s approval for certain portfolios (see N&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ote 7).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory>
  <bbva:Noncontrolinginterestexplanatory id="ID_120" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:432.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-Controlling Interests (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Chile Group (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;399&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;377&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Continental Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,059&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,059&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Provincial Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Franc&amp;#233;s Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;352&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;243&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,058&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,903&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,764&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,979&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,064&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; See Note 3.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Noncontrolinginterestexplanatory>
  <bbva:Profitatributabletononcontrolinginterest id="ID_121" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:432.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Profit attributable to Non-Controlling Interests (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Chile Group (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Continental Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;193&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Provincial Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Banco Franc&amp;#233;s Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;93&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;883&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;917&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,244&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,218&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; See Note 3.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Profitatributabletononcontrolinginterest>
  <bbva:Eligiblecapitalresources id="ID_122" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Eligible capital resources (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;December 2018 (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt; December 2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Capital&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,218&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Share premium&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Retained earnings, revaluation reserves and other reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22,963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21,805&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other equity instruments, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Treasury shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(296)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(96)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Attributable to the parent company&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,324&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,475&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Attributable dividend&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(975)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,043)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,510)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;54,325&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;53,283&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;50,985&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Accumulated other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(7,215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6,939)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3,622)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-controlling interest&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,764&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,979&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,064&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Shareholders&amp;#39; equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;52,874&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;53,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;55,428&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Intangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(8,199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6,627)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5,675)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Fin. treasury shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Indirect treasury shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(108)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(134)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Deductions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(8,334)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(6,809)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(5,808)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Temporary CET 1 adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(273)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(129)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Capital gains from the Available-for-sale debt instruments portfolio&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(256)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;(402)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Capital gains from the Available-for-sale equity portfolio&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;273&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Differences from solvency and accounting level&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(176)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(189)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(120)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Equity not eligible at solvency level&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(176)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(462)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(249)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Other adjustments and deductions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(4,053)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,001)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Common Equity Tier 1 (CET 1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;40,311&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;42,341&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;47,370&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Additional Tier 1 before Regulatory Adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,634&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;6,296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;6,114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total Regulatory Adjustments of Additional Tier 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(1,657)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(3,401)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Tier 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;45,945&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;46,980&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;50,083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Tier 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;8,754&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;8,798&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;8,810&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total Capital (Total Capital=Tier 1 + Tier 2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;54,699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;55,778&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;58,893&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;border-left-style:solid;border-left-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total Minimum equity required&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;41,607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;40,370&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;37,923&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  P&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rovisional data.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Eligiblecapitalresources>
  <bbva:Tableofleverageratio id="ID_123" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Capital Base &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018 (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tier 1 (millions of euros) (a)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45,945&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,980&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50,083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exposure (millions of euros) (b)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;705,406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;700,443&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;747,216&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Leverage ratio (a)/(b) (percentage)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.51%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.71%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.70%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  P&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rovisional data&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Tableofleverageratio>
  <bbva:Regulatorybalancereconcilitation id="ID_124" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:14.25pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Public balance sheet headings (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:42.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Public balance sheet&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Insurance companies and real estate companies (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Jointly-controlled entities and other adjustments (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Regulatory balance sheet&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58,196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58,296&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90,117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,277&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;91,394&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non- trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2,768)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,367&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,313)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets designated at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56,337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(14,318)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;419,660&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,279)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;593&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;413,974&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(87)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,805&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fair value changes of the hedged items in portfolio hedges of interest rate risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Investments in entities accounted for using the equity method &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,587&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(80)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,085&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non- current assets and disposal groups held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,001&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39,481&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;715&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,199&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;676,689&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(20,191)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;621&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;657,119&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Correspond to balances of entities fully consolidated in the public balance sheet but consolidate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d by the equity method in the regulatory balance sheet.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Correspond to intragroup adjustments and other consolidation adjustments.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Regulatorybalancereconcilitation>
  <bbva:Loancommitmentsfinancialguaranteesandothercommitments id="ID_125" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loan commitments, financial guarantees and other commitments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Loan commitments given&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;118,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;94,268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;107,254&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: defaulted&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;247&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;537&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;411&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;4,354&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;9,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;946&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;5,664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;3,795&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;4,155&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;58,405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;58,133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;71,710&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;42,936&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;29,195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;25,824&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Financial guarantees given (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;16,454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;16,545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;18,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: defaulted&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;332&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;278&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;278&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,274&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,553&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;3,105&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;722&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;13,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;11,518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;15,354&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;534&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other commitments and guarantees given &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;35,098&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;45,738&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;42,592&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: defaulted&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;408&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;461&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;402&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;372&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;5,875&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;15,330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;9,880&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,990&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;3,820&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;4,892&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;25,723&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;25,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;27,297&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Loan commitments and financial guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;170,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;156,551&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;168,113&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  N&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on performing financial guarantees given amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;740&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;739&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;680&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million, respectively, as of December 31, 2018, December 31, 2017, and December 31, 2016, respectively.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Loancommitmentsfinancialguaranteesandothercommitments>
  <bbva:Purchaseandsalecommitments id="ID_126" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Purchase and Sale Commitments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Financial instruments sold with repurchase commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;42,993&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,077&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;46,562&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Credit Institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,839&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,466&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,077&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,562&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,155&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,649&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Credit Institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,593&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,421&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,491&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Financial instruments purchased with resale commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,034&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,368&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;22,921&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,262&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Credit Institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at amortized cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,368&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,921&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Credit Institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,861&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,561&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,279&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Purchaseandsalecommitments>
  <bbva:Maturityoffuturepaymentobligations id="ID_127" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.25pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Maturity of Future Payment Obligations (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Up to 1 Year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 3 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Over 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Operating leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;251&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;253&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,879&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,937&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Purchase commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Technology and systems projects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other projects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;253&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,879&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,965&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Maturityoffuturepaymentobligations>
  <bbva:Tableoftransactionsonbehalfofthirdparties id="ID_128" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:10.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transactions on Behalf of Third Parties (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial instruments entrusted to BBVA by third parties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;628,417&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;624,822&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;637,761&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Conditional bills and other securities received for collection&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,775&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,054&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securities lending&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,866&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,485&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,968&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;646,768&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;645,081&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;657,783&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoftransactionsonbehalfofthirdparties>
  <ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory id="ID_129" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;33.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Commitments and guarantees given&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under these headings in the accompanying consolidated balance sheets is as follows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loan commitments, financial guarantees and other commitments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Loan commitments given&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;118,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;94,268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;107,254&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: defaulted&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;247&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;537&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;411&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;4,354&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;9,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;946&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;5,664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;3,795&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;4,155&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;58,405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;58,133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;71,710&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;42,936&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;29,195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;25,824&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Financial guarantees given (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;16,454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;16,545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;18,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: defaulted&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;332&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;278&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;278&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,274&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,553&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;3,105&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;722&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;13,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;11,518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;15,354&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;534&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other commitments and guarantees given &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;35,098&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;45,738&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;42,592&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;of which: defaulted&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;408&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;461&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;402&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;372&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;5,875&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;15,330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;9,880&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,990&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;3,820&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;4,892&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;25,723&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;25,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;27,297&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Loan commitments and financial guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;170,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;156,551&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;168,113&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  N&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on performing financial guarantees given amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;740&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;739&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;680&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million, respectively, as of December 31, 2018, December 31, 2017, and December 31, 2016, respectively.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s of December 31, 2018, the provisions for loan commitments given, financial guarantees given and other commitments and guarantees given, recorded&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; in the consolidated balance sheet amounted &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;338&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;252&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;45&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, respectively.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Since a significant portion of the amounts above will expire without any payment being made by the consolidated entities, the aggregate balance of these&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; commitments cannot be considered the actual future requirement for financing or liquidity to be provided by the BBVA Group to third parties.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the years 2018, 2017 and 2016, no issuance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of debt securities carried out by associates of the BBVA Group, joint venture entities or non-Group entities have been guaranteed.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory>
  <bbva:Customerfundsbytype id="ID_130" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:10.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer Funds by Type (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Asset management by type of customer (*):&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Collective investment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;61,393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60,939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55,037&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pension funds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,985&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,418&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer portfolios managed &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29,953&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,901&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,805&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Portfolios managed on a discretionary basis&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;23,657&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;19,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;18,165&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other resources&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,949&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,081&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,831&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Customer resources distributed but not managed by type of product:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Collective investment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,695&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Insurance products&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;131,603&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;138,347&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;135,824&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  E&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;xcludes balances from securitization funds.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Customerfundsbytype>
  <bbva:Disclosureofothercontingentassetsandliabilitiesexplanatory id="ID_131" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;34.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Other contingent assets and liabilities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13,8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016 there were no material contingent assets or liabilities other than those disclosed in the accompanying notes to the consolidated financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;statements.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofothercontingentassetsandliabilitiesexplanatory>
  <bbva:Disclosureavailableamountforinterimdividedpaymentsexplanatory id="ID_132" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Available Amount for Interim Dividend Payments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;August, 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Profit  of BBVA, S.A., after the provision for income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,462&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:432.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Additional Tier I capital instruments remuneration&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;236&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Maximum amount distributable&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;2,226&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Amount of proposed interim dividend&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;667&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;BBVA cash balance available to the date&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;4,577&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureavailableamountforinterimdividedpaymentsexplanatory>
  <ifrs-full:DisclosureOfRepurchaseAndReverseRepurchaseAgreementsExplanatory id="ID_133" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;35. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Purchase and sale commitments and future payment obligations&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of purchase and sale commitments of the BBVA Group as of December 31, 2018, 2017 and 2016 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Purchase and Sale Commitments (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Financial instruments sold with repurchase commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;42,993&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,077&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;46,562&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Credit Institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,839&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,466&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,077&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,562&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,155&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,649&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Credit Institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,593&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,421&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,491&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Financial instruments purchased with resale commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,034&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,368&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;22,921&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,262&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Credit Institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at amortized cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,368&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,921&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Credit Institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,861&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,561&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,279&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;A breakdown of the maturity of other payment &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;obligations, not included in previous notes, due after December 31, 2018 is provided below:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.25pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Maturity of Future Payment Obligations (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Up to 1 Year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;1 to 3 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3 to 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Over 5 Years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Operating leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;251&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;253&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,879&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,937&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Purchase commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:231.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Technology and systems projects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:231.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other projects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:231.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:231.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;253&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,879&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,965&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfRepurchaseAndReverseRepurchaseAgreementsExplanatory>
  <bbva:Transactionsonbehalfofthirdpartiesexplanatory id="ID_134" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;36.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Transactions on behalf of third parties&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016 the details of the most transactions on behalf of third parties are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:10.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transactions on Behalf of Third Parties (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial instruments entrusted to BBVA by third parties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;628,417&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;624,822&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;637,761&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Conditional bills and other securities received for collection&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,775&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,054&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securities lending&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,866&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,485&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,968&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;646,768&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;645,081&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;657,783&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016 the customer funds managed &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;by the BBVA Group are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:10.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer Funds by Type (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Asset management by type of customer (*):&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Collective investment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;61,393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60,939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55,037&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pension funds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,807&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,985&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,418&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer portfolios managed &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29,953&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,901&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,805&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Portfolios managed on a discretionary basis&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;23,657&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;19,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;18,165&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other resources&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,949&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,081&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,831&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Customer resources distributed but not managed by type of product:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Collective investment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,695&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Insurance products&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;131,603&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;138,347&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;135,824&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  E&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;xcludes balances from securitization funds.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Transactionsonbehalfofthirdpartiesexplanatory>
  <bbva:Financialassetsandliabilitiesheldfortrading id="ID_135" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:486pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:486pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial Assets and Liabilities Held-for-Trading (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30,536&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,955&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,577&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,166&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,750&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,675&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total  Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;90,117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;64,695&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;74,950&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#121212;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43,118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Short positions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,025&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,013&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,556&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,934&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total  Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;80,774&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;46,182&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;54,675&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialassetsandliabilitiesheldfortrading>
  <ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory id="ID_136" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;37. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Net interest income&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;37.1  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Interest income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt; and other income&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the interest income and other income recognized in the accompanying consolidated income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000080;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;statement is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest income and other income. Breakdown by Origin (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;482&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;458&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;410&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;217&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,831&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,608&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,395&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,128&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,014&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other portfolios&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Adjustments of income as a result of hedging transactions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(201)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;427&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(385)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Cash flow hedges (effective portion)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Fair value hedges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(198)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;412&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(397)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Insurance activity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,058&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,219&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;722&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;487&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;692&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;55.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;29,831&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;29,296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;27,708&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Financial assets at fair value through other comprehensive income &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,962&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;24,668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;23,803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;24,578&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;3,531&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;3,130&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amounts recognized in consolidated equity in connection with hedging derivatives and the amounts derecognized from consolidated equity and taken to the consolidated income statement during the years are given in the accompanying &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#8220;Consolidated statements of recognized income and expenses&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;37.2  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Interest expense&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated income statements is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest Expenses. Breakdown by Origin (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;80&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;192&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,367&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customers deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,814&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,766&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,936&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,930&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,323&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Adjustments of expenses as a result of hedging transactions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(323)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(574)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Cash flow hedges (effective portion)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Fair value hedges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(368)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;627&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(616)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cost attributable to pension funds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Insurance activity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;846&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,274&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;316&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;634&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;11,537&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;10,648&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;37.3  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Average&lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt; return on investments and average borrowing cost&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The detail of the average return on investments in the years ended December 31, 2018, 2017 and 2016 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:477pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:477pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Assets (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:39pt;' &gt;&lt;td style='width:119.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Balances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Interest Rates (%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Balances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Interest Rates (%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Balances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Interest Rates (%)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Cash and balances with central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;42,730 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;135 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.32 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33,917 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;83 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.25 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26,209 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.04 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Securities portfolio and derivatives &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;179,672 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,707 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.18 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;177,164 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,724 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.67 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;202,388 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,072 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.51 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,518 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;258 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4.67 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10,945 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;258 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.36 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15,326 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;229 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.50 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25,634 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;657 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.56 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26,420 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;485 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.83 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28,078 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;218 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.78 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;378,996 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22,804 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6.02 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;407,153 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,261 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5.71 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;410,895 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21,853 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5.32 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;181,668 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,381 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.86 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;196,893 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,449 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.75 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;201,967 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,750 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.86 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Foreign currency&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;197,328 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19,423 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9.84 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;210,261 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19,812 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9.42 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;208,928 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;18,104 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8.67 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46,343 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;270 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.58 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;48,872 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;485 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.99 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;52,748 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;325 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.62 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;678,893&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;29,831&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;704,471&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;29,296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;735,645&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;27,708&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3.77&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The average borrowing cost in the years ended December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;2018, 2017 and 2016 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:477pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:477pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Liabilities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:119.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Balances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Interest Rates (%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Balances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Interest Rates (%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Balances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Interest Rates (%)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Deposits from central banks and credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;65,044 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,192 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.37 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;90,619 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,212 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.44 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;101,975 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,866 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.83 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;370,078 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,559 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.77 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;392,057 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,007 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.79 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;398,851 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,944 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.49 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;  Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;178,370 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;337 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.19 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;186,261 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;461 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.25 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;195,310 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;766 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.39 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;  Foreign currency&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;191,709 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,222 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.25 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;205,796 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,546 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.18 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;203,541 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,178 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.54 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;75,927 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,753 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.31 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;84,221 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,631 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.94 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;89,876 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,738 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.93 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;115,638 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,735 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.50 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;82,699 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;687 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.83 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;89,328 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,101 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.23 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;52,206 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;54,874 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;55,616 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;678,893&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;12,239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1.80&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;704,471&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;11,537&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1.64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;735,645&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;10,648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1.45&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The change in the balance under the headings &amp;#8220;Interest income and other income&amp;#8221; and &amp;#8220;Interest expense&amp;#8221; in the accompanying consolidated income statements is the result of exchange rate effect,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; changing prices (price effect) and changing volume of activity (volume effect), as can be seen below:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest Income and Expenses : Change in the Balance (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:150.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018 / 2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:150.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017 / 2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Volume Effect (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Price &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Effect  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total Effect&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Volume Effect (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Price &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Effect  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total Effect&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash and balances with central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;71 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securities portfolio and derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;916 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;983 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(632)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;285 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(347)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(128)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;128 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(66)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;94 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;187 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;172 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;279 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;266 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,609)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,152 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(456)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,606 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,408 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(267)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;199 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(68)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(94)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(206)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(301)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; Foreign currencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,219)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;830 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(389)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;115 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,593 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,708 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(190)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;184 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;160 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;535 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;1,588 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from central banks and credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(624)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;604 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(208)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;554 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;346 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer deposits &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(393)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(55)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(448)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,164 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,063 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(104)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(124)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(269)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(305)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; Foreign currencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(448)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;124 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(324)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;57 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,311 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,368 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities issued&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(161)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;282 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(109)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(106)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;274 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;774 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,048 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(332)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(414)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Interest expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;702 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;889 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Net Interest Income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(167)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;699 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he volume effect is calculated as the result of the interest rate of the initial period multiplied by the difference &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;between the average balances of both periods.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The price effect is calculated as the result of the average balance of the last period multiplied by the difference between the interest rates of both periods.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory>
  <bbva:Interestincomebreakdownbyorigin id="ID_137" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest income and other income. Breakdown by Origin (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;482&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;458&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;410&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;217&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,831&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,608&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,395&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,128&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,014&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other portfolios&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Adjustments of income as a result of hedging transactions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(201)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;427&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(385)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Cash flow hedges (effective portion)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Fair value hedges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(198)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;412&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(397)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Insurance activity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,058&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,219&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;722&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;487&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;692&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;55.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;29,831&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;29,296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;27,708&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Financial assets at fair value through other comprehensive income &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;1,962&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;24,668&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;23,803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;24,578&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;3,531&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;3,130&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Interestincomebreakdownbyorigin>
  <bbva:Interestexpensesbreakdownbyorigin id="ID_138" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest Expenses. Breakdown by Origin (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;80&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;192&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,367&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customers deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,814&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,766&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,936&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,930&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,323&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Adjustments of expenses as a result of hedging transactions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(323)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(574)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Cash flow hedges (effective portion)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Fair value hedges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(368)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;627&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(616)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cost attributable to pension funds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Insurance activity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;846&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,274&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;316&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;634&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;11,537&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;10,648&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Interestexpensesbreakdownbyorigin>
  <bbva:Averagereturnoninvestmentsandaverageborrowingcostassets id="ID_139" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:477pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:477pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Assets (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:39pt;' &gt;&lt;td style='width:119.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Balances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Interest Rates (%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Balances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Interest Rates (%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Balances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Interest Rates (%)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Cash and balances with central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;42,730 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;135 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.32 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33,917 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;83 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.25 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26,209 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.04 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Securities portfolio and derivatives &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;179,672 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,707 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.18 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;177,164 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,724 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.67 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;202,388 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,072 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.51 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,518 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;258 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4.67 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10,945 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;258 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.36 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15,326 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;229 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.50 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25,634 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;657 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.56 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26,420 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;485 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.83 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28,078 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;218 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.78 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;378,996 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22,804 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6.02 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;407,153 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,261 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5.71 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;410,895 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21,853 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5.32 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;181,668 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,381 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.86 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;196,893 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,449 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.75 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;201,967 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,750 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.86 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Foreign currency&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;197,328 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19,423 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9.84 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;210,261 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19,812 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9.42 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;208,928 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;18,104 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8.67 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;46,343 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;270 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.58 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;48,872 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;485 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.99 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;52,748 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;325 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.62 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;678,893&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;29,831&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;704,471&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;29,296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4.16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;735,645&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;27,708&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3.77&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Averagereturnoninvestmentsandaverageborrowingcostassets>
  <bbva:Averagereturnoninvestmentsandaverageborrowingcostliabilities id="ID_140" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:477pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:477pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Liabilities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:119.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Balances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Interest Rates (%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Balances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Interest Rates (%)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Balances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Average Interest Rates (%)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Deposits from central banks and credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;65,044 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,192 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.37 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;90,619 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,212 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.44 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;101,975 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,866 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.83 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;370,078 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,559 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.77 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;392,057 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,007 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.79 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;398,851 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,944 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.49 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;  Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;178,370 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;337 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.19 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;186,261 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;461 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.25 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;195,310 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;766 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.39 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;  Foreign currency&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;191,709 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,222 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.25 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;205,796 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,546 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.18 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;203,541 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,178 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.54 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;75,927 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,753 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2.31 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;84,221 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,631 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.94 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;89,876 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,738 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.93 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;115,638 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,735 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.50 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;82,699 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;687 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.83 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;89,328 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,101 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.23 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;52,206 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;54,874 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;55,616 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;678,893&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;12,239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1.80&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;704,471&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;11,537&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1.64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;735,645&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;10,648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1.45&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Averagereturnoninvestmentsandaverageborrowingcostliabilities>
  <bbva:Interestincomeandexpenseschangeinthebalance id="ID_141" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest Income and Expenses : Change in the Balance (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:150.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018 / 2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:150.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017 / 2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Volume Effect (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Price &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Effect  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total Effect&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Volume Effect (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Price &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Effect  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Total Effect&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash and balances with central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;71 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securities portfolio and derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;916 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;983 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(632)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;285 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(347)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(128)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;128 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(66)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;94 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;187 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;172 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;279 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;266 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,609)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,152 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(456)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,606 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,408 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(267)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;199 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(68)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(94)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(206)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(301)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; Foreign currencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,219)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;830 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(389)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;115 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,593 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,708 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(190)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;184 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;160 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;535 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;1,588 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from central banks and credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(624)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;604 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(208)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;554 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;346 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer deposits &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(393)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(55)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(448)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,164 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,063 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(104)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(124)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(269)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(305)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; Foreign currencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(448)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;124 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(324)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;57 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,311 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,368 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities issued&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(161)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;282 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(109)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(106)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;274 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;774 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,048 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(332)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(414)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Interest expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;702 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;889 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Net Interest Income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;(167)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;699 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he volume effect is calculated as the result of the interest rate of the initial period multiplied by the difference &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;between the average balances of both periods.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The price effect is calculated as the result of the average balance of the last period multiplied by the difference between the interest rates of both periods.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Interestincomeandexpenseschangeinthebalance>
  <ifrs-full:DisclosureOfDividendsExplanatory id="ID_142" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;38.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Dividend income&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The balances for this heading in the accompanying consolidated income statements correspond to dividends on shares and equity instruments other than those from shares in entities accounted for using the equity method (see &lt;/font&gt;&lt;font style='font-family:BBVABentonSansLight;font-size:10pt;' &gt; HYPERLINK \l &amp;quot;Nota_41&amp;quot; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Note 3&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;9&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;), as can be seen in the breakdown below:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.45pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:481.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:481.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividend Income (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividends from:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Financial assets held for trading and financial assets at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:333pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;307&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;334&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;467&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDividendsExplanatory>
  <bbva:Tableofdividendincomeexplanatory id="ID_143" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.45pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:481.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:481.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividend Income (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividends from:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Financial assets held for trading and financial assets at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:333pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;307&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;334&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;467&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofdividendincomeexplanatory>
  <bbva:DisclosureFeeAndCommissionIncomeExplanatory id="ID_144" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:480.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fee and Commission Income (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Bills receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Demand accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;507&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;469&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit and debit cards&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,900&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,834&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,679&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Checks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;207&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers and other payment orders&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;605&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;601&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;578&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Insurance product commissions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;178&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commitment fees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Contingent risks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;390&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;406&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Asset Management&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;923&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;839&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securities fees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;325&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;385&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Custody securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other fees and commissions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;689&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;700&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;701&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,804&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:DisclosureFeeAndCommissionIncomeExplanatory>
  <ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory id="ID_145" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;39.  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Share of profit or loss of entities accounted for using the equity method&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Net income from &amp;#8220;Investments in Entities Accounted for Using the Equity Method&amp;#8221; resulted in a negative &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;impact of &amp;#8364;7 million as of December 31, 2018, compared with the positive impact of &amp;#8364;4  and &amp;#8364;25 million recorded as of December 31, 2017 and 2016, respectively.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory>
  <bbva:DisclosureFeeAndCommissionExpenseExplanatory id="ID_146" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fee and Commission Expense (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit and debit cards&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,502&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,458&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,334&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers and other payment orders&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;102&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commissions for selling insurance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other fees and commissions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;610&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;587&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,253&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,086&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:DisclosureFeeAndCommissionExpenseExplanatory>
  <ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory id="ID_147" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;40.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Fee and commission income and expense&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under these heading in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the accompanying consolidated income statements is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:480.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fee and Commission Income (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Bills receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Demand accounts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;507&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;469&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit and debit cards&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,900&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,834&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,679&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Checks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;207&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers and other payment orders&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;605&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;601&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;578&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Insurance product commissions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;178&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commitment fees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Contingent risks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;390&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;406&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Asset Management&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;923&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;839&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securities fees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;325&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;385&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Custody securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other fees and commissions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;689&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;700&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;701&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,804&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdow&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of fee and commission expense under these heading in the accompanying consolidated income statements is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fee and Commission Expense (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit and debit cards&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,502&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,458&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,334&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers and other payment orders&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;102&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commissions for selling insurance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other fees and commissions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;610&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;587&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,253&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,086&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory>
  <bbva:Gainsorlossesonfinancialassetsandliabilitiesandexchangedifferencesbreakdownbyheadingotheconsolidatedincomestatements id="ID_148" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:14.25pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:503.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:503.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) on financial assets and liabilities and exchange differences: Breakdown by Heading of the Consolidated Income Statements (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains or losses on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;985&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,375&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other financial assets and liabilities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;852&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,281&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains or losses on financial assets and liabilities held for trading, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;218&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other gains or (-) losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other gains or (-) losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains or losses on financial assets and liabilities designated at fair value through profit or loss, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains or losses from hedge accounting, net &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(209)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(76)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal Gains or (losses) on financial assets and liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;938&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,661&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange Differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,030&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;472&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,968&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,133&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Gainsorlossesonfinancialassetsandliabilitiesandexchangedifferencesbreakdownbyheadingotheconsolidatedincomestatements>
  <bbva:Disclosureofgainsorlossesonfinancialassetsandliabilitiesandexchangedifferenecesexplanatory id="ID_149" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;41.  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Gains (losses) on financial assets and liabilities, net and Exchange differences&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading, by source of the related items, in the accompanying consolidated income statement is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:14.25pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:503.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:503.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) on financial assets and liabilities and exchange differences: Breakdown by Heading of the Consolidated Income Statements (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains or losses on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;985&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,375&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other financial assets and liabilities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;852&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,281&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains or losses on financial assets and liabilities held for trading, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;218&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other gains or (-) losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other gains or (-) losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains or losses on financial assets and liabilities designated at fair value through profit or loss, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains or losses from hedge accounting, net &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(209)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(76)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal Gains or (losses) on financial assets and liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;938&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,661&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange Differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,030&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;472&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,968&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:57pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,133&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance (excluding exchange rate differences) under this heading in the accompanying income statements by the nature of financial instruments is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) on financial assets and liabilities: Breakdown by nature of the Financial Instrument (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;906&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(253)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;845&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(172)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading derivatives and hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(470)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(96)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;137&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,233&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;938&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,661&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance of the impact of the de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rivatives (trading and hedging) under this heading in the accompanying consolidated income statements is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives - Hedge accounting (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest rate agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;165&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;431&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securities agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(139)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commodity agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit derivative agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(109)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(564)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(118)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreign-exchange agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;186&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(137)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(371)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(261)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;185&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Hedging Derivatives Ineffectiveness&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fair value hedges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(177)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(76)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Hedging derivative&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(150)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(236)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(330)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Hedged item&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;254&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash flow hedges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(209)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(76)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(470)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, in the years ended December 31, 2018, 2017 and 2016, under the heading &amp;#8220;Gains or losses on financial&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; assets and liabilities held for trading, net&amp;#8221; of the consolidated income statement, net amounts of negative &amp;#8364;113 million, positive &amp;#8364;235 million and positive &amp;#8364;151 million, respectively, were recognized for transactions with foreign exchange trading derivat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ives.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofgainsorlossesonfinancialassetsandliabilitiesandexchangedifferenecesexplanatory>
  <bbva:Gainsorlossesonfinancialassetsandliabilitiesandexchangedifferencesbreakdownbynatureofthefinancialinstrument id="ID_150" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) on financial assets and liabilities: Breakdown by nature of the Financial Instrument (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;906&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(253)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;845&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(172)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading derivatives and hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(470)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(96)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;137&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,233&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;938&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,661&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Gainsorlossesonfinancialassetsandliabilitiesandexchangedifferencesbreakdownbynatureofthefinancialinstrument>
  <bbva:Derivativeshedgeaccountingincome id="ID_151" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives - Hedge accounting (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest rate agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;165&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;431&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Securities agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(139)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commodity agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit derivative agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(109)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(564)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(118)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreign-exchange agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;186&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(137)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(371)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(261)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;185&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Hedging Derivatives Ineffectiveness&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fair value hedges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(177)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(76)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Hedging derivative&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(150)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(236)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(330)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Hedged item&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;254&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash flow hedges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(209)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(76)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(470)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Derivativeshedgeaccountingincome>
  <ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory id="ID_152" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;42.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Other operating income and expense&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under the heading &amp;#8220;Other operating income&amp;#8221; in the accompanying consolidated income statements is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.6pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other operating income (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:42.75pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains from sales of non-financial services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;458&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;882&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Real estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;283&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;884&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;588&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;491&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;390&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:333pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: net profit from building leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;949&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,439&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,272&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;heading &amp;#8220;Other operating expense&amp;#8221; in the accompanying consolidated income statements is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other operating expense (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Change in inventories&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;292&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;886&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;617&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of Which: Real estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;816&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,808&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,128&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory>
  <bbva:OtherOperatingIncomeExplanatory id="ID_153" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.6pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other operating income (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:42.75pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains from sales of non-financial services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;458&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;882&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Real estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;283&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;884&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;588&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:333pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;491&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;390&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:333pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: net profit from building leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:333pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:333pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;949&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,439&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,272&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:OtherOperatingIncomeExplanatory>
  <bbva:OtherOperatingExpenseExplanatory id="ID_154" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other operating expense (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Change in inventories&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;292&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;886&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;617&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of Which: Real estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;816&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,808&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,128&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:OtherOperatingExpenseExplanatory>
  <bbva:DisclosureOfInsuranceandreinsurancecontractsincomeandexpensesexplanatory id="ID_155" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;43. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Income and expense from insurance and reinsurance contracts&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The detail of the headings &amp;#8220;Income and expense from insurance and reinsurance contracts&amp;#8221; in the accompanying consolidated income statements is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other operating income and expense on insurance and reinsurance contracts (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income on insurance and reinsurance contracts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,949&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,342&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,652&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Expenses on insurance and reinsurance contracts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,894)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2,272)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2,545)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,055&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,069&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,107&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The table below shows the contribution of each insurance product to the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Group&amp;#180;s income for the years ended December 31, 2018, 2017 and 2016:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income by type of insurance product (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Life insurance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;604&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;634&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Individual&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;486&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;346&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;268&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;430&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;308&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;238&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Group insurance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;366&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;357&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-Life insurance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;464&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;474&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Home insurance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;131&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other non-life insurance products&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;346&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;342&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,055&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,069&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,107&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:DisclosureOfInsuranceandreinsurancecontractsincomeandexpensesexplanatory>
  <bbva:Tableofinsuranceandreinsurancecontractsincomeandexpensesexplanatory id="ID_156" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other operating income and expense on insurance and reinsurance contracts (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income on insurance and reinsurance contracts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,949&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,342&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,652&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Expenses on insurance and reinsurance contracts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,894)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2,272)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2,545)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,055&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,069&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,107&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofinsuranceandreinsurancecontractsincomeandexpensesexplanatory>
  <bbva:Incomebytypeofinsuranceproduct id="ID_157" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income by type of insurance product (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Life insurance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;604&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;634&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Individual&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;486&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;346&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;268&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;430&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;308&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;238&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Group insurance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;366&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;357&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-Life insurance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;464&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;474&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Home insurance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;131&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other non-life insurance products&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;346&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;342&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,055&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,069&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,107&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Incomebytypeofinsuranceproduct>
  <bbva:Personnelexpensesexplanatory id="ID_158" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;44.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Administration costs&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;44.1 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Personnel expenses&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the average number of employees in the BBVA Group in the year ended December 31, 2018, 2017 and 2016 by professional categories and geographical areas is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Personnel Expenses (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Wages and salaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,786&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Social security costs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;722&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;761&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;784&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Defined contribution plan expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Defined benefit plan expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other personnel expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;465&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;497&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;516&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,571&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,722&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated income statements is as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.45pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Average Number of Employees&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Spanish banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Management Team&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,047 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,026 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,044 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other line personnel&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,840 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,180 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,211 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Clerical staff&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,818 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,060 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,730 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Branches abroad&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;589 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;603 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;718 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,869&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,703&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Companies abroad&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,655 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30,664 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30,378 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,786 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,532 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,710 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,322 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,154 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,900 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Venezuela&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,631 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,379 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,097 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Argentina&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,074 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,173 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,041 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Colombia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,185 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,374 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,714 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Peru&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,879 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,571 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,455 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,767 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,501 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,037 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;88,299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;90,348&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;91,332&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Pension fund managers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;395 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;362 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;335 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other non-banking companies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,349 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,925 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;16,307 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;129,336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;132,504&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;136,677&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;  Men&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;59,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;60,730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;62,738&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt; Women&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;69,790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;71,774&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;73,939&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt; BBVA, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;26,294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;26,869&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;25,979&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the number of employees in the BBVA Group as of December 31, 2018, 2017 and 2016 by category and gender is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Number of Employees at the period end. Professional Category and Gender&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Male&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Female&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Male&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Female&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Male&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Female&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Management Team&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,197&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,244&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;342&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,331&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;350&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other line personnel&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,461&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,918&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,670&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39,191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,514&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39,213&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Clerical staff&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,397&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,639&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,318&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;57,973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;67,654&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;60,553&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;71,303&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;61,911&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;72,881&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:2pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:12pt;margin-left:0pt;color:#1F4D78;' &gt;44.1.1 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:12pt;color:#1F4D78;' &gt;Share-based employee remuneration&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amounts recognized under the heading &amp;#8220;Administration costs - Personnel expenses - Other personnel expenses&amp;#8221; in the consolidated income statements for the year ended December 31, 2018, 2017 and 2016, corresponding  to the remuneration plans based on equ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ity instruments in each year, amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;29&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;38&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;57&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; million, respectively. These amounts have been recognized with a corresponding entry under the heading &amp;#8220;Shareholders&amp;#8217; funds - Other equity instruments&amp;#8221; in the accompanying consolida&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ted balance sheets, net of tax effect.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The characteristics of the Group&amp;#39;s remuneration plans based on equity instruments are described below.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA5;' &gt;System of Variable Remuneration in Shares &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In BBVA, the annual variable remuneration applying generally to all employees consists of one incentive, to be paid in cash, awarded once a year and linked to the achievement of predetermined objectives and to a sound risk management (hereinafter, the &amp;#8220;Ann&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ual Variable Remuneration&amp;#8221;).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;According to the remuneration policy for BBVA Group, in force since 2017, the specific settlement and payment system for the Annual Variable Remuneration applicable to those employees and senior managers whose professional acti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;vities have a significant impact on the Group&amp;#8217;s risk profile including the executive directors and members of BBVA Senior Management (hereinafter, the &amp;quot;Identified Staff&amp;quot;), which includes, among others, the payment in shares of part of their Annual Variable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; Remuneration. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This remuneration policy was approved, with respect to BBVA directors, by the Board of Directors held on February 9, 2017, and by the Annual General Shareholders&amp;#8217; Meeting held on March 17, 2017.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This remuneration policy includes a specific &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;settlement and payment system of the Annual Variable Remuneration applicable to the Identified Staff, including directors and senior management, under the following rules, among others: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;A significant percentage of variable remuneration &amp;#8211; 60% in the case o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;f executive directors, Senior Management and those Identified Staff members with particularly high variable remuneration, and 40% for the rest of the Identified Staff&amp;#8211; shall be deferred over a five-year period, in the case of executive directors and Senior&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; Management, and over a three-year period, for the remaining Identified Staff.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;50% of the variable remuneration of each year (including both upfront and deferred portions), shall be established in BBVA shares, albeit a larger proportion (60%) in shares sha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ll be deferred in the case of executive directors and Senior Management.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The variable remuneration will be subject to ex ante adjustments, so that it will not be accrued, or will be accrued in a reduced amount, should a certain level of profit or capital r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;atio not be obtained. Likewise, the Annual Variable Remuneration will be reduced upon performance assessment in the event of negative evolution of the Bank&amp;#8217;s results or other parameters such as the level of a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;chievement of budgeted targets.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;he deferred co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;mponent of the variable remuneration (in shares and in cash) may be reduced in its entirety, yet not increased, based on the result of multi-year performance indicators aligned with the Bank&amp;#8217;s fundamental risk management and control metrics, related to the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; solvency, capital, liquidity, funding or profitability, or to the share performance and recurring results of the Group. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;During the entire deferral period (5 or 3 years, as applicable) and retention period, variable remuneration shall be subject to malus&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; and clawback arrangements, both linked to a downturn in financial performance of the Bank, specific unit or area, or individual, under certain circumstances. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;All shares shall be withheld for a period of one year after delivery, except for those shares re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;quired to honor the payment of taxes.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;No personal hedging strategies or insurance may be used in connection with remuneration and responsibility that may undermine the effects of alignment with sound risk management. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;The deferred amounts in cash subject t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;o multi-year performance indicators that are finally paid shall be subject to updating, in the terms determined by the Bank&amp;#8217;s Board of Directors, upon proposal of the Remunerations Committee, whereas deferred amounts in shares shall not be updated.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Finally&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;, the variable component of the remuneration of the Identified Staff members shall be limited to a maximum amount of 100% of the fixed component of total remuneration, unless the General Meeting resolves to increase this percentage up to 200%.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In this rega&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rd, the General Meeting held on March 16, 2018 resolved to increase the maximum level of variable remuneration to 200% of the fixed component for a number of the Identified Staff, in the terms indicated in the Report of Recommendations issued for this purp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ose by the Board of Directors dated February 12, 2018.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In accordance with the new remuneration policy applicable to the Identified Staff, malus and clawback arrangements will be applicable to the Annual Variable Remuneration awarded as of the year 2016, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;inclusive, for each member of the Identified Staff.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;According to the settlement and payment scheme indicated, during 2018, members of the Identified Staff received a total amount of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;3,932,268&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; shares corresponding to the initial payment corresponding to 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;7 Annual Variable Remuneration to be delivered in shares.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Additionally, the remuneration policy prevailing until 2014 provided for a specific settlement and payment scheme for the variable remuneration of the Identified Staff that established a three-year &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;deferral period for the Annual Variable Remuneration, being the deferred amount paid in thirds over this period in equal parts, in cash and in BBVA shares.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;According to this prior scheme, during 2018, the members of the Identified Staff received the shares&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; corresponding to the deferred parts of the Annual Variable Remuneration from previous years, and their corresponding adjustments in cash, delivery of which corresponded in 2018, were delivered to the beneficiary members of the Identified Staff, resulting &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in a total amount of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;941,366&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;  shares corresponding to the last deferred third of the 2014 Annual Variable Remuneration and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;903,711&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; as adjustments for updates of the shares granted.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The information on the delivery of shares to executive Directors and senio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;r management corresponding to the deferred parts of the Annual Variable Remuneration from previous years and their corresponding adjustments in cash, are detailed in Note 54.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Additionally, in line with specific regulation applicable in Portugal and Brazil,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; BBVA identifies those employees that, according to local regulators, should be subject to a specific settlement and payment scheme of the Annual Variable Remuneration. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;According to this regulation, during 2018 a number of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;39,555&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; shares corresponding to t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he initial payment of 2017 Annual Variable Remuneration were delivered to these beneficiaries. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Additionally, during 2018 the shares corresponding to the deferred parts of the Annual Variable Remuneration and their corresponding adjustments in cash, were d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;elivered to these beneficiaries, giving rise in 2018, of a total of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;12,120&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; shares corresponding to the first deferred third of the 2016 Annual Variable Remuneration, and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;2,679&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; as adjustments for updates of the shares granted; a total of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;10,485&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; shares corr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;esponding to the second third of the 2015 Annual Variable Remuneration, and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;6,186&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; as adjustments for updates of the shares granted; and a total of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;7,158&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; shares corresponding to the final third of the 2014 Annual Variable Remuneration, and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;6,872&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; as adjust&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ments for updates of the shares granted.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;44.2  Other administrative expenses&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated income statements is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other Administrative Expenses (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Technology and systems&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;692&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;673&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Communications &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Advertising&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;352&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;398&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Property, fixtures and materials&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,033&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,080&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Rent expenses (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;616&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Taxes other than income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;417&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;433&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,271&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,738&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,766&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,374&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,541&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,644&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  The consolidated companies do not expect to terminate the lease contracts &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;early.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Personnelexpensesexplanatory>
  <bbva:Personnelexpensesbreakdownexplanatory id="ID_159" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Personnel Expenses (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Wages and salaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,786&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Social security costs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;722&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;761&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;784&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Defined contribution plan expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Defined benefit plan expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other personnel expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;465&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;497&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;516&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,571&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,722&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Personnelexpensesbreakdownexplanatory>
  <bbva:Averagenumberofemployeesbygeographicalareaexplanatory id="ID_160" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.45pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Average Number of Employees&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Spanish banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Management Team&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,047 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,026 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,044 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other line personnel&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,840 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,180 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,211 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Clerical staff&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,818 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,060 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,730 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Branches abroad&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;589 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;603 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;718 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,869&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,703&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Companies abroad&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,655 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30,664 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30,378 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,786 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,532 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,710 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,322 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,154 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,900 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Venezuela&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,631 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,379 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,097 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Argentina&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,074 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,173 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,041 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Colombia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,185 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,374 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,714 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Peru&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,879 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,571 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,455 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,767 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,501 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,037 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;88,299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;90,348&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;91,332&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Pension fund managers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;395 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;362 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;335 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Other non-banking companies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,349 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;14,925 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;16,307 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;129,336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;132,504&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;136,677&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;  Men&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;59,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;60,730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;62,738&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt; Women&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;69,790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;71,774&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;73,939&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt; BBVA, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;26,294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;26,869&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;25,979&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Averagenumberofemployeesbygeographicalareaexplanatory>
  <bbva:Numberofemplyeesattheperiodendprofessionalcategoryandgender id="ID_161" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Number of Employees at the period end. Professional Category and Gender&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Male&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Female&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Male&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Female&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Male&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Female&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Management Team&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,197&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,244&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;342&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,331&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;350&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other line personnel&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,461&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,918&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,670&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39,191&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,514&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39,213&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Clerical staff&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,397&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,639&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,318&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;57,973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;67,654&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;60,553&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;71,303&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;61,911&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;72,881&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Numberofemplyeesattheperiodendprofessionalcategoryandgender>
  <ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory id="ID_162" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;45.   Depreciation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt; and Amortization&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated income statements is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Depreciation and amortization (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;594&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;694&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;690&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;For own use&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;667&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Investment properties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other Intangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;613&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;694&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;735&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,387&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,426&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory>
  <bbva:Otheradministrativeexpensesexplanatory id="ID_163" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other Administrative Expenses (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Technology and systems&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;692&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;673&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Communications &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Advertising&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;352&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;398&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Property, fixtures and materials&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,033&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,080&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Rent expenses (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;616&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Taxes other than income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;417&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;433&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,271&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,738&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,766&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,374&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,541&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,644&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  The consolidated companies do not expect to terminate the lease contracts &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;early.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Otheradministrativeexpensesexplanatory>
  <bbva:Tableofdepreciationandamortisationexpenseexplanatory id="ID_164" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Depreciation and amortization (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;594&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;694&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;690&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;For own use&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;667&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Investment properties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other Intangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;613&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;694&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;735&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,387&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,426&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofdepreciationandamortisationexpenseexplanatory>
  <ifrs-full:DisclosureOfProvisionsExplanatory id="ID_165" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;46.   Provisions or (reversal) of provisions&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the years ended Decembe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;r 31, 2018, 2017 and 2016 the net provisions recognized in this income statement line item were as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions or (reversal) of provisions (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pensions and other post employment defined benefit obligations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;343&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;332&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commitments and guarantees given&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(313)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pending legal issues and tax litigation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other Provisions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;397&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;722&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;745&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,186&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfProvisionsExplanatory>
  <bbva:Tableofprovisionsexplanatory id="ID_166" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions or (reversal) of provisions (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pensions and other post employment defined benefit obligations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;343&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;332&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commitments and guarantees given&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(313)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pending legal issues and tax litigation&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other Provisions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;397&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;722&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;745&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,186&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofprovisionsexplanatory>
  <bbva:Disclosureofimpairmentorreversalofimpairmentonfinancialassetsnotmeasuredatfairvaluethroughprofitorlossexplanatory id="ID_167" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;47.   Impairment or (reversal) of impairment on financial assets not measured at fair value through profit or loss&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;breakdown of Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss by the nature of those assets in the accompanying consolidated income statements is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment or (reversal) of impairment on financial assets not measured at fair value through profit or loss (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;202&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,131&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,980&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,677&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,597&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Recovery of written-off assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;558&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;541&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Held to maturity investments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,981&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofimpairmentorreversalofimpairmentonfinancialassetsnotmeasuredatfairvaluethroughprofitorlossexplanatory>
  <bbva:Tableofimpairmentorreversalofimpairmentonfinancialassetsnotmeasuredatfairvaluethroughprofitorlossexplanatory id="ID_168" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.45pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment or (reversal) of impairment on financial assets not measured at fair value through profit or loss (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;202&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,131&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,980&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,677&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,597&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Recovery of written-off assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.3.5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;558&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;541&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Held to maturity investments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,981&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofimpairmentorreversalofimpairmentonfinancialassetsnotmeasuredatfairvaluethroughprofitorlossexplanatory>
  <bbva:Disclosureofimpairmentorreversalofimpairmentonnonfinancialassetsexplanatory id="ID_169" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;48.  Impairmen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;t or (reversal) of impairment on non-financial assets&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The impairment losses on non-financial assets broken down by the nature of those assets in the accompanying consolidated income statements are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment or (reversal) of impairment on non-financial assets (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Intangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Others   &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;375&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;521&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofimpairmentorreversalofimpairmentonnonfinancialassetsexplanatory>
  <bbva:Disclosuregainslossesonderecognitionofnonfinancialassetsandsubsidiariesnetexplanatory id="ID_170" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;49.   Gains (losses)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt; on derecognition of non - financial assets and subsidiaries, net&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated income statements is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) on derecognition of non-financial assets and subsidiaries, net (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of investments in non-consolidated subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of tangible assets and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Losses:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of investments in non-consolidated subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(58)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of tangible assets and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosuregainslossesonderecognitionofnonfinancialassetsandsubsidiariesnetexplanatory>
  <bbva:Tableofimpairmentorreversalofimpairmentonnonfinancialassetsexplanatory id="ID_171" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment or (reversal) of impairment on non-financial assets (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Intangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Others   &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;375&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;521&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofimpairmentorreversalofimpairmentonnonfinancialassetsexplanatory>
  <bbva:Disclosureofprofitorlossfromnoncurrentassetsanddisposalgroupsclassifiedasheldforsalenotqualifyingasdiscontinuedoperationsexplanatory id="ID_172" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;50.  Profit (loss) from non-current assets and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;disposal groups classified as held for sale not qualifying as discontinued operations&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The main items included in the balance under this heading in the accompanying consolidated income statements are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:31.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Profit (loss) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains on sale of real estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment of non-current assets held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(208)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(158)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(136)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains on sale of investments classified as non-current assets held for sale (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;894&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  The change is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mainly as a result of the sale of the BBVA stake in BBVA Chile (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofprofitorlossfromnoncurrentassetsanddisposalgroupsclassifiedasheldforsalenotqualifyingasdiscontinuedoperationsexplanatory>
  <bbva:Tableofgainslossesonderecognitionofnonfinancialassetsandsubsidiariesnetexplanatory id="ID_173" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) on derecognition of non-financial assets and subsidiaries, net (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of investments in non-consolidated subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of tangible assets and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Losses:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of investments in non-consolidated subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(58)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposal of tangible assets and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofgainslossesonderecognitionofnonfinancialassetsandsubsidiariesnetexplanatory>
  <ifrs-full:DisclosureOfCashFlowStatementExplanatory id="ID_174" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;5&lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;1.   Consolidated statements of cash flows&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the consolidated statements of cash flows, the balance of &amp;#8220;Cash equivalent in central banks&amp;#8221; includes short-term deposits at centra&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;l banks under the heading &amp;quot;Financial assets at amortized cost&amp;quot; in the accompanying consolidated balance sheets and does not include demand deposits with credit institutions recorded in the heading &amp;quot;Cash, balances in cash at Central Bank and other demand de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;posits&amp;quot;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Cash flows from operating activities increased in the year ended December 31, 2018 by &amp;#8364;6,609 million (compared with a decrease of &amp;#8364;4,568 million in December 31, 2017), mainly due to the change in &amp;#8220;Financial assets held for trading&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Cash flows fro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;m investing activities increased in the year ended December 31, 2018 by &amp;#8364;4,614 million (compared with an increase of &amp;#8364;3,462 million in December 31, 2017), mainly due to the change in &amp;#8220;Joint Ventures and Associates&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Cash flows from financing activities dec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;reased in the year ended December 31, 2018 by &amp;#8364;4,994 million (compared with an increase of &amp;#8364;1,015 million in December 31, 2017), mainly due to the change in &amp;#8220;Subordinated Liabilities&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The variation between 2018 and 2017 of the financial liabilities from f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;inancing activities is the following:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16.5pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Liabilities from financing activities (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cash flows &lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:201pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:201pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Non-cash changes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Acquisition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Disposal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Foreign exchange movement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair value changes&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;50,635 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(1,621)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(1,900)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(779)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,335 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Subordinated debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;17,443 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;857 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(694)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;29 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,635 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Short-term debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;10,013 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;931 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;81 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,025 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;8,891 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;1,574 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(643)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(1,328)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,495 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;86,982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,741&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(3,237)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1,997)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;83,490&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16.5pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Liabilities from financing activities (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 31, 2016&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cash flows &lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:201pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:201pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Non-cash changes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 31, 2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Acquisition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Disposal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Foreign exchange movement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair value changes&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;59,388 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(5,958)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(2,796)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;50,635 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.6pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Subordinated debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;16,987 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;1,679 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(1,223)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;17,443 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Short-term debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;11,556 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(1,319)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(224)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;10,013 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;10,179 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(378)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(910)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;8,891 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;background-color:#004481;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;98,111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(5,976)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(5,153)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;86,982&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCashFlowStatementExplanatory>
  <bbva:Tableofprofitorlossfromnoncurrentassetsanddisposalgroupsclassifiedasheldforsalenotqualifyingasdiscontinuedoperationsexplanatory id="ID_175" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:31.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Profit (loss) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains on sale of real estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;102&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment of non-current assets held for sale&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(208)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(158)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(136)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains on sale of investments classified as non-current assets held for sale (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;894&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  The change is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mainly as a result of the sale of the BBVA stake in BBVA Chile (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Tableofprofitorlossfromnoncurrentassetsanddisposalgroupsclassifiedasheldforsalenotqualifyingasdiscontinuedoperationsexplanatory>
  <ifrs-full:DisclosureOfAuditorsRemunerationExplanatory id="ID_176" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;52.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Accountant fees and services&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The details of the fees for the services contracted by entities of the BBVA Group for the years ended December 31, 2018 and 2017 with their respective auditors and other audit entities are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fees for Audits Conducted and Other Related Services (Millions of euros) (**)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Audits of the companies audited by firms belonging to the KPMG worldwide organization and other reports related with the audit (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27.2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other reports required pursuant to applicable legislation and tax regulations issued by the national supervisory bodies of the countries in which the Group operates, reviewed by firms belonging to the KPMG worldwide organization&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fees for audits conducted by other firms&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Including fees pertaining to annual legal audits (&amp;#8364;22.4 and 22.6 million as of December 31, 2018 and December 31, 2017, respectively).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(**)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Regardless of the billed period.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the year ended December 31, 2018, other entities in the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; BBVA Group contracted other services (other than audits) as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other Services rendered (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Firms belonging to the KPMG worldwide organization&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This total of contracted services includes the detail of the services provided by KPMG Auditores, S.L. to BBVA, S.A. or its controlled companies at the date of pre&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;paration of these consolidated financial statements as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fees for Audits Conducted (*) (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Legal audit of BBVA,S.A. or its companies under control&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.8&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other audit services of BBVA, S.A. or its companies under control&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.0&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Limited Review of BBVA, S.A. or its companies under control&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reports related to issuances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Assurance jobs and other required by the regulator&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:3pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Services provided by KPMG Auditores, S.L. to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; companies located in Spain, to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the branch&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of BBVA in New York and to the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;branch of BBVA in London.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The services &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;provided by the auditors meet the independence requirements of the external auditor established under Audit of Accounts Law (Law 22/2015) and under the Sarbanes-Oxley Act of 2002 adopted by the Securities and Exchange Commission (SEC).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfAuditorsRemunerationExplanatory>
  <bbva:Tableofauditorremunerationexplanatory id="ID_177" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fees for Audits Conducted and Other Related Services (Millions of euros) (**)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Audits of the companies audited by firms belonging to the KPMG worldwide organization and other reports related with the audit (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27.2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other reports required pursuant to applicable legislation and tax regulations issued by the national supervisory bodies of the countries in which the Group operates, reviewed by firms belonging to the KPMG worldwide organization&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fees for audits conducted by other firms&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Including fees pertaining to annual legal audits (&amp;#8364;22.4 and 22.6 million as of December 31, 2018 and December 31, 2017, respectively).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(**)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Regardless of the billed period.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other Services rendered (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Firms belonging to the KPMG worldwide organization&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofauditorremunerationexplanatory>
  <bbva:Disclosureofauditorsremunerationforotherservicesexplanatory id="ID_178" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fees for Audits Conducted (*) (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Legal audit of BBVA,S.A. or its companies under control&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.8&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other audit services of BBVA, S.A. or its companies under control&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.0&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Limited Review of BBVA, S.A. or its companies under control&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reports related to issuances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.4&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:382.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Assurance jobs and other required by the regulator&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:3pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Services provided by KPMG Auditores, S.L. to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; companies located in Spain, to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the branch&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of BBVA in New York and to the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;branch of BBVA in London.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofauditorsremunerationforotherservicesexplanatory>
  <bbva:Disclosurebalancesarisingfromtransactionswithentitiesofthegroupexplanatory id="ID_179" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Balances arising from transactions with Entities of the Group (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:35.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Assets:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,866&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;442&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Liabilities:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;428&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;533&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial guarantees given&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Contingent commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,358&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;121&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,466&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurebalancesarisingfromtransactionswithentitiesofthegroupexplanatory>
  <bbva:Disclosurebalanceofincomestatementarisingfromtransactionswithentitiesofthegroupexplanatory id="ID_180" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Balances of Income Statement arising from transactions with Entities of the Group (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Income statement:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial incomes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial costs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fee and Commission Income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fee and Commission Expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurebalanceofincomestatementarisingfromtransactionswithentitiesofthegroupexplanatory>
  <bbva:Disclosureremunerationfornonexecutivedirectorsexplanatory id="ID_181" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Remuneration for non-executive directors (thousands of euro)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Board of Directors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Executive Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Audit and Compliance Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Risk Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Remunerations Committee  &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Appointments Committee &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Technology and  Cybersecurity Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Tom&amp;#225;s Alfaro Drake&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jos&amp;#233; Miguel Andr&amp;#233;s Torrecillas &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jaime F&amp;#233;lix Caruana Lacorte (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;75&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Bel&amp;#233;n Garijo L&amp;#243;pez&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;328&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Sunir Kumar Kapoor &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Carlos Loring Mart&amp;#237;nez de Irujo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;445&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Lourdes M&amp;#225;iz Carro&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;284&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jos&amp;#233; Maldonado Ramos&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;390&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Ana Peralta Moreno (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Juan Pi Llorens&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;457&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Susana Rodr&amp;#237;guez Vidarte &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;443&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jan Verplancke (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,427&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;584&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,773&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  D&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;irectors appointed by the General Meeting held on 16 March 2018.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;This includes the remunerations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; paid for membership of the various Board Committees throughout the 2018 financial year.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The composition of these Committees was modified on 27 June 2018.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Remunerations paid in accordance with the date of acceptance of said appointment.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  I&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n addition, J&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;os&amp;#233; Antonio Fern&amp;#225;ndez Rivero, who stepped down as director on 16 March 2018, received a total of &amp;#8364;95 thousand in 2018, for his membership of the Board and of a number of Board Committees.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureremunerationfornonexecutivedirectorsexplanatory>
  <bbva:Tableofdividendsexplanatory id="ID_182" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:480.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Dividends Paid (&amp;quot;Dividend Option&amp;quot; not included)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:39pt;' &gt;&lt;td style='width:129.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;% Over Nominal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Euros per Share&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Amount (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;% Over Nominal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Euros per Share&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Amount (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;% Over Nominal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Euros per Share&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Amount (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Ordinary shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;51.02%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34.69%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;32.65%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total dividends paid in cash &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;51.02%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;0.25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;34.69%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;0.17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;32.65%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;0.16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Dividends with charge to income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;51.02%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34.69%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;32.65%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofdividendsexplanatory>
  <ifrs-full:DisclosureOfRelatedPartyExplanatory id="ID_183" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;53.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Related-party transactions&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As financial institutions, BBVA and other entities in the Group engage in transactions with related parties in the normal course of their business. All of these transactions are not material and are carried out under &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;normal market conditions.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; As of December 31, 2018, 2017 and 2016, the following are the transactions with related parties:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;53.1  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Transactions with significant shareholders&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, there&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; were no shareholders considered &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;significant (see Note 26).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;53.2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Transactions with BBVA Group entities&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The balances of the main aggregates in the accompanying consolidated balance sheets arising from the transactions carried out by the BBVA Group with associates and joint venture entities accounted for using the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; equity method are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Balances arising from transactions with Entities of the Group (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:35.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Assets:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,866&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;442&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Liabilities:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits from credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;428&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;533&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial guarantees given&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Contingent commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,358&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;121&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,466&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he balances of the main aggregates in the accompanying consolidated income statements resulting from transactions with associates and joint venture entities that are accounted for under the equity meth&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;od are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Balances of Income Statement arising from transactions with Entities of the Group (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Income statement:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial incomes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial costs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fee and Commission Income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fee and Commission Expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;There were no other material effects in the consolidated financial statements arising from dealings with these entities, other than the effects from using the equity method (see Note 2.1) and from the insurance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;policies to cover pension or similar (see Note 25) commitments and the futures transactions arranged by BBVA Group with these entities, associates and joint ventures.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, as part of its normal activity, the BBVA Group has entered into agreements a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nd commitments of various types with shareholders of subsidiaries and associates, which have no material effec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ts on the accompanying consolida&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ted financial statements.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;53.3 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Transactions with members of the Board of Directors and Senior Management&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The information on the remuneration of the members of the BBVA Board of Directors and Senior Management is included in Note 54.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;December 31, 2018, the amount availed against the loans granted by the Group&amp;#8217;s entities to the members of the Board of Directors amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;611&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; thousand. As of December 31, 2017 and 2016, there were no loans granted by the Group&amp;#8217;s entities to the members&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of the Board of Directors. The amount availed against the loans granted by the Group&amp;#8217;s entities to the members of Senior Management on those same dates (excluding the executive directors) amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;3,783&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;4,049&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;5,573&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; thousand, respectively.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; December 31, 2018, 2017 and 2016, there were no loans granted to parties related to the members of the Board of Directors. As of December 31, 2018, 2017 and 2016 the amount availed against the loans granted to parties related to members of the Senior Mana&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;gement amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;69&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;85&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;98&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; thousand, respectively.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016 no guarantees had been granted to any member of the Board of Directors.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, the amount availed against guarantees arrange&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;d with members of the Senior Management amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;38&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;28&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;28&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; thousand, respectively.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, no commercial loans and guarantees has been granted to parties related to the members of the Bank&amp;#8217;s Board of Directors and the Senior Mana&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;gement. As of December 31, 2017 and 2016 the amount availed against commercial loans and guarantees arranged with parties related to the members of the Bank&amp;#8217;s Board of Directors and the Senior Management totaled &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;8&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; thousand&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;53.4 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Transactions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt; with other r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;elated parties&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of December 31, 2018, 2017 and 2016, the Group did not conduct any transactions with other related parties that are not in the ordinary course of its business, which were not carried out at arm&amp;#39;s-length market conditions and of marginal &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;relevance; whose information is not necessary to give a true picture of the BBVA Group&amp;#8217;s consolidated net equity, net earnings and financial situation.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfRelatedPartyExplanatory>
  <bbva:DisclosureOfProfitattributablebyoperatingsegmentsexplanatory id="ID_184" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Profit Attributable by Operating Segments&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Banking Activity in Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,374&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;912&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-Core Real Estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(78)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(490)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(595)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;735&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;486&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,384&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,980&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;569&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;826&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;599&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;861&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;771&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Eurasia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;93&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal operating segments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,818&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,368&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,276&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Corporate Center&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(494)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,848)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(801)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Profit attributable to parent company&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,324&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,475&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other gains (losses) (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,243&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,218&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income tax and/or profit from discontinued operations &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,699&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Operating profit before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,392&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Profit attributable to non-controlling interests.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:DisclosureOfProfitattributablebyoperatingsegmentsexplanatory>
  <bbva:DisclosureOfInterestincomebreakdownbygeographicalareaexplanatory id="ID_185" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:18pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest Income. Breakdown by geographical area (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Domestic &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,952 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,093 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,962 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreign&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,879 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,203 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,745 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;European Union&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;509 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;422 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;291 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Eurozone&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;391 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;239 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;291 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;No eurozone&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;117 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;183 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,370 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,781 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,455 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;37.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;29,831&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;29,296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;27,708&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:DisclosureOfInterestincomebreakdownbygeographicalareaexplanatory>
  <ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory id="ID_186" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;56.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Subsequent events&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On January 15, 2019, BBVA announced its irrevocable decision to early redeem, on February 19, 2019, the issuance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of preferred securities contingently convertible (additional tier 1 instrument) carried out by the Bank on February &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;19, 2014, for an amount of &amp;#8364;1.5 billion on the First Reset Date of the issuance and once the prior consent from the Regulator was obtained (see Note 22.4). &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The Board of Directors, in their meeting on January 31, 2019, agreed on carrying out an issuance of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; bonds convertible into ordinary shares of BBVA with exclusion of pre-emptive subscription rights, under the power delegated by the General Shareholders&amp;#39; Meeting of the Company held on March 17, 2017 under the fifth item on the agenda which is pending to b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e executed.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On February 1, 2019 it was announced that it was foreseen to submit to the consideration of the corresponding government bodies the proposal of cash payment in a gross amount of euro 0.16 per share to be paid in April as final dividend for 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; (see Note 4).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On February 14, 2019, t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he results of the supervisory review and evaluation process (SREP) were announced.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On 19 February, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;BBVA announced &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the irrevocable decision to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;early redeem, on April 11,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the issuance of subordinated bonds (Subordinated Notes) that has been computed as Tier 2 capital for an amount of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;1.5 billion, coin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ciding with the Optional Amortiz&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ation date of said issue, and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;once the prior consent from the Regulator &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;has been&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; obtain&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ed&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;From January 1, 2019 to the date of preparation of these Consolidated Financial Statements, no other subsequent events not mentioned above &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in these financial statements have taken place that could significantly affect the Group&amp;#8217;s earnings or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; its equity position&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory>
  <ifrs-full:DisclosureOfAdditionalInformationExplanatory id="ID_187" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;55. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Other information&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;55.1  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Environmental impact&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Given the activities BBVA Group entities engage in, the Group has no environmental liabilities, expenses, assets, provisions or contingencies that could have a significant effect on its consolidated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;equity, financial situation and profits. Consequently, as of December 31, 2018, there is no item in the Group&amp;#8217;s accompanying consolidated financial statements that requires disclosure in an environmental information report pursuant to Ministry of Justice O&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rder JUS/471/2017, of May 19, and consequently no specific disclosure of information on environmental matters is included in these financial statements.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;55.2  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:14pt;font-weight:bold;color:#004580;' &gt;Reporting requirements of the Spanish National Securities Market Commission (CNMV)&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Dividends paid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#094FA4;' &gt; in the year&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The table below presents the dividends per share paid in cash during 2018, 2017 and 2016 (cash basis dividend, regardless of the year in which they were accrued), but without including other shareholder remuneration, such as the &amp;#8220;Dividend Opti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;on&amp;#8221;. See Notes 4 and 26 for a complete analysis of all remuneration awarded to the shareholders.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:480.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Dividends Paid (&amp;quot;Dividend Option&amp;quot; not included)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:39pt;' &gt;&lt;td style='width:129.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;% Over Nominal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Euros per Share&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Amount (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;% Over Nominal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Euros per Share&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Amount (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;% Over Nominal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Euros per Share&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Amount (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Ordinary shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;51.02%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34.69%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;32.65%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total dividends paid in cash &lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;51.02%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;0.25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;34.69%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;0.17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;32.65%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;0.16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Dividends with charge to income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;51.02%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34.69%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;32.65%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:39pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Ordinary earnings and ordinary income by operating segment&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The detail of the consolidated profit for each operating segment is as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;follows as of December 31 2018, 2017 and 2016:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Profit Attributable by Operating Segments&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Banking Activity in Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,374&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;912&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-Core Real Estate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(78)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(490)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(595)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;735&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;486&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,384&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,980&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;569&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;826&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;599&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;861&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;771&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Eurasia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;93&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal operating segments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,818&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,368&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#33CCCC;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,276&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Corporate Center&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(494)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,848)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(801)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Profit attributable to parent company&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,324&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,519&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,475&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other gains (losses) (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,243&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,218&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income tax and/or profit from discontinued operations &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,699&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Operating profit before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,392&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Profit attributable to non-controlling interests.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#094FA4;' &gt;Interest income by geographical area&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The breakdown of the balance of &amp;#8220;Interest income and other income&amp;#8221; in the accompanying &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;consolidated income statements by geographical area is as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:18pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Interest Income. Breakdown by geographical area (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#003366;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Domestic &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,952 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,093 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,962 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreign&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,879 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,203 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,745 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;European Union&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;509 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;422 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;291 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Eurozone&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;391 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;239 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;291 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;No eurozone&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;117 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;183 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:281.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,370 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,781 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,455 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:281.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#003366;border-color:Black;min-width:281.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;37.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;29,831&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;29,296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#003366;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;27,708&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfAdditionalInformationExplanatory>
  <ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory id="ID_188" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;54.   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:16pt;font-weight:bold;color:#072146;' &gt;Remuneration and other benefits to the Board of Directors and to the members of the Bank&amp;#8217;s Senior Management&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#002060;' &gt;Remuneration received by non-executive directors during the 2018 financial year&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The remunerations paid &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;to non-executive members of the Board of Directors during the 2018 financial year are indicated below, individually and itemized:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:13.5pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Remuneration for non-executive directors (thousands of euro)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Board of Directors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Executive Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Audit and Compliance Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Risk Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Remunerations Committee  &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Appointments Committee &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Technology and  Cybersecurity Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Tom&amp;#225;s Alfaro Drake&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jos&amp;#233; Miguel Andr&amp;#233;s Torrecillas &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jaime F&amp;#233;lix Caruana Lacorte (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;75&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Bel&amp;#233;n Garijo L&amp;#243;pez&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;328&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Sunir Kumar Kapoor &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Carlos Loring Mart&amp;#237;nez de Irujo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;445&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Lourdes M&amp;#225;iz Carro&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;284&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jos&amp;#233; Maldonado Ramos&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;390&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Ana Peralta Moreno (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Juan Pi Llorens&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;457&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Susana Rodr&amp;#237;guez Vidarte &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;443&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jan Verplancke (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:81pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,427&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;584&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,773&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  D&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;irectors appointed by the General Meeting held on 16 March 2018.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;This includes the remunerations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; paid for membership of the various Board Committees throughout the 2018 financial year.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The composition of these Committees was modified on 27 June 2018.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Remunerations paid in accordance with the date of acceptance of said appointment.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(2)  I&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n addition, J&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;os&amp;#233; Antonio Fern&amp;#225;ndez Rivero, who stepped down as director on 16 March 2018, received a total of &amp;#8364;95 thousand in 2018, for his membership of the Board and of a number of Board Committees.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Also, during the 2018 financial year, &amp;#8364;107 thousand has been paid ou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t in casualty and healthcare insurance premiums for non-executive members of the Board of Directors.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#002060;' &gt;Remuneration received by executive directors during the 2018 financial year&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Over the course of financial year 2018, the executive directors have received &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;the amount of the Annual Fixed Remuneration corresponding to said financial year, established in the Remuneration Policy for BBVA Directors applicable in 2018, which was approved by the General Meeting held on 17 March 2017.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, the executive dire&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ctors have received the Annual Variable Remuneration for 2017 financial year, which, in accordance with the settlement and payment system set out in said Policy, was due to be paid to them during the first quarter of financial year 2018.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In application of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;this settlement and payment system:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;40% of the 2017 Annual Variable Remuneration corresponding to executive directors has been paid, having the conditions been met, in the first quarter of financial year 2018 (hereinafter, the &amp;quot;Upfront Portion&amp;quot;), in equal &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;parts in cash and in shares. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The remaining 60% of the Annual Variable Remuneration, both in cash and in shares, has been deferred in its entirety for a period of five years, and its accrual and payment will be subject to compliance with a series of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;multi-year indicators (hereinafter, the &amp;quot;Deferred Portion&amp;quot;). The application of these indicators, calculated over the first three years of deferral, may lead to a reduction of the Deferred Portion, even in its entirety, but in no event may be increased. Pr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ovided that the relevant conditions have been met, the resulting amount will then be paid (40% in cash and 60% in shares), according to the following schedule: 60% in 2021, 20% in 2022 and the remaining 20% in 2023.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;All the shares delivered to the executiv&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e directors as Annual Variable Remuneration, both of the Upfront Portion and the Deferred Portion will be withheld for a period of one year after their delivery; this will not apply to those shares transferred to honor the payment of taxes arising therefro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;m.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The Deferred Portion of the Annual Variable Remuneration in cash will be subject to updating under the terms established by the Board of Directors.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Executive directors may not use personal hedging strategies or insurance in connection with the remunerat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ion and responsibility that may undermine the effects of alignment with prudent risk management.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The variable component of the remuneration for executive directors corresponding financial year 2017 is limited to a maximum amount of 200% of the fixed compon&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ent of the total remuneration, as agreed by the General Meeting.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Over the entire deferral and withholding period, the entire Annual Variable Remuneration for the executive directors will be subject to reduction and recovery (&amp;quot;malus&amp;quot; and &amp;quot;clawback&amp;quot;) arrange&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ments.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Additionally, upon receipt of the shares, executive directors will not be allowed to transfer a number of shares equivalent to twice their Annual Fixed Remuneration (AFR) for at least three years after their delivery.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Similarly, in application of t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he settlement and payment system of the annual variable remuneration for 2014 financial year, in accordance with the remuneration policy applicable at that time, the executive directors have received in 2018 the last third of the deferred annual variable r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;emuneration for 2014 financial year, delivery of which corresponded in 2018, thus concluding payment of the deferred variable remuneration for 2014.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In accordance with the above, the remunerations paid to executive directors during financial year 2018 are &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;indicated below, individually and itemized:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Annual Fixed Remuneration (thousands of euro), received in 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:433.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:433.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:433.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:433.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Carlos Torres Vila&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,965&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:433.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:433.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;834&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:433.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:433.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,799&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17.25pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Variable remuneration for financial year 2017, received in 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:383.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In cash (1)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(thousands of euro)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In shares (1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:383.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Carlos Torres Vila&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;77,493&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:383.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12,029&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:383.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;649&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;89,522&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  Remunerations corresponding to the Upfront Portion (40%) of the Annual Variable Remuneration for financial year 2017, 50% in cash and 50% in shares.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:18pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Deferred variable remuneration for financial year 2014, received in 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In cash (1)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(thousands of euro)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In shares (1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Carlos Torres Vila&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;105&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,766&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:382.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,678&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;137&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;15,444&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  Remunerations corresponding to the last third of the deferred annual variable remuneration for financial year 2014, 50% in cash and 50% in shares, along with its update in cash.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, the executive directors received remuneration&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; in kind throughout financial year 2018, including insurance premiums and others, amounting to a total of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;236&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; thousand, of which &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;154&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; thousand correspond to Carlos Torres Vila and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;82&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; thousand to Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Former Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; Executive Chairman, Francisco Gonz&amp;#225;lez Rodr&amp;#237;guez, who stepped down from this position with effect on 21 December 2018, received, during 2018, &amp;#8364;2,475 thousand as Annual Fixed Remuneration; &amp;#8364;660 thousand and 90,933 BBVA shares corresponding to 40% of the An&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nual Variable Remuneration for financial year 2017; and &amp;#8364;332 thousand and 37,390 BBVA shares as settlement of the last third of the deferred variable remuneration for financial year 2014, payment of which corresponded in first quarter of financial year 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;8, including the corresponding update; as well as &amp;#8364;20 thousand as remuneration in kind.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;On the other hand, it is indicated that in 2018, CEO Onur Gen&amp;#231;&amp;#8212;who was appointed by resolution of BBVA&amp;#39;s Board of Directors on 20 December 2018&amp;#8212; has not received any r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;emuneration for said role in 2018, having received fixed and variable remuneration in accordance with his previous position as Chairman and CEO of BBVA Compass, this remuneration being subject to the settlement and payment system applicable to said positio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;n. Thus, over the course of the financial year 2018, he has received &amp;#8364;2,240&lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;(*)&lt;/font&gt;&lt;/sup&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; thousand as Annual Fixed Remuneration; &amp;#8364;191&lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;(*)&lt;/font&gt;&lt;/sup&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; thousand and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;26,531 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;BBVA&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; ADSs&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; corresponding to 40% of the Annual Variable Remuneration for financial year 2017; and &amp;#8364;376 thousand as remuneration in kind, which includes benefits for his expatriate status in the United States.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;margin-left:0pt;color:#000000;' &gt;(*) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Amounts paid in US Dollars. Euro details are for info&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;rmation purposes.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#006EC1;' &gt;Annual Variable Remuneration for executive directors for financial year&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#006EC1;' &gt;2018 &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Following year-end 2018, the Annual Variable Remuneration for executive directors corresponding to said period has been determined, applying the conditions esta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;blished at the beginning of the year, as established in the Remuneration Policy for BBVA Directors approved by the General Meeting on 17 March 2017 with the following settlement and payment system:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The Upfront Portion (40%) of the Annual Variable Remunerat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ion of the executive directors for 2018 will be paid, if conditions are met, in equal parts in cash and shares, during the first quarter of 2019, which amounts to &amp;#8364;479 thousand and 100,436 BBVA shares in the case of Carlos Torres Vila; and &amp;#8364;79 thousand and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; 16,641 BBVA shares in the case of Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The Deferred Po&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rtion (60%) remaining will be deferred for a five-year period, subject to compliance with the multi-year performance indicators determined by the Board of Directors at the start of financial year 2018, calculated over the first three-year deferral period. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Provided that the conditions are met, the resulting amount will vest (40% in cash and 60% in shares), under the following schedule: 60% after the third year of deferral, 20% after the fourth year of deferral and the remaining 20% after the fifth year of de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ferral. All the above is subject to the settlement and payment system conditions set out in the Remuneration Policy for BBVA Directors, which includes malus and clawback arrangements and retention periods for shares.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;As regards former Group Executive Chair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;man,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; Francisco Gonz&amp;#225;lez Rodr&amp;#237;guez,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; his Annual Variable Remuneration for 2018 has been determined. This Annual Variable Remuneration for 2018 will be received, provided that conditions are met, in accordance with the same settlement and payment system appli&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;cable to executive directors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; which includes deferral rules, malus and clawback arrangements and retention periods for shares&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Thus,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;the Upfront Portion (40%) has been determined in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;: &amp;#8364;528 thousand and 110,814 BBVA shares. Accrual and payment of the Deferred&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; Portion (remaining 60%), 40% in cash and 60% in shares, will be subject to compliance with multi-year performance indicators approved by the Board of Directors. All the above is subject to the conditions of the settlement and payment system established in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the Remuneration Policy for BBVA Directors, which includes malus and clawback arrangements and withholding periods for shares.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;As regards CEO Onur Gen&amp;#231; and as aforementioned, his Annual Variable Remuneration for financial year 2018 is linked to his previo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;us position as Chairman and CEO of BBVA Compass and has been determined in accordance with the settlement and payment system applicable for such position.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Thus, providing that applicable conditions are met, 40% of Annual Variable Remuneration for 2018 will&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; be paid in the first quarter of 2019, amounting to a total of &amp;#8364;196 thousand&lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;(*)&lt;/font&gt;&lt;/sup&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; and 41,267 BBVA shares.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;Accrual and payment of the remaining 60% of the Annual Variable Remuneration for financial year 2018, 50% in cash and 50% in shares, will be deferred fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;r a three-year period and will be subject to compliance with multi-year performance indicators set by the Board of Directors for the whole Identified Staff at the beginning of 2018 and measured over the course of the three-year period.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;margin-left:0pt;color:#000000;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Euro details &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;are for information purposes. Year-end 2018 exchange rate applied: EUR/USD 1,145001.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;At the time of drafting of these consolidated Annual Accounts none of these remunerations have been paid.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amounts corresponding to deferred shares is detailed in the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;section &amp;quot;Remuneration based on Capital/Equity Instruments&amp;quot; and the cash part in &amp;quot;Other Liabilities/Other Accruals&amp;quot; in the consolidated balance sheet at 31 December 2018.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#006EC1;' &gt;Deferred Annual Variable Remuneration of executive directors for financial year&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#006EC1;' &gt;2015&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;F&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ollowing year-end 2018, the deferred Annual Variable Remuneration of executive directors for financial year 2015 has been determined, with&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; delivery, if conditions are met, corresponding during the first quarter of financial year 2019, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;subject to the condit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ions established for this purpose in the Remuneration Policy for BBVA Directors approved by the General Meeting on 13 March 2015. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Thus, based on the result of each of the multi-year performance indicators set by the Board in 2015 to calculate the deferred&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; portion of this remuneration, and in application of the corresponding scales of achievement and their corresponding targets and weightings, likewise approved by the Board, the deferred portion of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Annual Variable Remuneration for financial year 2015 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;s been adjusted downwards as a consequence of result of the TSR indicator, which scale has determined a 10% reduction in the deferred amount associated to this indicator. The final amount of the deferred portion of the Annual Variable Remuneration for fina&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ncial year 2015, after the corresponding adjustment in light of the result of the TSR indicator, has been determined in an amount of &amp;#8364;612 thousand and 79,157 BBVA shares, in the case of Carlos Torres Vila, and &amp;#8364;113 thousand and 14,667 BBVA shares in the ca&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;se of Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo, which includes the corresponding updating.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;As regards the former Group Executive Chairman, Francisco Gonz&amp;#225;lez Rodr&amp;#237;guez, his deferred Annual Variable Remuneration for financial year 2015 has been determin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ed, to be received, providing that conditions are met, in accordance with the same settlement and payment system applicable to executive directors, amounting to a total of &amp;#8364;1,035 thousand and 133,947 BBVA shares, which includes the corresponding updating.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;At the time of drafting of these consolidated Annual Accounts none of these remunerations have been paid.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Lastly, as at year-end 2018 and in accordance with the conditions established in the remuneration policies applicable in the corresponding years, 50% &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;and 60% of the annual variable remuneration of the executive directors corresponding to 2016 and 2017 financial years, respectively, has been deferred, to be received in future years, if applicable conditions are met, in accordance with the terms establish&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ed in the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;remuneration policy applicable for each of such financial years&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#5B9BD5;' &gt;Remuneration received by the members of Senior Management in the 2018 financial year&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#5B9BD5;' &gt; &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The members of Senior Management, excluding executive directors, who held that position as at&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;20 December 2018(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; (15 members) have, over the course of the 2018 financial year, received the amount of the fixed remuneration corresponding to that financial year and the Annual Variable Remuneration for the 2017 financial year, which, in accordance wit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;h the settlement and payment system set out in the remuneration policy applicable to Senior Management in this financial year, was due to be paid to them during the first quarter of 2018. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In application of this&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; settlement and payment system:&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;40% of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Annual Variable Remuneration due to members of the Senior Management for the 2017 financial year, 40% has been paid, as the conditions have been met, in the first quarter of the 2018 financial year (the &amp;quot;Upfront Portion&amp;quot;), in equal parts in cash and in sha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;res. &lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The remaining 60% of the Annual Variable Remuneration, in both cash and shares, has been deferred in its entirety for a period of five years, and its accrual and payment will be subject to compliance with a series of multi-year indicators (the &amp;quot;Defer&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;red Portion&amp;quot;). The application of these indicators, calculated over the first three years of deferral, may lead to a reduction of the Deferred Portion, even in its entirety, but in no event may be increased. Provided that the relevant conditions have been &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;met, the resulting amount will then be paid (40% in cash and 60% in shares), according to the following payment schedule: 60% in 2021, 20% in 2022 and the remaining 20% in 2023.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The shares received as Annual Variable Remuneration will be withheld for a per&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;iod of one year after their delivery, with the exception of those transferred to honor the payment of tax&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;es arising from their delivery.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The deferred portion of the Annual Variable Remuneration in cash will be subject to updating under the terms establish&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ed by the Board of Directors.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;No personal hedging strategies or insurance may be used in connection with the remuneration and the responsibility that may undermine the effects of alignment with prudent risk management.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;The variable component of the remuner&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ation corresponding to the financial year 2017 will be limited to a maximum amount of 200% of the fixed component of the total remuneration, as agreed by the General Meeting.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Over the entire deferral and withholding period, the total Annual Variable Remune&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ration will be subject to variable &amp;quot;malus&amp;quot; and &amp;quot;clawback&amp;quot; arrangements.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Similarly, in application of the settlement and payment system of the annual variable remuneration for 2014 financial year, in accordance with the remuneration policy applicable at tha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;t time, the Senior Management who were beneficiaries of such remuneration, have received the deferred last third of the annual variable remuneration for that financial year, which delivery corresponded to the first quarter of 2018, thus concluding payment &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;of the deferred variable remuneration for the 2014 financial year.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;margin-left:0pt;' &gt;(*) Date of the Board of Directors&amp;#8217; resolution b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;' &gt;y which organizational changes were approved in the Group.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In accordance with the above, the remuneration paid to members of the Senior Management as a whole, who held that position as at 20 December 2018, excluding executive directors, during the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; 2018 financial year is indicated below (itemized):&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:485.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:485.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Annual Fixed Remuneration (thousands of euro) received in 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:366pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:366pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:366pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:366pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Senior Management total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16,129&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17.25pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:478.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:478.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Annual Variable Remuneration for the 2017 financial year, received in 2018 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:292.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In cash&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(thousands of euro)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In shares&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Senior Management total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,489&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;205,104&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:18pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:478.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:478.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Deferred variable remuneration for the 2014 financial year, received in 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:292.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In cash&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(thousands of euro)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In shares&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Senior Management total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;64,853&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In addition, all &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;members of Senior Management who held that position as at 20 December 2018, excluding executive directors, received remuneration in kind throughout the 2018 financial year, including insurance premiums and others, amounting to a total of &amp;#8364;875 thousand. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;At&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the year-end 2018 and subject to the conditions established in the remuneration policies applicable to the corresponding year for, components of the annual variable remuneration of members of the Senior Management who were beneficiaries of remunerations f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;or the 2016 and 2017 financial years, are deferred to be received in future years, if conditions are met, in accordance with the policy applicable for each of such financial years.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As regards of those members of the Senior Management who were appointed by &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;resolution of BBVA&amp;#39;s Board of Directors on 20 December 2018 (5 members) have not received any remuneration for such condition, having received fixed and variable remuneration in line with their former positions and functions amounting in aggregate &amp;#8364;1,757 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;housand as Annual Fixed Remuneration; &amp;#8364;337 thousand and 24,293 BBVA shares for Upfront Portion of the Annual Variable Remuneration for the 2017 financial year; and &amp;#8364;33 thousand and 3,684 BBVA shares as settlement of the deferred last third of the Annual Va&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;riable Remuneration for the 2014 financial year to the Senior Management who were beneficiaries of such remuneration, including the corresponding update, as well as remuneration in kind and others for an amount of &amp;#8364;158 thousand, all in application of the r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;emuneration policy to which they were entitled in their condition as risk taker.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#006EC1;' &gt;Annual Variable Remuneration for Senior Management for financial year 2018 &lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Following year-end 2018, the Annual Variable Remuneration of Senior Management corresponding to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;said period has been determined, excluding executive directors, who held that position as at 20 December 2018 (15 members)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Therefore, the 2018 Annual Variable Remuneration to all of the Senior Management, excluding executive directors, has been determine&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;d in a total amount of &amp;#8364;7,074 thousand, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;in application of the settlement and payment system&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; for this group. T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he 40% of the Annual Variable Remuneration corresponding to each of will be paid, providing the conditions are met, in equal parts in cash and in s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;hares, during the first quarter of 2019. The remaining 60% of the Annual Variable Remuneration (40% in cash and 60% in shares) will be subject to compliance with a series of multi-year indicators and to the rest of the settlement and payment system conditi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ons set out in the remuneration policy applicable to Senior Management, which includes malus and clawback arrangements and retention periods for shares&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As regards &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;those members of the Senior Management who were appointed by resolution of BBVA&amp;#39;s Board of D&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;irectors on 20 December 2018 (5 members)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, their Annual Variable Remuneration for the 2018 year-end has been calculated in line &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;with their former positions and functions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;amounting in aggregate &amp;#8364;633 thousand&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;being subject to the conditions set out in the r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;emuneration policy to which they were entitled in their condition as risk taker&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;At the time of drafting of these consolidated Annual Accounts none of these remunerations have been paid.&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#006EC1;' &gt;Deferred Annual Variable Remuneration of Senior Management for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#006EC1;' &gt;financial year&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#006EC1;' &gt;2015&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Following year-end 2018, the deferred Annual Variable Remuneration of Senior Management &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;for financial year 2015 has been determined&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, excluding executive directors, who held that position as at 20 December 2018 (15 members). &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;Thus, based&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt; on the result of each of the multi-year performance indicators set by the Board in 2015 to calculate the deferred portion of this remuneration, and in application of the corresponding scales of achievement and their corresponding targets and weightings, l&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ikewise approved by the Board, the deferred portion of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Annual Variable Remuneration for financial year 2015 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;has been adjusted downwards as a consequence of result of the TSR indicator, which scale has determined a 10% reduction in the deferred amount a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;ssociated to this indicator. The final amount of the deferred portion of the Annual Variable Remuneration for financial year 2015 to be paid to Senior Management beneficiaries of such remuneration, if applicable conditions are met, after the corresponding &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;adjustment in light of the result of the TSR indicator, has been determined in an amount of &amp;#8364;2,936 thousand and 382,407 BBVA shares, which includes the corresponding updating.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As regards &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;those members of the Senior Management who were appointed by resoluti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;on of BBVA&amp;#39;s Board of Directors on 20 December 2018 (5 members)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; that were entitled to such deferred remuneration, their &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Annual Variable Remuneration for financial year 2015 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;has been&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; calculated in line &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;with their former positions and functions, amounting in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; aggregate &amp;#8364;110 thousand&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and 14,203 BBVA shares, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;which includes the corresponding updating&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;being subject to the conditions set out in the remuneration policy to which they were entitled in their condition as a Group&amp;#39;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-style:italic;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;risk takers&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;color:#000000;' &gt;At the time of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;drafting of these consolidated Annual Accounts none of these remunerations have been paid.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;
&lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#006EC1;' &gt;Remuneration system with deferred delivery of shares for non-executive directors&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;BBVA has a remuneration system in shares with deferred delivery for its non-executi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ve directors, which was approved by the General Shareholders&amp;#39; Meeting held on 18 March 2006 and extended by resolutions of the General Shareholders&amp;#39; Meetings held on 11&amp;#160;March 2011 and 11&amp;#160;March 2016 for an additional period of five years in each case.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;This &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;system involves the annual allocation to non-executive directors of a number of &amp;quot;theoretical shares&amp;quot; of BBVA equivalent to 20% of the total remuneration received in cash received by each director in the previous financial year. This is calculated according&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; to the average closing prices of BBVA shares during the 60&amp;#160;trading sessions prior to the dates of the Annual General Shareholders&amp;#39; Meetings that approve the corresponding financial statements for each financial year.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;These shares will be delivered to each&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; beneficiary, where applicable, after they leave their positions as directors for reasons other than serious breach of their duties.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The &amp;quot;theoretical shares&amp;quot; allocated in 2018 to each non-executive director beneficiaries of the remuneration system in share&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s with deferred delivery, corresponding to 20% of the total remuneration in cash received by each of them in 2017, are as follows:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Theoretical shares allocated in 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Theoretical shares accumulated as at 31 December 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tom&amp;#225;s Alfaro Drake&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83,449&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Jos&amp;#233; Miguel Andr&amp;#233;s Torrecillas&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,755&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,565&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Bel&amp;#233;n Garijo L&amp;#243;pez&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,865&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,641&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sunir Kumar Kapoor&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,811&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,976&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Carlos Loring Mart&amp;#237;nez de Irujo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,985&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;98,876&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Lourdes M&amp;#225;iz Carro&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,160&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Jos&amp;#233; Maldonado Ramos&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78,995&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Juan Pi Llorens&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54,171&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Susana Rodr&amp;#237;guez Vidarte&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,425&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;104,983&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;90,400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;523,816&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  I&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n addition, in 2018, 10,188 &amp;quot;theoretical shares&amp;quot; were allocated to Jos&amp;#233; Antonio Fern&amp;#225;ndez Rivero&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, who stepped down as a director on 16&amp;#160;March 2018.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#006EC1;' &gt;Pension commitments&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;At the end of the 2018 financial year, the Bank has pension commitments in favor of the executive directors Carlos Torres Vila and Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;cover contingencies for retirement, disability and death, in accordance with the Bylaws, the Remuneration Policy for BBVA Directors and their respective contracts entered into with the Bank.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With regard to Carlos Torres Vila, the Remuneration Policy for BB&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;VA Directors provides for a benefits framework according to which he is entitled, provided that he does not leave his position as Chief Executive Officer due to serious breach of duties, to receive a retirement pension when he reaches the legally establish&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ed retirement age, in the form of capital or income. The amount of this pension shall result from the funds accumulated by the Bank up to December 2016 to cover the commitments under his previous benefits scheme, plus the sum of the annual contributions ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;de by the Bank from 1&amp;#160;January 2017 to cover said pension, as well as the corresponding accumulated yields. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The amount set out in the Remuneration Policy for BBVA Directors as annual contribution to cover retirement benefit under the defined-contribution s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;cheme for Carlos Torres Vila is &amp;#8364;1,642 thousand. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;15% of the aforementioned agreed annual contribution will be based on variable components and considered &amp;quot;discretionary pension benefits&amp;quot;, therefore subject to the conditions regarding delivery in shares, r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;etention and clawback established in the applicable regulations, as well as any other conditions concerning variable remuneration that may be applicable in accordance with this Policy.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Should the contractual relationship be terminated before he reaches the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; retirement age for reasons other than serious breach of duties, the retirement pension due to Carlos Torres Vila upon reaching the legally established retirement age will be calculated based on the total contributions made by the Bank under the terms set &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;out, up to that date, plus the corresponding accumulated yield, with no additional contributions to be made by the Bank from the time of termination.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With respect to the commitments to cover the contingencies for death and disability benefits for Carlos To&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rres Vila, the Bank will undertake the payment of the corresponding annual insurance premiums in order to top up the coverage the death and disability contingencies of his benefits system.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In line with the above, during the 2018 financial year, &amp;#8364;1,896 thou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;sand has been recorded to meet the benefits commitments for Carlos Torres Vila, amount which includes the contribution to the retirement contingency (&amp;#8364;1,642 thousand) and to death and disability (&amp;#8364;212 thousand), as well as &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;42 thousand corresponding to the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; adjustments made to the amount of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;quot;discretionary pension benefits&amp;quot; from 2017, as declared at 2017 year-end and which had to be recorded in the accumulated fund in 2018. As a result, the total accumulated amount of the fund to meet retirement commitments w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ith Carlos Torres Vila amounts to &amp;#8364;18,581 thousand as at 31 December 2018. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;15% of the agreed annual contribution to retirement (&amp;#8364;246 thousand) has been recognized in 2018 as &amp;quot;discretionary pension benefits&amp;quot;. Following year-end 2018, this amount has been a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;djusted according to the criteria established to determine Carlos Torres Vila&amp;#39;s Annual Variable Remuneration for 2018. Accordingly, the &amp;quot;discretionary pension benefits&amp;quot; for the financial year have been determined in an amount of &amp;#8364;245 thousand, which will b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;e included in the accumulated fund for 2019, subject to the same conditions as the Deferred Component of Annual Variable Remuneration for 2018, as well as the remaining conditions established for these benefits in the Remuneration Policy for BBVA Directors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In the case of Jos&amp;#233;&amp;#160;Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo, the pension system provided for in the Remuneration Policy for BBVA Directors establishes an annual contribution of 30% of his Annual Fixed Remuneration, to cover the contingency of his retire&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ment, as well as the payment of the corresponding insurance premiums in order to top up the coverage of death and disability.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;15% of the aforementioned agreed annual contribution will be based on variable components and considered &amp;quot;discretionary pension be&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nefits&amp;quot;, therefore subject to the conditions regarding delivery in shares, retention and clawback established in the applicable regulations, as well as any other conditions concerning variable remuneration that may be applicable in accordance with this Pol&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;icy.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo, upon reaching retirement age, will be entitled to receive, in the form of capital or income, the benefits arising from contributions made by the Bank to cover pension commitments, plus the corresponding yi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;eld accumulated up to that date, provided he does not leave his position due to serious breach of duties. In the event of voluntary termination of contractual relationship by the director before retirement, the benefits will be limited to 50% of the contri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;butions made by the Bank up to that date, as well as the corresponding accumulated yield, with no additional contributions to be made by the Bank upon termination. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;With respect to the commitments to cover the contingencies for death and disability benefit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;, the Bank will undertake the payment of the corresponding annual insurance premiums in order to top up the coverage the death and disability contingencies of his benefits system.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In line with the above, du&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ring the 2018 financial year, &amp;#8364;405 thousand has been recorded to meet the benefits commitments for Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo, amount which includes the contribution to the retirement contingency (&amp;#8364;250 thousand) and to death and disabilit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;y (&amp;#8364;147 thousand), as well as &amp;#8364;8 thousand corresponding to the adjustments made to the amount of &amp;quot;discretionary pension benefits&amp;quot; from 2017, as declared at 2017 year-end and which had to be recorded in the accumulated fund in 2018. As a result, the total a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ccumulated amount of the fund to meet retirement commitments with Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo amounts to &amp;#8364;1,067 thousand as at 31 December 2018. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;15% of the agreed annual contribution to retirement (&amp;#8364;38 thousand) has been recognized in 2018 as &amp;quot;discretiona&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ry pension benefits&amp;quot;. Following year-end 2018, this amount has been adjusted according to the criteria established to determine &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Jos&amp;#233; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo&amp;#8217;s Annual Variable Remuneration for 2018. Accordingly, the &amp;quot;discretionary pension be&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;nefits&amp;quot; for the financial year have been determined in an amount of &amp;#8364;42 thousand, which will be included in the accumulated fund for 2019, subject to the same conditions as the Deferred Component of Annual Variable Remuneration for 2018, as well as the rem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;aining conditions established for these benefits in the Remuneration Policy for BBVA Directors. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;As of 31 December 2018 there are no other pension commitments undertaken in favor of other executive directors. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;Likewise, during the 2018 financial year, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;&amp;#8364;4,754 thousand has been recorded to meet the benefits commitments undertaken with members of the Senior Management, excluding executive directors, who held said position as at 20 December 2018 (15 members), amount which includes the contribution to the re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;tirement contingency (&amp;#8364;3,883 thousand) and to death and disability (&amp;#8364;831 thousand), as well as &amp;#8364;40 thousand corresponding to the adjustments made to the amount of &amp;quot;discretionary pension benefits&amp;quot; from 2017, as declared at 2017 year-end and which had to be &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;recorded in the accumulated fund in 2018. As a result, the total accumulated amount of the fund to meet retirement commitments with Senior Management amounts to &amp;#8364;57,429 thousand as at 31 December 2018. &lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;15% of the agreed annual contributions for members of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; Senior Management who held that position as at 20 December 2018 will be based on variable components and considered &amp;quot;discretionary pension benefits&amp;quot;, therefore subject to the conditions regarding delivery in shares, retention and clawback established in t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;he applicable regulations, as well as any other conditions concerning variable remuneration that may be applicable in accordance with the remuneration policy applicable to members of Senior Management.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;To this end, of the agreed annual contribution to reti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;rement, an amount of &amp;#8364;571 thousand has been recognized in 2018 as &amp;quot;discretionary pension benefits&amp;quot;. Following year-end 2018, this amount has been adjusted according to the criteria established to determine the Annual Variable Remuneration of the Senior Man&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;agement for 2018. Accordingly, the &amp;quot;discretionary pension benefits&amp;quot; for the financial year, corresponding to members of the Senior Management who held that position as at 20 December 2018, have been determined in an amount of &amp;#8364;555 thousand, which will be i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ncluded in the accumulated fund for 2019, subject to the same conditions as the Deferred Component of Annual Variable Remuneration for 2018, as well as the remaining conditions established for these benefits in the remuneration policy applicable to members&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; of the Senior Management.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;During the 2018 financial year, &amp;#8364;146 thousand has been recorded to meet the benefits commitments undertaken with the members of the Senior Management, excluding executive directors, who were appointed by BBVA&amp;#39;s Board of Directors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; on 20 December 2018 (five members), pursuant to the commitments made by the Bank with each of them in relation to their previous positions and functions, with such amount including both the contribution to retirement contingency(&amp;#8364;97 thousand) as well as t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;o death and disability (&amp;#8364;49 thousand), with the fund accumulated to meet retirement commitments for this group amounting to a total of &amp;#8364;1,713 thousand.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#006EC1;' &gt;Termination of the contractual relationship&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;In accordance with the Remuneration Policy for BBVA Director&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;s, the Bank has no commitments to pay severance payments to executive directors.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The contractual framework defined in the aforementioned Policy for Carlos Torres Vila and for the executive director Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo, includes a p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ost-contractual non-compete agreement for a period of two years after they cease as BBVA executive directors, in accordance to which they will receive remuneration from the Bank for an amount equivalent to one Annual Fixed Remuneration for each year of dur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ation of the non-compete arrangement , which shall be paid periodically over the course of the two years, provided that they leave their positions as executive directors for reasons other than retirement, disability or serious breach of duties.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory>
  <ifrs-full:DisclosureOfJointVenturesExplanatory id="ID_189" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Joint Ventures and Associates Entities. Breakdown by entities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.95pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Joint ventures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fideic F 403853 5 BBVA Bancom Ser.Zibata&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fideicomiso 1729 Invex Enajenacion de Cartera&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PSA Finance Argentina Compa&amp;#241;ia Financier&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Altura Markets, S.V., S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;RCI Colombia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other joint ventures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.95pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;173&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;256&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Associates Entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Metrovacesa Suelo y Promoci&amp;#243;n, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;508&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;697&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;208&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Testa Residencial SOCIMI, S.A.U.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;444&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Metrovacesa Promoci&amp;#243;n y Arrendamientos, S.A.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Atom Bank, PLC&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Divarian Propiedad S.A.U.&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Servired&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other associates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.95pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,332&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;536&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.95pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,588&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;765&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfJointVenturesExplanatory>
  <bbva:JoinVenturesAndAssociatesEntitiesChangesInTheYear id="ID_190" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Joint Ventures and Associates Entities. Changes in the Year (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,588&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;765&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;879&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Acquisitions and capital increases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;868&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;456&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Disposals and capital reductions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(516)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers and changes of consolidation method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(351)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Share of profit and loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Exchange differences&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Dividends, valuation adjustments and others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(118)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,588&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;765&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:JoinVenturesAndAssociatesEntitiesChangesInTheYear>
  <bbva:Securedtaxassets id="ID_191" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Secured tax assets (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017 (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016 (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pensions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,874&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,897&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,901&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,489&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,536&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,530&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,433&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,431&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;In 2017 and 2016 guaranteed deferred tax assets also existed in Portugal but in 2018 they lost the guarantee.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Securedtaxassets>
  <bbva:Deferredtaxassetsandliabilities id="ID_192" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deferred tax assets and liabilities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.9pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Deferred Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Deferred Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Deferred Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Deferred Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Deferred Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Deferred Liabilities&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;14,725&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,184&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,878&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,418&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pensions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(795)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;168&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financials Instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(52)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(291)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(367)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(103)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(113)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(55)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(305)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;370&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(385)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(366)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(841)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;255&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Guaranteed Tax assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(70)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(105)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tax Losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Charge for income tax and other taxes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,316&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,046&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;14,725&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,184&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,392&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Deferredtaxassetsandliabilities>
  <bbva:Taxrecognizedintotalequity id="ID_193" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tax recognized in total equity (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Charges to total equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities and others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(87)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(355)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(533)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(74)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(143)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(429)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#2DCCCD;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(535)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(143)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(429)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(535)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Taxrecognizedintotalequity>
  <bbva:Effectivetaxrateexplanatory id="ID_194" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effective Tax Rate (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Income from:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Consolidated Tax Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,482&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(678)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(483)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other Spanish Entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreign Entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,580&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,823&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,392&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income tax and other taxes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,699&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Effective Tax Rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;27.17%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;31.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Effectivetaxrateexplanatory>
  <bbva:Reconciliationoftaxationatthespanishcorporationtaxratetothetaxexpenserecordedfortheperiod id="ID_195" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reconciliation of Taxation at the Spanish Corporation Tax Rate to the Tax Expense Recorded for the Period&amp;#160;  (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:100.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:100.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.9pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Effective Tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Effective Tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Effective Tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Profit or (-) loss before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;8,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;6,392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;From continuing operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Taxation at Spanish corporation tax rate 30%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,534&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,918&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Lower effective tax rate from foreign entities  (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(234)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(307)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(298)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Mexico &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(78)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(105)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Chile &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Colombia &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Peru &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(132)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(182)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(176)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Revenues with lower tax rate (dividends/capital gains)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(69)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity accounted earnings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;452&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Current income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;2,295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;2,169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;1,699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:181.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:181.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Continuing operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Calculated by applying the difference between the tax rate in force in Spain and the one &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;applied to the Group&amp;#8217;s earnin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;gs in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;each jurisdiction.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Reconciliationoftaxationatthespanishcorporationtaxratetothetaxexpenserecordedfortheperiod>
  <bbva:Tableoftaxassetsandliabiltiiesexplanatory id="ID_196" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:480pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:480pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tax assets and liabilities (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Tax assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Current tax assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,853&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deferred tax assets &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,316&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,725&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,391&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Pensions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;395&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,190&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Financial Instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,401&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,453&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,371&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other assets (investments in subsidiaries)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;357&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;662&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Impairment losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,390&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;990&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;870&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,236&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Secured tax assets (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,433&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,431&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Tax losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,111&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,888&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,245&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;Tax Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Current tax liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,230&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,276&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deferred tax liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,046&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,184&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,392&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Financial Instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,136&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,427&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,794&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Charge for income tax and other taxes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;910&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;757&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,598&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,298&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,668&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Law guaranteeing the deferred tax assets has been approved in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Spain in 2013. In years 2016 and 2017 guaranteed deferred tax assets also existed in Portugal but in year 2018 they lost the guarantee due to the merge between BBVA Portugal S.A. and BBVA, S.A.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Tableoftaxassetsandliabiltiiesexplanatory>
  <bbva:Provisionsbreakdownbyconcepts id="ID_197" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions. Breakdown by concepts (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for pensions and similar obligations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,787&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,025&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other long term employee benefits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for taxes and other legal contingencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;686&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;418&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for contingent risks and commitments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;950&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other provisions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;601&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;669&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,609&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,071&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Provisionsbreakdownbyconcepts>
  <bbva:Provisionsforpensionsandsimilarobligationschangesovertheperiod id="ID_198" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for pensions and similar obligations. Changes Over the Year (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,025&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,299&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Add&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Charges to income for the year &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;402&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Interest expenses and similar charges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Personnel expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Provision expenses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Charges to equity &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#808080;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;339&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Transfers and other changes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(264)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Less&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(779)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(861)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(926)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:282pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(103)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(154)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:282pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:282pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,787&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,407&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,025&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Correspond to actuarial losses (gains) arising from certain defined-benefit post-employment pension commitments and other similar benefits recognized in &amp;#8220;Equity&amp;#8221; (see &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Note 2.2.12).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Provisionsforpensionsandsimilarobligationschangesovertheperiod>
  <bbva:TableOflProvisionsForTaxesLegalContingentsAndOtherProvisions id="ID_199" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:14.25pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for Taxes, Legal Contingents and Other Provisions. Changes Over the Year (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at beginning &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,425&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,028&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,771&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;455&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;868&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,109&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unused amounts reversed during the period&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(184)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(311)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:332.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Amount used and other variations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(410)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,306)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(540)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:332.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:332.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance at the end &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,425&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:TableOflProvisionsForTaxesLegalContingentsAndOtherProvisions>
  <bbva:DisclosureOfPlanAssetsBreakdown id="ID_200" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:482.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:482.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Plan Assets Breakdown (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:432pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash or cash equivalents&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities (Government bonds)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,080&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mutual funds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Insurance contracts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:432pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,241&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Bank account in BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:DisclosureOfPlanAssetsBreakdown>
  <bbva:TableOfInvestmentsInListedMarkets id="ID_201" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Investments in listed markets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cash or cash equivalents&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities (Government bonds)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,080&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mutual funds&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,109&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:432.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:432.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Bank account in BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:TableOfInvestmentsInListedMarkets>
  <bbva:Disclosureremunerationofexecutivedirectorsexplanatory id="ID_202" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Annual Fixed Remuneration (thousands of euro), received in 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:433.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:433.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:433.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:433.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Carlos Torres Vila&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,965&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:433.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:433.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;834&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:433.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:433.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,799&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17.25pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Variable remuneration for financial year 2017, received in 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:383.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In cash (1)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(thousands of euro)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In shares (1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:383.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Carlos Torres Vila&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;77,493&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:383.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12,029&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:383.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:383.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;649&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;89,522&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  Remunerations corresponding to the Upfront Portion (40%) of the Annual Variable Remuneration for financial year 2017, 50% in cash and 50% in shares.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:18pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Deferred variable remuneration for financial year 2014, received in 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In cash (1)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(thousands of euro)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In shares (1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Carlos Torres Vila&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;105&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,766&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:382.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Jos&amp;#233; Manuel Gonz&amp;#225;lez-P&amp;#225;ramo Mart&amp;#237;nez-Murillo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,678&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:382.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:382.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;137&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;15,444&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  Remunerations corresponding to the last third of the deferred annual variable remuneration for financial year 2014, 50% in cash and 50% in shares, along with its update in cash.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureremunerationofexecutivedirectorsexplanatory>
  <bbva:Disclosurenumberofsharesexplanatory id="ID_203" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Theoretical shares allocated in 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Theoretical shares accumulated as at 31 December 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Tom&amp;#225;s Alfaro Drake&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83,449&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Jos&amp;#233; Miguel Andr&amp;#233;s Torrecillas&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,755&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,565&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Bel&amp;#233;n Garijo L&amp;#243;pez&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,865&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,641&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Sunir Kumar Kapoor&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,811&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,976&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Carlos Loring Mart&amp;#237;nez de Irujo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,985&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;98,876&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Lourdes M&amp;#225;iz Carro&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,160&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Jos&amp;#233; Maldonado Ramos&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78,995&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Juan Pi Llorens&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,562&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54,171&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:276.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Susana Rodr&amp;#237;guez Vidarte&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,425&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;104,983&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;90,400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;523,816&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;(1)  I&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n addition, in 2018, 10,188 &amp;quot;theoretical shares&amp;quot; were allocated to Jos&amp;#233; Antonio Fern&amp;#225;ndez Rivero&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, who stepped down as a director on 16&amp;#160;March 2018.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosurenumberofsharesexplanatory>
  <bbva:Disclosureremunerationformembersoftheseniormanagementexplanatory id="ID_204" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:485.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:485.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Annual Fixed Remuneration (thousands of euro) received in 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:366pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:366pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:366pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:366pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Senior Management total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:119.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:119.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16,129&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17.25pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:478.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:478.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Annual Variable Remuneration for the 2017 financial year, received in 2018 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:292.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In cash&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(thousands of euro)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In shares&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Senior Management total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,489&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;205,104&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:18pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:478.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:478.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Deferred variable remuneration for the 2014 financial year, received in 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:292.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In cash&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(thousands of euro)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In shares&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Senior Management total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;64,853&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureremunerationformembersoftheseniormanagementexplanatory>
  <bbva:Tableofconsolidatedstatementofcashflow id="ID_205" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16.5pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Liabilities from financing activities (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cash flows &lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:201pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:201pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Non-cash changes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Acquisition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Disposal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Foreign exchange movement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair value changes&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;50,635 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(1,621)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(1,900)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(779)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,335 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Subordinated debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;17,443 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;857 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(694)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;29 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,635 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Short-term debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;10,013 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;931 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;81 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,025 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;8,891 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;1,574 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(643)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(1,328)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,495 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#004481;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;86,982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,741&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(3,237)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1,997)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;83,490&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16.5pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:483pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:483pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Liabilities from financing activities (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 31, 2016&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cash flows &lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:201pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:201pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Non-cash changes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;December 31, 2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:#000000;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Acquisition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Disposal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Foreign exchange movement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Fair value changes&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;59,388 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(5,958)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(2,796)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;50,635 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.6pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Subordinated debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;16,987 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;1,679 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(1,223)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;17,443 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:131.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Short-term debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;11,556 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(1,319)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(224)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;10,013 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:131.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;10,179 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(378)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(910)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;8,891 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:131.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;background-color:#004481;border-color:Black;min-width:131.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;98,111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(5,976)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(5,153)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#004481;border-color:Black;min-width:50.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;86,982&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofconsolidatedstatementofcashflow>
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  <ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading id="ID_2053" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OfwhichotcderivativeswithotherfinancialinstitutionsMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">9207000000</ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading>
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  <ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading id="ID_2056" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OfwhichotcderivativeswithrestofcounterpartiesMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">2986000000</ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading>
  <ifrs-full:NotionalAmount id="ID_2057" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OfwhichotcderivativeswithrestofcounterpartiesMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">128722000000</ifrs-full:NotionalAmount>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2058" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifrs9Member">includes new classification and measurement requirements for financial assets and liabilities and impairment requirements for financial assets</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
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  <ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading id="ID_2066" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OrganizedmarketoptionsMember_bbva_DerivativesaxisAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="-6">0</ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading>
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  <ifrs-full:TitleOfNewIFRS id="ID_2068" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendeifrs9Member">Amended IFRS 9 &#8211; Prepayment Features with Negative Compensation</ifrs-full:TitleOfNewIFRS>
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  <ifrs-full:DerivativeFinancialAssetsHeldForTrading id="ID_2088" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OrganizedmarketotherMember_bbva_DerivativesaxisAxis_bbva_ForeignexchangeandgoldriskMember" unitRef="EUR" decimals="-6">16000000</ifrs-full:DerivativeFinancialAssetsHeldForTrading>
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  <ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading id="ID_2091" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OrganizedmarketoptionsMember_bbva_DerivativesaxisAxis_bbva_ForeignexchangeandgoldriskMember" unitRef="EUR" decimals="-6">0</ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading>
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  <ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading id="ID_2102" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_CreditspreadoptionMember_bbva_DerivativesaxisAxis_ifrs-full_CreditRiskMember" unitRef="EUR" decimals="-6">0</ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading>
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  <ifrs-full:NotionalAmount id="ID_2108" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OtherMember_bbva_DerivativesaxisAxis_ifrs-full_CreditRiskMember" unitRef="EUR" decimals="-6">1565000000</ifrs-full:NotionalAmount>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2109" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendeifrs9Member">The amendments to IFRS 9 allow entities to measure certain prepayable financial assets with negative compensation at amortized cost or at fair value through other comprehensive income if a specified condition is met, instead of at fair value through profit or loss. The condition is that the financial asset would otherwise meet the criteria of having contractual cash flows that are solely payments of principal and interest but do not meet that condition only as a result of that prepayment feature.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2110" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendeifrs9Member">The amendments should be applied to the accounting periods beginning on or after January 1, 2019, although early application is permitted. The Group has applied this amendment to the accounting period beginning on January 1, 2018 and it has not had a significant impact on the Group&#180;s financial statements.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:TitleOfNewIFRS id="ID_2111" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendedifrs7Member">Amended IFRS 7 - &#8220;Financial instruments: Disclosures&#8221;</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2112" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendedifrs7Member">The IASB modified IFRS 7 in December 2011 to include new disclosures on financial instruments that entities have to provide in the period that they apply IFRS 9 for the first time.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:TitleOfNewIFRS id="ID_2113" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifrs15Member">IFRS 15 - &#8220;Revenue from contracts with customers&#8221;</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2114" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifrs15Member">IFRS 15 contains the principles that an entity shall apply to account for revenue and cash flows arising from a contract with a customer (see Note 2.2.17).
The core principle of IFRS 15 is that a company should recognize revenue to depict the transfer of promised goods or services to the customer in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services, in accordance with contractual agreements (either over time or at a certain time). It is considered that the good or service is transferred when the customer obtains control over it.
The new Standard replaces IAS 18 &#8211; Revenue, IAS 11 - Construction Contracts, IFRIC 13 - Customer Loyalty Programmes, IFRIC 15 - Agreements for the Construction of Real Estate, IFRIC 18 - Transfers of Assets from Customers and SIC 31 &#8211; Revenue-Transactions Involving Advertising Services.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2115" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifrs15Member">This standard has not had a significant impact on the Group's Consolidated Financial Statements.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:TitleOfNewIFRS id="ID_2116" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifrs2Member">IFRS 2 &#8211; &#8220;Classification and Measurement of Share-based Payment Transactions&#8221;</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2117" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifrs2Member">The amendments made to IFRS 2 provide requirements on three different aspects:
When measuring the fair value of a cash-settled share-based payment vesting conditions, other than market conditions, the conditions for the irrevocability shall be taken into account by adjusting the number of awards included in the measurement of the liability arising from the transaction.
A transaction in which an entity settles a share-base payment arrangement net by withholding a specified portion of the equity instruments to meet a statutory tax withholding obligation will be classified as equity settled in its entirety if, without the net settlement feature, the entire share-based payment would otherwise be classified as equity-settled.
In case of modification of a share-based payment from cash-settled to equity-settled, the modification will be accounted for derecognizing the original liability and recognizing in equity the fair value of the equity instruments granted to the extent that services have been rendered up to the modification date; any difference will be recognized immediately in profit or loss.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2118" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifrs2Member">This standard has not had a significant impact on the Group's Consolidated Financial Statements.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:TitleOfNewIFRS id="ID_2119" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendedifrs4Member">Amended IFRS 4 &#8211; &#8220;Insurance Contracts&#8221;</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2120" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendedifrs4Member">The amendments made to IFRS 4 address the temporary accounting consequences of the different effective dates of IFRS 9 and the forthcoming insurance contracts standard, by introducing two optional solutions:
The deferral approach or temporary exemption, that gives entities whose predominant activities are connected with insurance the option to defer the application of IFRS 9 and continue applying IAS 39 until 2021.
The overlay approach, that gives all issuers of insurance contracts the option to recognize in other comprehensive income, rather than profit or loss, the additional accounting volatility that may arise from applying IFRS 9 compared to applying IAS 39 before applying the forthcoming insurance contracts standard.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2121" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendedifrs4Member">This standard has not had a significant impact on the Group's Consolidated Financial Statements.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:TitleOfNewIFRS id="ID_2122" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Smallmodificationiifrs1ifrs28Member">Annual improvements cycle to IFRSs 2014-2016 &#8211; Minor amendments to IFRS 1 and IAS 28</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2123" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Smallmodificationiifrs1ifrs28Member">The annual improvements cycle to IFRSs 2014-2016 includes minor changes and clarifications to IFRS 1- First-time Adoption of International Financial Reporting Standards and IAS 28 &#8211; Investments in Associates and Joint Ventures, which should be applied to the accounting periods beginning on or after January 1, 2018, although early application was permitted for modifications to IAS 28.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2124" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Smallmodificationiifrs1ifrs28Member">This standard has not had a significant impact on the Group's Consolidated Financial Statements.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:TitleOfNewIFRS id="ID_2125" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifric22Member">IFRIC 22 &#8211; Foreign Currency Transactions and Advance Consideration</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2126" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifric22Member">The Interpretation addresses how to determine the date of the transaction, and thus, the exchange rate to use to translate the related asset, expense or income on initial recognition, in circumstances in which a non-monetary prepayment asset or a non-monetary deferred income liability arising from the payment or receipt of advance consideration is recognized in advance of the related asset, income or expense. It requires that the date of the transaction will be the date on which an entity initially recognizes the non-monetary asset or non-monetary liability.

If there are multiple payments or receipts in advance, the entity shall determine a date of the transaction for each payment or receipt of advance consideration.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2127" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifric22Member">This standard has not had a significant impact on the Group's consolidated financial statements.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:TitleOfNewIFRS id="ID_2128" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendednic40Member">Amended IAS 40 &#8211; Investment Property</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2129" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendednic40Member">The amendment states that an entity shall transfer a property to, or from, investment property when, and only when, there is evidence of a change in use. A change in use occurs when the property meets, or ceases to meet, the definition of investment property.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2130" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Beforedecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendednic40Member">This standard has not had a significant impact on the Group's financial statements.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:DerivativeFinancialAssetsHeldForTrading id="ID_2131" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_SubtotalMember_bbva_DerivativesaxisAxis_bbva_CommoditiesriskMember" unitRef="EUR" decimals="-6">6000000</ifrs-full:DerivativeFinancialAssetsHeldForTrading>
  <ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading id="ID_2132" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_SubtotalMember_bbva_DerivativesaxisAxis_bbva_CommoditiesriskMember" unitRef="EUR" decimals="-6">6000000</ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading>
  <ifrs-full:NotionalAmount id="ID_2133" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_SubtotalMember_bbva_DerivativesaxisAxis_bbva_CommoditiesriskMember" unitRef="EUR" decimals="-6">169000000</ifrs-full:NotionalAmount>
  <ifrs-full:DerivativeFinancialAssetsHeldForTrading id="ID_2134" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_SubtotalMember_bbva_DerivativesaxisAxis_bbva_OtherriskMember" unitRef="EUR" decimals="-6">13000000</ifrs-full:DerivativeFinancialAssetsHeldForTrading>
  <ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading id="ID_2135" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_SubtotalMember_bbva_DerivativesaxisAxis_bbva_OtherriskMember" unitRef="EUR" decimals="-6">22000000</ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading>
  <ifrs-full:NotionalAmount id="ID_2136" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_SubtotalMember_bbva_DerivativesaxisAxis_bbva_OtherriskMember" unitRef="EUR" decimals="-6">1065000000</ifrs-full:NotionalAmount>
  <ifrs-full:TitleOfNewIFRS id="ID_2137" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendedifrs10Member">Amended IFRS 10 &#8211; &#8220;Consolidated financial statements&#8221; and IAS 28 amended</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2138" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendedifrs10Member">The amendments to IFRS 10 and IAS 28 establish that when an entity sells or transfers assets which are considered a business (including its consolidated subsidiaries) to an associate or joint venture of the entity, the latter will have to recognize any gains or losses derived from such transaction in its entirety. Notwithstanding, if the assets sold or transferred are not considered a business, the entity will have to recognize the gains or losses derived only to the extent of the interests in the associate or joint venture with unrelated investors.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DerivativeFinancialAssetsHeldForTrading id="ID_2139" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_SubtotalMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">42955000000</ifrs-full:DerivativeFinancialAssetsHeldForTrading>
  <ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading id="ID_2140" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_SubtotalMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">43118000000</ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading>
  <ifrs-full:NotionalAmount id="ID_2141" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_SubtotalMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">2092945000000</ifrs-full:NotionalAmount>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2142" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendedifrs10Member">These changes will be applicable to accounting periods beginning on the effective date, still to be determined, although early adoption is allowed.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:TitleOfNewIFRS id="ID_2143" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifrs16Member">IFRS 16 &#8211; &#8220;Leases&#8221;</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DerivativeFinancialAssetsHeldForTrading id="ID_2144" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OfwhichotcderivativeswithcreditinstitutionsMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">26438000000</ifrs-full:DerivativeFinancialAssetsHeldForTrading>
  <ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading id="ID_2145" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OfwhichotcderivativeswithcreditinstitutionsMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">28005000000</ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading>
  <ifrs-full:NotionalAmount id="ID_2146" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OfwhichotcderivativeswithcreditinstitutionsMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">806096000000</ifrs-full:NotionalAmount>
  <ifrs-full:DerivativeFinancialAssetsHeldForTrading id="ID_2147" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OfwhichotcderivativeswithotherfinancialinstitutionsMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">8786000000</ifrs-full:DerivativeFinancialAssetsHeldForTrading>
  <ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading id="ID_2148" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OfwhichotcderivativeswithotherfinancialinstitutionsMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">9362000000</ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading>
  <ifrs-full:NotionalAmount id="ID_2149" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OfwhichotcderivativeswithotherfinancialinstitutionsMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">1023174000000</ifrs-full:NotionalAmount>
  <ifrs-full:DerivativeFinancialAssetsHeldForTrading id="ID_2150" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OfwhichotcderivativeswithrestofcounterpartiesMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">6404000000</ifrs-full:DerivativeFinancialAssetsHeldForTrading>
  <ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading id="ID_2151" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OfwhichotcderivativeswithrestofcounterpartiesMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">4694000000</ifrs-full:DerivativeFinancialLiabilitiesHeldForTrading>
  <ifrs-full:NotionalAmount id="ID_2152" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_BreakdownoftypesofinstrumentaxisAxis_bbva_OfwhichotcderivativeswithrestofcounterpartiesMember_bbva_DerivativesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">175473000000</ifrs-full:NotionalAmount>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2153" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifrs16Member">On January 13, 2016, the IASB issued IFRS 16 which will replace IAS 17 &#8220;Leases&#8221; for financial statements from January 1, 2019 onwards. The new standard introduces a single lessee accounting model and will require a lessee to recognize assets and liabilities for all leases. The only exceptions are short-term contracts and those in which the underlying assets have low value. A lessee will be required to recognize a right-of-use asset representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments.
With regard to lessor accounting, IFRS 16 substantially carries forward the lessor accounting requirements in IAS 17. Accordingly, a lessor will continue to classify its leases as operating leases or finance leases, and account for those two types of leases differently.
During the financial years 2017 and 2018 the Group has carried out a project to implement IFRS 16 with the participation of all affected areas. The standard will mainly affect the accounting of operating leases of the Group.

With regard to the estimated impact on the Consolidated Financial Statements, at the transition date, the Group has decided to apply the modified retrospective approach which requires recognition of a lease liability equal to the present value of the future payments committed on January 1, 2019. Regarding the measurement of the right-of-use asset, the Group has elected to record an amount equal to the lease liability. As a result of this approach, the Group expects to recognize assets for the right-of-use and lease liabilities for an approximate amount of 3,600 million euros mainly coming from the Group&#8217;s activity in Spain as well as from bank branches leases. The estimated impact in terms of capital (CET1) for the Group amounts to -12 basis points.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2154" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifrs16Member">The final impact of adopting the standard as of January 1, 2019 may change because:
the Group has not concluded the tests;
the new accounting policies, methodologies and parameters may be subject to changes until the Group presents its financial statements that include the final impact as of the date of initial application.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:TitleOfNewIFRS id="ID_2155" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifrs17Member">IFRS 17 &#8211; Insurance Contracts</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2156" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifrs17Member">IFRS 17 establishes the principles for the accounting for insurance contracts and supersedes IFRS 4. The new standard introduces a single accounting model for all insurance contracts and requires the entities to use updated assumptions.
An entity shall divide the contracts into groups and recognize and measure groups of insurance contracts at the total of:
the fulfilment cash flows, that comprises the estimate of future cash flows, an adjustment to reflect the time value of money and the financial risk associated with the future cash flows and a risk adjustment for non-financial risk; and
the contractual service margin that represents the unearned profit.
The amounts recognized in the consolidated income statement shall be disaggregated into insurance revenue, insurance service expenses and insurance finance income or expenses. Insurance revenue and insurance service expenses shall exclude any investment components. Insurance revenue shall be recognized over the period the entity provides insurance coverage and in proportion to the value of the provision of coverage that the insurer provides in the period.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2157" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifrs17Member">This Standard will be applied to the accounting years starting on or after January 1, 2021.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:TitleOfNewIFRS id="ID_2158" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifric23Member">IFRIC 23 - Uncertainty over Income Tax Treatments</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2159" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifric23Member">IFRIC 23 provides guidance on how to apply the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments.
If the entity considers that it is probable that the taxation authority will accept an uncertain tax treatment, the Interpretation requires the entity to determine taxable profit (tax loss), tax bases, unused tax losses, unused tax credits or tax rates consistently with the tax treatment used or planned to be used in its income tax filings.

If the entity considers that it is not probable that the taxation authority will accept an uncertain tax treatment, the Interpretation requires the entity to use the most likely amount or the expected value (sum of the probability. weighted amounts in a range of possible outcomes) in determining taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates. The method used should be the method that the entity expects to provide the better prediction of the resolution of the uncertainty.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2160" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Ifric23Member">The interpretation will be applied to the accounting periods beginning on or after January 1, 2019.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:TitleOfNewIFRS id="ID_2161" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendedias28Member">Amended IAS 28 &#8211; Long-term Interests in Associates and Joint Ventures</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2162" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendedias28Member">The amendments to IAS 28 clarify that an entity is required to apply IFRS 9 to long term interests in an associate or joint venture that, in substance, form part of the net investment in the associate or joint venture but to which the equity method is not applied.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2163" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendedias28Member">The amendments will be applied to the accounting periods beginning on or after January 1, 2019.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:CashAndCashEquivalents id="ID_2164" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_TypeofcashcashbalancesatcentralbanksandotherdemanddepositsAxis_bbva_CashonhandMember" unitRef="EUR" decimals="-6">6346000000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents id="ID_2165" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_TypeofcashcashbalancesatcentralbanksandotherdemanddepositsAxis_bbva_CashonhandMember" unitRef="EUR" decimals="-6">6220000000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents id="ID_2166" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofcashcashbalancesatcentralbanksandotherdemanddepositsAxis_bbva_CashonhandMember" unitRef="EUR" decimals="-6">7413000000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents id="ID_2167" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_TypeofcashcashbalancesatcentralbanksandotherdemanddepositsAxis_bbva_CashbalanceatcentralbanksMember" unitRef="EUR" decimals="-6">43880000000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents id="ID_2168" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_TypeofcashcashbalancesatcentralbanksandotherdemanddepositsAxis_bbva_CashbalanceatcentralbanksMember" unitRef="EUR" decimals="-6">31718000000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents id="ID_2169" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofcashcashbalancesatcentralbanksandotherdemanddepositsAxis_bbva_CashbalanceatcentralbanksMember" unitRef="EUR" decimals="-6">28671000000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents id="ID_2170" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_TypeofcashcashbalancesatcentralbanksandotherdemanddepositsAxis_bbva_OtherdemanddepositsMember" unitRef="EUR" decimals="-6">7970000000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents id="ID_2171" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_TypeofcashcashbalancesatcentralbanksandotherdemanddepositsAxis_bbva_OtherdemanddepositsMember" unitRef="EUR" decimals="-6">4742000000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents id="ID_2172" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofcashcashbalancesatcentralbanksandotherdemanddepositsAxis_bbva_OtherdemanddepositsMember" unitRef="EUR" decimals="-6">3955000000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:TitleOfNewIFRS id="ID_2173" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendednic19Member">Amended IAS 19 &#8211; Plan Amendment, Curtailment or Settlement</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2174" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendednic19Member">The small amendments in IAS 19 concern the cases if a plan is amended, curtailed or settled during the period. In these cases, an entity should ensure that the current service cost and the net interest for the period after the remeasurement are determined using the assumptions used for the remeasurement. In addition, amendments have been included to clarify the effect of a plan amendment, curtailment or settlement on the requirements regarding the asset ceiling.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2175" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_Amendednic19Member">The amendments will be applied to the accounting periods beginning on or after January 1, 2019.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <bbva:Debtinstrumentsatfairvaluethroughothercomprehensiveincome id="ID_2176" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">53737000000</bbva:Debtinstrumentsatfairvaluethroughothercomprehensiveincome>
  <bbva:Debtinstrumentsatfairvaluethroughothercomprehensiveincome id="ID_2177" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">66273000000</bbva:Debtinstrumentsatfairvaluethroughothercomprehensiveincome>
  <bbva:Debtinstrumentsatfairvaluethroughothercomprehensiveincome id="ID_2178" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">74739000000</bbva:Debtinstrumentsatfairvaluethroughothercomprehensiveincome>
  <bbva:Impairmentlossesofdebtinstrumentsatfairvaluethroughothercomprehensiveincome id="ID_2179" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">-28000000</bbva:Impairmentlossesofdebtinstrumentsatfairvaluethroughothercomprehensiveincome>
  <bbva:Impairmentlossesofdebtinstrumentsatfairvaluethroughothercomprehensiveincome id="ID_2180" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">-21000000</bbva:Impairmentlossesofdebtinstrumentsatfairvaluethroughothercomprehensiveincome>
  <bbva:Impairmentlossesofdebtinstrumentsatfairvaluethroughothercomprehensiveincome id="ID_2181" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">-159000000</bbva:Impairmentlossesofdebtinstrumentsatfairvaluethroughothercomprehensiveincome>
  <bbva:Equityinstrumentsatfairvaluethroughothercomprehensiveincome id="ID_2182" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">2595000000</bbva:Equityinstrumentsatfairvaluethroughothercomprehensiveincome>
  <bbva:Equityinstrumentsatfairvaluethroughothercomprehensiveincome id="ID_2183" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">4488000000</bbva:Equityinstrumentsatfairvaluethroughothercomprehensiveincome>
  <bbva:Equityinstrumentsatfairvaluethroughothercomprehensiveincome id="ID_2184" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">4814000000</bbva:Equityinstrumentsatfairvaluethroughothercomprehensiveincome>
  <bbva:Impairmentlossesofequityinstrumentsatfairvaluethroughothercomprehensiveincome id="ID_2185" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">0</bbva:Impairmentlossesofequityinstrumentsatfairvaluethroughothercomprehensiveincome>
  <bbva:Impairmentlossesofequityinstrumentsatfairvaluethroughothercomprehensiveincome id="ID_2186" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">-1264000000</bbva:Impairmentlossesofequityinstrumentsatfairvaluethroughothercomprehensiveincome>
  <bbva:Impairmentlossesofequityinstrumentsatfairvaluethroughothercomprehensiveincome id="ID_2187" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">-174000000</bbva:Impairmentlossesofequityinstrumentsatfairvaluethroughothercomprehensiveincome>
  <bbva:Loansandadvancesatfairvaluethroughothercomprehensiveincome id="ID_2188" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">33000000</bbva:Loansandadvancesatfairvaluethroughothercomprehensiveincome>
  <bbva:Loansandadvancesatfairvaluethroughothercomprehensiveincome id="ID_2189" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">0</bbva:Loansandadvancesatfairvaluethroughothercomprehensiveincome>
  <bbva:Loansandadvancesatfairvaluethroughothercomprehensiveincome id="ID_2190" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">0</bbva:Loansandadvancesatfairvaluethroughothercomprehensiveincome>
  <ifrs-full:TitleOfNewIFRS id="ID_2191" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_AmendedIfrs3Member">Amended IFRS 3 &#8211; Definition of a business</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2192" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_AmendedIfrs3Member">The amendments clarify the difference between the acquisition of a business or the acquisition of a set of assets. To determine whether a transaction is an acquisition of a business, an entity should evaluate and conclude if the two following conditions are fulfilled:
the fair value of the acquired assets is not concentrated in one single asset or group of similar assets.
the entirety of acquired activities and assets includes, as a minimum, an input and a substantial process which, together, contribute to the capacity to create products.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2193" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_AmendedIfrs3Member">The amendments will be applied to the accounting periods beginning on or after January 1, 2020, although early application is permitted.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:TitleOfNewIFRS id="ID_2194" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_AmendedIas1AndIas8Member">Amended IAS 1 and IAS 8 &#8211; Definition of material</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2195" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_AmendedIas1AndIas8Member">The amendments clarify the definition of material in the elaboration of the financial statements by aligning the definition of the conceptual framework, IAS 1 and IAS 8 (which, before the amendments, included similar but not identical definitions). The new definition of material is the following: &#8220;Information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity&#8221;.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
  <ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements id="ID_2196" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_AmendedIas1AndIas8Member">The amendments will be applied to the accounting periods beginning on or after January 1, 2020, although early application is permitted.</ifrs-full:DiscussionOfImpactThatInitialApplicationOfIFRSIsExpectedToHaveOnFinancialStatements>
  <ifrs-full:TitleOfNewIFRS id="ID_2197" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_improvementscycletoIFRSMember">Annual improvements cycle to IFRSs 2015-2017</ifrs-full:TitleOfNewIFRS>
  <ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy id="ID_2198" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DateofapplicationnewifrsAxis_bbva_Afterdecember312018Member_ifrs-full_NewIFRSsAxis_bbva_improvementscycletoIFRSMember">The annual improvements cycle to IFRSs 2015-2017 includes minor changes and clarifications to IFRS 3- Business Combinations, IFRS 11 &#8211; Joint Arrangements, IAS 12 &#8211; Income Taxes and IAS 23 &#8211; Borrowing Costs, which will be applied to the accounting periods beginning on or after January 1, 2019, although early application is permitted.</ifrs-full:DescriptionOfNatureOfImpendingChangeInAccountingPolicy>
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  <ifrs-full:GainsLossesOnNetMonetaryPosition id="ID_2200" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">13000000</ifrs-full:GainsLossesOnNetMonetaryPosition>
  <ifrs-full:GainsLossesOnNetMonetaryPosition id="ID_2201" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">28000000</ifrs-full:GainsLossesOnNetMonetaryPosition>
  <ifrs-full:CashAndCashEquivalents id="ID_2202" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_December2017ias39Member" unitRef="EUR" decimals="-6">42680000000</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents id="ID_2203" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_FinancialinstrumentsclassificationandmeasurementMember" unitRef="EUR" decimals="-6">0</ifrs-full:CashAndCashEquivalents>
  <ifrs-full:CashAndCashEquivalents id="ID_2204" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_ifrs-full_AccumulatedImpairmentMember" unitRef="EUR" decimals="-6">0</ifrs-full:CashAndCashEquivalents>
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  <ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading id="ID_2206" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_December2017ias39Member" unitRef="EUR" decimals="-6">64695000000</ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading>
  <ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading id="ID_2207" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_FinancialinstrumentsclassificationandmeasurementMember" unitRef="EUR" decimals="-6">27159000000</ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading>
  <ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading id="ID_2208" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_ifrs-full_AccumulatedImpairmentMember" unitRef="EUR" decimals="-6">0</ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading>
  <ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading id="ID_2209" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_Openingbalancecurrentyearifrs9Member" unitRef="EUR" decimals="-6">91854000000</ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading>
  <ifrs-full:DerivativeFinancialAssetsHeldForTrading id="ID_2210" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_December2017ias39Member" unitRef="EUR" decimals="-6">35265000000</ifrs-full:DerivativeFinancialAssetsHeldForTrading>
  <ifrs-full:DerivativeFinancialAssetsHeldForTrading id="ID_2211" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_FinancialinstrumentsclassificationandmeasurementMember" unitRef="EUR" decimals="-6">0</ifrs-full:DerivativeFinancialAssetsHeldForTrading>
  <ifrs-full:DerivativeFinancialAssetsHeldForTrading id="ID_2212" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_ifrs-full_AccumulatedImpairmentMember" unitRef="EUR" decimals="-6">0</ifrs-full:DerivativeFinancialAssetsHeldForTrading>
  <ifrs-full:DerivativeFinancialAssetsHeldForTrading id="ID_2213" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_Openingbalancecurrentyearifrs9Member" unitRef="EUR" decimals="-6">35265000000</ifrs-full:DerivativeFinancialAssetsHeldForTrading>
  <bbva:Equityinstrumentsheldfortrading id="ID_2214" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_December2017ias39Member" unitRef="EUR" decimals="-6">6801000000</bbva:Equityinstrumentsheldfortrading>
  <bbva:Equityinstrumentsheldfortrading id="ID_2215" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_FinancialinstrumentsclassificationandmeasurementMember" unitRef="EUR" decimals="-6">48000000</bbva:Equityinstrumentsheldfortrading>
  <bbva:Equityinstrumentsheldfortrading id="ID_2216" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_ifrs-full_AccumulatedImpairmentMember" unitRef="EUR" decimals="-6">0</bbva:Equityinstrumentsheldfortrading>
  <bbva:Equityinstrumentsheldfortrading id="ID_2217" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_Openingbalancecurrentyearifrs9Member" unitRef="EUR" decimals="-6">6849000000</bbva:Equityinstrumentsheldfortrading>
  <bbva:Debtinstrumentsheldfortrading id="ID_2218" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_December2017ias39Member" unitRef="EUR" decimals="-6">22573000000</bbva:Debtinstrumentsheldfortrading>
  <bbva:Debtinstrumentsheldfortrading id="ID_2219" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_FinancialinstrumentsclassificationandmeasurementMember" unitRef="EUR" decimals="-6">0</bbva:Debtinstrumentsheldfortrading>
  <bbva:Debtinstrumentsheldfortrading id="ID_2220" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_ifrs-full_AccumulatedImpairmentMember" unitRef="EUR" decimals="-6">0</bbva:Debtinstrumentsheldfortrading>
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  <bbva:Loansandadvancestocentralbanksheldfortrading id="ID_2222" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_December2017ias39Member" unitRef="EUR" decimals="-6">0</bbva:Loansandadvancestocentralbanksheldfortrading>
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  <bbva:Loansandadvancestocentralbanksheldfortrading id="ID_2224" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_ifrs-full_AccumulatedImpairmentMember" unitRef="EUR" decimals="-6">0</bbva:Loansandadvancestocentralbanksheldfortrading>
  <bbva:Loansandadvancestocentralbanksheldfortrading id="ID_2225" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_Openingbalancecurrentyearifrs9Member" unitRef="EUR" decimals="-6">245000000</bbva:Loansandadvancestocentralbanksheldfortrading>
  <bbva:Loansandadvancestobanksheldfortrading id="ID_2226" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_December2017ias39Member" unitRef="EUR" decimals="-6">0</bbva:Loansandadvancestobanksheldfortrading>
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  <bbva:Loansandadvancestobanksheldfortrading id="ID_2228" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_ifrs-full_AccumulatedImpairmentMember" unitRef="EUR" decimals="-6">0</bbva:Loansandadvancestobanksheldfortrading>
  <bbva:Loansandadvancestobanksheldfortrading id="ID_2229" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_Openingbalancecurrentyearifrs9Member" unitRef="EUR" decimals="-6">14895000000</bbva:Loansandadvancestobanksheldfortrading>
  <bbva:Loansandreceivablesheldfortrading id="ID_2230" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_December2017ias39Member" unitRef="EUR" decimals="-6">56000000</bbva:Loansandreceivablesheldfortrading>
  <bbva:Loansandreceivablesheldfortrading id="ID_2231" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_FinancialinstrumentsclassificationandmeasurementMember" unitRef="EUR" decimals="-6">11970000000</bbva:Loansandreceivablesheldfortrading>
  <bbva:Loansandreceivablesheldfortrading id="ID_2232" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_ifrs-full_AccumulatedImpairmentMember" unitRef="EUR" decimals="-6">0</bbva:Loansandreceivablesheldfortrading>
  <bbva:Loansandreceivablesheldfortrading id="ID_2233" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_Openingbalancecurrentyearifrs9Member" unitRef="EUR" decimals="-6">12026000000</bbva:Loansandreceivablesheldfortrading>
  <bbva:Nontradingfinancialassetsatfairvaluethroughprofitorlossmandatorilymeasuredatfairvalue id="ID_2234" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_FinancialinstrumentsclassificationandmeasurementMember" unitRef="EUR" decimals="-6">4451000000</bbva:Nontradingfinancialassetsatfairvaluethroughprofitorlossmandatorilymeasuredatfairvalue>
  <bbva:Nontradingfinancialassetsatfairvaluethroughprofitorlossmandatorilymeasuredatfairvalue id="ID_2235" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_ifrs-full_AccumulatedImpairmentMember" unitRef="EUR" decimals="-6">0</bbva:Nontradingfinancialassetsatfairvaluethroughprofitorlossmandatorilymeasuredatfairvalue>
  <bbva:Nontradingfinancialassetsatfairvaluethroughprofitorlossmandatorilymeasuredatfairvalue id="ID_2236" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_Openingbalancecurrentyearifrs9Member" unitRef="EUR" decimals="-6">4451000000</bbva:Nontradingfinancialassetsatfairvaluethroughprofitorlossmandatorilymeasuredatfairvalue>
  <ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLoss id="ID_2237" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ConsolidatedbalancesheetsummarizedaxisAxis_bbva_December2017ias39Member" unitRef="EUR" decimals="-6">2709000000</ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLoss>
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  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_2831" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_GeneralgovernmentMember_bbva_GeographyavailablelforsaleAxis_country_US" unitRef="EUR" decimals="-6">-133000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
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  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_2899" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">-2000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_2900" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">1659000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_2901" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">3269000000</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets id="ID_2902" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">96000000</bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_2903" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">-54000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_2904" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">3311000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_2905" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherissuersMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">5115000000</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets id="ID_2906" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherissuersMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">161000000</bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_2907" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherissuersMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">-49000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_2908" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherissuersMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">5227000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_2909" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">10041000000</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets id="ID_2910" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">261000000</bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_2911" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">-105000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_2912" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">10197000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_2913" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_GeneralgovernmentMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">7882000000</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
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  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_2915" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_GeneralgovernmentMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="-6">-98000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
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  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_2968" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_TotalstatedebtMember_bbva_GeographyavailablelforsaleAxis_country_US" unitRef="EUR" decimals="-6">1683000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_2969" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_StatesandpoliticalsubdivisionsMember_bbva_GeographyavailablelforsaleAxis_country_US" unitRef="EUR" decimals="-6">6758000000</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
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  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_2971" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_StatesandpoliticalsubdivisionsMember_bbva_GeographyavailablelforsaleAxis_country_US" unitRef="EUR" decimals="-6">-112000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_2972" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_StatesandpoliticalsubdivisionsMember_bbva_GeographyavailablelforsaleAxis_country_US" unitRef="EUR" decimals="-6">6654000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_2973" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyavailablelforsaleAxis_country_US" unitRef="EUR" decimals="-6">14256000000</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets id="ID_2974" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyavailablelforsaleAxis_country_US" unitRef="EUR" decimals="-6">48000000</bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_2975" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyavailablelforsaleAxis_country_US" unitRef="EUR" decimals="-6">-261000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_2976" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyavailablelforsaleAxis_country_US" unitRef="EUR" decimals="-6">14043000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_2977" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherMember_bbva_GeographyavailablelforsaleAxis_country_MX" unitRef="EUR" decimals="-6">1797000000</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets id="ID_2978" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherMember_bbva_GeographyavailablelforsaleAxis_country_MX" unitRef="EUR" decimals="-6">8000000</bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_2979" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherMember_bbva_GeographyavailablelforsaleAxis_country_MX" unitRef="EUR" decimals="-6">-42000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_2980" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherMember_bbva_GeographyavailablelforsaleAxis_country_MX" unitRef="EUR" decimals="-6">1763000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_2981" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_country_MX" unitRef="EUR" decimals="-6">0</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets id="ID_2982" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_country_MX" unitRef="EUR" decimals="-6">0</bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_2983" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_country_MX" unitRef="EUR" decimals="-6">0</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_2984" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_country_MX" unitRef="EUR" decimals="-6">0</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_2985" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_country_MX" unitRef="EUR" decimals="-6">86000000</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
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  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_2988" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_country_MX" unitRef="EUR" decimals="-6">87000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_2989" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherissuersMember_bbva_GeographyavailablelforsaleAxis_country_MX" unitRef="EUR" decimals="-6">1710000000</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
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  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_2991" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherissuersMember_bbva_GeographyavailablelforsaleAxis_country_MX" unitRef="EUR" decimals="-6">-41000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_2992" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherissuersMember_bbva_GeographyavailablelforsaleAxis_country_MX" unitRef="EUR" decimals="-6">1675000000</bbva:Subtotaldebtinstrumentsavailableforsale>
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  <ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities id="ID_3029" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">The BBVA Group is an international diversified financial group with a significant presence in retail banking, wholesale banking, asset management and private banking. The Group also operates in other sectors such as insurance, real estate, operational leasing, etc.</ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities>
  <ifrs-full:PrincipalPlaceOfBusiness id="ID_3030" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">significant presence in retail banking, wholesale banking, asset management and private banking</ifrs-full:PrincipalPlaceOfBusiness>
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Turkey, with active presence in other countries</bbva:Disclosureofmaingeographiesofactivity>
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  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3173" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">25000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3174" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">0</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3175" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">33000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3176" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">4000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3177" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">1000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3178" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">0</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3179" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">5000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3180" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">192000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3181" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">7000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3182" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">-7000000</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3183" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">192000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3184" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofequityinstrumentaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">5248000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3185" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofequityinstrumentaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">355000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3186" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofequityinstrumentaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-962000000</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3187" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofequityinstrumentaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">4641000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Percentageoftotalshare id="ID_3188" contextRef="FROM_Jul01_2018_TO_Jul31_2018_Entity_0000842180_bbva_EntitiesAxis_bbva_BbvachileMember_bbva_TypeofvariationsinthegroupAxis_bbva_DivestituresMember">BBVA owned approximately, directly and indirectly, 68.19% of BBVA Chile share capital</bbva:Percentageoftotalshare>
  <bbva:Contractedpriceinothercurrencies id="ID_3189" contextRef="AS_OF_Jul06_2018_Entity_0000842180_bbva_EntitiesAxis_bbva_BbvachileMember_bbva_TypeofvariationsinthegroupAxis_bbva_DivestituresMember" unitRef="USD" decimals="-6">2200000000</bbva:Contractedpriceinothercurrencies>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3190" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">4483000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3191" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">306000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3192" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">-960000000</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3193" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">3829000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Gainnetoftaxes id="ID_3194" contextRef="AS_OF_Jul06_2018_Entity_0000842180_bbva_EntitiesAxis_bbva_BbvachileMember_bbva_TypeofvariationsinthegroupAxis_bbva_DivestituresMember" unitRef="EUR" decimals="-6">633000000</bbva:Gainnetoftaxes>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3195" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_IssuedinEurosMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">3690000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3196" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_IssuedinEurosMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">17000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3197" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_IssuedinEurosMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">-944000000</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3198" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_IssuedinEurosMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">2763000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3199" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_CreditinstitutionsMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">0</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3200" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_CreditinstitutionsMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">0</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3201" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_CreditinstitutionsMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">0</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3202" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_CreditinstitutionsMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">0</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3203" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherissuersMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">3690000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3204" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherissuersMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">17000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3205" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherissuersMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">-944000000</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3206" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherissuersMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">2763000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3207" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_ListedforeigncompanysharesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">793000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3208" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_ListedforeigncompanysharesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">289000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3209" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_ListedforeigncompanysharesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">-15000000</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3210" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_ListedforeigncompanysharesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">1066000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3211" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_UsaMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">16000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3212" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_UsaMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">22000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3213" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_UsaMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">0</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3214" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_UsaMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">38000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3215" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">8000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3216" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">33000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3217" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">0</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3218" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">41000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3219" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">5000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3220" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">1000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3221" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">0</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3222" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">6000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3223" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">763000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3224" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">234000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3225" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">-15000000</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3226" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_EquityinstrumentslistedMember" unitRef="EUR" decimals="-6">981000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Percentageofequitysale id="ID_3227" contextRef="FROM_Jul01_2018_TO_Jul31_2018_Entity_0000842180_bbva_EntitiesAxis_bbva_BbvachileMember_bbva_TypeofvariationsinthegroupAxis_bbva_DivestituresMember">68.19% of BBVA Chile share capital</bbva:Percentageofequitysale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3228" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">766000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3229" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">48000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3230" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">-3000000</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3231" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">811000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3232" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_IssuedinEurosMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">57000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3233" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_IssuedinEurosMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">2000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3234" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_IssuedinEurosMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">-1000000</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3235" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_IssuedinEurosMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">59000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3236" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_CreditinstitutionsMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">4000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3237" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_CreditinstitutionsMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">0</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3238" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_CreditinstitutionsMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">0</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3239" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_CreditinstitutionsMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">4000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3240" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherissuersMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">53000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3241" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherissuersMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">2000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3242" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherissuersMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">-1000000</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3243" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherissuersMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">55000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3244" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_ListedforeigncompanysharesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">708000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3245" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_ListedforeigncompanysharesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">46000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3246" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_ListedforeigncompanysharesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">-2000000</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3247" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_ListedforeigncompanysharesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">752000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3248" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_UsaMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">537000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3249" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_UsaMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">13000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3250" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_UsaMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">0</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3251" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_UsaMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">550000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3252" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">1000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3253" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">0</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3254" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">0</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3255" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">1000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3256" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">18000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3257" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">7000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3258" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">-2000000</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3259" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">24000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_3260" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">152000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_3261" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">26000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_3262" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">0</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_3263" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_UnlistedequityinstrumentsMember" unitRef="EUR" decimals="-6">178000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Resultofthetransaction id="ID_3264" contextRef="FROM_Oct01_2018_TO_Oct31_2018_Entity_0000842180_bbva_EntitiesAxis_bbva_TotalMember_bbva_TypeofvariationsinthegroupAxis_bbva_RealestateactivityMember">BBVA reached an agreement with a subsidiary of Cerberus Capital Management, L.P. (&#8220;Cerberus&#8221;) for the creation of a &#8220;joint venture&#8221; to which an important part of the real estate business of BBVA in Spain is transferred (the &#8220;Business&#8221;).</bbva:Resultofthetransaction>
  <bbva:Wholebussinesvalue id="ID_3265" contextRef="AS_OF_Oct10_2018_Entity_0000842180_bbva_EntitiesAxis_bbva_TotalMember_bbva_TypeofvariationsinthegroupAxis_bbva_RealestateactivityMember" unitRef="EUR" decimals="-6">5000000000</bbva:Wholebussinesvalue>
  <bbva:Percentageofequitysale id="ID_3266" contextRef="FROM_Oct01_2018_TO_Oct31_2018_Entity_0000842180_bbva_EntitiesAxis_bbva_TotalMember_bbva_TypeofvariationsinthegroupAxis_bbva_RealestateactivityMember">Closing of the transaction has resulted in the sale of 80% of the share capital of the company Divarian Propiedad, S.A. to an entity managed by Cerberus</bbva:Percentageofequitysale>
  <bbva:Resultofthetransaction id="ID_3267" contextRef="FROM_Feb01_2017_TO_Feb28_2017_Entity_0000842180_bbva_EntitiesAxis_bbva_TurkiyegarantiMember_bbva_TypeofvariationsinthegroupAxis_bbva_InvestmentMember">BBVA Group entered into an agreement for the acquisition from Dogus Holding A.S. and Dogus Arastirma Gelistirme ve Musavirlik Hizmetleri A.S of 41,790,000,000 shares of Turkiye Garanti Bankasi, A.S. (&#8220;Garanti Bank&#8221;)</bbva:Resultofthetransaction>
  <bbva:Purchaseoftreasurysharespercentage id="ID_3268" contextRef="FROM_Feb01_2017_TO_Feb28_2017_Entity_0000842180_bbva_EntitiesAxis_bbva_TurkiyegarantiMember_bbva_TypeofvariationsinthegroupAxis_bbva_InvestmentMember">9.95%</bbva:Purchaseoftreasurysharespercentage>
  <bbva:Loansandadvancestocentralbanks id="ID_3269" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">3941000000</bbva:Loansandadvancestocentralbanks>
  <bbva:Loansandadvancestocentralbanks id="ID_3270" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">7300000000</bbva:Loansandadvancestocentralbanks>
  <bbva:Loansandadvancestocentralbanks id="ID_3271" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">8894000000</bbva:Loansandadvancestocentralbanks>
  <bbva:Percentageoftotalshare id="ID_3272" contextRef="FROM_Mar01_2017_TO_Mar31_2017_Entity_0000842180_bbva_EntitiesAxis_bbva_TurkiyegarantiMember_bbva_TypeofvariationsinthegroupAxis_bbva_InvestmentMember">the sale and purchase agreement was completed, and therefore BBVA&#180;s total stake in Garanti Bank as of December 31, 2017 amounts to 49.85%</bbva:Percentageoftotalshare>
  <ifrs-full:LoansAndAdvancesToBanks id="ID_3273" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">9163000000</ifrs-full:LoansAndAdvancesToBanks>
  <ifrs-full:LoansAndAdvancesToBanks id="ID_3274" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">26261000000</ifrs-full:LoansAndAdvancesToBanks>
  <ifrs-full:LoansAndAdvancesToBanks id="ID_3275" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">31373000000</ifrs-full:LoansAndAdvancesToBanks>
  <ifrs-full:LoansAndAdvancesToBanks id="ID_3276" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_OtheraccountsMember" unitRef="EUR" decimals="-6">8685000000</ifrs-full:LoansAndAdvancesToBanks>
  <ifrs-full:LoansAndAdvancesToBanks id="ID_3277" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_OtheraccountsMember" unitRef="EUR" decimals="-6">12400000000</ifrs-full:LoansAndAdvancesToBanks>
  <ifrs-full:LoansAndAdvancesToBanks id="ID_3278" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_OtheraccountsMember" unitRef="EUR" decimals="-6">15812000000</ifrs-full:LoansAndAdvancesToBanks>
  <ifrs-full:LoansAndAdvancesToBanks id="ID_3279" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_ReverserepurchaseagreementsMember" unitRef="EUR" decimals="-6">478000000</ifrs-full:LoansAndAdvancesToBanks>
  <ifrs-full:LoansAndAdvancesToBanks id="ID_3280" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_ReverserepurchaseagreementsMember" unitRef="EUR" decimals="-6">13861000000</ifrs-full:LoansAndAdvancesToBanks>
  <ifrs-full:LoansAndAdvancesToBanks id="ID_3281" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_ReverserepurchaseagreementsMember" unitRef="EUR" decimals="-6">15561000000</ifrs-full:LoansAndAdvancesToBanks>
  <bbva:Resultofthetransaction id="ID_3282" contextRef="FROM_Mar01_2016_TO_Mar31_2016_Entity_0000842180_bbva_EntitiesAxis_bbva_TotalMember_bbva_TypeofvariationsinthegroupAxis_bbva_InvestmentMember">The BBVA Group, at its Board of Directors meeting held on March 31, 2016, adopted a resolution to begin a merger process of BBVA S.A. (absorbing company), Catalunya Banc, S.A., Banco Depositario BBVA, S.A. y Unoe Bank, S.A.
This transaction was part of the corporate reorganization of its banking subsidiaries in Spain, was successfully completed throughout 2016 and has no impact in the Consolidated Financial Statements both from the accounting and the solvency stand points.</bbva:Resultofthetransaction>
  <bbva:Totalloansandadvancestobanksandcreditinstitutions id="ID_3283" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_ImpairmentlossesvaluationadjustmentsMember" unitRef="EUR" decimals="-6">-18000000</bbva:Totalloansandadvancestobanksandcreditinstitutions>
  <bbva:Totalloansandadvancestobanksandcreditinstitutions id="ID_3284" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_ImpairmentlossesvaluationadjustmentsMember" unitRef="EUR" decimals="-6">-36000000</bbva:Totalloansandadvancestobanksandcreditinstitutions>
  <bbva:Totalloansandadvancestobanksandcreditinstitutions id="ID_3285" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_ImpairmentlossesvaluationadjustmentsMember" unitRef="EUR" decimals="-6">-43000000</bbva:Totalloansandadvancestobanksandcreditinstitutions>
  <bbva:Totalloansandadvancestobanksandcreditinstitutions id="ID_3286" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">13104000000</bbva:Totalloansandadvancestobanksandcreditinstitutions>
  <bbva:Totalloansandadvancestobanksandcreditinstitutions id="ID_3287" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">33561000000</bbva:Totalloansandadvancestobanksandcreditinstitutions>
  <bbva:Totalloansandadvancestobanksandcreditinstitutions id="ID_3288" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TypesofloansandadvancesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">40267000000</bbva:Totalloansandadvancestobanksandcreditinstitutions>
  <ifrs-full:LoansAndReceivables id="ID_3289" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_ifrs-full_OnDemandMember" unitRef="EUR" decimals="-6">3641000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3290" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_ifrs-full_OnDemandMember" unitRef="EUR" decimals="-6">10560000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3291" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_ifrs-full_OnDemandMember" unitRef="EUR" decimals="-6">11251000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3292" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_CreditcarddebtMember" unitRef="EUR" decimals="-6">15445000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3293" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_CreditcarddebtMember" unitRef="EUR" decimals="-6">15835000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3294" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_CreditcarddebtMember" unitRef="EUR" decimals="-6">16596000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3295" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_ifrs-full_TradeReceivablesMember" unitRef="EUR" decimals="-6">17436000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3296" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_ifrs-full_TradeReceivablesMember" unitRef="EUR" decimals="-6">22705000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3297" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_ifrs-full_TradeReceivablesMember" unitRef="EUR" decimals="-6">23753000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3298" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_FinancialleaseMember" unitRef="EUR" decimals="-6">8650000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3299" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_FinancialleaseMember" unitRef="EUR" decimals="-6">8642000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3300" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_FinancialleaseMember" unitRef="EUR" decimals="-6">9442000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3301" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_RepurchaseagreementsMember" unitRef="EUR" decimals="-6">294000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3302" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_RepurchaseagreementsMember" unitRef="EUR" decimals="-6">11554000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3303" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_RepurchaseagreementsMember" unitRef="EUR" decimals="-6">7291000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3304" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_OthertermloansMember" unitRef="EUR" decimals="-6">324767000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3305" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_OthertermloansMember" unitRef="EUR" decimals="-6">313336000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3306" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_OthertermloansMember" unitRef="EUR" decimals="-6">339862000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3307" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_AdvancesthatarenotloansMember" unitRef="EUR" decimals="-6">3794000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3308" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_AdvancesthatarenotloansMember" unitRef="EUR" decimals="-6">4989000000</ifrs-full:LoansAndReceivables>
  <ifrs-full:LoansAndReceivables id="ID_3309" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_AdvancesthatarenotloansMember" unitRef="EUR" decimals="-6">6306000000</ifrs-full:LoansAndReceivables>
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  <bbva:Impairedloansandreceivables id="ID_3313" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">16349000000</bbva:Impairedloansandreceivables>
  <bbva:Impairedloansandreceivables id="ID_3314" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">19390000000</bbva:Impairedloansandreceivables>
  <bbva:Impairedloansandreceivables id="ID_3315" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">22915000000</bbva:Impairedloansandreceivables>
  <ifrs-full:ImpairmentLoss id="ID_3316" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-12199000000</ifrs-full:ImpairmentLoss>
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  <ifrs-full:ImpairmentLoss id="ID_3318" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_CounterpartiesloanstocustomersaxisAxis_bbva_CustomersMember_bbva_TypesofloansandreceivablesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-15974000000</ifrs-full:ImpairmentLoss>
  <bbva:Securitizedmortgageassets id="ID_3319" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">26556000000</bbva:Securitizedmortgageassets>
  <bbva:Securitizedmortgageassets id="ID_3320" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">28950000000</bbva:Securitizedmortgageassets>
  <bbva:Securitizedmortgageassets id="ID_3321" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">29512000000</bbva:Securitizedmortgageassets>
  <bbva:Othersecuritizedassets id="ID_3322" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">3221000000</bbva:Othersecuritizedassets>
  <bbva:Othersecuritizedassets id="ID_3323" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">4143000000</bbva:Othersecuritizedassets>
  <bbva:Othersecuritizedassets id="ID_3324" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">3731000000</bbva:Othersecuritizedassets>
  <bbva:Totalsecuritizedassetsloans id="ID_3325" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">29777000000</bbva:Totalsecuritizedassetsloans>
  <bbva:Totalsecuritizedassetsloans id="ID_3326" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">33093000000</bbva:Totalsecuritizedassetsloans>
  <bbva:Totalsecuritizedassetsloans id="ID_3327" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">33243000000</bbva:Totalsecuritizedassetsloans>
  <bbva:Totalgrossdebtsecurities id="ID_3328" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="-6">25014000000</bbva:Totalgrossdebtsecurities>
  <bbva:Totalgrossdebtsecurities id="ID_3329" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="-6">17030000000</bbva:Totalgrossdebtsecurities>
  <bbva:Totalgrossdebtsecurities id="ID_3330" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_GeneralgovernmentMember" unitRef="EUR" decimals="-6">20736000000</bbva:Totalgrossdebtsecurities>
  <bbva:Totalgrossdebtsecurities id="ID_3331" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="-6">644000000</bbva:Totalgrossdebtsecurities>
  <bbva:Totalgrossdebtsecurities id="ID_3332" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="-6">1152000000</bbva:Totalgrossdebtsecurities>
  <bbva:Totalgrossdebtsecurities id="ID_3333" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="-6">1688000000</bbva:Totalgrossdebtsecurities>
  <bbva:Totalgrossdebtsecurities id="ID_3334" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_OtherissuersMember" unitRef="EUR" decimals="-6">6872000000</bbva:Totalgrossdebtsecurities>
  <bbva:Totalgrossdebtsecurities id="ID_3335" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_OtherissuersMember" unitRef="EUR" decimals="-6">5911000000</bbva:Totalgrossdebtsecurities>
  <bbva:Totalgrossdebtsecurities id="ID_3336" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_OtherissuersMember" unitRef="EUR" decimals="-6">6481000000</bbva:Totalgrossdebtsecurities>
  <bbva:Totalgrossdebtsecurities id="ID_3337" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">32530000000</bbva:Totalgrossdebtsecurities>
  <bbva:Totalgrossdebtsecurities id="ID_3338" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">24093000000</bbva:Totalgrossdebtsecurities>
  <bbva:Totalgrossdebtsecurities id="ID_3339" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">28905000000</bbva:Totalgrossdebtsecurities>
  <ifrs-full:ImpairmentLoss id="ID_3340" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-51000000</ifrs-full:ImpairmentLoss>
  <ifrs-full:ImpairmentLoss id="ID_3341" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-15000000</ifrs-full:ImpairmentLoss>
  <ifrs-full:ImpairmentLoss id="ID_3342" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_DisclosureofloansandreceivablesdebtsecuritiesAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-17000000</ifrs-full:ImpairmentLoss>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3343" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aaa1Member" unitRef="EUR" decimals="-6">531000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3344" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aa1Member" unitRef="EUR" decimals="-6">13100000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3345" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA2Member" unitRef="EUR" decimals="-6">222000000</bbva:Subtotaldebtinstrumentsavailableforsale>
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  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3347" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AMember" unitRef="EUR" decimals="-6">632000000</bbva:Subtotaldebtinstrumentsavailableforsale>
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  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3350" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb4Member" unitRef="EUR" decimals="-6">9195000000</bbva:Subtotaldebtinstrumentsavailableforsale>
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  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3352" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb3Member" unitRef="EUR" decimals="-6">1003000000</bbva:Subtotaldebtinstrumentsavailableforsale>
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  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3355" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_TotalexposuresMember" unitRef="EUR" decimals="-6">53709000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:BbvaShareholderRemunerationPolicy id="ID_3356" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">BBVA&#8217;s shareholder remuneration policy communicated in October 2013 established the distribution of an annual pay-out of between 35% and 40% of the profits earned in each year and the progressive reduction of the remuneration via &#8220;Dividend Options&#8221;, so that the shareholders&#8217; remuneration would ultimately be fully in cash. As announced on February 1, 2017, BBVA&#8217;s Board of Directors executed a capital increase to be charged to voluntary reserves for the instrumentation of the last &#8220;Dividend Option&#8221;, being the subsequent shareholders&#8217; remunerations fully in cash, dated March 29, 2017</bbva:BbvaShareholderRemunerationPolicy>
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  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3358" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aa1Member" unitRef="pure" decimals="INF">0.244</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
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  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3363" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A2Member" unitRef="pure" decimals="INF">0.343</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3364" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb4Member" unitRef="pure" decimals="INF">0.171</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3365" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb5Member" unitRef="pure" decimals="INF">0.086</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3366" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb3Member" unitRef="pure" decimals="INF">0.019</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3367" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_BbMember" unitRef="pure" decimals="INF">0.083</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3368" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_WithoutratingMember" unitRef="pure" decimals="INF">0.008</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3369" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_TotalexposuresMember" unitRef="pure" decimals="INF">1</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3370" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aaa1Member" unitRef="EUR" decimals="-6">687000000</bbva:Subtotaldebtinstrumentsavailableforsale>
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  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3372" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA2Member" unitRef="EUR" decimals="-6">507000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3373" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA3Member" unitRef="EUR" decimals="-6">291000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3374" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AMember" unitRef="EUR" decimals="-6">664000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3375" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A1Member" unitRef="EUR" decimals="-6">683000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3376" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A2Member" unitRef="EUR" decimals="-6">1330000000</bbva:Subtotaldebtinstrumentsavailableforsale>
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  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3382" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_TotalexposuresMember" unitRef="EUR" decimals="-6">66251000000</bbva:Subtotaldebtinstrumentsavailableforsale>
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  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3389" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A2Member" unitRef="EUR" decimals="-6">1719000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3390" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb4Member" unitRef="EUR" decimals="-6">29569000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3391" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb5Member" unitRef="EUR" decimals="-6">3233000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3392" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb3Member" unitRef="EUR" decimals="-6">6809000000</bbva:Subtotaldebtinstrumentsavailableforsale>
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  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3394" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_WithoutratingMember" unitRef="EUR" decimals="-6">5261000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_3395" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_TotalexposuresMember" unitRef="EUR" decimals="-6">74580000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <ifrs-full:IssueOfEquity id="ID_3396" contextRef="FROM_Mar01_2017_TO_Mar31_2017_Entity_0000842180" unitRef="EUR" decimals="2">49622955.62</ifrs-full:IssueOfEquity>
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  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3398" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aa1Member" unitRef="pure" decimals="INF">0.162</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3399" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA2Member" unitRef="pure" decimals="INF">0.008</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3400" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA3Member" unitRef="pure" decimals="INF">0.004</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3401" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AMember" unitRef="pure" decimals="INF">0.01</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3402" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A1Member" unitRef="pure" decimals="INF">0.01</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3403" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A2Member" unitRef="pure" decimals="INF">0.02</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3404" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb4Member" unitRef="pure" decimals="INF">0.531</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3405" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb5Member" unitRef="pure" decimals="INF">0.12</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3406" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb3Member" unitRef="pure" decimals="INF">0.084</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3407" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_BbMember" unitRef="pure" decimals="INF">0.024</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3408" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_WithoutratingMember" unitRef="pure" decimals="INF">0.016</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3409" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_TotalexposuresMember" unitRef="pure" decimals="INF">1</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3410" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aaa1Member" unitRef="pure" decimals="INF">0.066</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3411" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aa1Member" unitRef="pure" decimals="INF">0.15</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3412" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA2Member" unitRef="pure" decimals="INF">0.008</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3413" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA3Member" unitRef="pure" decimals="INF">0.008</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3414" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AMember" unitRef="pure" decimals="INF">0.016</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3415" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A1Member" unitRef="pure" decimals="INF">0.1</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3416" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A2Member" unitRef="pure" decimals="INF">0.023</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3417" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb4Member" unitRef="pure" decimals="INF">0.396</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3418" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb5Member" unitRef="pure" decimals="INF">0.043</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3419" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb3Member" unitRef="pure" decimals="INF">0.091</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3420" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_BbMember" unitRef="pure" decimals="INF">0.028</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3421" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_WithoutratingMember" unitRef="pure" decimals="INF">0.071</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_3422" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_TotalexposuresMember" unitRef="pure" decimals="INF">1</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <ifrs-full:NumberOfSharesIssued id="ID_3423" contextRef="AS_OF_Mar29_2017_Entity_0000842180" unitRef="shares" decimals="0">101271338</ifrs-full:NumberOfSharesIssued>
  <bbva:Percentageofownerswhohaveoptedtoreceivenewlyissuedbbvaordinaryshares id="ID_3424" contextRef="FROM_Mar01_2017_TO_Mar31_2017_Entity_0000842180">83.28%</bbva:Percentageofownerswhohaveoptedtoreceivenewlyissuedbbvaordinaryshares>
  <bbva:Percentageofownerswhohaveoptedtoselltherightsoffreeallocationassignedtothemtobbva id="ID_3425" contextRef="FROM_Mar01_2017_TO_Mar31_2017_Entity_0000842180">16.72%</bbva:Percentageofownerswhohaveoptedtoselltherightsoffreeallocationassignedtothemtobbva>
  <bbva:Numberofrightsadquiredbybbva id="ID_3426" contextRef="FROM_Mar01_2017_TO_Mar31_2017_Entity_0000842180" unitRef="shares" decimals="0">1097962903</bbva:Numberofrightsadquiredbybbva>
  <bbva:Totalamountofnumberofsharesadquired id="ID_3427" contextRef="FROM_Mar01_2017_TO_Mar31_2017_Entity_0000842180" unitRef="EUR" decimals="2">143833140.29</bbva:Totalamountofnumberofsharesadquired>
  <bbva:Priceperright id="ID_3428" contextRef="FROM_Mar01_2017_TO_Mar31_2017_Entity_0000842180" unitRef="EURSHARE" decimals="3">0.131</bbva:Priceperright>
  <ifrs-full:IssueOfEquity id="ID_3429" contextRef="FROM_Sep01_2016_TO_Sep30_2016_Entity_0000842180" unitRef="EUR" decimals="2">42266085.33</ifrs-full:IssueOfEquity>
  <ifrs-full:NumberOfSharesIssued id="ID_3430" contextRef="AS_OF_Sep28_2016_Entity_0000842180" unitRef="shares" decimals="0">86257317</ifrs-full:NumberOfSharesIssued>
  <ifrs-full:ParValuePerShare id="ID_3431" contextRef="AS_OF_Mar29_2017_Entity_0000842180" unitRef="EURSHARE" decimals="2">0.49</ifrs-full:ParValuePerShare>
  <ifrs-full:ParValuePerShare id="ID_3432" contextRef="AS_OF_Sep28_2016_Entity_0000842180" unitRef="EURSHARE" decimals="2">0.49</ifrs-full:ParValuePerShare>
  <bbva:Percentageofownerswhohaveoptedtoreceivenewlyissuedbbvaordinaryshares id="ID_3433" contextRef="FROM_Sep01_2016_TO_Sep30_2016_Entity_0000842180">87.85%</bbva:Percentageofownerswhohaveoptedtoreceivenewlyissuedbbvaordinaryshares>
  <bbva:Percentageofownerswhohaveoptedtoselltherightsoffreeallocationassignedtothemtobbva id="ID_3434" contextRef="FROM_Sep01_2016_TO_Sep30_2016_Entity_0000842180">12.15%</bbva:Percentageofownerswhohaveoptedtoselltherightsoffreeallocationassignedtothemtobbva>
  <bbva:Numberofrightsadquiredbybbva id="ID_3435" contextRef="FROM_Sep01_2016_TO_Sep30_2016_Entity_0000842180" unitRef="shares" decimals="0">787374942</bbva:Numberofrightsadquiredbybbva>
  <bbva:Totalamountofnumberofsharesadquired id="ID_3436" contextRef="FROM_Sep01_2016_TO_Sep30_2016_Entity_0000842180" unitRef="EUR" decimals="2">62989995.36</bbva:Totalamountofnumberofsharesadquired>
  <bbva:Priceperright id="ID_3437" contextRef="FROM_Sep01_2016_TO_Sep30_2016_Entity_0000842180" unitRef="EURSHARE" decimals="2">0.08</bbva:Priceperright>
  <ifrs-full:IssueOfEquity id="ID_3438" contextRef="FROM_Mar01_2016_TO_Mar31_2016_Entity_0000842180" unitRef="EUR" decimals="2">55702125.43</ifrs-full:IssueOfEquity>
  <ifrs-full:NumberOfSharesIssued id="ID_3439" contextRef="AS_OF_Mar31_2016_Entity_0000842180" unitRef="shares" decimals="0">113677807</ifrs-full:NumberOfSharesIssued>
  <ifrs-full:ParValuePerShare id="ID_3440" contextRef="AS_OF_Mar31_2016_Entity_0000842180" unitRef="EURSHARE" decimals="2">0.49</ifrs-full:ParValuePerShare>
  <bbva:Percentageofownerswhohaveoptedtoreceivenewlyissuedbbvaordinaryshares id="ID_3441" contextRef="FROM_Mar01_2016_TO_Mar31_2016_Entity_0000842180">82.13%</bbva:Percentageofownerswhohaveoptedtoreceivenewlyissuedbbvaordinaryshares>
  <bbva:Percentageofownerswhohaveoptedtoselltherightsoffreeallocationassignedtothemtobbva id="ID_3442" contextRef="FROM_Mar01_2016_TO_Mar31_2016_Entity_0000842180">17.87%</bbva:Percentageofownerswhohaveoptedtoselltherightsoffreeallocationassignedtothemtobbva>
  <bbva:Numberofrightsadquiredbybbva id="ID_3443" contextRef="FROM_Mar01_2016_TO_Mar31_2016_Entity_0000842180" unitRef="shares" decimals="0">1137500965</bbva:Numberofrightsadquiredbybbva>
  <bbva:Totalamountofnumberofsharesadquired id="ID_3444" contextRef="FROM_Mar01_2016_TO_Mar31_2016_Entity_0000842180" unitRef="EUR" decimals="2">146737624.49</bbva:Totalamountofnumberofsharesadquired>
  <bbva:Priceperright id="ID_3445" contextRef="FROM_Mar01_2016_TO_Mar31_2016_Entity_0000842180" unitRef="EURSHARE" decimals="3">0.129</bbva:Priceperright>
  <ifrs-full:LoansAndAdvancesToCustomers id="ID_3446" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_ifrs-full_GovernmentMember" unitRef="EUR" decimals="-6">28114000000</ifrs-full:LoansAndAdvancesToCustomers>
  <ifrs-full:LoansAndAdvancesToCustomers id="ID_3447" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_ifrs-full_GovernmentMember" unitRef="EUR" decimals="-6">31645000000</ifrs-full:LoansAndAdvancesToCustomers>
  <ifrs-full:LoansAndAdvancesToCustomers id="ID_3448" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_FinancialsocietiesMember" unitRef="EUR" decimals="-6">9468000000</ifrs-full:LoansAndAdvancesToCustomers>
  <ifrs-full:LoansAndAdvancesToCustomers id="ID_3449" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_FinancialsocietiesMember" unitRef="EUR" decimals="-6">18173000000</ifrs-full:LoansAndAdvancesToCustomers>
  <ifrs-full:LoansAndAdvancesToCustomers id="ID_3450" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_NonfinancialsocietiesMember" unitRef="EUR" decimals="-6">163922000000</ifrs-full:LoansAndAdvancesToCustomers>
  <ifrs-full:LoansAndAdvancesToCustomers id="ID_3451" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_NonfinancialsocietiesMember" unitRef="EUR" decimals="-6">164510000000</ifrs-full:LoansAndAdvancesToCustomers>
  <ifrs-full:LoansAndAdvancesToCustomers id="ID_3452" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_RestofclientsMember" unitRef="EUR" decimals="-6">172522000000</ifrs-full:LoansAndAdvancesToCustomers>
  <ifrs-full:LoansAndAdvancesToCustomers id="ID_3453" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_RestofclientsMember" unitRef="EUR" decimals="-6">173293000000</ifrs-full:LoansAndAdvancesToCustomers>
  <bbva:Totalfinancialassetsatamortisedcost id="ID_3454" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">419660000000</bbva:Totalfinancialassetsatamortisedcost>
  <bbva:Totalfinancialassetsatamortisedcost id="ID_3455" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">445275000000</bbva:Totalfinancialassetsatamortisedcost>
  <bbva:Totalfinancialassetsatamortisedcost id="ID_3456" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">483672000000</bbva:Totalfinancialassetsatamortisedcost>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare id="ID_3457" contextRef="FROM_Jun01_2016_TO_Jun30_2016_Entity_0000842180" unitRef="EURSHARE" decimals="2">0.08</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <bbva:Netdividendspaidordinarysharespershare id="ID_3458" contextRef="FROM_Jun01_2016_TO_Jun30_2016_Entity_0000842180" unitRef="EURSHARE" decimals="4">0.0648</bbva:Netdividendspaidordinarysharespershare>
  <ifrs-full:DividendsPaid id="ID_3459" contextRef="FROM_Jul01_2016_TO_Jul31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">517000000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare id="ID_3460" contextRef="FROM_Dec01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EURSHARE" decimals="2">0.08</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <bbva:Netdividendspaidordinarysharespershare id="ID_3461" contextRef="FROM_Dec01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EURSHARE" decimals="4">0.0648</bbva:Netdividendspaidordinarysharespershare>
  <ifrs-full:DividendsPaid id="ID_3462" contextRef="FROM_Feb01_2017_TO_Feb28_2017_Entity_0000842180" unitRef="EUR" decimals="-6">525000000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare id="ID_3463" contextRef="FROM_Sep01_2017_TO_Sep30_2017_Entity_0000842180" unitRef="EURSHARE" decimals="2">0.09</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <bbva:Netdividendspaidordinarysharespershare id="ID_3464" contextRef="FROM_Sep01_2017_TO_Sep30_2017_Entity_0000842180" unitRef="EURSHARE" decimals="4">0.0729</bbva:Netdividendspaidordinarysharespershare>
  <ifrs-full:DividendsPaid id="ID_3465" contextRef="FROM_Oct01_2017_TO_Oct31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">599000000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare id="ID_3466" contextRef="FROM_Mar01_2018_TO_Mar31_2018_Entity_0000842180" unitRef="EURSHARE" decimals="2">0.15</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <bbva:Netdividendspaidordinarysharespershare id="ID_3467" contextRef="FROM_Mar01_2018_TO_Mar31_2018_Entity_0000842180" unitRef="EURSHARE" decimals="4">0.1215</bbva:Netdividendspaidordinarysharespershare>
  <ifrs-full:DividendsPaid id="ID_3468" contextRef="FROM_Apr01_2018_TO_Apr30_2018_Entity_0000842180" unitRef="EUR" decimals="-6">996000000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare id="ID_3469" contextRef="FROM_Sep01_2018_TO_Sep30_2018_Entity_0000842180" unitRef="EURSHARE" decimals="2">0.1</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <bbva:Netdividendspaidordinarysharespershare id="ID_3470" contextRef="FROM_Sep01_2018_TO_Sep30_2018_Entity_0000842180" unitRef="EURSHARE" decimals="4">0.081</bbva:Netdividendspaidordinarysharespershare>
  <ifrs-full:DividendsPaid id="ID_3471" contextRef="FROM_Oct01_2018_TO_Oct31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">663000000</ifrs-full:DividendsPaid>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3472" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAARatingMember" unitRef="EUR" decimals="-6">49000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3473" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAPlusRatingMember" unitRef="EUR" decimals="-6">1969000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3474" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAARatingMember" unitRef="EUR" decimals="-6">62000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3475" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAMinusRatingMember" unitRef="EUR" decimals="-6">0</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3476" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAPlusRatingMember" unitRef="EUR" decimals="-6">607000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3477" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsARatingMember" unitRef="EUR" decimals="-6">21000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3478" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAMinusRatingMember" unitRef="EUR" decimals="-6">6117000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3479" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBPlusRatingMember" unitRef="EUR" decimals="-6">13894000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3480" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBRatingMember" unitRef="EUR" decimals="-6">1623000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3481" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBMinusRatingMember" unitRef="EUR" decimals="-6">2694000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3482" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBPlusRatingMember" unitRef="EUR" decimals="-6">4371000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3483" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_WithoutratingMember" unitRef="EUR" decimals="-6">1123000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3484" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_TotalexposuresMember" unitRef="EUR" decimals="-6">32530000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3485" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAARatingMember" unitRef="EUR" decimals="-6">0</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3486" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAPlusRatingMember" unitRef="EUR" decimals="-6">0</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3487" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAARatingMember" unitRef="EUR" decimals="-6">41000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_3488" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAMinusRatingMember" unitRef="EUR" decimals="-6">0</bbva:Subtotaldebtinstrumentsatamortizedcost>
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  <bbva:Probabilityofdefaultinbasispoints id="ID_4007" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_ReducedscaleMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBRatingMember">B</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4008" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_ReducedscaleMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBMinusRatingMember">B-</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4009" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_ReducedscaleMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCPlusRatingMember">CCC+</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4010" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_ReducedscaleMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCRatingMember">CCC</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4011" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_ReducedscaleMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCMinusRatingMember">CCC-</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4012" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_ReducedscaleMember_ifrs-full_InternalCreditGradesAxis_bbva_StandardpoorsccplusratingmemberMember">CC+</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4013" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_ReducedscaleMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCRatingMember">CC</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4014" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_ReducedscaleMember_ifrs-full_InternalCreditGradesAxis_bbva_BelowratingmemberMember">CC-</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4015" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAAARatingMember">1</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4016" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAAPlusRatingMember">2</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4017" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAARatingMember">3</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4018" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAAMinusRatingMember">4</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4019" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAPlusRatingMember">5</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4020" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsARatingMember">8</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4021" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAMinusRatingMember">10</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4022" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBBPlusRatingMember">14</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4023" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBBRatingMember">20</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4024" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBBMinusRatingMember">31</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4025" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBPlusRatingMember">51</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4026" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBRatingMember">88</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4027" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBMinusRatingMember">150</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4028" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBPlusRatingMember">255</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4029" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBRatingMember">441</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4030" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBMinusRatingMember">785</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4031" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCPlusRatingMember">1,191</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4032" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCRatingMember">1,500</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4033" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCMinusRatingMember">1,890</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4034" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_bbva_StandardpoorsccplusratingmemberMember">2,381</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4035" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCRatingMember">3,000</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4036" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_bbva_BelowratingmemberMember">3,780</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4037" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAAARatingMember">-</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4038" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAAARatingMember">2</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4039" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAAPlusRatingMember">2</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4040" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAAPlusRatingMember">3</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4041" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAARatingMember">3</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4042" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAARatingMember">4</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4043" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAAMinusRatingMember">4</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4044" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAAMinusRatingMember">5</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4045" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAPlusRatingMember">5</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4046" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAPlusRatingMember">6</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4047" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsARatingMember">6</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4048" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsARatingMember">9</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4049" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAMinusRatingMember">9</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4050" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsAMinusRatingMember">11</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4051" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBBPlusRatingMember">11</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4052" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBBPlusRatingMember">17</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4053" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBBRatingMember">17</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4054" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBBRatingMember">24</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4055" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBBMinusRatingMember">24</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4056" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBBMinusRatingMember">39</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4057" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBPlusRatingMember">39</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4058" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBPlusRatingMember">67</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4059" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBRatingMember">67</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4060" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBRatingMember">116</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4061" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBMinusRatingMember">116</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4062" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBBMinusRatingMember">194</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4063" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBPlusRatingMember">194</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4064" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBPlusRatingMember">335</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4065" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBRatingMember">335</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4066" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBRatingMember">581</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4067" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBMinusRatingMember">581</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4068" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBMinusRatingMember">1,061</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4069" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCPlusRatingMember">1,061</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4070" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCPlusRatingMember">1,336</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4071" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCRatingMember">1,336</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4072" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCRatingMember">1,684</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4073" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCMinusRatingMember">1,684</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4074" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCMinusRatingMember">2,121</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4075" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_bbva_StandardpoorsccplusratingmemberMember">2,121</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4076" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_bbva_StandardpoorsccplusratingmemberMember">2,673</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4077" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCRatingMember">2,673</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4078" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_bbva_ExternalratingMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCRatingMember">3,367</bbva:Probabilityofdefaultinbasispoints>
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  <bbva:Probabilityofdefaultinbasispoints id="ID_4081" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from0to2Member">0 to 2</bbva:Probabilityofdefaultinbasispoints>
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  <bbva:Probabilityofdefaultinbasispoints id="ID_4083" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from0to2Member">0.0</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4084" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from2to5Member">2 to 5</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4085" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from2to5Member">10.8</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4086" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from2to5Member">0.1</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4087" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from5to11Member">5 to 11</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4088" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from5to11Member">6.3</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4089" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from5to11Member">0.0</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4090" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from11to39Member">11 to 39</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4091" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from11to39Member">20.9</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4092" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from11to39Member">0.4</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4093" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from39to194Member">39 to 194</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4094" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from39to194Member">30.1</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4095" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from39to194Member">1.8</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4096" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from194to1061Member">194 to 1,061</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4097" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from194to1061Member">12.2</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4098" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from194to1061Member">3.6</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4099" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from1061to2121Member">1,061 to 2,121</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4100" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from1061to2121Member">1.6</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4101" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from1061to2121Member">1.2</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4102" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from2121to4243Member">&gt; 2,021</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4103" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from2121to4243Member">0.2</bbva:Probabilityofdefaultinbasispoints>
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  <bbva:Probabilityofdefaultinbasispoints id="ID_4106" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember">8.3</bbva:Probabilityofdefaultinbasispoints>
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  <ifrs-full:FinancialAssets id="ID_4108" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsthatareeitherpastdueorimpairedclassesoffinancialinstrumentsAxis_ifrs-full_DebtSecuritiesMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_bbva_AssetswithoutsignificantincreaseincreditriskMember_ifrs-full_PastDueStatusAxis_ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember" unitRef="EUR" decimals="-6">0</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets id="ID_4109" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsthatareeitherpastdueorimpairedclassesoffinancialinstrumentsAxis_ifrs-full_DebtSecuritiesMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_bbva_AssetswithoutsignificantincreaseincreditriskMember_ifrs-full_PastDueStatusAxis_ifrs-full_LaterThanThreeMonthsMember" unitRef="EUR" decimals="-6">0</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets id="ID_4110" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsthatareeitherpastdueorimpairedclassesoffinancialinstrumentsAxis_ifrs-full_DebtSecuritiesMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_bbva_AssetssignificantlyincreasedincreditriskMember_ifrs-full_PastDueStatusAxis_ifrs-full_CurrentMember" unitRef="EUR" decimals="-6">0</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets id="ID_4111" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsthatareeitherpastdueorimpairedclassesoffinancialinstrumentsAxis_ifrs-full_DebtSecuritiesMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_bbva_AssetssignificantlyincreasedincreditriskMember_ifrs-full_PastDueStatusAxis_ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember" unitRef="EUR" decimals="-6">0</ifrs-full:FinancialAssets>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4413" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">122000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4414" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">96000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4415" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">1695000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4416" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">585000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4417" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">19000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4418" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">1488000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4419" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">1624000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4420" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">459000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4421" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">315000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4422" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">113000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4423" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">147000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4424" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">834000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4425" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">204000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4426" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">128000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4427" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">5000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4428" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">31000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4429" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">63000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4430" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">59000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4431" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">386000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4432" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">7838000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4433" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">16359000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4434" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-84000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4435" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-12000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4436" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-22000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4437" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-6260000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4438" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-107000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4439" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-70000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4440" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-1134000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4441" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-446000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4442" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-15000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4443" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-1007000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4444" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-1259000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4445" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-374000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4446" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-204000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4447" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-72000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4448" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-128000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4449" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-624000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4450" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-171000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4451" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-125000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4452" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-7000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4453" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-31000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4454" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-63000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4455" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-41000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4456" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-382000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4457" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-5833000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4458" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-12211000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4459" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.004</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4460" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4461" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4462" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.049</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4463" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.033</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4464" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.019</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4465" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.046</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4466" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.042</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4467" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.018</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4468" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.125</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4469" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.063</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4470" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.047</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4471" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.04</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4472" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.021</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4473" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.021</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4474" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.048</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4475" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.04</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4476" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.04</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4477" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.016</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4478" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.034</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4479" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.014</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4480" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.045</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4481" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.039</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4482" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.044</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4483" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.041</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4484" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">171000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4485" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">11000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4486" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">12000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4487" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">10791000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4488" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">166000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4489" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">177000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4490" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">1239000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4491" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">213000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4492" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">29000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4493" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">2993000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4494" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">1706000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4495" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">441000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4496" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">362000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4497" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">984000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4498" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">1171000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4499" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">252000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4500" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">188000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4501" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">4000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4502" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">31000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4503" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">75000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4504" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">69000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4505" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">690000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4506" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">8417000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4507" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">19401000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4508" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-111000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4509" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-36000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4510" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-26000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4511" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-7538000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4512" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-123000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4513" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-123000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4514" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-955000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4515" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-289000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4516" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-11000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4517" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-1708000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4518" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-1230000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4519" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-353000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4520" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-222000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4521" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-256000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4522" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-1100000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4523" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-183000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4524" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-130000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4525" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-6000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4526" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-25000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4527" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-68000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4528" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-38000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4529" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-716000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4530" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-5073000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4531" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-12784000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4532" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.005</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4533" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.003</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4534" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4535" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.063</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4536" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.043</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4537" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.037</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4538" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.036</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4539" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.018</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4540" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.045</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4541" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.201</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4542" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.059</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4543" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.042</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4544" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.043</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4545" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.17</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4546" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.079</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4547" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.038</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4548" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.063</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4549" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.019</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4550" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.034</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4551" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.017</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4552" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.046</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4553" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.043</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4554" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.047</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4555" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.045</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4556" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">295000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4557" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">10000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4558" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">34000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4559" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">13786000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4560" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">221000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4561" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">126000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4562" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">1569000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4563" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">569000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4564" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">29000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4565" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">5358000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4566" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">1857000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4567" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">442000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4568" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">499000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4569" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">112000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4570" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">1441000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4571" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">442000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4572" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">182000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4573" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">18000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4574" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">58000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4575" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">89000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4576" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">84000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4577" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">691000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4578" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">8801000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4579" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_GrossvaluefinancialassetsimpairedMember" unitRef="EUR" decimals="-6">22925000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4580" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-52000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4581" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-42000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4582" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-82000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4583" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-10192000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4584" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-188000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4585" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-83000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4586" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-1201000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4587" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-402000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4588" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-10000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4589" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-3162000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4590" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-1418000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4591" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-501000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4592" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-273000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4593" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-110000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4594" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-1074000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4595" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-380000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4596" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-107000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4597" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-25000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4598" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-31000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4599" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-88000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4600" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-51000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4601" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-1088000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4602" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-5648000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4603" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_ImpairmentofaccumulatedvalueMember" unitRef="EUR" decimals="-6">-16016000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4604" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.008</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4605" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4606" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.002</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4607" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.074</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4608" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.051</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4609" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.033</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4610" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.045</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4611" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.032</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4612" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.035</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4613" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.263</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4614" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.062</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4615" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.045</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4616" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.059</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4617" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.022</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4618" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.087</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4619" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.06</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4620" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.073</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4621" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.03</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4622" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.054</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4623" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.018</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4624" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.051</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4625" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.042</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4626" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.046</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_4627" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember_bbva_ImpairmentoffinancialassetsloansandadvancessectorsAxis_bbva_PercentagenonperformingloansandadvancesMember" unitRef="pure" decimals="INF">0.05</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <ifrs-full:FinancialAssets id="ID_4628" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">17134000000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets id="ID_4629" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">20590000000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets id="ID_4630" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">23877000000</ifrs-full:FinancialAssets>
  <ifrs-full:FinancialAssets id="ID_4631" contextRef="AS_OF_Dec31_2015_Entity_0000842180" unitRef="EUR" decimals="-6">26103000000</ifrs-full:FinancialAssets>
  <bbva:Additionsofimpairedassets id="ID_4632" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">9792000000</bbva:Additionsofimpairedassets>
  <bbva:Additionsofimpairedassets id="ID_4633" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">10856000000</bbva:Additionsofimpairedassets>
  <bbva:Additionsofimpairedassets id="ID_4634" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">11133000000</bbva:Additionsofimpairedassets>
  <bbva:Decreaseofimpairedassets id="ID_4635" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">-6909000000</bbva:Decreaseofimpairedassets>
  <bbva:Decreaseofimpairedassets id="ID_4636" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">-7771000000</bbva:Decreaseofimpairedassets>
  <bbva:Decreaseofimpairedassets id="ID_4637" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">-7633000000</bbva:Decreaseofimpairedassets>
  <ifrs-full:IncreaseDecreaseInFinancialAssets id="ID_4638" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">2883000000</ifrs-full:IncreaseDecreaseInFinancialAssets>
  <ifrs-full:IncreaseDecreaseInFinancialAssets id="ID_4639" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">3085000000</ifrs-full:IncreaseDecreaseInFinancialAssets>
  <ifrs-full:IncreaseDecreaseInFinancialAssets id="ID_4640" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">3500000000</ifrs-full:IncreaseDecreaseInFinancialAssets>
  <ifrs-full:DecreaseThroughWriteoffFinancialAssets id="ID_4641" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">-5076000000</ifrs-full:DecreaseThroughWriteoffFinancialAssets>
  <ifrs-full:DecreaseThroughWriteoffFinancialAssets id="ID_4642" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">-5758000000</ifrs-full:DecreaseThroughWriteoffFinancialAssets>
  <ifrs-full:DecreaseThroughWriteoffFinancialAssets id="ID_4643" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">-5592000000</ifrs-full:DecreaseThroughWriteoffFinancialAssets>
  <ifrs-full:IncreaseDecreaseThroughForeignExchangeAndOtherMovementsFinancialAssets id="ID_4644" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">-1264000000</ifrs-full:IncreaseDecreaseThroughForeignExchangeAndOtherMovementsFinancialAssets>
  <ifrs-full:IncreaseDecreaseThroughForeignExchangeAndOtherMovementsFinancialAssets id="ID_4645" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">-615000000</ifrs-full:IncreaseDecreaseThroughForeignExchangeAndOtherMovementsFinancialAssets>
  <ifrs-full:IncreaseDecreaseThroughForeignExchangeAndOtherMovementsFinancialAssets id="ID_4646" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">-134000000</ifrs-full:IncreaseDecreaseThroughForeignExchangeAndOtherMovementsFinancialAssets>
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  <ifrs-full:ValueAtRisk id="ID_4740" contextRef="AS_OF_Dec31_2018_Entity_0000842180_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">17000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4741" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="-6">25000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4742" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="-6">10000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4743" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="-6">3000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4744" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="-6">13000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4745" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="-6">-23000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4746" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">27000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4747" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="-6">27000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4748" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="-6">11000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4749" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="-6">2000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4750" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="-6">12000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4751" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="-6">-19000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4752" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">34000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4753" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="-6">23000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4754" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="-6">7000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4755" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="-6">4000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4756" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="-6">14000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4757" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="-6">-26000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4758" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">22000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4759" contextRef="AS_OF_Dec31_2017_Entity_0000842180_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="-6">23000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4760" contextRef="AS_OF_Dec31_2017_Entity_0000842180_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="-6">7000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4761" contextRef="AS_OF_Dec31_2017_Entity_0000842180_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="-6">4000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4762" contextRef="AS_OF_Dec31_2017_Entity_0000842180_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="-6">14000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4763" contextRef="AS_OF_Dec31_2017_Entity_0000842180_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="-6">-26000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4764" contextRef="AS_OF_Dec31_2017_Entity_0000842180_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">22000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4765" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="-6">28000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4766" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="-6">10000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4767" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="-6">4000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4768" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="-6">11000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4769" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="-6">-23000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4770" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">29000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4771" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="-6">30000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4772" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="-6">16000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4773" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="-6">4000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4774" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="-6">11000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4775" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="-6">-23000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4776" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">38000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4777" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="-6">21000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4778" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="-6">10000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4779" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="-6">1000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4780" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="-6">11000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4781" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="-6">-20000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4782" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">23000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4783" contextRef="AS_OF_Dec31_2016_Entity_0000842180_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="-6">29000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4784" contextRef="AS_OF_Dec31_2016_Entity_0000842180_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="-6">7000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4785" contextRef="AS_OF_Dec31_2016_Entity_0000842180_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="-6">2000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4786" contextRef="AS_OF_Dec31_2016_Entity_0000842180_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="-6">12000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4787" contextRef="AS_OF_Dec31_2016_Entity_0000842180_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="-6">-24000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4788" contextRef="AS_OF_Dec31_2016_Entity_0000842180_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">26000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4789" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_GeographyaxisAxis_srt_EuropeMember" unitRef="EUR" decimals="-6">-99000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4790" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_GeographyaxisAxis_country_MX" unitRef="EUR" decimals="-6">-33000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4791" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_GeographyaxisAxis_country_PE" unitRef="EUR" decimals="-6">-11000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4792" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_GeographyaxisAxis_country_VE" unitRef="EUR" decimals="-6">0</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4793" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_GeographyaxisAxis_country_AR" unitRef="EUR" decimals="-6">-5000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4794" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_GeographyaxisAxis_country_CO" unitRef="EUR" decimals="-6">-6000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4795" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_GeographyaxisAxis_country_TK" unitRef="EUR" decimals="-6">-6000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_4796" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_GeographyaxisAxis_bbva_BbvacompassMember" unitRef="EUR" decimals="-6">-1000000</ifrs-full:ValueAtRisk>
  <bbva:Numberofexceptionsintheinternalvarcalculationmodel id="ID_4797" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">0-4 exceptions</bbva:Numberofexceptionsintheinternalvarcalculationmodel>
  <bbva:Levelofconfidencewhenestimatethemaximundailylossofaportfolio id="ID_4798" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">99%</bbva:Levelofconfidencewhenestimatethemaximundailylossofaportfolio>
  <bbva:Timehorizonwhenestimatethemaximundailylossofaportfolio id="ID_4799" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">1-day horizon</bbva:Timehorizonwhenestimatethemaximundailylossofaportfolio>
  <bbva:Perectageimpactonnetinterestincome id="ID_4800" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_srt_EuropeMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">+ (5% - 10%)</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_4801" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_srt_EuropeMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">- (5% - 10%)</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_4802" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_MX_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">+ (0% - 5%)</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_4803" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_MX_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">- (0% - 5%)</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_4804" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_US_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">+ (5% - 10%)</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_4805" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_US_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">- (5% - 10%)</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_4806" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_TK_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">+ (0% - 5%)</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_4807" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_TK_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">- (0% - 5%)</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_4808" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_SA_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">+ (0% - 5%)</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_4809" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_SA_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">- (0% - 5%)</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_4810" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_bbva_BbvagroupMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">+ (0% - 5%)</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonnetinterestincome id="ID_4811" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_bbva_BbvagroupMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">- (0% - 5%)</bbva:Perectageimpactonnetinterestincome>
  <bbva:Perectageimpactonneteconomicvalue id="ID_4812" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_srt_EuropeMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">+ (0% - 5%)</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_4813" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_srt_EuropeMember_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">- (0% - 5%)</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_4814" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_MX_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">+ (0% - 5%)</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_4815" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_MX_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">- (0% - 5%)</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_4816" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_US_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">- (5% - 10%)</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_4817" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_US_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">+ (0% - 5%)</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_4818" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_TK_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">- (0% - 5%)</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_4819" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_TK_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">+ (0% - 5%)</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_4820" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_SA_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointIncreaseMember">- (0% - 5%)</bbva:Perectageimpactonneteconomicvalue>
  <bbva:Perectageimpactonneteconomicvalue id="ID_4821" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GeographyaxismarketriskaxisAxis_country_SA_bbva_MarketInterestRateBasicPointsAxis_bbva_HundredBasicPointDecreaseMember">+ (0% - 5%)</bbva:Perectageimpactonneteconomicvalue>
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  <bbva:Averageltscd id="ID_4955" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_GarantibankmemberMember">122%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_4956" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_GarantibankmemberMember">124%</bbva:Averageltscd>
  <bbva:Averageltscd id="ID_4957" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_LmutypesaxisAxis_bbva_OtherlmumemberMember">99%</bbva:Averageltscd>
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  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4961" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_CashandbalanceswithcentralbanksmemberMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvabancomerMember" unitRef="EUR" decimals="-6">7666000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4962" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_CashandbalanceswithcentralbanksmemberMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvacompassMember" unitRef="EUR" decimals="-6">1667000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4963" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_CashandbalanceswithcentralbanksmemberMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_GarantibankmemberMember" unitRef="EUR" decimals="-6">7633000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4964" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_CashandbalanceswithcentralbanksmemberMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_OtherlmumemberMember" unitRef="EUR" decimals="-6">6677000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4965" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level1tradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvaeurozonememebrMember" unitRef="EUR" decimals="-6">29938000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4966" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level1tradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvabancomerMember" unitRef="EUR" decimals="-6">4995000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
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  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4968" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level1tradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_GarantibankmemberMember" unitRef="EUR" decimals="-6">6502000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4969" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level1tradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_OtherlmumemberMember" unitRef="EUR" decimals="-6">3652000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4970" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvaeurozonememebrMember" unitRef="EUR" decimals="-6">449000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4971" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvabancomerMember" unitRef="EUR" decimals="-6">409000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4972" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvacompassMember" unitRef="EUR" decimals="-6">510000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4973" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_GarantibankmemberMember" unitRef="EUR" decimals="-6">0</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4974" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2atradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_OtherlmumemberMember" unitRef="EUR" decimals="-6">0</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
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  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4976" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2btradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvabancomerMember" unitRef="EUR" decimals="-6">33000000</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
  <ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk id="ID_4977" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsheldformanagingliquidityriskclassesoffinancialinstrumentsAxis_bbva_Level2btradableassetsMember_bbva_DisclosureoffinancialassetsheldformanagingliquidityrisklmutypesAxis_bbva_BbvacompassMember" unitRef="EUR" decimals="-6">0</ifrs-full:FinancialAssetsHeldForManagingLiquidityRisk>
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  <bbva:Financialassetsatfairvaluethroughothercomprehensiveincomebalance id="ID_5095" contextRef="AS_OF_Dec31_2015_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsavailableforsaleMember" unitRef="EUR" decimals="-6">1674000000</bbva:Financialassetsatfairvaluethroughothercomprehensiveincomebalance>
  <bbva:Valuationgainsandlosses id="ID_5096" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsavailableforsaleMember" unitRef="EUR" decimals="-6">321000000</bbva:Valuationgainsandlosses>
  <bbva:Valuationgainsandlosses id="ID_5097" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsavailableforsaleMember" unitRef="EUR" decimals="-6">400000000</bbva:Valuationgainsandlosses>
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  <bbva:Amountstransferredtoincome id="ID_5099" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsavailableforsaleMember" unitRef="EUR" decimals="-6">-1181000000</bbva:Amountstransferredtoincome>
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  <bbva:Incometaxfinancialassetsatfairvalue id="ID_5102" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsavailableforsaleMember" unitRef="EUR" decimals="-6">27000000</bbva:Incometaxfinancialassetsatfairvalue>
  <bbva:Incometaxfinancialassetsatfairvalue id="ID_5103" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_FinancialassetsatfairvaluethroughtothercomprehensiveincomeAxis_bbva_EquityinstrumentsavailableforsaleMember" unitRef="EUR" decimals="-6">-62000000</bbva:Incometaxfinancialassetsatfairvalue>
  <bbva:Debtsecuritiesloansandadvances id="ID_5104" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">32530000000</bbva:Debtsecuritiesloansandadvances>
  <bbva:Debtsecuritiesloansandadvances id="ID_5105" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">24093000000</bbva:Debtsecuritiesloansandadvances>
  <bbva:Debtsecuritiesloansandadvances id="ID_5106" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">28905000000</bbva:Debtsecuritiesloansandadvances>
  <bbva:Loansandadvancestocentralbanks id="ID_5107" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">3941000000</bbva:Loansandadvancestocentralbanks>
  <bbva:Loansandadvancestocentralbanks id="ID_5108" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">7300000000</bbva:Loansandadvancestocentralbanks>
  <bbva:Loansandadvancestocentralbanks id="ID_5109" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">8894000000</bbva:Loansandadvancestocentralbanks>
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  <ifrs-full:LoansAndAdvancesToCustomers id="ID_5113" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureoffinancialassetsatamortisedcostaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">374027000000</ifrs-full:LoansAndAdvancesToCustomers>
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Fair value hedging:
- Fixed-interest debt securities at fair value through other comprehensive income and at amortized cost: The interest rate risk of these securities is hedged using interest rate derivatives (fixed-variable swaps) and forward sales.
- Long-term fixed-interest debt securities issued by the Bank: the interest rate risk of these securities is hedged using interest rate derivatives (fixed-variable swaps).
- Fixed-interest loans: The equity price risk of these instruments is hedged using interest rate derivatives (fixed-variable swaps).
- Fixed-interest and/or embedded derivative deposit portfolio hedges: it covers the interest rate risk through fixed-variable swaps. The valuation of the borrowed deposits corresponding to the interest rate risk is in the heading "Fair value changes of the hedged items in portfolio hedges of interest rate risk&#8221;.
Cash-flow hedges: Most of the hedged items are floating interest-rate loans and asset hedges linked to the inflation of the financial assets at fair value through other comprehensive income portfolio. This risk is hedged using foreign-exchange, interest-rate swaps, inflation and FRA&#8217;s (&#8220;Forward Rate Agreement&#8221;).
Net foreign-currency investment hedges: These hedged risks are foreign-currency investments in the Group&#8217;s foreign subsidiaries. This risk is hedged mainly with foreign-exchange options and forward currency sales and purchases.</ifrs-full:DescriptionOfHedgingInstrumentsUsedToHedgeRiskExposuresAndHowTheyAreUsed>
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  <ifrs-full:InvestmentsInAssociates id="ID_5146" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_JointventuresandassociatesaxisAxis_bbva_MetrovacesapromocinyarrendamientossaMember" unitRef="EUR" decimals="-6">67000000</ifrs-full:InvestmentsInAssociates>
  <ifrs-full:InvestmentsInAssociates id="ID_5147" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_JointventuresandassociatesaxisAxis_bbva_AtombankplcMember" unitRef="EUR" decimals="-6">138000000</ifrs-full:InvestmentsInAssociates>
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  <ifrs-full:InvestmentsInAssociates id="ID_5150" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_JointventuresandassociatesaxisAxis_bbva_DivarianPropiedadSAUMember" unitRef="EUR" decimals="-6">591000000</ifrs-full:InvestmentsInAssociates>
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  <ifrs-full:InvestmentsInAssociates id="ID_5155" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_JointventuresandassociatesaxisAxis_bbva_ServiredsociedadespaolademediosdepagosaMember" unitRef="EUR" decimals="-6">11000000</ifrs-full:InvestmentsInAssociates>
  <ifrs-full:InvestmentsInAssociates id="ID_5156" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_JointventuresandassociatesaxisAxis_bbva_OtherassociatesMember" unitRef="EUR" decimals="-6">159000000</ifrs-full:InvestmentsInAssociates>
  <ifrs-full:InvestmentsInAssociates id="ID_5157" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_JointventuresandassociatesaxisAxis_bbva_OtherassociatesMember" unitRef="EUR" decimals="-6">116000000</ifrs-full:InvestmentsInAssociates>
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  <ifrs-full:InvestmentsInAssociates id="ID_5159" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_JointventuresandassociatesaxisAxis_ifrs-full_AssociatesMember" unitRef="EUR" decimals="-6">1405000000</ifrs-full:InvestmentsInAssociates>
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  <ifrs-full:DisclosureOfNatureAndExtentOfRisksArisingFromInsuranceContractsExplanatory id="ID_5844" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The insurance business is affected by different risks, including those that are related to the BBVA Group such as credit risk, market risk, liquidity risk and operational risk and the methodology &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;for risk measurement applied in the insurance activity is similar (see Note 7), although it has a differentiated management due to the particular characteristics of the insurance business, such as the coverage of contracted obligations and the long term of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; the commitments. Additionally, the insurance business generates certain specific risks, of a probabilistic nature: &lt;/font&gt;&lt;/p&gt;&lt;ul style='margin-top:0pt;' &gt;&lt;li style='list-style:disc;text-align:justify;margin-top:4pt;margin-bottom:0pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Technical risk: arises from deviations in the estimation of the casualty rate of insurances, either in terms of numbers, the amount of such&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt; claims and the timing of its occurrence.&lt;/font&gt;&lt;/li&gt;&lt;li style='list-style:disc;text-align:justify;margin-top:0pt;margin-bottom:4pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;Biometric risk: depending on the deviations in the expected mortality behavior or the survival of the insured persons.&lt;/font&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The insurance industry is highly regulated in each country. In this regard, it should be noted &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;that the insurance industry is undergoing a gradual regulatory transformation through new risk-based capital regulations, which have already been published in several countries.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;margin-left:0pt;' &gt;The most significant provisions recognized by consolidated insurance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;subsidiaries with respect to insurance policies issued by them are under the heading &amp;#8220;Liabilities under insurance and reinsurance contracts&amp;#8221; in the accompanyi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;' &gt;ng consolidated balance sheets.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfNatureAndExtentOfRisksArisingFromInsuranceContractsExplanatory>
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  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5872" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LiabilitiesunderreisuranceandreisuranceAxis_bbva_TotalMember_bbva_SignificantprovisionsrecognizedaxisAxis_bbva_ProvisionForUnpaidClaimsReportedMember" unitRef="EUR" decimals="-6">662000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5873" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LiabilitiesunderreisuranceandreisuranceAxis_bbva_TotalMember_bbva_SignificantprovisionsrecognizedaxisAxis_bbva_ProvisionForUnpaidClaimsReportedMember" unitRef="EUR" decimals="-6">631000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5874" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LiabilitiesunderreisuranceandreisuranceAxis_bbva_TotalMember_bbva_SignificantprovisionsrecognizedaxisAxis_bbva_ProvisionForUnpaidClaimsReportedMember" unitRef="EUR" decimals="-6">691000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5875" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LiabilitiesunderreisuranceandreisuranceAxis_bbva_TotalMember_bbva_SignificantprovisionsrecognizedaxisAxis_bbva_ProvisionsForUnexpiredRisksAndOtherProvisionsMember" unitRef="EUR" decimals="-6">668000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5876" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LiabilitiesunderreisuranceandreisuranceAxis_bbva_TotalMember_bbva_SignificantprovisionsrecognizedaxisAxis_bbva_ProvisionsForUnexpiredRisksAndOtherProvisionsMember" unitRef="EUR" decimals="-6">631000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5877" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LiabilitiesunderreisuranceandreisuranceAxis_bbva_TotalMember_bbva_SignificantprovisionsrecognizedaxisAxis_bbva_ProvisionsForUnexpiredRisksAndOtherProvisionsMember" unitRef="EUR" decimals="-6">635000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5878" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LiabilitiesunderreisuranceandreisuranceAxis_bbva_TotalMember_bbva_SignificantprovisionsrecognizedaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">9834000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5879" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LiabilitiesunderreisuranceandreisuranceAxis_bbva_TotalMember_bbva_SignificantprovisionsrecognizedaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">9223000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5880" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_LiabilitiesunderreisuranceandreisuranceAxis_bbva_TotalMember_bbva_SignificantprovisionsrecognizedaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">9139000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5881" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_NolaterthanoneyearMember" unitRef="EUR" decimals="-6">1686000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5882" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember" unitRef="EUR" decimals="-6">1041000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5883" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_LaterthanthreeyearandnotlaterthantfiveyearsMember" unitRef="EUR" decimals="-6">1822000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5884" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_ifrs-full_LaterThanFiveYearsMember" unitRef="EUR" decimals="-6">5285000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5885" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">9834000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5886" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_NolaterthanoneyearMember" unitRef="EUR" decimals="-6">1560000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5887" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember" unitRef="EUR" decimals="-6">1119000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5888" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_LaterthanthreeyearandnotlaterthantfiveyearsMember" unitRef="EUR" decimals="-6">1502000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5889" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_ifrs-full_LaterThanFiveYearsMember" unitRef="EUR" decimals="-6">5042000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5890" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">9223000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5891" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_NolaterthanoneyearMember" unitRef="EUR" decimals="-6">1705000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5892" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember" unitRef="EUR" decimals="-6">1214000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5893" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_LaterthanthreeyearandnotlaterthantfiveyearsMember" unitRef="EUR" decimals="-6">1482000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5894" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_ifrs-full_LaterThanFiveYearsMember" unitRef="EUR" decimals="-6">4738000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <ifrs-full:LiabilitiesArisingFromInsuranceContracts id="ID_5895" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_MaturityassetsandliabilitiesAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">9139000000</ifrs-full:LiabilitiesArisingFromInsuranceContracts>
  <bbva:Mortalitytable id="ID_5896" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">GRMF 80-2
GKM 80 / GKMF 95
PERMF 2000
PASEM</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5897" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">Tables of the Comisi&#243;n Nacional de Seguros y Fianzas 2000-individual</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5898" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_GroupinsuranceMember">PERMF 2000</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5899" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_GroupinsuranceMember">Tables of the Comisi&#243;n Nacional de Seguros y Fianzas 2000-grupo</bbva:Mortalitytable>
  <bbva:Averagetechnicalinteresttype id="ID_5900" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">0.26%-3.27%</bbva:Averagetechnicalinteresttype>
  <bbva:Averagetechnicalinteresttype id="ID_5901" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">2.50%</bbva:Averagetechnicalinteresttype>
  <bbva:Averagetechnicalinteresttype id="ID_5902" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_ES_bbva_MatematicalreservesinsurancetypeAxis_bbva_GroupinsuranceMember">Depending on the related portfolio</bbva:Averagetechnicalinteresttype>
  <bbva:Averagetechnicalinteresttype id="ID_5903" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_GroupinsuranceMember">5.50%</bbva:Averagetechnicalinteresttype>
  <ifrs-full:ProvisionsForEmployeeBenefits id="ID_5904" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">4787000000</ifrs-full:ProvisionsForEmployeeBenefits>
  <ifrs-full:ProvisionsForEmployeeBenefits id="ID_5905" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">5407000000</ifrs-full:ProvisionsForEmployeeBenefits>
  <ifrs-full:ProvisionsForEmployeeBenefits id="ID_5906" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">6025000000</ifrs-full:ProvisionsForEmployeeBenefits>
  <ifrs-full:ProvisionsForEmployeeBenefits id="ID_5907" contextRef="AS_OF_Dec31_2015_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">6299000000</ifrs-full:ProvisionsForEmployeeBenefits>
  <bbva:Chargestoincomefortheyearprovisionsforpensionsandsimilarobligationsbalance id="ID_5908" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">126000000</bbva:Chargestoincomefortheyearprovisionsforpensionsandsimilarobligationsbalance>
  <bbva:Interestexpenseoncostattributabletopensionfunds id="ID_5909" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">78000000</bbva:Interestexpenseoncostattributabletopensionfunds>
  <ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans id="ID_5910" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">58000000</ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans>
  <bbva:Provisionexpenses id="ID_5911" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-10000000</bbva:Provisionexpenses>
  <bbva:Chargestoincomefortheyearprovisionsforpensionsandsimilarobligationsbalance id="ID_5912" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">391000000</bbva:Chargestoincomefortheyearprovisionsforpensionsandsimilarobligationsbalance>
  <bbva:Interestexpenseoncostattributabletopensionfunds id="ID_5913" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">71000000</bbva:Interestexpenseoncostattributabletopensionfunds>
  <ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans id="ID_5914" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">62000000</ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans>
  <bbva:Provisionexpenses id="ID_5915" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">258000000</bbva:Provisionexpenses>
  <bbva:Chargestoincomefortheyearprovisionsforpensionsandsimilarobligationsbalance id="ID_5916" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">402000000</bbva:Chargestoincomefortheyearprovisionsforpensionsandsimilarobligationsbalance>
  <bbva:Interestexpenseoncostattributabletopensionfunds id="ID_5917" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">96000000</bbva:Interestexpenseoncostattributabletopensionfunds>
  <ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans id="ID_5918" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">67000000</ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans>
  <bbva:Provisionexpenses id="ID_5919" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">239000000</bbva:Provisionexpenses>
  <ifrs-full:GainLossOnRemeasurementOfReimbursementRights id="ID_5920" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">41000000</ifrs-full:GainLossOnRemeasurementOfReimbursementRights>
  <ifrs-full:GainLossOnRemeasurementOfReimbursementRights id="ID_5921" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">140000000</ifrs-full:GainLossOnRemeasurementOfReimbursementRights>
  <ifrs-full:GainLossOnRemeasurementOfReimbursementRights id="ID_5922" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">339000000</ifrs-full:GainLossOnRemeasurementOfReimbursementRights>
  <bbva:Transfersandotherchangesprovisionsforpensionsandsimilarobligationsbalance id="ID_5923" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">95000000</bbva:Transfersandotherchangesprovisionsforpensionsandsimilarobligationsbalance>
  <bbva:Transfersandotherchangesprovisionsforpensionsandsimilarobligationsbalance id="ID_5924" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-264000000</bbva:Transfersandotherchangesprovisionsforpensionsandsimilarobligationsbalance>
  <bbva:Transfersandotherchangesprovisionsforpensionsandsimilarobligationsbalance id="ID_5925" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">66000000</bbva:Transfersandotherchangesprovisionsforpensionsandsimilarobligationsbalance>
  <bbva:Benefitpayments id="ID_5926" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-779000000</bbva:Benefitpayments>
  <ifrs-full:EmployerContributions id="ID_5927" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-103000000</ifrs-full:EmployerContributions>
  <bbva:Benefitpayments id="ID_5928" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-861000000</bbva:Benefitpayments>
  <ifrs-full:EmployerContributions id="ID_5929" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-25000000</ifrs-full:EmployerContributions>
  <bbva:Benefitpayments id="ID_5930" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-926000000</bbva:Benefitpayments>
  <ifrs-full:EmployerContributions id="ID_5931" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">-154000000</ifrs-full:EmployerContributions>
  <bbva:Provisionsfortaxeslegalcontingentsandotherprovisionschangesovertheperiod id="ID_5932" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">1286000000</bbva:Provisionsfortaxeslegalcontingentsandotherprovisionschangesovertheperiod>
  <bbva:Provisionsfortaxeslegalcontingentsandotherprovisionschangesovertheperiod id="ID_5933" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">1425000000</bbva:Provisionsfortaxeslegalcontingentsandotherprovisionschangesovertheperiod>
  <bbva:Provisionsfortaxeslegalcontingentsandotherprovisionschangesovertheperiod id="ID_5934" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">2028000000</bbva:Provisionsfortaxeslegalcontingentsandotherprovisionschangesovertheperiod>
  <bbva:Provisionsfortaxeslegalcontingentsandotherprovisionschangesovertheperiod id="ID_5935" contextRef="AS_OF_Dec31_2015_Entity_0000842180" unitRef="EUR" decimals="-6">1771000000</bbva:Provisionsfortaxeslegalcontingentsandotherprovisionschangesovertheperiod>
  <bbva:Chargestoincomefortheyearprovisionsfortaxeslegalcontingentsandotherprovisions id="ID_5936" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">455000000</bbva:Chargestoincomefortheyearprovisionsfortaxeslegalcontingentsandotherprovisions>
  <bbva:Chargestoincomefortheyearprovisionsfortaxeslegalcontingentsandotherprovisions id="ID_5937" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">868000000</bbva:Chargestoincomefortheyearprovisionsfortaxeslegalcontingentsandotherprovisions>
  <bbva:Chargestoincomefortheyearprovisionsfortaxeslegalcontingentsandotherprovisions id="ID_5938" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">1109000000</bbva:Chargestoincomefortheyearprovisionsfortaxeslegalcontingentsandotherprovisions>
  <bbva:Acquisitionofsubsidiaries id="ID_5939" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">0</bbva:Acquisitionofsubsidiaries>
  <bbva:Acquisitionofsubsidiaries id="ID_5940" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">0</bbva:Acquisitionofsubsidiaries>
  <bbva:Acquisitionofsubsidiaries id="ID_5941" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">0</bbva:Acquisitionofsubsidiaries>
  <bbva:UnusedAmountsReversedDuringThePeriod id="ID_5942" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">-184000000</bbva:UnusedAmountsReversedDuringThePeriod>
  <bbva:UnusedAmountsReversedDuringThePeriod id="ID_5943" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">-164000000</bbva:UnusedAmountsReversedDuringThePeriod>
  <bbva:UnusedAmountsReversedDuringThePeriod id="ID_5944" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">-311000000</bbva:UnusedAmountsReversedDuringThePeriod>
  <bbva:Amountusedandothervariations id="ID_5945" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">-410000000</bbva:Amountusedandothervariations>
  <bbva:Amountusedandothervariations id="ID_5946" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">-1306000000</bbva:Amountusedandothervariations>
  <bbva:Amountusedandothervariations id="ID_5947" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">-540000000</bbva:Amountusedandothervariations>
  <bbva:Descriptionofthelegalsituationoftheclausesoflimitationofinterestratesinmortgageloanswithconsumers id="ID_5948" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180">The financial sector faces an environment of increasing regulatory and litigious pressure. In this environment, the different Group&#8217;s entities are often parties to individual or collective legal proceedings arising from the ordinary activity of their businesses. In accordance with the procedural status of these proceedings and according to the criteria of the attorneys who manage them, BBVA considers that none of them is material, individually or in aggregate, and that no significant impact will derive from them neither in the results of operations nor on liquidity, nor in the financial position at a consolidated level of the Group, as at the level of the individual Bank. The Group Management considers that the provisions made in connection with these legal proceedings are adequate.</bbva:Descriptionofthelegalsituationoftheclausesoflimitationofinterestratesinmortgageloanswithconsumers>
  <ifrs-full:IssuedCapital id="ID_5949" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureofclassesofsharecapitalAxis_ifrs-full_OrdinarySharesMember" unitRef="EUR" decimals="1">3267264424.2</ifrs-full:IssuedCapital>
  <ifrs-full:NumberOfSharesIssuedAndFullyPaid id="ID_5950" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureofclassesofsharecapitalAxis_ifrs-full_OrdinarySharesMember" unitRef="shares" decimals="0">6667886580</ifrs-full:NumberOfSharesIssuedAndFullyPaid>
  <ifrs-full:ParValuePerShare id="ID_5951" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureofclassesofsharecapitalAxis_ifrs-full_OrdinarySharesMember" unitRef="EURSHARE" decimals="2">0.49</ifrs-full:ParValuePerShare>
  <ifrs-full:RightsPreferencesAndRestrictionsAttachingToClassOfShareCapital id="ID_5952" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofclassesofsharecapitalAxis_ifrs-full_OrdinarySharesMember">The Bank&#8217;s shares are traded on the stock markets of Madrid, Barcelona, Bilbao and Valencia through the Sistema de Interconexi&#243;n Burs&#225;til Espa&#241;ol (Mercado Continuo), as well as on the London and Mexico stock markets. BBVA American Depositary Shares (ADSs) traded on the New York Stock Exchange.
Additionally, as of December 31, 2018, the shares of BBVA Banco Continental, S.A.; Banco Provincial, S.A.; BBVA Colombia, S.A.; BBVA Banco Franc&#233;s, S.A. and Turkiye Garanti Bankasi A.S., were listed on their respective local stock markets. BBVA Banco Franc&#233;s, S.A. was also quoted in the Latin American market (Latibex) of the Madrid Stock Exchange and the New York Stock Exchange.
As of December 31, 2018, State Street Bank and Trust Co., Chase Nominees Ltd and The Bank of New York Mellon SA NV in their capacity as international custodian/depositary banks, held 10.69%, 6.33%, and 2.31% of BBVA common stock, respectively. Of said positions held by the custodian banks, BBVA is not aware of any individual shareholders with direct or indirect holdings greater than or equal to 3% of BBVA common stock outstanding.</ifrs-full:RightsPreferencesAndRestrictionsAttachingToClassOfShareCapital>
  <ifrs-full:RightsPreferencesAndRestrictionsAttachingToClassOfShareCapital id="ID_5953" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_DisclosureofclassesofsharecapitalAxis_ifrs-full_OrdinarySharesMember">On February 4, 2019, Blackrock, Inc. reported to the SEC that, as of December 31, 2018, it beneficially owned 6.6% of BBVA&#8217;s common stock.</ifrs-full:RightsPreferencesAndRestrictionsAttachingToClassOfShareCapital>
  <bbva:Percentageofsharescustodied id="ID_5954" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_CustodianbanksAxis_bbva_StatestreetbankandtrustcoMember">10.69%</bbva:Percentageofsharescustodied>
  <bbva:Percentageofsharescustodied id="ID_5955" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_CustodianbanksAxis_bbva_ChasenomineesltdMember">6.33%</bbva:Percentageofsharescustodied>
  <bbva:Percentageofsharescustodied id="ID_5956" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_CustodianbanksAxis_bbva_ThebankofnewyorkmellonsanvMember">2.31%</bbva:Percentageofsharescustodied>
  <ifrs-full:StatutoryReserve id="ID_5957" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">653000000</ifrs-full:StatutoryReserve>
  <ifrs-full:StatutoryReserve id="ID_5958" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">644000000</ifrs-full:StatutoryReserve>
  <ifrs-full:StatutoryReserve id="ID_5959" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">624000000</ifrs-full:StatutoryReserve>
  <bbva:Restrictedreserves id="ID_5960" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">133000000</bbva:Restrictedreserves>
  <bbva:Restrictedreserves id="ID_5961" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">159000000</bbva:Restrictedreserves>
  <bbva:Restrictedreserves id="ID_5962" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">201000000</bbva:Restrictedreserves>
  <bbva:Voluntaryreserves id="ID_5963" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">8010000000</bbva:Voluntaryreserves>
  <bbva:Voluntaryreserves id="ID_5964" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">8643000000</bbva:Voluntaryreserves>
  <bbva:Voluntaryreserves id="ID_5965" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">8521000000</bbva:Voluntaryreserves>
  <bbva:Totalreservesholdingcompany id="ID_5966" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">8799000000</bbva:Totalreservesholdingcompany>
  <bbva:Totalreservesholdingcompany id="ID_5967" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">9458000000</bbva:Totalreservesholdingcompany>
  <bbva:Totalreservesholdingcompany id="ID_5968" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">9366000000</bbva:Totalreservesholdingcompany>
  <bbva:Consolidationreservesattributedtothebankanddependentsconsolidatedcompanies id="ID_5969" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">14164000000</bbva:Consolidationreservesattributedtothebankanddependentsconsolidatedcompanies>
  <bbva:Consolidationreservesattributedtothebankanddependentsconsolidatedcompanies id="ID_5970" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">14132000000</bbva:Consolidationreservesattributedtothebankanddependentsconsolidatedcompanies>
  <bbva:Consolidationreservesattributedtothebankanddependentsconsolidatedcompanies id="ID_5971" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">12439000000</bbva:Consolidationreservesattributedtothebankanddependentsconsolidatedcompanies>
  <bbva:Totalretainedearningsrevaluationreservesandotherreserves id="ID_5972" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">22963000000</bbva:Totalretainedearningsrevaluationreservesandotherreserves>
  <bbva:Totalretainedearningsrevaluationreservesandotherreserves id="ID_5973" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">23590000000</bbva:Totalretainedearningsrevaluationreservesandotherreserves>
  <bbva:Totalretainedearningsrevaluationreservesandotherreserves id="ID_5974" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">21805000000</bbva:Totalretainedearningsrevaluationreservesandotherreserves>
  <bbva:Restrictedreserveforretiredcapital id="ID_5975" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">88000000</bbva:Restrictedreserveforretiredcapital>
  <bbva:Restrictedreserveforretiredcapital id="ID_5976" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">88000000</bbva:Restrictedreserveforretiredcapital>
  <bbva:Restrictedreserveforretiredcapital id="ID_5977" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">88000000</bbva:Restrictedreserveforretiredcapital>
  <bbva:Restrictedreserveforparentcompanysharesandloansforthoseshares id="ID_5978" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">44000000</bbva:Restrictedreserveforparentcompanysharesandloansforthoseshares>
  <bbva:Restrictedreserveforparentcompanysharesandloansforthoseshares id="ID_5979" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">69000000</bbva:Restrictedreserveforparentcompanysharesandloansforthoseshares>
  <bbva:Restrictedreserveforparentcompanysharesandloansforthoseshares id="ID_5980" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">111000000</bbva:Restrictedreserveforparentcompanysharesandloansforthoseshares>
  <bbva:Restrictedreserveforredonominationofcapitalineuro id="ID_5981" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">2000000</bbva:Restrictedreserveforredonominationofcapitalineuro>
  <bbva:Restrictedreserveforredonominationofcapitalineuro id="ID_5982" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">2000000</bbva:Restrictedreserveforredonominationofcapitalineuro>
  <bbva:Restrictedreserveforredonominationofcapitalineuro id="ID_5983" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">2000000</bbva:Restrictedreserveforredonominationofcapitalineuro>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5984" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_HoldingcompanyMember" unitRef="EUR" decimals="-6">14643000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5985" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_HoldingcompanyMember" unitRef="EUR" decimals="-6">15625000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5986" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_HoldingcompanyMember" unitRef="EUR" decimals="-6">14101000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5987" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvabancomerMember" unitRef="EUR" decimals="-6">10014000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5988" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvabancomerMember" unitRef="EUR" decimals="-6">9442000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5989" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvabancomerMember" unitRef="EUR" decimals="-6">9108000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5990" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BbvasegurossaMember" unitRef="EUR" decimals="-6">-127000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5991" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BbvasegurossaMember" unitRef="EUR" decimals="-6">-215000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5992" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BbvasegurossaMember" unitRef="EUR" decimals="-6">-62000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5993" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_CorporacingeneralfinancierasaMember" unitRef="EUR" decimals="-6">1084000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5994" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_CorporacingeneralfinancierasaMember" unitRef="EUR" decimals="-6">1202000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5995" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_CorporacingeneralfinancierasaMember" unitRef="EUR" decimals="-6">1187000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5996" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvabancoprovincialMember" unitRef="EUR" decimals="-6">-124000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5997" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvabancoprovincialMember" unitRef="EUR" decimals="-6">-113000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5998" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvabancoprovincialMember" unitRef="EUR" decimals="-6">-92000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_5999" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvachileMember" unitRef="EUR" decimals="-6">552000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6000" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvachileMember" unitRef="EUR" decimals="-6">951000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6001" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvachileMember" unitRef="EUR" decimals="-6">1264000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6002" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BbvaparaguayMember" unitRef="EUR" decimals="-6">119000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6003" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BbvaparaguayMember" unitRef="EUR" decimals="-6">108000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6004" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BbvaparaguayMember" unitRef="EUR" decimals="-6">98000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6005" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_CompaadecarteraeinversionessaMember" unitRef="EUR" decimals="-6">108000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6006" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_CompaadecarteraeinversionessaMember" unitRef="EUR" decimals="-6">-20000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6007" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_CompaadecarteraeinversionessaMember" unitRef="EUR" decimals="-6">-27000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6008" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_AnidagrupoinmobiliarioslMember" unitRef="EUR" decimals="-6">363000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6009" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_AnidagrupoinmobiliarioslMember" unitRef="EUR" decimals="-6">515000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6010" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_AnidagrupoinmobiliarioslMember" unitRef="EUR" decimals="-6">528000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6011" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BbvasuizasaMember" unitRef="EUR" decimals="-6">-53000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6012" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BbvasuizasaMember" unitRef="EUR" decimals="-6">-57000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6013" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BbvasuizasaMember" unitRef="EUR" decimals="-6">-1000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6014" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvacontinentalMember" unitRef="EUR" decimals="-6">756000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6015" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvacontinentalMember" unitRef="EUR" decimals="-6">681000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6016" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvacontinentalMember" unitRef="EUR" decimals="-6">611000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6017" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BbvaluxinvestsaMember" unitRef="EUR" decimals="-6">-48000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6018" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BbvaluxinvestsaMember" unitRef="EUR" decimals="-6">25000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6019" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BbvaluxinvestsaMember" unitRef="EUR" decimals="-6">16000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6020" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="-6">998000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6021" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="-6">926000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6022" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="-6">803000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6023" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvabancofrancsMember" unitRef="EUR" decimals="-6">103000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6024" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvabancofrancsMember" unitRef="EUR" decimals="-6">999000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6025" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvabancofrancsMember" unitRef="EUR" decimals="-6">827000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6026" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BancoindustrialdebilbaosaMember" unitRef="EUR" decimals="-6">0</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6027" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BancoindustrialdebilbaosaMember" unitRef="EUR" decimals="-6">25000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6028" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_BancoindustrialdebilbaosaMember" unitRef="EUR" decimals="-6">61000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6029" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_UnoEBankMember" unitRef="EUR" decimals="-6">0</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6030" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_UnoEBankMember" unitRef="EUR" decimals="-6">0</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6031" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_UnoEBankMember" unitRef="EUR" decimals="-6">0</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
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  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6033" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GranjorgejuansaMember" unitRef="EUR" decimals="-6">-47000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6034" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GranjorgejuansaMember" unitRef="EUR" decimals="-6">-30000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6035" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvaportugalMember" unitRef="EUR" decimals="-6">-66000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6036" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvaportugalMember" unitRef="EUR" decimals="-6">-436000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_6037" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_GrupobbvaportugalMember" unitRef="EUR" decimals="-6">-477000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
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  <bbva:Treasurysharesheldbycorporacingeneralfinancierasanumberofshares id="ID_6130" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="shares" decimals="INF">13339582</bbva:Treasurysharesheldbycorporacingeneralfinancierasanumberofshares>
  <bbva:Treasurysharesheldbyothersubsidiariesnumberofshares id="ID_6131" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="shares" decimals="INF">0</bbva:Treasurysharesheldbyothersubsidiariesnumberofshares>
  <bbva:Treasurysharesaveragepurchasepriceineurosnumberofshares id="ID_6132" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="shares" decimals="INF">7.03</bbva:Treasurysharesaveragepurchasepriceineurosnumberofshares>
  <bbva:Treasurysharesaveragesellingpriceineurosnumberofshares id="ID_6133" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="shares" decimals="INF">6.99</bbva:Treasurysharesaveragesellingpriceineurosnumberofshares>
  <bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociatesmillionsofeuros id="ID_6134" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">22000000</bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociatesmillionsofeuros>
  <bbva:Treasurysharesheldbycorporacingeneralfinancierasa id="ID_6135" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">26000000</bbva:Treasurysharesheldbycorporacingeneralfinancierasa>
  <bbva:Treasurysharesheldbyothersubsidiaries id="ID_6136" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">0</bbva:Treasurysharesheldbyothersubsidiaries>
  <bbva:Treasurysharesaveragepurchasepriceineuros id="ID_6137" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">0</bbva:Treasurysharesaveragepurchasepriceineuros>
  <bbva:Treasurysharesaveragesellingpriceineuros id="ID_6138" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">0</bbva:Treasurysharesaveragesellingpriceineuros>
  <bbva:Treasurysharesnetgainorlossesontransactions id="ID_6139" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">-30000000</bbva:Treasurysharesnetgainorlossesontransactions>
  <bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociate id="ID_6140" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="shares" decimals="INF">2789894</bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociate>
  <bbva:Treasurysharesheldbycorporacingeneralfinancierasanumberofshares id="ID_6141" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="shares" decimals="INF">4440893</bbva:Treasurysharesheldbycorporacingeneralfinancierasanumberofshares>
  <bbva:Treasurysharesheldbyothersubsidiariesnumberofshares id="ID_6142" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="shares" decimals="INF">0</bbva:Treasurysharesheldbyothersubsidiariesnumberofshares>
  <bbva:Treasurysharesaveragepurchasepriceineurosnumberofshares id="ID_6143" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="shares" decimals="INF">5.27</bbva:Treasurysharesaveragepurchasepriceineurosnumberofshares>
  <bbva:Treasurysharesaveragesellingpriceineurosnumberofshares id="ID_6144" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="shares" decimals="INF">5.5</bbva:Treasurysharesaveragesellingpriceineurosnumberofshares>
  <bbva:Numberofsharesinpledge id="ID_6145" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="shares" decimals="0">61632832</bbva:Numberofsharesinpledge>
  <bbva:Numberofsharesinpledge id="ID_6146" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="shares" decimals="0">64633003</bbva:Numberofsharesinpledge>
  <bbva:Numberofsharesinpledge id="ID_6147" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="shares" decimals="0">90731198</bbva:Numberofsharesinpledge>
  <ifrs-full:ParValuePerShare id="ID_6148" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EURSHARE" decimals="2">0.49</ifrs-full:ParValuePerShare>
  <ifrs-full:ParValuePerShare id="ID_6149" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EURSHARE" decimals="2">0.49</ifrs-full:ParValuePerShare>
  <ifrs-full:ParValuePerShare id="ID_6150" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EURSHARE" decimals="2">0.49</ifrs-full:ParValuePerShare>
  <bbva:Percentagesharecapital id="ID_6151" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="pure" decimals="INF">0.0092</bbva:Percentagesharecapital>
  <bbva:Percentagesharecapital id="ID_6152" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="pure" decimals="INF">0.0097</bbva:Percentagesharecapital>
  <bbva:Percentagesharecapital id="ID_6153" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="pure" decimals="INF">0.0138</bbva:Percentagesharecapital>
  <bbva:Numberofsharesownedbythirdparties id="ID_6154" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="shares" decimals="0">25306229</bbva:Numberofsharesownedbythirdparties>
  <bbva:Numberofsharesownedbythirdparties id="ID_6155" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="shares" decimals="0">34597310</bbva:Numberofsharesownedbythirdparties>
  <bbva:Numberofsharesownedbythirdparties id="ID_6156" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="shares" decimals="0">85766602</bbva:Numberofsharesownedbythirdparties>
  <bbva:Hedgeineffectivenessoffairvaluehedgesforequityinstrumentsmeasuredatfairvaluethroughothercomprehensiveincome id="ID_6157" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">0</bbva:Hedgeineffectivenessoffairvaluehedgesforequityinstrumentsmeasuredatfairvaluethroughothercomprehensiveincome>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6158" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="-6">67000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6159" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="-6">65000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6160" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="-6">67000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6161" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvachileMember" unitRef="EUR" decimals="-6">0</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6162" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvachileMember" unitRef="EUR" decimals="-6">399000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6163" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvachileMember" unitRef="EUR" decimals="-6">377000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6164" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacontinentalMember" unitRef="EUR" decimals="-6">1167000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6165" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacontinentalMember" unitRef="EUR" decimals="-6">1059000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6166" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacontinentalMember" unitRef="EUR" decimals="-6">1059000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6167" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvabancoprovincialMember" unitRef="EUR" decimals="-6">67000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6168" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvabancoprovincialMember" unitRef="EUR" decimals="-6">78000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6169" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvabancoprovincialMember" unitRef="EUR" decimals="-6">97000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6170" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvabancofrancesMember" unitRef="EUR" decimals="-6">352000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6171" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvabancofrancesMember" unitRef="EUR" decimals="-6">420000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6172" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvabancofrancesMember" unitRef="EUR" decimals="-6">243000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6173" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="-6">4058000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6174" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="-6">4903000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6175" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="-6">6157000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6176" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_OtherMember" unitRef="EUR" decimals="-6">53000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6177" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_OtherMember" unitRef="EUR" decimals="-6">55000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6178" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_OtherMember" unitRef="EUR" decimals="-6">64000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6179" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">5764000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6180" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">6979000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_6181" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">8064000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <bbva:Noncontrollinginterest id="ID_6182" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="-6">9000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6183" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="-6">7000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6184" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="-6">9000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6185" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvachileMember" unitRef="EUR" decimals="-6">26000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6186" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvachileMember" unitRef="EUR" decimals="-6">51000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6187" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvachileMember" unitRef="EUR" decimals="-6">40000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6188" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacontinentalMember" unitRef="EUR" decimals="-6">227000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6189" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacontinentalMember" unitRef="EUR" decimals="-6">208000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6190" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacontinentalMember" unitRef="EUR" decimals="-6">193000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6191" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvabancoprovincialMember" unitRef="EUR" decimals="-6">-5000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6192" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvabancoprovincialMember" unitRef="EUR" decimals="-6">-2000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6193" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvabancoprovincialMember" unitRef="EUR" decimals="-6">-2000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6194" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvabancofrancesMember" unitRef="EUR" decimals="-6">-18000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6195" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvabancofrancesMember" unitRef="EUR" decimals="-6">93000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6196" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvabancofrancesMember" unitRef="EUR" decimals="-6">55000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6197" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="-6">585000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6198" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="-6">883000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6199" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="-6">917000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6200" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_OtherMember" unitRef="EUR" decimals="-6">4000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6201" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_OtherMember" unitRef="EUR" decimals="-6">4000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6202" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_OtherMember" unitRef="EUR" decimals="-6">8000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6203" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">827000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6204" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">1244000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_6205" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180_bbva_GroupsAxis_bbva_TotalMember" unitRef="EUR" decimals="-6">1218000000</bbva:Noncontrollinginterest>
  <bbva:Phasedintotalcapitalratioattheindividuallevel id="ID_6206" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalcapitalratiobreakdownAxis_bbva_Minimuncet1capitalratiorequiredunderpilar1Member">Taking into account fully application of capital buffers since January 1, 2019 and considering last capital requirement communicated from ECB, BBVA has to maintain since January 1, 2019  i) a CET1 ratio of 9.26% at consolidated level and ii) a total capital ratio of 12.76% at consolidated level</bbva:Phasedintotalcapitalratioattheindividuallevel>
  <bbva:Phasedintotalcapitalratioattheindividuallevel id="ID_6207" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalcapitalratiobreakdownAxis_bbva_Pilar1additionaltier1capitalrequirementsMember">i) the minimum common equity tier 1 capital (CET1) requirement under Pillar 1 (4.5%); ii) the additional tier 1 capital (AT1) requirement under Pillar 1 (1.5%)</bbva:Phasedintotalcapitalratioattheindividuallevel>
  <bbva:Phasedintotalcapitalratioattheindividuallevel id="ID_6208" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalcapitalratiobreakdownAxis_bbva_Pilartier2capitalrequirementsMember">iii) the tier 2 capital requirement under Pillar 1 (2%)</bbva:Phasedintotalcapitalratioattheindividuallevel>
  <bbva:Phasedintotalcapitalratioattheindividuallevel id="ID_6209" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalcapitalratiobreakdownAxis_bbva_Pilar2cet1capitalrequirementsMember">iv) the CET1 capital requirement under Pillar 2 (1.5%)</bbva:Phasedintotalcapitalratioattheindividuallevel>
  <bbva:Phasedintotalcapitalratioattheindividuallevel id="ID_6210" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalcapitalratiobreakdownAxis_bbva_CapitalconservationbufferMember">v) the capital conservation buffer (2.5% of CET1)</bbva:Phasedintotalcapitalratioattheindividuallevel>
  <bbva:Phasedintotalcapitalratioattheindividuallevel id="ID_6211" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_TotalcapitalratiobreakdownAxis_bbva_OthersistematicimportantinstitutionbufferMember">vi) the Other Systemic Important Institution buffer (OSII) (0.75% of CET1); and vii) the countercyclical capital buffer (0.01% of CET1)</bbva:Phasedintotalcapitalratioattheindividuallevel>
  <bbva:Retainedearningsrevaluationreserveandotherreserves id="ID_6212" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">22963000000</bbva:Retainedearningsrevaluationreserveandotherreserves>
  <bbva:Retainedearningsrevaluationreserveandotherreserves id="ID_6213" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">23590000000</bbva:Retainedearningsrevaluationreserveandotherreserves>
  <bbva:Retainedearningsrevaluationreserveandotherreserves id="ID_6214" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">21805000000</bbva:Retainedearningsrevaluationreserveandotherreserves>
  <ifrs-full:ProfitLossAttributableToOwnersOfParent id="ID_6215" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">5324000000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
  <ifrs-full:ProfitLossAttributableToOwnersOfParent id="ID_6216" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="-6">3519000000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
  <ifrs-full:ProfitLossAttributableToOwnersOfParent id="ID_6217" contextRef="FROM_Jan01_2016_TO_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="-6">3475000000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
  <bbva:IntangibleAssetsEligibleCapitalResources id="ID_6218" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="-6">-8199000000</bbva:IntangibleAssetsEligibleCapitalResources>
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